Mixed-Use Development Projects in Charlotte, NC, to Include Self-Storage

Update 5/17/16 – The Charlotte City Council this week approved the self-storage project proposed by Pamlico Investments as well as another submitted by Real Estate Investment Fund LLC, but rejected a third development submitted by Stor-All Properties Inc.

Update 5/17/16 – The Charlotte City Council this week approved the self-storage project proposed by Pamlico Investments as well as another submitted by Real Estate Investment Fund LLC, but rejected a third development submitted by Stor-All Properties Inc.

The mixed-use building to be developed by Pamlico will comprise 117,000 square feet, including 10,000 square feet designated for ground-floor retail or office space. The council approved the project despite a recommendation to vote it down by city staff.

The Real Estate Investment Fund project will be developed with local self-storage operator DMI Storage, which has five locations under various names in the Carolinas. The mixed-use development on 2.5 acres along Prosperity Church Road will include 101,000 square feet of storage and up to 17,400 square feet of offices, restaurants and shops, according to a source. The project received high praise from councilmember Claire Fallon, who said, “If we’re gonna have them, this kind of development is the best. If you’re going to do it, do it with something else that’s an amenity for the community.”

The council rejected the self-storage portion of the Stor-All proposal, which also included 69 townhomes to be developed in the Steele Creek area by BNA Homes. The council separately approved the townhomes petition and then voted against the self-storage development, according to a source. The Stor-All project would have included a two-story facility built on 4 acres along South Tryon Street. The townhomes will be built on an adjacent, 9.5-acre parcel. “If I was going to invest in a townhome that we just approved [on this site], I would not want to have a storage unit at my entrance,” Vi Lyles, mayor pro tem, said during the meeting.


2/8/16 – Officials in Charlotte, N.C., are considering two mixed-use projects that would include self-storage. Colorado-based developer Pamlico Investments Inc., which specializes in self-storage, intends to construct a building up to five stories and 150,000 square feet that would include offices, restaurants and shops in addition to self-storage. A second project proposed by 1101 Central Group, a real estate investment company, would include retail and up to 125,000 square feet of self-storage, according to a source.

The Pamlico project is called Belmont Mills and would be constructed on 1.4 acres at the southwest corner of East 10th Street and Seigle Avenue. The development would replace a former gas station and empty houses. The project would require rezoning approval and is scheduled to be reviewed by the Charlotte City Council on April 18, a source reported.

The project proposed by 1101 Central Group is called Central Storage and would be constructed on an empty parking lot near the intersection of 10th Street and Central Avenue. The facility would be built behind an existing building at 1101 Central Ave. The retail portion of the project would be featured on the ground floor. The project also would require rezoning and is scheduled to be examined by the council in April, according to a source.

Both projects are within a half-mile of each other and in an area where there are more than 1,000 new apartment units under construction along Central Avenue.

Sources:

TAGS: Zoning News
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