A developer is planning to remodel and re-lease restaurant space at a busy spot on Central Avenue in Plaza Midwood, as a new apartment project there nears completion.
The TriBridge Residential development One305 Central includes 281 new apartments, expected to be complete this summer. As part of the $50 million project, TriBridge is looking to line up new retail tenants for the one-story buildings at the corner of the property formerly occupied by vegetarian restaurant Fern.
“With both the character of the design and the modern amenities we expect will fill the commercial space, we anticipate One305 Central will be a welcomed addition to Plaza Midwood,” said Yates Dunaway, vice president for TriBridge Residential, in a statement. TriBridge bought the property in 2014 for $7.8 million. “The restaurant space, in particular, will complement the existing restaurants in the neighborhood.”
The Shopping Center Group is listing the 10,000 square feet of retail space for lease. The company is seeking restaurants and entertainment options that “add to the vibe of the existing neighborhood.”
“Known as one of Charlotte’s most diverse and eclectic neighborhoods, Plaza Midwood is begging for new and more contemporary amenities,” said Darrell Palasciano of The Shopping Center Group. “Since the mid-1990s, Plaza Midwood has seen a dramatic comeback as reinvestment has transformed many of the area’s historic, craftsman-style homes. One305 Central was designed to complement the unique character of the neighborhood – and it will deliver what the residents are looking for. With the project’s exceptional visibility and access, we expect to draw patrons from surrounding areas as well.”
The retail space was previously home to Fern restaurant and Something Classic catering, which have relocated. The buildings were built in the 1960s and 70s.
Palasciano said they’re in talks with two local restaurateurs, and that a microbrewery is “seriously eyeing the space.” The renovated building will include 2,000 square feet of patio space and art installations by local artists. The apartments will include 65 parking spaces for the retail.
Hood Architecture designed the project and Roper Construction is the general contractor. The commercial space is expected to be finished this fall.