2021 State of the Center City Charlotte

2021

State of the Center City charlotte

PRESENTING SPONSOR

85

Lincoln Heights

University Park Oakview Terrace

J.T. Williams

Washington Heights

Lakewood

Sugar Creek

Oaklawn Park

Double Oaks

McCorey Heights

85

Enderly Park

Druid Hills North

Smallwood

Druid Hills South Tryon Hills North Charlotte

Greenville

Biddleville

Lockwood Seversville Ashley Park

Wesley Heights

FOURTH WARD

1 MILE

Villa Heights

Optimist Park

Plaza Hills

2 MILES 3 MILES

THIRD WARD

Bryant Park

West Boulevard

FIRST WARD

UPTOWN

Westover Hills

Belmont

SECOND WARD

Wilmore

74

MIDTOWN Revolution Park

Brookhill

Uptown (Central Business District) South End Midtown Light Rail Streetcar Streetcar construction

Commonwealth Elizabeth

SOUTH END Dilworth

Center City Partners service district includes:

Plaza-Midwood

Chantilly

Cherry

Coliseum Drive

Southside Park

74

Eastover Sedgefield

Park Road/ Freedom Park

Myers Park

what’s inside 02

building a resilient future

04

highlights

06

development

08

working here

12

talent

13

small business & entrepreneurship

16

on the go

20

living here

24

experience

34

ambassadors

36

staying here

38

on the horizon

40

acknowledgments

For purposes of this document, the term ‘Center City’ refers to a combination of Uptown, South End or Midtown.

The data in this report refers to ‘Center City’ and the aggregate of statistics for Center City.

Opposite page: Charlotte’s commercial real estate companies also designate these areas as the city’s CBD.

01

building a resilient future As we reflect on the extraordinary challenges of 2020, and look toward the future, we are hopeful. Decades of intentionality provide our community the momentum to move forward with resilience and innovation. In a post-pandemic world, Charlotte Center City is uniquely positioned to compete for jobs, investment, and talent.

Center City’s position of strength is built upon the assets created over the most prolific period of development in our community’s history and complemented by growth in talent and jobs. Additionally, institutional investors continue to subscribe to Charlotte’s promise, recognizing the unique value of this region and urban core.

We continue to be inspired by our innovative small business owners who have persevered through these extraordinarily difficult times. The face and personality of our Center City is driven by these small businesses and smart entrepreneurs who embody the ways a thriving central business district offers Charlotte the recipe for restoration and economic recovery.

Throughout history, commerce centers have been formidable engines for job growth, opportunity, and the advancement of technology and ideas. Charlotte Center City is a prime example. From the way our storefront small businesses have adapted to a radically different environment, to the big moves our community is making in transit and mobility, to the advancement of a city-changing medical school partnership, to the exciting cultural and sports investments, Center City continues to serve as a beacon for growth and possibility.

The spirit of innovation, and the boldness with which our community acts, make us excited about the future. We invite you to join us on the journey.

Pat Rodgers

Chair, Board of Directors

02

Michael J. Smith President & CEO

03

highlights

development

working here

The pandemic has not stalled the momentum of Center City, with more than $3 billion of new development planned for 2021.

Charlotte Center City is a magnet for top talent. Tech jobs alone grew 38% in 2019. Office space has grown as well, with 9.6 million sq ft created in the past decade, while rents remain at levels more competitive than peer cities.

04

highlights

small business & entrepreneurship Even in the year of the pandemic, new businesses opened their doors. Difficult times brought out the resiliency, grit and innovation of small businesses and entrepreneurs.

on the go With the increasing number of electric assist bicycles, bike stations, and protected bike lanes, it’s easy to see the future direction of Center City.

living here

experience

staying here

on the horizon

High-quality amenities combined with the low cost of living make Charlotte the #1-ranked best place to live in North Carolina, and the #6-ranked best place to live in the U.S.

Residents and visitors alike enjoy more than 131 acres of parks, trails, and greenways, as well as a rich variety of in-person and virtual events all over Center City.

Center City continues to be a popular destination for work and leisure travel.

Existing hotel rooms, and those in the pipeline through 2024, total more than 7,600.

Center City never stands still, with ambitious plans to expand transit, increase connectivity, develop talent, and improve equity and inclusiveness.

highlights

05

development Charlotte Center City is resilient.

This was a challenging year, but Center City continues its decades-long trajectory of growth and development. The pandemic has not stalled the momentum or vision for the future, with more than $3 billion of new development planned for 2021.

Space is here for office workers, retail shops, and residents. Luxury hotel options are increasing with the latest addition of the Grand Bohemian Hotel. Expansion of the Charlotte Convention Center, with an investment of $126.9 million, is on track for completion in late summer 2021.

