CHARLOTTE, N.C. — A mix of funds from the city’s capital investment program and a tax-increment grant are being sought to help pay for new infrastructure at the massive Ballantyne Reimagined project.
Public investment totaling $42.5 million is being pursued by Northwood Investors, which owns Ballantyne Corporate Park in south Charlotte, to build out a new street network and other improvements to support denser, mixed-use development at the park. Several infrastructure projects are described in the rezoning petition filed for the development, such as new turning lanes, traffic signals and roads, including a new east-west connection.
Northwood, which acquired Ballantyne for more than $1 billion from its developer, The Bissell Cos., in 2017, has big plans to add new development to the park. A rezoning petition filed last year calls for up to 1,000 apartments, 200 hotel rooms, 300,000 square feet of retail space, and an amphitheater in the first phase of development.
The second phase could include up to 400,000 square feet of new office space, an additional 1,000 apartments and 300 for-sale housing units. The project also includes plans for several parks, a new greenway connection and roads.
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