A 16-story residential tower is coming to Ballantyne, part of a plan to give the suburban office park a facelift.
Developer Northwood Ravin announced Tuesday it will build a 212-unit apartment community in Ballantyne Corporate Park, split between the tower and five-story building. The complex will have a mix of one-, two- and three-bedroom apartments and townhomes, ranging from 650 to 3,800 square feet.
The project, near the intersection of Ballantyne Corporate Place and Ballantyne Commons Parkway, is next to an 11-story office and luxury apartment building under construction. The company did not disclose the cost of the project.
It’s part of a push from the 535-acre business park’s owner to make Ballantyne an urban, walkable community.
Northwood Office, a subsidiary of the park’s owner Northwood Investors, plans to build a 25-acre town center with shops, restaurants, parks, an amphitheater and 2,000 apartments. About 175 units, or 8% of the total planned, will be set aside for households earning 80% of area median income, which is about $63,000 for a family of four.
The 16-story tower will be home to 126 of the 212 units in the luxury complex. The tower will have a rooftop lounge, with a full kitchen, private dining room, wine room, outdoor balconies and a speakeasy-themed bar for residents. Other amenities in the complex include a saltwater pool, indoor spa, sauna and steam rooms, private fitness room, outdoor kitchens and a “dog run,” a long, narrow area for dogs.
Individual apartments will also have wine refrigerators, among other amenities.
Rents range from $1,200 for the apartments to over $4,000 for the three-bedroom townhouses.
Northwood Investors bought the corporate park from the Bissell Cos. in 2017 for $1.2 billion in the largest transaction in Charlotte real estate history. The park has over 4 million square feet of office space and includes companies such as Brighthouse Financial, Wells Fargo and TIAA.