South End to get new office tower next to another project near light-rail line
A local investment and development firm with plans to build a 24-story apartment tower in South End is now partnering up to build an office tower next door.
White Point Partners and Barings, an investment management firm, also located in Charlotte, closed on 1.2 acres at 1728 South Blvd., near East Boulevard, in late December and plan to start construction early next year, according to the developers. The two firms have formed a joint venture with MRP Realty, a real estate operating company that has offices in Washington, D.C., Pennsylvania and New York, among others.
The project will include 400,000 square feet of office space, ground-floor retail and other amenities, including a rooftop terrace.
A Walgreens is currently located and open at the site but will close, and the building will be torn down as part of the development, said Laura Graff, a spokeswoman for White Point.
“This acquisition enables the complete transformation of this block into a true live-work-play destination,” Jay Levell, co-founder of Charlotte-based White Point, said in a news release.
The exact height of the office building is not yet determined, Graff said. Construction is expected to start early next year.
Planned tower next door
White Point is partnering with Greystar to build a 24-story apartment building next door. That tower will include 324 apartments and about 15,000 square feet of ground-floor retail. The groundbreaking for that project was held shortly after the New Year. Construction is expected to be complete by 2024.
The building sits close to Dilworth Artisan Station at 118 E. Kingston Ave., a three-story White Point property that hosts local artists.
The White Point projects are steps from the East/West rail station of the LYNX Blue Line.
“This first-class office development will be a dramatic complement to an underutilized block in the most high-profile intersection in South End,” Patrick Sullivan of MRP Realty said, according to the news release.
Other projects nearby
The news is just the latest in South End tower developments:
▪ Construction of a 23-story office tower at 110 East Blvd. started this month. The building will have 370,000 square feet of office, retail and restaurant space. It’s just steps from the 23-story Lowe’s tower at 100 W. Worthington Ave.
▪ A 30-story, 291-unit luxury apartment tower is planned at the corner of Camden Road and West Park Avenue at the former site of the iconic walk-up Southern fried chicken joint Price’s Chicken Coop.
▪ Closer to uptown, Chicago-based Riverside Investment and Development is planning a $750 million project to bring three buildings with a mix of commercial and residential uses. The site displaced the popular Midnight Diner and is close to LendingTree’s new headquarters that occupies one of two 11-story towers at South Tryon Street and Carson Boulevard.
This story was originally published February 2, 2022 at 12:18 PM.
