Latest news with #Charlotte-area
Business Journals
3 days ago
- Business
- Business Journals
Wake Forest expands to Charlotte's innovation district, marking historic milestone in education
Wake Forest University is dramatically increasing its impact in North Carolina by developing a new academic campus in Charlotte's innovation district, The Pearl. Anchored by the Wake Forest University School of Medicine, the expansion is poised to transform medical education, research and economic development in one of the country's fastest-growing cities. The promise of The Pearl Wake Forest's presence in the Pearl promises groundbreaking collaboration and innovation. It is a pivotal moment for both the university and the Queen City. 'We are proud of the role our university and alumni continue to play in Charlotte,' said Wake Forest University President Susan R. Wente. 'Wake Forest's presence in The Pearl allows us to train future physicians, researchers and leaders in a collaborative, urban environment that reflects the needs and opportunities of the communities we serve. This is more than just a new campus — it's a strategic investment in the future of health care and innovation.' Charlotte has long been the largest U.S. city without a four-year medical school. That will change this summer, when Wake Forest School of Medicine opens its second campus and welcomes the inaugural class of medical students in Charlotte. The medical school will be located in the Howard R. Levine Center for Education. Wake Forest also plans to move the Wake Forest School of Professional Studies and the School of Business' nationally ranked MBA program from the current location in Uptown Charlotte to The Pearl. Charlotte is home to the largest concentration of Wake Forest alumni outside of Winston-Salem. Advancing medical education 'Our Charlotte campus marks a transformative moment for Wake Forest School of Medicine,' said Dr. Ebony Boulware, Dean of Wake Forest University School of Medicine. 'It brings our mission to life in new and powerful ways — advancing innovation, forging strong community partnerships and expanding access to top-tier medical education in one of the country's most dynamic cities. This new campus strengthens our reach across the Southeast and the nation, creating new pathways to improve health through learning, discovery and service.' While third- and fourth-year students have long completed clinical clerkships in Charlotte, the new campus marks a significant expansion. The initial class size of 48 students will grow to 100 students per class in the coming years. Fostering collaboration, leadership and professional growth The Wake Forest School of Business and the School of Professional Studies offer a broad selection of programs to Charlotte-area working professionals with a myriad of pathways to advance their careers. Each remains committed to close faculty-student collaboration, strong market connections and rewarding experiential learning that amplifies impact. Strategic expansion will provide students with learning opportunities aligned with the university's mission of character-based education and holistic development. 'Sharing a home with Wake Forest's School of Medicine and School of Professional Studies offers exciting cross-disciplinary opportunities for our MBA and other offerings," said Annette L. Ranft, dean of the School of Business. 'Integrating business programs within a health care innovation district can spark new ventures and foster entrepreneurship in the health technology and life sciences sectors.' The School of Professional Studies currently offers graduate programs 100% online. As the campus expands, additional formats may be introduced. In-person executive education courses, as well as student and alumni community events, could be hosted at The Pearl. 'Leveraging strong partnerships with Charlotte's leading industries — including health care and financial services — Wake Forest programs connect academic coursework with real-world applications, preparing students for successful careers,' said Charles Iacovou, vice provost, Charlotte programs, and dean of the School of Professional Studies. By integrating into this innovation district, these world-class schools will enrich the student experience and strengthen Wake Forest's role as a key contributor to Charlotte's thriving economy, aligning educational offerings with the region's most dynamic sectors. Innovation Corridor links Winston-Salem and Charlotte Wake Forest's move into Charlotte strengthens its broader academic and research ecosystem. The university's Innovation Quarter in Winston-Salem already serves as a national model for public-private partnerships in biomedical research and technology. Now, with an enhanced presence in Charlotte, Wake Forest is extending the arc of innovation across the state. 'This new campus is yet another manifestation of Wake Forest's mission to serve humanity through knowledge and discovery,' Wente said. As construction at The Pearl moves forward and Wake Forest's Charlotte medical campus prepares to open, the project represents not just growth but transformation. It marks the beginning of a new era of possibility for the university, the city and North Carolina.
