Development

Prime piece of uptown land now on the market for redevelopment

The Norfolk Southern Properties land listed for sale uptown as a major redevelopment opportunity.
The Norfolk Southern Properties land listed for sale uptown as a major redevelopment opportunity.

If you’ve walked along the Blue Line light rail uptown, you’ve probably noticed two seemingly prime sites sitting vacant near the transit center, on either side of the tracks: A grassy hill and large surface parking lots.

Now, Norfolk Southern is putting those parcels – along Brevard Street and the light rail tracks, between Third and Fourth Streets – on the market. The Charlotte office of brokerage firm CBRE has been selected to market the site as a redevelopment opportunity, positioned along the booming light rail route.

“In the modern era of traffic control and environmentally friendly transportation options, the light rail system will continue to gain momentum and serve as a staple aspect of the (central business district),” said CBRE senior vice president Patrick Gildea, in a statement. “Access to public transportation and walkability scores are quickly becoming high priorities for employers and top-level talent.”

The land could support uses such as office buildings, residential, retail or hotel high-rises, CBRE said. The land is zoned for uptown, mixed-use development, which would allow a dense, urban development.

Although uptown has been booming, with a slew of new apartments, hotels, office towers and a Whole Foods, the Brevard Street corridor still has numerous undeveloped parcels. In March, a planned 31-story condo tower at Fourth and Brevard streets, across from the Norfolk Southern site, was canceled after the developer ran into trouble pre-selling enough units to start construction.

Ely Portillo: 704-358-5041, @ESPortillo

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