Chicago-based Riverside Investment & Development, along with Charleston-based Woodfield Development, is well underway on its second tower at Queensbridge Collective in Charlotte, North Carolina. Queensbridge Collective is a dual-tower mixed-use development that sits at the gateway to Charlotte’s city center as well as the popular South End neighborhood. Once complete, the new tower will feature a mix of apartments, Class A+ office, and retail space. The development occupies the full city block between Carson Blvd and Morehead Street, and is located next to the Carson light rail station. The address is 1111 South Tryon Street.
Designed by Goettsch Partners (GP), 1111 South Tryon includes 397,000 SF of Class A+ office space, 304 multifamily apartments,. Similar to its recently completed tower in Phase 1, the new mixed-use tower will rise 42 stories, reaching approximately 656 feet. Although the two towers have the same number of floors, the structure is taller than the Phase 1 tower by 100 feet, given the taller floor plates for the office space.
Schuessler continued, “We wanted to leverage the energy of the two districts to bring a full mix of active uses into the development while also creating a distinctive new presence on the skyline.”
The project also joins a list of transit-oriented developments both planned and under construction. The map below provides a sample of adjacent developments for context.
I had the opportunity to speak with the developer on this rare (for today’s market) mix of Class A+ office and residential in a single building, and what went into the decision to plant a flag in Charlotte, North Carolina. The developer offered perspective on the Charlotte market as well as an impressive line-up of tenants planning to occupy the office space, which also signaled the start of construction.
Ryan Continued, “We looked at a number of different markets, and ultimately, the continued job growth and population growth here in Charlotte, as well as the business-friendly nature of North Carolina and Charlotte, played a big part in that decision.”
Here is a list of confirmed tenants for the new office space at 1111 S Tryon:
- Charlotte-based private equity firm Pamlico Capital, which will occupy one floor in the new building.
- Moore & Van Allen, the largest law firm in Charlotte, is the anchor tenant for the new office building.. They are relocating from the Bank of America corporate building once 1111 South Tryon is complete.
- Big 4 accounting firm EY will occupy 45,000 square feet in the new tower.
- Pacific Life, a Fortune 500 company headquartered in Newport Beach, California, will create an East Coast hub at the new Class A+ tower. According to the City of Charlotte, they are expected to create over 300 jobs with an average salary of over $175,000, focusing on actuarial, finance, technology, and human resources roles. Several positions, including those in technology roles, do not require a college degree.
Wilkinson emphasized that Charlotte’s growth metrics, combined with a couple of great land sites, solidified the Charlotte market expansion for the firm with its capital partners. Here’s the quick rundown:
1111 S Tryon
Mixed-use Development
What’s NowUnder Construction
What’s NextMixed-use…