Axios
14-05-2025
- Business
- Axios
Trader Joe's plans to open in Matthews
Trader Joe's plans to open a fourth Charlotte-area store in Matthews. Why it matters: Cause people go nuts for Trader Joe's. Just try to move your cart around the midtown store on a Sunday, and you'll understand. What they're saying: A Trader Joe's spokesperson confirmed to Axios Charlotte that it does plan to open a store in Matthews but could not yet share a location or timeline. However, signs point to the Matthews Gateway development off East John Street as the location. Driving the news: Monday night, the Matthews town board considered approving some architectural changes for the development, where "we still expect to be a Trader Joe's," planning staff said. Last July, the board reviewed designs for a grocery store resembling a Trader Joe's. The submission included renderings for a building that used the grocer's unique font but only spelled "Grocery Store." Zoom out: Trader Joe's joins a list of other local, highly anticipated grocery store announcements, from Wegmans' first Charlotte location (opening late 2026) to Sprouts in NoDa (August).
Business Journals
21-04-2025
- Business
- Business Journals
Brown Bag Seafood closes two Charlotte restaurants
By submitting your information you are agreeing to our Privacy Policy and User Agreement . Brown Bag Seafood has trimmed its Charlotte-area restaurant portfolio after making a big entrance into the market just a few years ago. Brown Bag Seafood has trimmed its Charlotte restaurant portfolio, shuttering a second location here in less than two months. The Chicago-based, fast-casual seafood chain closed its restaurant at Birkdale Village in Huntersville on April 15. It had been open less than three years. Another location at the Lowe's Tech Hub in South End closed in February, says Zach Flanzman, president and chief operating officer. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events 'We just weren't where we needed to be. At some level, you just can't make the bottom line if the top line is not where it needs to be,' he says. The brand cracked into the Charlotte market in 2022, opening three restaurants in a six-month span. Flanzman says Brown Bag will continue to operate its remaining uptown uptown, which has been open a little over two years. That restaurant is at the Ally Charlotte Center at 601 S. Tryon St. 'We have no plans to exit Charlotte fully. We still feel very confident there's no one else doing what we're doing in the market,' he says. 'We think the concept has every reason to be successful there — we just have to be smarter with our future real estate decisions.' That 2,756-square-foot uptown restaurant leans into Brown Bag's strength as a brand. In its DNA it's a downtown-based lunch concept, relying on the office crowd to drive traffic. 'Uptown is such a clone of where we really feel like we offer the best value and feel most comfortable as a brand,' Flanzman says. He says the Brown Bag brand is versatile and poised to compete well with the lunch and dinner crowds, but location is key. In South End, office traffic didn't materialize as expected to drive sales. At Birkdale, efforts to be family oriented fell flat. 'In short, we got ourselves, I think, into some real estate we thought we were comfortable with and turns out it wasn't our best choices,' Flanzman says. He says the brand expects to grow in Charlotte; it will move cautiously when it comes to choosing future restaurant sites. 'We're still opportunistic about real estate opportunities. If there was something that hit my inbox tomorrow, it's possible. Right now, the name of the game is making the right choices and doing it in the right way.' Brown Bag Seafood got its start in Chicago in 2014. The chain is known for its quick, fresh and sustainably sourced seafood. Its restaurants serve the same high-quality seafood found at a white-tablecloth restaurant — just in a quick-service setting. It has grown to 12 locations in Chicago, Atlanta and the Charlotte market.
