Uptown’s newest skyscraper is rising fast atop the Mint Museum on South Church Street, and developers are aiming for a “topping out” in March.
Topping out is when the highest structural steel beam of a tower is put in place, marking the completion of vertical construction. Developer Childress Klein is planning to open the upscale apartments in the fall, under the name “Museum Tower.”
Childress Klein said earlier they were on pace for an April topping out, but last week sent invitations to a topping out ceremony for March 11. The building will reach 43 stories, including the Mint Museum, and will total 394 units.
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Speed is important for anyone building apartments right now: A record number of apartments are under construction, and thousands of additional units are expected to hit the market this year.
According to the latest market information from Charlotte-based Real Data, about 12,300 apartments are underway construction and another 13,500 planned. Rents are forecast to rise, but the increase in rent growth could be slowed as landlords have to make concessions to attract new tenants.
Uptown, competing apartment projects to the Mint Museum tower are underway nearby. Greystar is building Ascent, a 33-story tower, at Third and Poplar streets. Woodfield’s Circa Uptown apartments on Graham Street, near BB&T Ballpark, are opening in the second quarter, and the Mint apartments on West Trade Street are now leasing.
Here’s some background on the project: Childress Klein originally planned to build the tower before the recession started, and all the necessary structural work was done during the Mint Museum’s construction in 2009. But when the recession tanked the condo market, the project was put on hold until Childress Klein decided to revive it in 2014 as an apartment tower.
That’s one reason the tower has been built so quickly – the time-consuming processes of digging down, excavating the foundation and building the first phases of the structure were done years ago. Much of the work now has been pouring concrete floors, and general contractor Batson-Cook has been able to pour about one floor every four days.
Here are some more details from Childress Klein about Museum Tower:
▪ Crews are pouring concrete for the 38th level, and interior construction is following.
▪ The rooftop will include a heated pool, lounge, fireplaces and gas grills.
▪ Amenities will include a fitness center with workout classes, a 24-hour concierge and built-in USB charging stations in apartments.