CHARLOTTE — Riverside Investment & Development Co. has paid $35 million for a high-profile site between uptown and South End where it’s preparing to launch a three-tower project.
[PAST COVERAGE: Chicago developer to lead major project at site of Uptown Cabaret, Midnight Diner]
The Chicago developer on Dec. 22 acquired a total of seven parcels at the 2.75-acre site that is currently home to Midnight Diner and Uptown Cabaret at West Morehead and South Tryon streets, according to Mecklenburg County real estate records. CBJ broke the news last month that Riverside was targeting the property for a mixed-use development that will have about 800,000 square feet of office space, 650 residential units and 50,000 square feet of retail space.
Longtime owner Brian Dominick confirmed to CBJ’s Jennifer Thomas in November that Midnight Diner will relocate, but has yet to release specifics.
The project’s total construction costs are expected to reach up to $750 million.
(Watch the video below: Bank to foreclose on uptown’s EpiCentre complex by spring)
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