BY THE NUMBERS

3.9 million sq ft of office space planned

552,000

sq ft of retail space planned

06

development

2,020

new hotel rooms planned

5,505

new apartment units planned

3+ billion $

of new development is planned for 2021

Top building sales of 2020

building

$

445.5 million

Truist Center

GOPURAM

201 million

$

The RailYard

car

$

Hotel

85 million

BB&T Center parking building

$

52.2 million

Gateway Village

Source: CoStar

Development by decade office space for

48,148 office workers

office 4.6M

4.5M

5.3M

9.6M

retail space for

61 new shops + restaurants

retail 140K

315K

1.1M

541K

hotel space for

1,111,143 more overnight visitors

hotel 1,319

181

1,495

3,061

residential space for

20,540 new residents

418

residential 987

1980-1989

8,188

1990-1999

Source: Charlotte Center City Partners

12,838

2000-2009

2010-2020* * includes under construction

PRESENTED BY

development mvalaw.com

07

working here The COVID-19 pandemic has highlighted the need for flexibility, in the way businesses operate as well as consideration of employees’ needs.

Major employers affirm that Center City continues to be an important asset for businesses as they move forward. Center City is going to remain foundational.

BY THE NUMBERS

33 million

$

38

sq ft of office space inventory

market rent per sq ft

24.4%

120,000

of jobs are in financial, professional services and management related fields

estimated number of Center City employees

4.2

new jobs for every new household (2010 - 2015)

1 of 15

best cities for low taxes* * Source: Redfin, 2018

08

working here

On building a diverse and unique Charlotte...

Since founding our business in 1993, we have watched Charlotte Center City grow into the nucleus that connects Charlotteans and shapes the unique identity of the city today. Center City is the core of who we are as a community, a vibrant place where people of all walks of life come together to live, work and play.

It is no accident that Center City offers this diversity in experiences and in people. Building place requires vision and intentionality.�

David Longo, Chairman & CEO CBI Workplace Solutions

TROPHY

95%

of organizations will keep their office open to employees

44%

are implementing staggered or phased returns to the workplace

33%

plan to make minor changes to the physical workplace to allow for social distancing

CBI Knowledge Share: insights on future real estate and workplace decisions CBI asked leaders across various industries and geographies to share their insights on the future of business. Among these insights: Organizations plan to be more intentional about future

01 workplace strategy to create experiences that support their people and their business;

While employees want flexibility, they want to return to

02 the office for increased engagement, collaboration, and socialization with colleagues and clients; and

PRESENTED BY

03 The office will still be central to maintaining company culture, learning, personal connections, and innovation.

cbi-nc.com

working here

09

working here UPTOWN

Office space in Uptown is plentiful, with a relatively steady vacancy rate over time. Compared with peer central business districts, Class A office space in Center City strikes the balance between availability and affordability.

A wide variety of industries find Uptown to be an extremely business-friendly location. Approximately 40% of workers are employed in finance and insurance, real estate, and professional, scientific, and technical services, while 14.2% are employed in arts, entertainment, and recreation.

Peer CBD Class A office inventory versus rents 20M

70

$

$

$ $

38.64 $

10M

$

36.95

market rent per sq ft across all office classes

40%

of workers employed in finance and insurance, real estate and leasing and professional, scientific and technical services

14.2%

of workers in arts, entertainment and recreation

10

working here | UPTOWN

60

$

41.62

$

50

$

40

$

30

$

20

$

10

$

0

42.15

36.33 $

28.83

5M

0

Raleigh-Durham

Class A office space inventory in sq ft

Atlanta

Austin

Nashville

Average

Average direct asking rent per sq ft Source: JLL, Q3 2020

5.4%

office vacancy rate

$

15M

Charlotte

BY THE NUMBERS

65.34

25

million sq ft of office inventory with an additional 2.7 million under construction

working here SOUTH END

BY THE NUMBERS

17,180

3.9 million

workers in South End

6.2%

5-year office vacancy rate

1.4 million

sq ft of office space inventory

120

sq ft of office space under construction

380

hotel rooms

hotel rooms planned or under construction

85%

of workers viewed having South End location as a benefit of their job

South End continues to grow in popularity as a location for office space.

When asked what they enjoy most about working in South End, workers say they value the exciting urban energy, dining options, and proximity to the Rail Trail.

Approximately 85% of these workers view their South End location as a major benefit of their jobs. While access to amenities like restaurants is seen as the prime benefit, more than half of the respondents value the professional development opportunities available in this diverse urban place.

Work perceptions It is important that my work location is in an urban setting

On what makes South End a good location for professionals…

Working in an urban setting is beneficial to my professional development

The area is booming. The majority of young professionals in the city flock to South End. It’s a unique part of our city that I love showing off to visitors.”

