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The former Observer site in Uptown across from BOA Stadium will total 5,000,000 square feet that includes office, retail, hotels, etc. Bank of America is the anchor tenant for the office building currently under construction on the site. There will also be a pedestrian bridge over S. Church Street connecting the first part of the development to the second.
Strong rumors of the second phase to be a mall developed by Simon, the owners of SouthPark and Concord Mills. I’m curious to see which hotel flags will be announced with this project and the nearby Tryon Place development.
The former Observer site in Uptown across from BOA Stadium will total 5,000,000 square feet that includes office, retail, hotels, etc. Bank of America is the anchor tenant for the office building currently under construction on the site. There will also be a pedestrian bridge over S. Church Street connecting the first part of the development to the second.
Strong rumors of the second phase to be a mall developed by Simon, the owners of SouthPark and Concord Mills. I’m curious to see which hotel flags will be announced with this project and the nearby Tryon Place development.
Simon is also the manager of Charlotte Premium Outlets. With brick and mortar retail shrinking everywhere I can't imagine what company would commit to opening destination-type stores in an area that hasn't had significant retail in 30 years. Overstreet Mall doesn't count.
Simon is also the manager of Charlotte Premium Outlets. With brick and mortar retail shrinking everywhere I can't imagine what company would commit to opening destination-type stores in an area that hasn't had significant retail in 30 years. Overstreet Mall doesn't count.
All those people moving uptown want to shop somewhere. They will do well.
Center City demographics are increasingly favorable too. A household with one 28 year old making $88,000 per year has a lot of disposable income to spend shopping. It probably wouldn't be a huge mall, but stores like Anthropologie and Free People have already moved toward Center City knowing they need to capture that market. Stores that cater to the demographic will follow.
Simon is also the manager of Charlotte Premium Outlets. With brick and mortar retail shrinking everywhere I can't imagine what company would commit to opening destination-type stores in an area that hasn't had significant retail in 30 years. Overstreet Mall doesn't count.
Brick and mortar isn't shrinking everywhere. Some areas have too much, others don't have enough. Lots of new retail is being developed in lots of places.
The thing I would love to see in the area are shops, boutiques and retail other than large restaurants. It would be to sensible have at least one upscale store,i.e. Neiman Marcus and a medium sized department store, i.e. Stein Mart as well, There are lots of tourists in Charlotte and the population is to a point where such places could do well. It would keep the uptown population from going to Southpark or other places to shop. With the theater, restaurants, arenas and other venues in the area plus accessibility to major roads, it is time to build.
Simon is also the manager of Charlotte Premium Outlets. With brick and mortar retail shrinking everywhere I can't imagine what company would commit to opening destination-type stores in an area that hasn't had significant retail in 30 years. Overstreet Mall doesn't count.
I agree that brick and mortar retail is on the decline. However, Charlotte has lost Freedom Mall, Midtown Square, and Eastland Mall. As it stands now, central Charlotte has zero destination retail; South Park is the closest option. In Charlotte, we have more suburban options than we need.
Destination retail uptown would attract shoppers from Noda, Plaza Midwood, Elizabeth, Wesley Heights, South End, Dilworth, etc. It would also provide jobs to those who use mass transit to get to work.
The thing I would love to see in the area are shops, boutiques and retail other than large restaurants. It would be to sensible have at least one upscale store,i.e. Neiman Marcus and a medium sized department store, i.e. Stein Mart as well, There are lots of tourists in Charlotte and the population is to a point where such places could do well. It would keep the uptown population from going to Southpark or other places to shop. With the theater, restaurants, arenas and other venues in the area plus accessibility to major roads, it is time to build.
Perhaps it will be more of an indoor lifestyle center with an assortment of specialty stores, rather than a destination department store. But if a department store is returning to Uptown Charlotte, then I would think it certainly should include a hometown Belk store. And perhaps one other upscale variety such as Saks, Bloomingdale's, or Nordstrom.
Brick and mortar isn't shrinking everywhere. Some areas have too much, others don't have enough. Lots of new retail is being developed in lots of places.
Top tier malls such as SouthPark are surviving as destination centers. But the middle ground malls that are older and run down are declining. Tenants are leaving. Macy's is closing underperforming stores that resulted from the May-Federated merger. Most regional department stores in many markets were converted to Macy's, such as Hecht's, Rich's, Kauffman's, Lazarus, Burdine's, and Marshall Field. Too many stores became too commonplace and cheapened the brand.
Local popularity was lost and there were too many stores with limited and poorly managed assortments. And online competition has also been a factor. Macy's is now selling the real estate such as Carolina Place which has closed, and focusing on the top level stores such as SouthPark.
But it would be nice to see Macy's Inc. add their upscale Bloomingdale's brand to Charlotte.
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