Development

This prominent uptown bank tower just reached a construction milestone

Timelapses show Uptown Charlotte Skyline change dramatically since 2008

Charlotte, NC recently became the 16th largest city in the US, ahead of Indianapolis. The city's skyline has changed drastically as part of the growth. Google Street View helps illustrate that change.
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Charlotte, NC recently became the 16th largest city in the US, ahead of Indianapolis. The city's skyline has changed drastically as part of the growth. Google Street View helps illustrate that change.

A 26-story office tower underway in the rapidly-changing area around Stonewall Street in uptown Charlotte crossed a construction milestone Wednesday.

Developer Crescent Communities and general contractor Brasfield & Gorrie announced in a press release that the Ally Charlotte Center building in uptown has topped out, which marks the completion of vertical construction on a project.

The firms gathered at the site Wednesday to celebrate placement of the highest steel beam on the building. The total cost of the project was not disclosed. In the release, the firms said they have completed more than $7 million in work with minority and underutilized businesses so far.

Crescent broke ground in 2018 on the 742,000 -square-foot office building, at the corner of Stonewall and Tryon streets. Ally Financial will occupy over 400,000 square feet in the tower. The building will also have 25,000 square feet of ground-floor retail. Real estate firm Asana Partners is under agreement to acquire the retail space, according to the release.

Beam Signing 1.jpg
Courtesy of Crescent Communities

The 3-5-acre property was once home to a Goodyear auto shop, which the nonprofit Goodyear Arts was started in. That building was demolished to make way for the new high-rise.

Hotel management company White Lodging is also building a 381-room JW Marriott hotel next to the office tower.

It’s part of a wave of development that is changing Stonewall Street.

Crescent also built the Stonewall Station development where the Whole Foods is located. Near the Bank of America Stadium, the 10-acre, two-block Legacy Union development is underway. As part of the project, developer Lincoln Harris is building a 33-story tower anchored by Bank of America, an 18-story building anchored by Deloitte and Honeywell’s 23-story tower.

Crescent expects to complete the project in the first quarter of 2021.

The project being developed by Lincoln Harris and Goldman Sachs at the former Charlotte Observer site at Stonewall and Tryon streets now has a name: Legacy Union.


Correction

An earlier version of this story misstated how $7 million of the project had been spent. The firms have done $7 million in work so far with minority and underutilized businesses.

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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.

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