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CHARLOTTE | NoDa Greenway District TOD | 600K SF office | 200K SF Retail | 2600 Units | U/C

3637 Views 4 Replies 1 Participant Last post by  Rhodium
Dubbed the Greenway District, a 75-acre transit-oriented development built on the industrial space between the NoDa community and North Tryon Street will incorporate mixed-use projects with the LYNX Blue Line Extension and XCLT trail system.

The project is led by Flywheel Group, a local development company responsible for the master plan. Flywheel Group President Tony Kuhn said he was drawn to the site's uniqueness. “It is one of the only places in the entire region that has transit and greenway connection side by side,” he said. “We hope to attract businesses that want to locate in a more sustainable-type development, one that prioritizes interaction and relationships to the community, to nature and to other people within the community. And de-prioritizes the automobile.”
The build-out will be a $300M to $400M project with 2,600 residential units, 200K SF of retail and 600K SF of office. Plans for plazas and other recreational areas are included in 25 acres of green space. Although Kuhn is not ready to name other partners in the development, a residential project announcement is coming soon.
He expects to break ground in 2018 and finish in five to seven years. Once completed, the Greenway District will connect the University area, South End, Uptown and NoDa.
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Up to ~90 acres...

Flywheel Group won approval to allow transit-oriented development at the intersection of East Sugar Creek Road and Raleigh Street, close to the Lynx Blue Line Sugar Creek Station. The 8.3-acre site contains industrial buildings and is part of Flywheel's larger vision of creating a Greenway District across about 90 acres in NoDa.
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The rest of Flywheel's project, the Greenway District, will commence once discussions with the city about public infrastructure projects, like extending Philemon Avenue, are finished, Kuhn said. The first phase will include multifamily development, two apartment projects by different developers who will each build about 300 "urban garden-style" units, he continued.

Kuhn declined to name those developers but said they are currently going through permitting with the city. Once some residential has been developed, other uses will be built in the Greenway District. The ground floors of the apartment buildings to come up first will have the ability to eventually be converted into live-work units or commercial space, Kuhn said.

"We'll have space carved out for ground-floor retail in the future as the neighborhood develops," he said.

Flywheel Group has now rezoned all of its holdings in NoDa to allow transit-oriented development, Kuhn said. The firm has gone through multiple rezonings over the past couple of years to allow TOD mixed-use development on the land, which has largely contained industrial development.
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Project Details
A new district adjacent to the heart of the NODA arts district in Charlotte, North Carolina

The master plan envisions a new 1 mile stretch of road parallel to North Davidson Street, incorporating existing structures for re-use, a large urban park, new mixed use development at the transit stop at 36th street, and a variety of multifamily development and single family housing opportunities. The new district is focused towards the greenway to be developed along Little Sugar Creek.
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The Exchange
A planned $110MM mixed-use development will be anchored by ground floor retail overlooking the Greenway, office space with stunning views of the Charlotte skyline, and for sale condominiums, apartments and condos in two phases.

Exchange NoDa is a fully entitled transit-oriented mixed-use development, uniquely positioned with direct access to the light rail, NoDa, the new Cross-Charlotte Trail Greenway and major East-West street connection along Matheson Bridge.

The Guild
A 3.3-acre site located a few hundred feet from the NoDa's 36th Street Station along the Charlotte's Blue Line light rail, the Guild also has direct exposure to the Greenway.

The Village
The largest developable tract in NoDa, The Village will create an entirely new neighborhood in NoDa along the Greenway, with direct access to NoDa's 36th Street Station, via a new extension to Philemon Road.

NoDa 3536
A 1.5-acre site, located between the 36th Street Station on the light rail and the historic center of NoDa, this project will become an integral part of the NoDa neighborhood.
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Hundreds of apartments are already under construction or are about to break ground in the area that Flywheel has master planned. Nashville, Tennessee-based Stonehenge Real Estate Group is building 299 units (studios and one-, two- and three-bedroom apartments) in four-story buildings at 3750 Philemon Ave., a project called Amaze at NoDa, in partnership with Neyland Apartment Associates. Brand Properties, based in Atlanta, in December acquired more than 14 acres along Matheson Avenue, an area Kuhn calls the Exchange, to develop a multifamily project. Chicago-based Origin Investments last month closed on its $15.6 million acquisition of two parcels at Craighead Road and Philemon Avenue, where it's readying to develop a first phase of apartments, in partnership with Flywheel Group. Kuhn said that first phase will include about 300 units, with two more phases planned long-term.
Kuhn said he wasn't surprised when news came out about the shortfall for the Cross Charlotte Trail, indicating a public-private partnership has been contemplated for the trail running through the Greenway District for some time. He didn't specify what type of funding structure he may seek to build out the trail through the Greenway District but indicated a reimbursement from the city from incremental tax revenue would be the most likely approach (a tax-increment grant).

The goal would be to have that two-mile stretch funded and built out by the time the first phase of apartments deliver — roughly two years from now — though Kuhn acknowledged that would be an "accelerated" timeline.
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