CHARLOTTE — Real estate company CBRE announced it will lead a new overhaul for the EpiCentre property in uptown Charlotte. The property has been renamed Queen City Quarter, CBRE announced.
The real estate company is using Streetsense, a global urban design and placemaking agency, for the rebranding.
CBRE said it expects to complete significant repairs to the courtyard, parking garage, patios and roof by the end of the year. Next year, the public staircases and escalators on the property will be renovated. New landscaping, lighting and benches will also be installed.
It’s a welcome change for Lauren Burns, who works just two blocks away.
“I feel like in 2014, the EpiCentre was like, the place to go for young professionals, nightlife, kind of a touristy destination,” she said.
Centrally located and within walking distance of Charlotte’s biggest attractions, the site once hosted high-profile events like the Democratic National Convention and NBA All-Star Game celebrations.
The owners defaulted on an $85 million loan during the pandemic, and many of the tenant spots are still noticeably vacant.
“Seems like a great building, but it seems like it’s lacking the people,” Bradley Kestler said.
The real estate company is focusing on safety, a spokesperson said, and has installed an “extensive” system of security cameras on the property.
“When we were engaged to think about the strategy for the former EpiCentre, it became clear to us that the property didn’t have a leasing problem, but rather a real estate problem,” said said Jeff Pollak, Managing Principal of Streetsense. “It has great bones, a great location -- it just needed a fresh approach, new ideas, and a new narrative.”
Queen City Quarter is able to house traditional retail, restaurants and office tenants in addition to creative office, medical office and various other office and retail uses, CBRE said.
“This is great news and an important step forward for this foundational uptown Charlotte mixed-use project,” said Michael Smith, CEO of Charlotte Center City Partners. “Queen City Quarter enjoys unmatched assets in their transit orientation and co-tenancy with Charlotte’s hub for hospitality, entertainment, employment and urban living. We are excited to work with CBRE as they write this next exciting chapter.”
The EpiCentre, once an entertainment hotspot in uptown Charlotte, sold to its highest and only bidder back in August. Deutsche Bank Trust Company Americas, the bank that lent money to the former owner for the property, made a bid of $95 million.
“It would make a great destination for the tons of working professionals around here and maybe get some younger people from South End into uptown,” Burns said.
Read more from the Charlotte Business Journal here.
MORE PREVIOUS COVERAGE:
- EpiCentre sold: What’s next for the former entertainment hub?
- Auction for uptown Charlotte’s EpiCentre suddenly postponed
- EpiCentre in uptown Charlotte to be put up for auction in May
- Meck County court approves foreclosure of uptown’s EpiCentre complex
- Bank to foreclose on uptown’s EpiCentre complex by spring
- ‘It’s kind of losing its glow’: Will Charlotte’s EpiCentre survive?
(WATCH PREVIOUS BELOW: EpiCentre to likely remain with current lender after no higher bid offered)
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