It is important to have easy access to restaurants and shopping during and after work The benefits of working in an urban area outweigh the challenges

South End worker and resident

0%

25%

Agree

Neither agree nor disagree

50%

75%

100%

Disagree

working here | SOUTH END

11

talent Center City remains a magnet for top talent, with more and more educated professionals arriving daily. Among peer cities, Charlotte stands out in the growth of tech talent, at 38% since 2015.

Educational institutions in and around Center City offer skills acquisition and training. Approximately 70% of Center City residents have earned a bachelor’s degree or higher, while 28.5% have a graduate degree.

Metropolitan amenities combined with a relatively low cost of living make Center City a destination for young workers, who bring a vibrancy and energy that adds to the area’s urban character and appeal.

BY THE NUMBERS

70%

residents with a bachelor's degree or higher

57,340

Tech talent growth since 2015

in the tech talent pool in 2019*

40% 38%

28.5%

residents with a graduate degree or higher

10

colleges/universities offering computer science, health science and liberal arts degrees

38%

growth in tech talent*

1 in 5

large markets that gained the most tech talent*

29.9%

25%

15,780

26.6%

25.2%

20% 18.1% 16.7%

15%

14.2%

* Source: 2020 Scoring Tech Talent, CBRE Research

talent

33.2%

30% 27.8%

tech jobs added (2015 - 2019)*

12

35%

14.3%

10%

10.1%

9.9%

5%

0% Atlanta

Austin

Charlotte

Columbus

Dallas / Ft. Worth

Denver

Minneapolis

Jacksonville

Nashville

Tampa

Phoenix

Washington DC

Source: 2020 Scoring Tech Talent, CBRE Research

small business & ENTREPRENEURSHIP

Small businesses provide the heart and soul of a city. Center City fosters growth by giving small businesses and entrepreneurs the resources they need to succeed. With the onset of the COVID-19 pandemic, both government and private companies stepped in to sustain businesses when help was needed most.

In these dark days, the resiliency of entrepreneurship was proven with the opening of four new businesses in Uptown, and 24 new businesses in South End. Innovation has been instrumental in powering through the current crisis. Many businesses adapted with new offerings and experiences for customers. Businesses innovated with new food delivery services, indoor/ outdoor areas, e-commerce solutions, retail on wheels, and collaborative partnerships.

The launch of the Small Business Innovation Fund was a gamechanger for many small businesses in Center City and greater Charlotte.

Three rounds of the fund have been granted to businesses to date.

Inclusiveness is a key goal of the fund, as it prioritizes businesses owned by people of color, women, and veterans.

small business & entrepreneurship

13

small business innovation fund Cities that innovate through a crisis emerge stronger.

The year 2020 posed unprecedented threats to the small business fabric that distinguishes Center City as the economic engine for the region. In response to the pandemic, Honeywell, The Knight Foundation, Duke Energy, and Bank of America united with Charlotte Center City Partners, Foundation For the Carolinas, and The City of Charlotte to launch the Small Business Innovation Fund. This fund provided grants of up to $40,000 to more than 100 small business entrepreneurs to help them adapt and even thrive as they weathered the pandemic storm. Here are a few of those stories.

Center City values inclusiveness and diversity. More than 90% of the Innovation Fund grantees are minority-, women-, and veteran-owned/operated.

From art to design, Center City is a hub for creatives and creativity.

International Truck of Tacos

Paul Andre Boutique

Elder Gallery of Contemporary Art

International Truck of Tacos is part of the popular Uptown street food truck program. COVID-19 changed the traditional interaction between customers and servers. With the Innovation grant, owner Blanca Gonzalez redesigned her truck and acquired equipment for packaging and storing products, allowing her to launch a line of taco kits for home delivery. She also developed an online platform to make ordering efficient and reliable.

Adama Traore, the designer and owner of Paul Andre Boutique in Uptown, is originally from the Ivory Coast of Africa. The boutique specializes in men’s and women’s African and European fashion. It also serves as a community hub.

Traore used the Innovation grant to redesign the store’s layout to accommodate social distancing, and expanded his e-commerce platform for an improved virtual shopping experience that includes custom orders.

Dismantling the perception that art galleries cater only to wealthy patrons, Elder Gallery makes art accessible to people from all walks of life. The gallery provides an environment for meaningful dialogue between artists and art enthusiasts. With a pause on in-person gatherings, owner Sonya Pfeiffer reimagined gallery viewing by designing outdoor waiting stations, creating 3D experiences, and upgrading the virtual shopping experience.

14

small business innovation fund

On how the Innovation Fund affected their business during the pandemic...

