Centene buys land in the University area as it prepares to start Charlotte expansion
Health insurance giant Centene Corp. closed on its purchase of 80 acres in the University area, marking the next step in the St. Louis company’s $1 billion expansion in Charlotte.
Centene announced this month that it would open an East Coast regional headquarters and technology hub in the city, creating at least 3,237 jobs, though the company has said the move is expected to create 6,000 jobs in the coming years.
Centene closed on the purchase of 80 acres for the campus on July 10 for $10 million, Mecklenburg County real estate records show. The property is along Governor Hunt Road near the intersection of David Taylor Drive.
In addition to office space, the campus will house an early childhood development center, a training center, as well as trails and water features.
The firm is breaking ground on the 770,000 square-foot main building and a parking garage on August 1, according to a Thursday press release. Construction will occur in several phases, with a second phase slated to begin in 2024, the Observer has reported.
Officials have said it is the single largest job announcement in the history of the state’s current incentives program. The company could receive as much as $450 million in incentives over nearly 40 years. Incentives from Mecklenburg County and the city of Charlotte could total $26 million and $31.6 million respectively.
St. Louis-based Rafco Properties is managing the development, according to the release. Charlotte-based LandDesign is serving as the site planner, and LS3P is the architect.
Centene, which ranked No. 42 on the Fortune 500 list this year, is the largest Medicaid managed care organization in the U.S.
This story was originally published July 16, 2020 at 6:24 PM with the headline "Centene buys land in the University area as it prepares to start Charlotte expansion."
