Lincoln Harris, one of the Southeast’s preeminent commercial real estate development, investment and property management companies, today announced plans for a major restatement of the vision for Phillips Place, the first-of-its-kind SouthPark mixed-use development that changed the Charlotte retail landscape when it opened in 1997.
The refreshed Phillips Place will include a 41,000-square-foot RH design gallery – RH Charlotte, The Gallery at Phillips Place – featuring a rooftop restaurant with spectacular views of the Charlotte skyline. Enhancements will also include a more animated streetscape, inviting indoor and outdoor gathering spaces, updated architecture, reconfigured parking and traffic patterns, and the first completed section of The Loop, a pedestrian walkway that will connect key destinations and neighborhoods throughout the SouthPark area.
Lincoln Harris also announced it has acquired the interest in the project currently held by co-owner Regency Centers Corp. (NASDAQ: REG), the Jacksonville, Florida-based shopping center owner and developer. Regency gained an ownership stake in the 35-acre, 130,000-square-foot center by acquiring the interests of Peter Pappas and Pat Clayton, partners in Phillips Place developer and Lincoln Harris predecessor The Harris Group.
“Phillips Place created the category and set the standard in Charlotte for pedestrian-friendly, retail-residential mixed-use development, and much of the credit for its success is due to the vision and commitment of Peter, Pat and, of course, Regency CEO Hap Stein and his team,” said John W. (Johnny) Harris, chairman and CEO of Lincoln Harris. “Phillips Place is one of a handful of developments that has transformed and elevated Charlotte over the past two decades, and with the enhancements announced today will define the premier luxury retail experience in Charlotte for a new generation.”
RH, one of the center’s original tenants, currently occupies 8,850 square feet showcasing its home furnishings collection. The planned rooftop restaurant atop the new, more expansive design gallery continues the extension of the RH brand into the hospitality space, an initiative that now includes six world-class offerings by celebrated restaurateur and President of RH Hospitality Brendan Sodikoff. The restaurants are located in RH design galleries in New York, Napa Valley, Chicago, West Palm Beach, Nashville and Toronto.
At the time Phillips Place was proposed in the early 1990s, the concept of a European village-style center featuring retail, residential and entertainment components was new to Charlotte – so new that changes to Charlotte zoning laws regulating suburban development were required to allow the developer to put apartments above retail spaces in the same building. Phillips Place is home to national tenants such as The Palm, Wolfgang Puck, P.F. Chang’s, Taylor Richards & Conger, Brooks Brothers, Orvis, J. McLaughlin, Eileen Fisher and Paper Source, and regional tenants such as Upstream, Windsor Jewelers, Granville and Modern Salon & Spa. In addition, the center features a Hampton Inn & Suites hotel, a 10-screen Regal Cinemas movie theater, and apartments.
About Lincoln Harris
Lincoln Harris, together with Lincoln Property Company, provides clients with a national platform and unparalleled institutional resources, including commercial real estate development, investment and property management. Based in Charlotte, Lincoln Harris takes great pride in its reputation as one of the region’s most accomplished full-service commercial real estate companies. Lincoln Harris’ multidisciplinary team has a long history of working through complex transactions and adopting innovative approaches to real estate problems. We take pride in developing and implementing comprehensive national real estate programs for our clients and cultivating a sense of trust in the communities we serve and the individual transactions we service. To learn more about Lincoln Harris properties and services, please visit www.lincolnharris.com.