ULI Charlotte News

RECAP – Ride & Talk: Development along the LYNX Blue Line Extension

On June 7, 2018, ULI members participated in a program taking us along the new LYNX Blue Line Extension and learning about the plans and projects along the newly opened line.  Below are notes on what we heard during the tour:

Sugar Creek Station – speakers included Tony Kuhn, Flywheel; Scott Fuller, Legacy Real Estate Advisors.

Station House is reuse, creative office, retail space.  Phase 1: Creative Office: 56,000 SF; Container Office: 21,500 SF; Retail: 11,600 SF.  Phase 2: 81,000 SF Creative Office.  367 surface parking spots.  Will have dining on roof, green roof.

University City Station – speakers included Jane Wu, Carolina States Regional Center; Stuart Parks, The Arden Group; and Grace Nystrum and Rusty Price, The Camino Center.

66 Acres directly across from parking garage and light rail station is owned by McKinney Holdings.  Divided into three parcels.  Planning mixed use development and over 1200 apartment units.

South of parking lot: Janet Wu with Carolina States Regional Center and Panorama is planning Class A Office.  Currently having difficulties rationalizing rents.  Rents in the University area are $22/PSF.  In order to support Class A office rents need to be $30+.  Parking is an issue.

Stuart Parks owns Parks Chevrolet and is chair at University City Partners.  Owns parcel to the northeast.  Holding acreage at Tom Hunter station in Hidden Valley until housing market improves in the area.  Working with Topgolf.  Topgolf will create an anchor for leisure activities.  North Tryon traffic approximately 300,000 trips per day.  Ikea attracts 1.2 million per year and Topgolf would attract 500,000 per year.

Behind parking lot is the Camino Community Center.  Partnering with Bank of America to increase clinical SF on ground floor and then working on 5-6 stories of workforce housing.

JW Clay Station

7 story Marriott with conference center planned at station.

UNC Charlotte Main Campus – speaker included Clay Andrews, Economic Development, UNC Charlotte.

From the light rail platform, you can see student union through Wallis Hall.  The train runs once every 8 minutes and UNCC has bulked up security around the station.  UNCC: $300 million worth of construction under way.  30,000 undergraduate students, 2nd most populous in the state behind UNC Chapel Hill.  They plan to grow to 60,000 students.  Chancellor Philip Dubois, along with former Mayor (and former Governor) Pat McCory had the vision for the light rail.  Took $7 million investment from UNCC to make it happen.  In Fall 2018, the entering student body will get unlimited light rail, campus bus, and CATS rides.  6-7k students live on campus, almost 80% of the freshman class.  Most others live in multi-family units directly off campus.

Notes Provided byJenifer Gooch, MSRE, Regional Director – Charlotte, Metrostudy.  She also offered the MetroStudy slides regarding the Blue Line.

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