A New York City-based developer has spent millions to assemble a large site just north of uptown, and on Thursday said they’ve hired two Charlotte-based staff to help redevelop the area. ATCO Properties & Management spent $13.5 million to buy about 75 acres on Statesville Avenue in transactions that closed last year, Mecklenburg County real estate records show. The site was formerly occupied by a major Rite Aid distribution center (since moved to Spartanburg, S.C.) and Hercules Industrial Park, a former munitions depot and plant. The company plans to file to rezone the site in “early-mid 2017,” with the aim of creating a new mixed-use development called Camp North End. Although it says the plan will include “adaptive reuse” of the buildings on site, ATCO hasn’t released any details on the plan.
By 2020, Charlotte Center City will be the central hub of an “Applied Innovation Corridor,” beginning in SouthEnd, extending through Uptown and “NorthEnd”—a 5.6-square-mile[charlotteobserver.com] hip, artsy new sector north of Uptown along the North Tryon Corridor—and linking onward to the UNC Charlotte campus. While banking and hospitality institutions continue to serve as the economic backbone of Charlotte, new technologies, industrial sectors and emerging markets bring greater prosperity and investment to Center City. These sectors are looking to NorthEnd for development growth and opportunity. Currently under way in NorthEnd, the NewCamp Station Redevelopment Area, along with new initiatives like the Brightwalk community and the Fire Department Headquarters have built upon the area’s unique residential character and industrial history. The Hercules Industrial Park used to be a Ford Assembly Plant and later became a missile plant during World War II. The result of this revitalization effort: a distinctly walkable, mixed-use urban industrial park with distinctive neighborhoods, like Brightwalk and Tryon Hills. This area fosters an atmosphere of creativity, innovation and entrepreneurship; provides unparalleled connectivity for moving goods and people; and creates an exciting urban living and working experience linking the NorthEnd to NoDa (North Davidson), Belmont and the larger “Applied Innovation Corridor.”