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Axios
14-04-2025
- Business
- Axios
Uptown's center of gravity has shifted south
The corridor along South Tryon, South College Streets and what's now known as Brooklyn Village Avenue has seen a substantial amount of new development and new businesses. Why it matters: The city's urban core has shifted south, almost blurring the lines between Uptown and South End. Context: The Duke Energy Plaza, Ally Charlotte Center, and Legacy Union all opened within the last decade, creating more jobs in Uptown and adding new restaurants and things to do, like the Museum of Illusions. Plus, the Convention Center, which is also in this corridor near I-277, underwent substantial renovations. What they're saying: "Urban cores are like living organisms," Charlotte Center City Partners president and CEO Michael Smith tells Axios. "Its center of development and center of life changes based on many forces, including development patterns and availability of lands and investments in transportation systems and then complementary uses." Between the lines: Uptown's heartbeat once was the EpiCentre (now Queen City Quarter), where you could eat, drink, and play. But the EpiCentre couldn't recover from financial woes that were exacerbated by the pandemic. Even with a new name, fresh paint and new tenants, it's far from the destination it once was. Flashback: Uptown's southern edge was once mostly occupied by parking lots and a few prominent buildings like those of the Charlotte Observer, Actor's Theatre of Charlotte, and a Goodyear tire shop-turned- temporary home for artists. Today, those buildings have been razed and replaced with towers that reach for the sky. Some are apartments, hotels and offices. While others house headquarters for organizations, including Honeywell and the ACC. "This was one of the really big wins in the economic development narrative the last couple years when the ACC decided to stay in North Carolina and chose Charlotte," Center City Partners' economic development SVP James LaBar tells Axios. The area is also drawing restaurants from some of Charlotte's most established names, like Dogwood by Rare Roots Hospitality Group and Milkbread and Albertine by Joe and Katy Kindred. The intrigue: The opposite side of Uptown is in the midst of its own transformation. Spectrum Center is going through renovations and the Charlotte Hornets have begun construction on a new standalone practice facility, which team and city leaders hope will spark a district similar to Milwaukee's Deer District. Charlotte Mecklenburg's new $137.3 million main library is expected to open in spring 2026 off North Tryon Street, and the nearby Carolina Theatre recently reopened after a $90 million restoration. Beyond development, thousands of people will gather in First Ward Park in May for Lovin' Life Music Fest. That same weekend, people will also gather at Bank of America Stadium for Kendrick Lamar's concert. What we're watching: Development is slated for either side of I-277, with a 42-story apartment tower, Queensbridge Collective, and a restaurant overlooking the Rail Trail Market on Morehead on the South End side. As for Uptown, Bank of America Stadium is slated to undergo major renovations in the coming years. The bottom line: "There can be great activity in many places, but centers of activities move," Smith says.
Axios
30-01-2025
- Business
- Axios
Charlotte is ready to spill its tech "secret"
Charlotte's growing tech workforce has long flown under the radar, but economic development leaders want to broadcast the city's hidden advantage to draw new businesses and investors. Why it matters: Organizations like Charlotte Center City Partners say they believe they can lure more future-focused companies here by revealing the tech talent hidden in our banking, insurance and other industries. What they're saying: Site selectors are catching on that Charlotte has a wealth of tech talent that's more affordable to hire, says James LaBar, senior vice president of economic development at Charlotte Center City Partners. Unlike in larger tech hubs, startups and smaller companies don't have to contend with industry giants when recruiting candidates in Charlotte. In other major cities, such as Austin, they're up against not only "the salary of Google, but the coolness of Google," LaBar explains. LaBar calls the tech talent Charlotte's "secret." By the numbers: The average wage for a tech worker in Charlotte is $97,044 — far below $192,969 in the San Francisco Bay area or $119,983 in Austin, according to commercial real estate firm CBRE. CBRE ranks Charlotte among the top markets for high-tech job growth, with the pool expanding 19.3% to 71,050 workers between 2018 and 2023. Zoom out: The Triangle's well-established tech ecosystem has helped the region attract big employers like Wolfspeed, Fujifilm Diosynth and Meta. The Raleigh-Durham market now boasts 75,150 tech workers, an increase of 17.9% between 2018 and 2023. What's next: Charlotte Center City Partners emphasizes tech in its latest "State of the Center City" report, an annual publication designated to persuade prospective investors and companies of the area's potential. This year's book, titled "Innovation Meets Momentum," highlights Charlotte's intention to transition into an innovation destination. Center City Partners is supporting the establishment of the North Tryon Tech Hub in Uptown, where UNC Charlotte opened CO-LAB, a dedicated space for entrepreneurs. "Charlotte is not renowned for its entrepreneurship, yet it has a really strong community," says Michael Smith, president and CEO of Center City Partners.