Thank you for the wonderful news! We applied for this grant with the hope of getting a filtration unit that will cut our labor and overall costs dramatically. Your efforts and recognition of our needs, as well as our status as a woman- and veteran- owned company, are greatly appreciated. You have helped make our little company stronger and more efficient, and we are honored that you chose us.”

Jay Bradish, Founder and Cider Maker, Red Clay Ciderworks

Thank you so much for your generous investment in StoryNow. Wow! It feels like rocket fuel.

When we heard about the Fund, we got excited – and we got more innovative! It pushed us to see how we could create a valuable and scalable product with the core technology we had built so far. We’re excited to help other small businesses as well as nonprofits in the City Center get their stories out. And we now see more clearly our own story of greater purpose and profit.”

Tamara Park, CEO, StoryNow

Center City is home to dozens of unique mom-and-pop entrepreneurs that add their own unique flavor to the metropolitan mix.

Golden Cow Creamery Golden Cow Creamery is a gourmet ice cream shop with two locations and a mission to support over 40 local nonprofits. Losing out on summer sales severely affected the buffer needed for the traditionally lower profits in winter. Alex and Liz Hannah’s grant funded the creation of a sub-brand to offer morning waffles and coffee during the fall and winter. The new product line gave the Hannahs the confidence to announce a new Uptown location.

I am excited to use the Fund to drive innovation in our manufacturing and digital initiatives, and I am confident that we will achieve efficiencies and successes in both areas. One of the things that drew me to this grant was the focus on sharing knowledge and innovation with others. We have a lot of talented female entrepreneurs in Charlotte with fantastic ideas, and I believe this fund will have a ripple effect on other local businesses.”

Catherine Varley, CEO, Mumease

small business innovation fund

15

on the go On the integrated multimodal network in Charlotte…

Center City is uniquely positioned at the crossroads of the region’s road and transit network, ensuring accessibility for anyone living or working here.

Charlotte is committed to making significant investments in a Transformational Mobility Network that includes transit, trails, roadways, walkways and bikeways to better connect our community. This integrated, multimodal network will enhance the quality of life for our residents and businesses and add to the assets that make our Center City vibrant and thriving.”

There are many options for getting around, on the ground and in the air. Charlotte Douglas International Airport is located less than 15 minutes from Uptown. Scooter and bike share options make it easy to travel through South End and Uptown, especially with new protected bike lanes and the Rail Trail. Charlotte Joy Rides (formerly B-Cycle) added electric assist bikes to the variety of transportation options.

Taiwo Jaiyeoba, Assistant City Manager & Director of Planning, Design and Development

In 2021, construction will begin on a new pedestrian bridge over I-277, making a seamless connection between South End and Uptown for both foot and bike traffic.

89

BY THE NUMBERS

8

nonstop destinations from Charlotte Douglas International Airport

18 mins

19 mins

average commute via public transit to Uptown

95

walkability score for Uptown

16

177

light rail stops serving Center City

on the go

average commute via public transit to South End

76

transit score for Uptown

Center City bike score

on the go

BY AIR

1,575 daily aircraft movements

137K+

daily passengers

11th

in total passengers by ACI rankings*

100+

concessions

26K+

8

parking spaces

Photo courtesy of Charlotte Douglas International Airport

domestic airlines

6th

in aircraft movements by ACI rankings*

3

foreign flag airlines

Source: Airports Council International (ACI)

Flight times Under 1 hour Under 2 hours Under 3 hours PRESENTED BY

tandh.com

3 hours or more

on the go | BY AIR

17

on the go

PUBLIC TRANSIT & PARKING

BY THE NUMBERS

8.8 million light rail passengers boarded annually with an average of 25K riders per day

18

26

express bus routes & 26 local routes serving Uptown

50

plug-in electric vehicle charging stations

19.3

miles of light rail service

48,000

professionally managed parking spaces in Uptown

6,400

free park and ride spaces along the light rail plus 37 additional lots served by express buses

light rail stations from UNC Charlotte to South Blvd / I-485

Modes of commuting

by Uptown workers With its steady evolution as a more livable city, Charlotte focuses on improving mobility, accessibility, and connectivity.

52.7% Use their own vehicle

9.5%

Work from home

A 10-year transportation plan entitled “Transformational Mobility Network� includes details on the construction of the proposed 26-mile Silver Line light rail from Gaston County through Center City and the Town of Matthews, possibly extending into Union County. The plan also proposes building more sidewalks, greenways, bike paths, and roadways.

