Charlotte’s Center City to See $2.4 Billion in New Construction by 2027

Major Development Projects in Charlotte’s Center City

Charlotte’s urban core, encompassing Uptown, South End, and Midtown, is poised for significant growth. By 2027, the area is expected to see $2.4 billion in new construction, featuring:

• 4,866 apartments
• 1.2 million square feet of office space
• 1,501 hotel rooms
• Over 257,000 square feet of retail space

This development pipeline reflects a strategic effort to attract new businesses and investors to the region. Notably, this figure excludes over $2 billion in redevelopment projects, such as the $800 million renovation of Bank of America Stadium and the $250 million conversion of Duke Energy’s former headquarters into apartments. Despite a slower development pace compared to previous years, with high office vacancy rates and a recent dip in apartment rents, projects like Riverside’s Queensbridge Collective show promising leasing momentum. Large-scale mixed-use developments like the Iron District and Charlotte Gateway Station are expected to drive continued growth in residential, office, and hotel sectors.

Sources

• $2.4B in new construction planned for Charlotte’s center city by 2027