Chicago developer buys prominent South End site for $5M, plans for apartment tower
New year, new South End tower.
The neighborhood’s growth isn’t slowing down as another developer, Chicago-based Sterling Bay, has plans to break ground on a high-rise luxury apartment tower this year.
With its first project in Charlotte, Sterling Bay will develop a roughly half-acre site at South Boulevard and East Park Avenue. It purchased the property in December for $5.2 million, according to Mecklenburg County property records.
Sterling Bay’s project will join a number of other high-rise projects in South End either already under construction or being planned.
The neighborhood recently saw the completion of the 23-story Lowe’s tech hub center. A 23-story office tower is being built up the road along with two 24-story towers on South Boulevard, one for offices, the other for apartments.
Sterling Bay wanted to develop in an area that was highly walkable and close to plenty of restaurants and nightlife.
“You’re at the center of the Venn diagram between Dilworth, South End and all the food and beverage options,” said Ryan Walsh, head of acquisitions at Sterling Bay. “We see it as arguably the best site (in Charlotte) to bring a luxury product.”
Giving tenants views of Charlotte
What those plans will exactly look like are not clear.
Sterling Bay is still working through design with its two architects, Chicago-based Hartshorne Plunkard Architecture and Charlotte firm, Little. That means the exact height and count of apartment units hasn’t been determined yet, Walsh said.
But you can expect the building to be tall. Walsh said tenants will find something akin to taller residential projects in uptown or to ones in the larger cities people left to move to Charlotte.
Sterling Bay hopes to attract renters looking for a step up from a low- to mid-rise apartment building, and rent in a larger one with more amenities and offering better views.
Its previous projects have included everything from pools, rooftop terraces and fitness centers to bowling alleys and pickle ball courts.
What will happen to Sandwich Max and Beijing?
Many will know the site as home to a one-story brick building that’s home to Sandwich Max and a Chinese restaurant, Beijing. The building dates back to 1940, according to Mecklenburg County property records.
Both businesses have leases in place, said Ryan Walsh, director of acquisitions for Sterling Bay. The firm is in conversations with both about long-term plans.
The building will include ground floor retail and both those tenants — or anyone else — will be welcome to be part of the project, Walsh said.
Attempts to reach Sandwich Max were not successful. A manager at Beijing said the restaurant remains open but that future plans are not yet clear and the restaurant can’t do anything until it gets a lease termination notice.
South End adds to skyline
South End’s skyline is changing. And fast.
The once industrial area continues to see more and more development, thanks to its proximity to uptown and the light rail running through it.
A half-acre site once home to the iconic walk-up Southern friend chicken joint Price’s recently sold for nearly $4 million. Stiles and Catalyst Capital Partners are working to build a 30-story luxury apartment tower.
Closer to uptown, another Chicago developer is preparing the former home of Midnight Diner for a $750 million project. Queensbridge Collective will have a 45-story residential tower and a 42-story office tower.