3.9%

Carpool

2.9%

Public transportation*

2.3%

Other

18

on the go | PUBLIC TRANSIT & PARKING

28.7% Walk

* excluding taxis Source: US Census Bureau, American Community Survey (2018)

on the go

TAKE A JOY RIDE

Joy Rides (formerly B-Cycles) are modern, technologically savvy bicycles. Each bicycle is uniquely designed by local Charlotte artists.

Joy Rides will help to transform Center City into a city of bicycles.

343

Electric assist bicycles

33

Bicycle stations

4

Different passes available

on the go | TAKE A JOY RIDE

19

living here It may be the center of one of the nation’s largest metro markets, but Center City has the feeling of a close-knit neighborhood. The increasing number of housing units provides more options for residents, catering to their diverse needs and tastes.

A residential snapshot survey conducted during the pandemic revealed the aspects of Center City life that residents value most – and miss the most. There was an abrupt halt to the bustle of bars and restaurants, street festivals, outdoor concerts, live music venues, and sporting events. But Center City adapted. Virtual and carefully planned in-person events began to grow and flourish. Even during a pandemic, Center City residents are able to live their best life in a multifaceted urban community.

Center City residents valued these amenities even more during COVID-19.

59% Wide sidewalks 57% Close proximity to grocery stores 52% Greenways and urban trails 51% Parks 48% Balconies or patios 45% Curbside drop-off or pick-up 42% Green space 29% Bicycle lanes Source: Survey of Center City residents (May 2020)

BY THE NUMBERS

35,900 current residents in Center City

128

private schools in Charlotte

113

public elementary, middle and high schools in Charlotte

20

living here

231K

$

median home price

986

$

median monthly rent

119

housing affordability (index = 100; above 100 means household has surplus income) Source: National Association of Realtors, 2019 Q3, Charlotte MSA

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living here UPTOWN

With a vibrant and dynamic urban area, residents in Uptown find plenty of diverse amenities within easy walking distance. Home prices are relatively affordable, and the median household income is higher than the national average, making Uptown a uniquely attractive place to call home.

BY THE NUMBERS

18,300

90,972

$

residents

median household income

11.4%

13.2%

of residents are in single-family houses

70

%

of housing units built since 2010

Proximity to a grocery store

Uptown residents are within ½-mile of a full-service grocery store

$

332,770 median home value

31

median age

Store-Alt

On living in Uptown...

I’ve had the time to enjoy my neighborhood as I work from home and don’t waste time on a long commute to work in a suburban area of town. Easy to walk in an urban neighborhood with sidewalks so I’ve increased my daily walking while working from home.”

Uptown resident 22

living here | UPTOWN

living here SOUTH END

Nearly 96% of South End residents have access to parks within a half-mile walk or bike ride.

The neighborhood has a variety of housing types from apartments with ground floor amenities to townhome options. Regularly scheduled events and activities, and an exciting professional and recreational energy, give South End residents the urban experience they seek.

9,200+

residents of which 54% are between the ages of 20-39 years old

81,094

$

median household income

479,398

$

median home value

On living in South End...

I still feel connected to my city because I can hear the 7 p.m. Friday night celebrations for healthcare heroes that the Carolina Panthers and Charlotte Knights play.

I see so many people out walking at a safe distance and feel not alone. I can walk to the grocery store for essentials and get physical activity.�

South End resident

5,176

market rate housing units with an additional 2,192 residential units under construction or planned

26

salons and spas and 22 fitness studios living here | SOUTH END

23

Photo courtesy of Charlotte Star Room

experience In Center City, the public and private sectors work with one goal: providing the best possible experiences for residents, workers, and visitors.

This means preserving Center City’s character and flavor, with its lively mix of shops, restaurants and bars, arts and culture, sports, events, parks, and the Rail Trail. Since the onset of the pandemic, there has been a surge in creative and innovative ideas for reimaging the experiences offered at bars, restaurants, festivals, and events.

24

experience

Amenities in Center City that residents enjoy (pre-COVID) Restaurants & bars Outdoor events Live music Sporting events Performing arts Mobile vendors 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Source: CCCP COVID-19 survey (April 27 – May 14, 2020)

experience A R T S & C U LT U RE

BY THE NUMBERS

12

museums

131+

acres of open space in Uptown including parks, trails & greenways

46

public art works in South End

10

shops and salons for pets

13

art pieces in Windows of Hope in South End

7

days each week with music and events, both virtual and in-person

Photo courtesy of CRVA

Center City continues to be home to the region’s most active performing, cultural, and visual arts institutions.

Programming for events, both in-person (with safety protocols) and virtual, resumed as Stay at Home orders were lifted. Some public art pieces grew out of a response to social injustice, created to offer hope and encourage unity.

In South End, art galleries and shops extend evening hours on the first Friday of each month for special receptions, live painting, and music. There is also an annual spring street festival for crafts and creativity, “Art & Soul of South End.”