Axios
21-04-2025
- Business
- Axios
Average Charlotte apartment rents drop by $1
With a record number of new apartments opening in Charlotte, rents were expected to fall as supply briefly outpaced demand. And they $1. Why it matters: Renters expected a breather from high prices as excess supply came onto the market. But the relief was minimal. Demand was higher than anticipated, and asking rents have returned to their most stable level in nearly two years. By the numbers: Charlotte's average monthly asking rent at the end of Q1 2025 was $1,644 — just $1 less than the first quarter of 2024, according to commercial real estate information company CoStar. Vacancies are relatively stable at around 12.8%, per CoStar's report — another reason price changes are steady. What they're saying: A tight for-sale market is keeping people in place, which has prevented a plunge in demand for rentals, says Chuck McShane, senior director of market analytics at CoStar. Charlotte-area home prices now exceed the national median, according to a recent report from "People are less likely to put their homes on the market now, which I think is keeping prices rising in the for-sale market, while leveled off in the for-rent markets," McShane says. State of play: More than 17,000 new apartments opened in the Charlotte area in 2024, and roughly 4,400 new units opened in the first quarter of 2025. The heightened competition drove annual rent growth down in the second quarter of 2023. Rent growth stayed negative for seven consecutive quarters, though the declines began slowing after a 1.4% drop in early 2024. Zoom out: Suburban areas with less supply saw rents rise, according to CoStar. For example, Gaston County rents are up 2%, and rents in the Huntersville-Cornelius market grew by 2.2%. The suburbs have seen slower construction activity than hot urban neighborhoods. For instance, Lower South End, which expanded its multifamily inventory by more than 50% over the past year, saw rents fall by 3.1% to an average of $1,777 a month. Reality check: Renters are increasingly offered promotions, such as one-month free rent, reducing the overall rent. This past March, 37% of properties had concessions, slightly up from 32% a year earlier. In November 2024, competition for tenants became so intense that more than 50% of landlords were advertising deals, the highest rate in five years. What's next: Expect more impacts on rents as apartment construction continues to slow through the rest of the year and into 2026.
Axios
16-04-2025
- Business
- Axios
What's next for Charlotte favorites Reid's and Salted Melon
Charlotte staple Reid's Fine Foods and its younger sister concept, Salted Melon Market & Eatery, are growing, with both recently announcing new locations. Why it matters: One is a longstanding Charlotte institution born in 1928. The other is a fast-growing brand, only about to turn three years old. Both may soon meet customers in other parts of the region, such as the Lake Norman area. The big picture: Reid's was years ahead of the popularizing "market concept" trend, which is spreading in Charlotte and other cities. "We try to meet customers at multiple points throughout their day and be a neighborhood staple for people living and working around us," says Thomas Coker, the COO of Reid's and owner of Salted Melon. Salted Melon is capitalizing on a rise in fast-casual dining and a shift toward healthier American eating habits. Its bestseller is the Super Caesar Wrap, made with free-range grilled chicken, lemon-massaged kale and a wheat wrap. Driving the news: Reid's will open its fifth Charlotte-area location this fall in Ballantyne, while Salted Melon is expanding to its third location in South Park this spring. This month, the team closed Lebowski's Neighborhood Grill, which they acquired in 2023, to focus on growing Reid's and Salted Melon. Flashback: Tom Coker bought Reid's about 13 years ago to expand his e-commerce gifting company, his son Thomas Coker tells Axios. He reopened the Myers Park location on Selwyn Avenue, refreshing the brand and updating the interior for a more modern, upscale feel. Reid's then expanded to a second location at South Park Mall and two Uptown stores. The upcoming Reid's in Ballantyne will resemble the other locations, offering wines, pre-made meals, baked goods, fresh produce and local goods with a patio, butcher shop and a bar. The 6,500 square-foot space is at 14015 Conlan Circle, in the former Duckworth's spot at Ballantyne Quad shopping center. Thomas Coker says they've been eyeing Ballantyne for several years because of all the new development. Flashback: About four years ago, Thomas Coker began developing his unique vision for what would be Salted Melon. He said he wanted a concept that they could scale quickly, and he understood the South End demographic as a then-resident himself. The 7,000-square-foot South End restaurant and market opened in the summer of 2022. After realizing the main revenue was from the food counter, he opened the next restaurant-focused location in Eastover. The future Salted Melon in south Charlotte's Phillips Place will be 2,769 square feet and seat roughly 100 people, including 40 on the patio. Its all-day menu will be similar to its other two locations: Salads, bowls, sandwiches, wraps, smoothies and juices, coffee and espresso, tea and pastries, plus grab-and-go market items. Thomas Coker says the location checked many boxes, such as adequate parking, space for the patio and proximity to other stores. Salted Melon opened a pop-up shop at the upscale shopping destination in December 2024. "The demographics, with the mix of office and residential in the area, are perfect for us," Tom says. What's next: Salted Melon is expected to grow with two to three more locations a year after the Phillips Place spot opens, and eventually five to six in the Charlotte market, ideally in Ballantyne.
