Crescent Adds More Mixed-Use in Charlotte
- Jan 29, 2016
Charlotte, N.C.—Local developer Crescent Communities began construction on a new mixed-use, transit-oriented development (TOD) in Charlotte’s North Davidson Arts and Entertainment District (NoDa).
Crescent has been busy so far in 2016, with this development marking the second groundbreaking for the company this month. On Jan. 6, Crescent broke ground on Crescent Stonewall Station, its mixed-use TOD in Uptown Circle, which will bring luxury apartments and Center City’s first Whole Foods Market. These developments come at a perfect time, with the City of Charlotte extending its light rail line north to UNC Charlotte, which will be operational by 2017. Crescent NoDa will be located at the 36th Street Lynx Blue Line light rail stop.
To get this project off the ground, Crescent successfully rezoned about seven acres at the intersection of the planned Blue Line extension and East 36th Street in April 2015 and bought the site from an affiliate of Merrifield Patrick Vermillion for $10.5 million, the Charlotte Business Journal reported.
“When people get off the light rail at 36th Street they will immediately experience the essence of the NoDa neighborhood,” said Ben Collins, senior vice president of Crescent Communities’ multifamily group. “We are working with the NoDa neighborhood, designers and transit to ensure that we plan the community and activate the 36th Street Station in a way that reflects the Art and Entertainment District’s distinctive personality. We look forward to welcoming walkers, riders and bikers to the living spaces, work places, studios, restaurants and retail of this vibrant neighborhood.”
Crescent NoDa will feature 344 studio, one- and two-bedroom apartments and up to 75,000 square feet of street-level retail. It will also serve as a gateway to the surrounding neighborhood with the extended light rail platform and 35th Street extension as well as local retail and open plazas. Crescent has also commissioned CBRE to market a 1-acre parcel next to the development for commercial development, which could bring up to 28,000 square feet of retail.
The community will also have the ability to close off the new addition of 36th street so it can bring food truck festivals, farmer’s markets, small concerts and other events to its residents.
The new development will emulate the NoDa atmosphere by commissioning local artists to create exterior and interior artwork and sculptures, with plans to incorporate design elements like tumbled brick and corrugated bring for a historic feel.
Residents will have access to amenities like an outdoor terrace, dog wash, club room, fitness center and private pool.
According to the Charlotte Observer, the light rail is bringing a surge of new businesses and residents to the area, with 24 new zoning requests for new development coming through in the past few years. About 1,900 new apartments have been announced along the 9.3-mile, $1.2 billion Blue Line extension from uptown to UNC Charlotte.
Crescent NoDa is being financed with equity from Crescent Communities and loans from Synovus Bank and Citizens Bank. The architect is Lord Aeck Sargent, the landscaping designer is Land Design and the interior designer is Vignette Interior.
Rendering courtesy of Lord Aeck Sargent