Photo courtesy of City of Charlotte

experience | ARTS & CULTURE

25

Among the most popular draws of living, working, and visiting in Center City is the wide variety of restaurants and bars, craft breweries and distilleries, coffee shops, and ice cream shops and bakeries.

From family-friendly spots, to lunch breaks during the work day, to relaxing nights out, Center City offers something for everyone. Events centered on food and beverage include Craft Crawl, Hops Fest, and Food Truck Fridays.

The necessary pivoting during the pandemic means that more restaurants are offering delivery, some are providing a different experience with outdoor seating options, and others are handling delivery orders for meal kits. As the number of residents and workers continues to increase in Center City, the dining and nightlife options are expected to keep pace.

Photo courtesy of Third Rock Events

experience

RE S TAUR ANT S & BARS

BY THE NUMBERS

250+

9

102

97

restaurants

locally-owned shops and restaurants in South End

32

coffee shops

26

craft breweries, ciderworks & distilleries

pubs, bars & wine bars

6

ice cream shops & bakeries

experience | RESTAURANTS & BARS

89

restaurants and retail shops per square mile

1.9 million

sq ft of retail shops and restaurants in Center City, with an additional 312,700 sq ft under construction

city

experience | RESTAURANTS & BARS

27

experience

NEW SHOPS IN SOUTH END Despite the ongoing pandemic, 24 new businesses opened their doors in 2020 in South End – 14 new restaurants and 10 new retailers. This bold move shows the confidence small businesses have in the sustained energy in Center City.

On opening a business during the pandemic...

While the hardships brought upon by COVID-19 continue to affect all small businesses, I sensed an opportunity for our post-COVID world. The vision of Green City Foods is rooted in wanting to give South End residents an alternative to the big box stores. I understand the challenges small businesses face and I hope to do my part to help us all succeed.�

Juddson, Owner of Green City Foods

28

experience | NEW SHOPS IN SOUTH END

experience SHOPPING

Major national retailers and local shops are part of South End’s eclectic mix. Shopping events are held regularly in Center City, including Front Porch Sundays, Small Business Saturdays, and Nebel’s Alley Night Market.

BY THE NUMBERS

68%

of South End residents attended Front Porch Sundays

7

80+

grocery and specialty stores

retail shops for clothing, fitness gear, furnishings/hardware/ design, pharmacies, florists, art & office supplies

Annual lifestyle spending in Center City target market

plane-alt $

3,111

Bicycle 134

$

music 155

$

on travel

on movies, museums & parks

FOOTBALL-BALL

TICKET-ALT

Gamepad-Alt

114

$

80

$

on sporting events

$

on theatre, operas & concerts

on audio

9

on online games experience | SHOPPING

29

experience EVENTS

Center City offers several parades, pop-up shopping events, cultural festivals, art gallery crawls, and food festivals.

The Novant Health Thanksgiving Day Parade, a 74-year tradition, was transformed into a virtual televised show during this pandemic year. Charlotte SHOUT! is a two-week festival of art, music, food, and ideas, with major art installations and programming for all ages.

In South End, the I Heart Rail Trail light art installation illuminates the Rail Trail in February.

Photo courtesy of Eric Halili

Photo courtesy of Kyo H Nam

30

experience | EVENTS

Photo courtesy of Eric Halili

BY THE NUMBERS

150+

events planned by Charlotte Center City Partners each year

2 weeks 74 years of internationally recognized art, music, food and ideas at Charlotte SHOUT!

of the Novant Health Thanksgiving Day Parade

PRESENTED BY

experience | EVENTS patrickschneiderphotography.com

31

experience

PARKS & RAIL TRAIL

BY THE NUMBERS

200+

shops and restaurants within walking distance of the Rail Trail

2,700+

people who use the Rail Trail on a daily basis

34.5%

growth in Rail Trail users from last year

15

urban parks

Staying connected.

The Rail Trail is the linear park that connects Uptown and South End as it winds its way along the light rail line. The trail is animated with public plazas and works of art; is a destination for fitness enthusiasts who run, bike, or walk their dogs; and is a transit hub linking businesses, residents, and visitors. The Rail Trail continues its expansion with the design of a new pedestrian bridge that will cross I-277, expected to start construction in the summer of 2021.

32

experience | PARKS & RAIL TRAIL

Bicycle%

17.9

walking

82.1%

Rail Trail users by type

experience SPORTS

Charlotte is home base for seven professional sports teams and multiple large venues, which allow Center City to host a variety of special sporting events and tournaments. In 2019, an estimated 1.9 million fans attended regular season games. The 2019 NBA All-Star Game generated an economic impact estimated at $87.7 million. Last year, more than 250,000 out-of-town visitors came to Center City for special events, including the CIAA Basketball Tournament and the Belk Bowl.

