Construction starts on 12-story, $166 million tower near Bank of America Stadium
Construction started this month on a 12-story, $166 million residential tower in the shadow of Bank of America Stadium.
Developer Aspen Heights Partners plans to build 393 townhome and apartment units, including one bedroom, two bedroom and studios. The project will include a five-story parking deck.
The development of the high-profile site near Interstate 277 follows a decision last year by Charlotte City Council to rezone the nearby 55-acre Pipe and Foundry site. It paved the way for additional development, including the possibility of a new stadium, as well as retail, hotels and restaurants.
A company with ties to the Austin-based Aspen Heights recently closed on six parcels totaling roughly 1.4 acres around 315 W. Morehead St. The company paid $16.25 million, according to Mecklenburg County property records.
There are six existing buildings on site, all of which have been vacant “for some time,” and will be demolished, a spokeswoman for Aspen Heights told The Charlotte Observer in an email.
The building will include a fifth-floor courtyard and swimming pool, according to Aspen Heights, a sky lounge with views of uptown and fitness center.
Leasing is expected to begin in the fall of 2023.
Other development near Bank of America Stadium
The site is about a half-mile from the LYNX blue line light rail Carson stop.
It’s also near where Chicago developer Riverside Investment and Development plans to build a $750 million project at 1111 S. Tryon.
Riverside’s project will include a 42-story glass office tower along with two apartment towers, one at 38 stories and another standing 30 stories.
This story was originally published April 21, 2022 at 4:47 PM.
