Life Time Fitness buys Rea Farms site for $6 million, will build fitness center

A Minnesota-based fitness center operator plans to build a large facility at a development on Providence Road after buying a 24-acre site for $6 million.

Life Time Fitness bought the parcel from Charlotte-based Lincoln Harris, which is developing the defunct Charlotte Golf Links course into a new, mixed-use center that will be called Rea Farms. The land is at Allison Woods Drive, off Providence Road on the north side of the Rea Farms site.

Real estate records also show that Charlotte-Mecklenburg Schools purchased a 10-acre site from Lincoln Harris at Rea Farms. The school system plans to build a K-8 school on the site, totaling 130,000 square feet.

On its parcel, Life Time fitness will build a gym featuring an indoor and outdoor aquatic center, a tennis complex, walking trails, a full-service salon and spa and a cafe serving healthy fare. The gym is set for completion in spring 2017.

“Rea Farms will be a tight-knit neighborhood and a total lifestyle destination focused on health and wellness like Life Time, which will truly complement the vitality of the community,” said Johnny Harris, CEO and chairman of Lincoln Harris, in a statement. “It also matches the goals the Rea family has for the development of the land.”

In addition to Life Time Fitness, the Lincoln Harris development is set to include up to 650,000 square feet of office space and 250,000 square feet of retail space, as well as up to 500 housing units of all types. The development will total 188 acres.

It’s across the street from two other major developments that are also underway: Waverly, by Childress Klein and Crosland Southeast, and Providence Farms, by Crescent Communities. In total, the developments are set to bring about 2,100 new housing units to Providence Road just south of Interstate 485, along with a Whole Foods, other shops, a hotel and more offices.

In the Life Time transaction, Betsy McIntyre of Lincoln Harris’ Charlotte office represented the seller, and Dave Oster, of Life Time, represented the buyer.

Ely Portillo: 704-358-5041, @ESPortillo