BY THE NUMBERS

87.7 million

$

economic impact from the 2019 NBA All-Star game

1.9 million

fans attended regular season games

200

days & nights per year of live sporting events Source: CRVA

74,867

seats at Bank of America Stadium, home of the NFL’s Carolina Panthers and MLS’s Charlotte FC

20,200

seats at Spectrum Center, home of the NBA’s Charlotte Hornets

250,000+

out-of-town visitors for 2019 for the CIAA Basketball Tournament and Belk Bowl

experience | SPORTS

33

ambassadors The Center City Ambassadors Program launched in 2019 in Uptown, and in May 2020 in South End. Ambassadors help with wayfinding assistance, visitor recommendations, special event safety and information, resident assistance, safety escorts, and social service outreach to homeless citizens. During the pandemic, Ambassadors responded to people in housing or health crises, kept their eyes on the streets, and engaged with businesses to share information on programs and grant assistance.

On how our Ambassadors are friendly and help to make people feel safe...

I like seeing the Center City Ambassadors because it's comforting to see their friendly faces and know they have radios if someone needs help.�

Uptown resident

34

ambassadors

BY THE NUMBERS

4,600+

hospitality assistance provided

278

safety escorts for visitors

2,731

maps & publications distributed

89

homeless service referrals

2,230

scooter hospitality assistance provided

On the impact the Ambassadors make in Center City...

The Center City Ambassadors are a powerful tool for our community and great partners with CMPD. We have worked together on many Center City initiatives including the Black Lives Matter mural, pedestrian plazas and our homeless population. The Ambassadors are a fantastic resource for visitors, residents, and our most vulnerable neighbors.�

Captain Brad Koch, Charlotte-Mecklenburg Police Department Central Division

I absolutely love the Center City Ambassadors.

I loved how I saw them yesterday when we went out for our exercise. Their presence shows that someone cares!�

Uptown resident

ambassadors

35

staying here With the opening of the Grand Bohemian Hotel Charlotte in Uptown, luxury accommodations increased by 254 rooms. South End opened its first hotel, Holiday Express & Suites Charlotte South End, with 123 rooms.

The Charlotte Convention Center expansion, with an investment of $126.9 million, is set for completion in the third quarter of 2021, adding more breakout meeting space and an overstreet pedestrian bridge to the Westin Hotel and Stonewall Station.

35

hotels by 2024

On stronger Uptown post-pandemic...

The COVID-19 pandemic has had a severe impact on urban areas across the country, with Uptown Charlotte being no exception.

However, the continued public and private investment in Center City, combined with an already thriving sports, arts & culture and culinary scene makes me optimistic that Uptown and the surrounding areas will come out on the other side of the pandemic stronger than before.�

Tom Murray, Chief Executive Officer Charlotte Regional Visitors Authority

36

staying here

BY THE NUMBERS

2 million pre-pandemic overnight visitors

10

hotels under construction & proposed

964

additional hotel rooms in 2021 (16% of existing supply)

1,056

additional hotel rooms beyond 2021 (17.5% of existing supply)

7,600+

hotel rooms by 2024

55

meeting rooms in the Charlotte Convention Center

The $7.8 billion in spending that supports the visitor economy serves as a vital catalyst in ensuring Charlotte is an attractive place to live, start a career or business, go to college or retire.

The Economic Impact of Travel on North Carolina Counties, prepared by the U.S. Travel Association for the Economic Development Partnership of North Carolina.

staying here

37

on the horizon

The Center City 2040 Vision Plan is underway and will create a blueprint for the future growth and development. The plan is heavily informed by comprehensive community engagement.

South End continues its transformation into a major employment center as the Central Business District expands south from Uptown.

• Currently over 1.4 million sq ft of office space is under construction, with an additional 1.2 million sq ft announced.

• Demand for talent is increasing as large employers, such as Lowe’s, Allstate, Lending Tree, and others, have opted to locate their businesses here.

38

on the horizon

The 7th & Tryon Project, currently in development, spans 1.5 blocks between Tryon and College Streets.

• The site will include a mix of restaurants and shops, a 25-30-story office tower, residences, a pedestrian plaza, sidewalk cafes, and will be anchored by the new Main Public Library.

• Immediately across the street, construction continues on the renovated Carolina Theatre, which will anchor a new 34-story tower. The first five floors will be dedicated to the theater and civic space.

Independence Square reclaims public space at the intersection of Trade and Tryon Streets.

The new public space vision includes creating a more active, vibrant, and connected place at the very center of the City, designed for all to enjoy.

