CHARLOTTE — It’s been nearly five years since plans to develop 1,400 acres of land alongside the Catawba River in west Charlotte into a master-planned, mixed-use district were first unveiled. After closing on land that will serve as the front door of that development, called The River District, Crescent Communities says it will begin a first phase of construction this year.
Before the end of 2020, Charlotte-based Crescent Communities acquired 7.8 undeveloped acres at 9826 Garrison Road, paying $4.7 million, according to Mecklenburg County real estate records. That parcel will be the gateway for The River District, said Brendan Pierce, senior managing director of commercial development at the firm.
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“With this land acquisition, it was the last piece of the puzzle to get started, and to be able to have control of the gateway into River District,” Pierce said. “This was a critically important step for us. It’s the final piece to allow us to start in earnest in the first half of the year.”
The full River District land is entitled to accommodate up to 8 million square feet of office, 500,000 square feet of retail, 1,000 hotel rooms, 2,300 single-family homes and 2,550 apartments. The River District, about the same size as Ballantyne in south Charlotte, will likely be built out over at least a decade.
Read the full story here for more on what’s planned there.
Cox Media Group
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