Home News Local developer buys four sites at the corner of South Tryon and Remount Road

Local developer buys four sites at the corner of South Tryon and Remount Road

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318 Remount Road Photo: Ashley Mahoney / Axios

Providence Group Capital purchased four properties in the South End for $ 9.15 million, according to Mecklenburg County records.

what’s happening: Charlotte-based commercial real estate investment and development company purchased 1.75 acres at the intersection of South Tryon Street and Remount Road. The exact address is: 2513 South Tryon St., 2519 South Tryon St., 2535 South Tryon St., and 318 Remount Rd.

  • Lawrence Shaw and Rob Spier of Colliers International’s Charlotte office represented the sellers of this transaction.

Zoom out: The Providence Capital Group has a contract to purchase five more properties in South End / Loso by 2023. 13 properties in South End / LoSo last year.

What’s next: According to spokeswoman Lauren Farkenbury, the company has not yet made a concrete plan for the site.But they did Rezoning the parcel to TOD-UC (CD) — may feel like alphabet soup.

  • Consider public transport oriented development. This includes public transport oriented development. This includes the development of commerce, housing, offices and entertainment near public transport stations. Property.
  • UC means the city center and CD means conditional.
  • Providence Group Capital said in a statement that Cheap Joe’s Art Staff, Charlotte Community Toolbank and Morales Tires Autoshop will remain in their current location until the end of the year “before moving new facilities elsewhere.”

Important reason: The South End is booming and this will be the latest wave of development.But as the neighborhood grows, some businesses Price cut..

  • In addition, the property is opposite Brookhill as Danielle Chemtob in Axios. report It is one of the few affordable housing options left in the area.
  • Note: Raleigh businessman, Tom Hendrickson of Lookout Ventures Aimed to rebuild It was a devastated Brookhill apartment, but left the project in March because it couldn’t get enough public and private support.

Line spacing: Unlike Camden Road, which has new apartments and towers, and elsewhere in the area, this corner of the town hasn’t changed due to new developments … yet.

2513 South Tryon Street Photo: Ashley Mahoney / Axios

2519 South Tryon Street Photo: Ashley Mahoney / Axios

2535 South Tryon Street Photo: Ashley Mahoney / Axios

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