Wilmore Centennial Park at South End will be at the corner of South Tryon and West Boulevard.

• The Mecklenburg County park is being built in partnership with Beacon Partners, who are developing the adjacent Square at South End office project.

• Also underway is the 132-unit Centro Square apartment building that will wrap a parking deck shared by office and residential spaces.

• The 1.5-acre park and 150,000 sq ft office building are expected to be completed by summer of 2021, with the apartments finishing construction in early 2022.

The Gateway District will be a major mixed-use development spanning multiple blocks between Graham Street and the rail line, with significant office, residential, and retail space.

• The project will be anchored by a new major multimodal transit station on West Trade Street, straddling the border of Third and Fourth Wards.

• The Gateway Station will serve Amtrak passenger rail, the Gold Line streetcar, local express, and regional bus service, as well as the future Silver Line light rail.

Work is underway on the rail infrastructure needed to access the site, with service at the future station estimated to begin in 2024.

A new Rail Trail Pedestrian Bridge to be built over I-277 is in the planning stages. A public/private partnership is enabling the project to move forward, adding iconic public infrastructure to the city, and giving pedestrians and cyclists a safe, efficient link between Uptown and South End.

Multiple transit improvements are in the pipeline across Center City.

• In early 2021, the Gold Line streetcar will return to service, expanding to a route of four miles, running from the Historic West End through Uptown to the Elizabeth and Plaza Midwood neighborhoods.

• Additionally, planning continues for the 26-mile Silver Line light rail corridor that will run from the town of Belmont past the airport, through Uptown to Matthews, and potentially beyond. CATS has a goal of beginning passenger service in 2030.

Construction will soon begin on the Uptown CycleLink, a network of protected bike lanes that will connect the growing east and westside greenway systems into and across Uptown. These bikeways will be designed for cyclists of all ages and abilities, protected from vehicular traffic and providing safe access to all four wards and multiple Uptown destinations, including the Main Public Library, Discovery Place, Romare Bearden Park, Truist Ballpark, and more.

Having recently confirmed their partnership, Atrium Health and Wake Forest Baptist Health are moving forward with plans to establish a four-year medical school in Charlotte.

• The proposed school will include over 100 specialized programs envisioned to support about 3,500 students each year, as well as residents, fellows, and nursing students.

• In addition to training the next generation of doctors, the school will create opportunities for new research and innovation while bolstering Charlotte’s growing health care industry.

on the horizon

39

acknowledgments Board of Directors Pat Rodgers, Chair Rodgers Builders

Dena Diorio Mecklenburg County

Mark Holoman Cousins Properties

Diane Morais Ally Bank

Bill Rogers Truist Financial

Tom Finke, Chair-Elect Entrepreneur

George Dunlap Mecklenburg County

Taiwo Jaiyeoba City of Charlotte

Tom Murray Charlotte Regional Visitors Authority

Terry Shook Shook Kelley

Jennifer Appleby Wray Ward

Rob Engel Wells Fargo

Marcus Jones City of Charlotte

Tom Nelson National Gypsum

Darrel Williams Neighboring Concepts

Clay Armbrister Johnson C. Smith University

David Furman Centro CityWorks

Sam Judd Asana Partners

Cindy Noble Compass Group

Earnest Winston Charlotte-Mecklenburg Schools

Jeep Bryant Arts & Science Council

Kodwo Ghartey-Tagoe Duke Energy

Janet LaBar Charlotte Regional Business Alliance

Mike Praeger AvidXchange

Malcomb Coley EY

Tom Glick Carolina Panthers

Tiffany Lewis Entrepreneur / Let’s Talk Game

Ernie Reigel Moore & Van Allen

Jesse Cureton Novant Health

Malcolm Graham City of Charlotte

Carol Lovin Atrium Health

Cheryl Richards Johnson & Wales University

Kandi Deitemeyer Central Piedmont Community College

Johno Harris Lincoln Harris

Michael Marsicano Foundation For The Carolinas

Pat Riley Allen Tate Realtors

Sponsors

Credits

Presenting sponsor

Section sponsors

cbi-nc.com

tandh.com

mvalaw.com

The 2021 State of the Center City Report was prepared by Cheryl Myers, Kristine Canales, Adam Rhew, Rick Thurmond and Caroline Bounds.

For questions, please contact Kristine Canales at: kcanales@charlottecentercity.org

Design

Photography

mitchellphillipsdesign.com

patrickschneiderphoto.com

Cover design

Additional photography

Caroline Bounds carolinebounds.com

Eric Halili rebrandlifestyle.com

Copy editor Marty Kelso kelsocomm.com

40

acknowledgments

Kyo H Nam kyohnam.com

Travis Dove Photography travisdove.com

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