The Ballantyne Corporate Park is about to get a new tower and its first apartments.
Construction on the project that will add an 11-story office tower and luxury apartment building in the park is underway, owner Northwood Office, an affiliate of Northwood Investors, announced Thursday.
The mixed-use project will feature a 328,000-square-foot office building and an apartment complex. Northwood said the office tower, which will be the tallest in the corporate park, will be complete by early 2021.
In a statement, Northwood called the project “amenity-rich.” The tower will have floor-to-ceiling open glass walls, a rooftop terrace, fire pit and outdoor seating area, as well as a 2,500-square-foot gym on its main level.
Ballantyne is a 2,000-acre community in South Charlotte, with a business park that has over 4 million square feet of office space. Companies including Brighthouse Financial, Wells Fargo, TIAA have a presence in the area.
It’s the first project announced by Northwood Investors since it purchased the corporate park in 2017 from local developer the Bissell Cos. The $1.2 billion sale was the single largest transaction in Charlotte real estate history.
The project will also bring the first apartments to the corporate park, as Northwood seeks to attract and retain workers in the area, which is a few minutes from the South Carolina border.
The apartment complex is being developed in conjunction with Northwood Ravin, the developer’s Charlotte affiliate that owns the 51-story Vue uptown as well as the new high-rise tower on Stonewall Street, which recently began leasing units.
A spokeswoman for Northwood Ravin said the company could not provide specifics on the apartment project.
The Bissell Cos. started developing the corporate park more than two decades ago on what was once farmland, hunting fields and trees formerly owned by the Harris family. In addition to office space, the master-planned community has a golf course, four hotels, 19 miles of walking trails and bike lanes, parks, restaurants and medical facilities.
Local developer Smoky Bissell founded the Bissell Cos. in 1964. He developed much of the SouthPark area alongside longtime developer Johnny Harris before starting work on Ballantyne.