Development

Proffitt Dixon moving forward with plans for apartments on Actor’s Theatre site

The Actor’s Theatre site as it stands now
The Actor’s Theatre site as it stands now

Charlotte-based apartment development firm Proffitt Dixon is moving ahead with its plans for a new apartment building on the site of the Actor’s Theatre uptown.

The company is under contract to buy the Stonewall Street site, as well as an adjoining parcel owned by the city of Charlotte, and filed preliminary paperwork about the plans with the city on Thursday.

Managing principal Stuart Proffitt said plans are still in the early phases, but here’s what the company is looking to do:

▪ 300 apartment units

▪ Approximately 8,000 to 10,000 square feet of ground-floor retail

▪ A six-story building, with the apartments atop the retail

▪ A pool with a view of the skyline

Proffitt Dixon knows the area well: Just down the street, at Stonewall and McDowell, the company is finishing up construction on a 230-unit apartment building called The Presley. That building’s leasing office just opened this week.

The projects are part of a transformation that’s getting ready to sweep over Stonewall Street. From west to east, the projects are:

▪ Sale of the Observer building to Lincoln Harris for redevelopment.

▪ Tryon Place, an office tower and hotel by Crescent Communities at Stonewall and Tryon streets.

▪ Crescent Uptown, a Whole Foods, 450 apartments and two hotels, also by Crescent Communities.

▪ Northwood Ravin mixed-use project (details to be announced) at Stonewall and Caldwell streets.

▪ Proffitt Dixon apartments at Actor’s Theatre site.

▪ Mecklenburg County’s pending move out of the Bob Walton Plaza building, which will be put on the market for redevelopment.

▪ The Presley apartments.

Ely Portillo: 704-358-5041, @ESPortillo

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