Long-anticipated North Tryon development set to break ground with anchor tenant

CHARLOTTE, N.C. — A long-awaited mixed-use project on North Tryon Street in uptown is finally gearing up to break ground — and it has a big tenant finalizing an anchor lease deal.

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Virginia-based REIT Armada Hoffler Properties Inc. (NYSE: AHH) recently acquired the 1.5-acre lot at Ninth and Tryon streets for $10.5 million, where it will serve as the majority partner and lead developer in the Ten Tryon development. Conceived and envisioned as a mixed-use development for more than a decade, Armada Hoffler will work in a joint venture with David Furman's Centro Cityworks and Charles Campbell of Flagship Healthcare Properties.

The project has gone through multiple iterations and proposed uses over the years — with varying amounts of condos, apartments, a hotel, grocery store and office space all having been contemplated in the past — but it will ultimately be a 15-story, 215,000-square-foot building with 175,000 square feet of office space and a Publix grocery store on the ground floor.

Long-anticipated North Tryon development set to break ground with anchor tenant

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