Commercial real estate firm NAI Southern Real Estate has filed a rezoning petition for 3.4 acres at the intersection of Baldwin Avenue and Third Street in bustling midtown Charlotte.
If approved, the rezoning would allow for the development of a 20-story, Class A office tower with up to 512,500 square feet of space and a neighboring 240-room hotel. The Third Street development would include 30,000 square feet of ground-floor retail and restaurant space as well as an expansive terrace with outdoor seating.
Located within walking distance to Novant Health Presbyterian Medical Center, Central Piedmont Community College and nearby retail, restaurants and entertainment, the site is also located just 420 feet from the Gold Line streetcar system, offering connectivity to uptown Charlotte for potential tenants and their employees. Plans for the office building include a private 20th floor corporate boardroom and rooftop patio with skyline views.
The development team has spent several months reaching out to neighbors and meeting with community leaders to discuss the proposed development.
“We believe that this can be a transformative project for the area and a catalyst for investment along the Gold Line,” said Caldwell Rose, president of Southern Real Estate. “We will continue working with community leaders to understand their perspectives and develop a plan that impacts the community in a positive way.”
NAI Southern Real Estate is seeking a MUDD-O district for the site, and a rezoning hearing is expected to take place in early 2018. If approved, the construction timeline for the development would depend upon pre-leasing activity.
K&L Gates is representing NAI Southern Real Estate on the rezoning, and the project team also includes architecture firm Gensler, engineering firm Stewart and transportation planning firm Design Resource Group.
NAI Southern Real Estate is a full-service commercial real estate firm specializing in the sales, leasing and property management of a broad spectrum of properties including office, medical office, industrial, retail, land and income-producing investment real estate. Founded in 1899, NAI Southern Real Estate is the oldest commercial real estate firm in Charlotte and has a global reach through its affiliation with NAI Global, a global corporate real estate and investment services firm covering 375 markets in 55 countries and managing more than 380 million square feet of commercial properties.