Wednesday, February 18, 2015

Big plans afoot around University City light rail

A few weeks ago, I wrote about Carolina States Regional Center's plans for a 37-acre mixed use development with about 1,000 apartment units around the Lynx Blue Rail extension. Now, a separate group is marketing 60 wooded acres across Tryon Street as another potential major mixed-use site, with retail, apartments, offices and a hotel.

The development would be across Tryon Street from the University City Boulevard light rail station and parking garage. The land (map below) is owned by brothers David and Tim McKinney.

"This is the most unique real estate play in all of Charlotte currently," said Tim McKinney. They have a website, www.universitycitygateway.com, set up to market the property, complete with possible site plans.

The land, with Tryon Street on the left.

David McKinney said the intense focus on neighborhoods close to uptown and major apartment develops has caused developers to neglect the University City area.

"I think even some of the developers are a little tunnel-visioned right now," said McKinney. "(The University area) has been overlooked."

McKinney said that's all changing with the light rail extension, which runs right up Tryon Street next to the property. He said the brothers have been receiving a lot of interest in the site, both from local developers and some from out of town.

The land is currently zoned for business, residential and mixed-use. The brothers say it could be rezoned for transit-oriented development - the popular zoning designation that allows denser uses around mass-transit.

David McKinney said they would like to see the parcel developed as one block, but aren't opposed to subdividing it either.

8 comments:

Anonymous said...

Looks like a good spot for a car dealership or self storage warehouse....(sarcasm) University City developers are clowns and zoning regulations will contine to push the area into decline. No more low income housing!

Anonymous said...

Just what is NOT needed; more traffic congestion, more pollution and more people in a already crowded, traffic choked area.

Anonymous said...

anon 2:26 Don't forget the light rail line which is spurring this development.

Anonymous said...

Hidden Valley welcomes its new neighbors.

Anonymous said...

anon at 2:26 how is this even a crowded area? like people in charlotte think just because a 4 lane road surrounded by forest has lots of cars it's crowded. nope

Anonymous said...

Didn't ANYBODY travel to the Dallas area in the mid eighties and see the glut of apartments built during the S&L scandal? Some were never even occupied...just bulldozed.There weren't enough people in Texas after oil collapsed to fill all those boxes. "Build it and they will come, " they said. Kind of like the NASCAR HOF.

James Edgar said...

@ 7:22 - But haven't you heard? Millionaires are moving to Charlotte in droves! Tens of thousands of them want to move here every month, and there's just no luxury housing for them to move into! We just HAVE to build homes for them! And as Center City Partners will gladly tell you, there are no $50-a-plate restaurants for them to get a decent meal!

(Sarcasm off)

Or, more likely, the NASCAR HOF and Chiquita are more normal than the high-end-everything cheerleaders want to admint.

devinkumar392 said...

Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something.
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