CHARLOTTE — A Chicago real estate investor and developer will enter the Charlotte market with plans for a massive development at a highly sought-after location between uptown and South End.
Riverside Investment & Development will close in December on 1111 S. Tryon St. The site includes multiple parcels, including those that house Midnight Diner and Uptown Cabaret. Construction on a multi-tower, mixed-use project will begin within a year after closing, said Tony Scacco, Riverside’s chief operating officer.
[PAST COVERAGE: Developer said to be eyeing high-profile property near uptown]
The three towers will include a mix of office space, residential, retail and potentially a hotel. The project’s total construction costs are expected to reach up to $750 million.
The Charlotte Business Journal first reported in August that Riverside was circling the site for a major project. Brian Dominick has owned the land for decades. Midnight Diner is relocating to a nearby site, Dominick confirmed to CBJ’s Jennifer Thomas.
(Watch the video below: Security questions arise after shooting outside Midnight Diner)
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