Construction to start on luxury apartment tower uptown

A rendering of Northwood Ravin’s 500 West Trade project.
A rendering of Northwood Ravin’s 500 West Trade project. Courtesy of Northwood Ravin

Dirt will soon start moving on another prominent tower uptown, with hundreds of apartments coming to a long-vacant site.

Developer Northwood Ravin said in a press release Monday that it will start construction on its 500 West Trade project next month. The plans call for 354 luxury apartments in two buildings, one 14-story and one seven-story.

The site, once home to the Polk building, has been vacant for more than a decade. The Polk building, which dated to 1925, was first a car dealership, then a state office building. But it was demolished to make way for the development.

David Ravin, president of Northwood Ravin, told the Observer last year that taking the building down wasn’t a decision he took lightly. But preserving and reusing the building would have been too costly, he said.

The development will also include 8,500 square feet of street level retail, as well as a courtyard facing Trade Street.

The 14-story building will have a rooftop lounge, outdoor kitchen and wine vault. There will also be a dog spa and two swimming pools, one of which is on the roof of the high-rise.

It’s one of Northwood Ravin’s three projects uptown, and its eighth in Charlotte. The developer owns and manages the Vue, a 51-story luxury apartment tower uptown, and is building a new high-rise tower on Stonewall Street, which recently began leasing units.

The 500 West Trade development is across from the planned Gateway Station, which Charlotte officials broke ground on last year. The Gold Line streetcar construction is also underway in front of the project. In the press release, Ravin called the area one of the most “exciting in the city.”

The first apartments will be ready for residents in 2021, Northwood said in the release.

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Danielle Chemtob covers economic growth and development for the Observer. She’s a 2018 graduate of the journalism school at UNC-Chapel Hill and a California transplant.