Apartment tower planned for the Metropolitan
Plans filed with the city call for 330 apartments in a building up to 28 stories — which would easily be the tallest structure in Midtown
|Tony Mecia||Nov 5, 2020|
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The new owner of the Metropolitan development in Midtown Charlotte filed plans with the city on Wednesday to allow an apartment building of up to 28 stories on the property.
A site plan filed by Northwood Ravin calls for up to 330 apartments to be built on a 1.3-acre vacant parcel between the Trader Joe’s and Midtown Park right next to the Little Sugar Creek Greenway. The property was included in the $92.3M purchase of the Metropolitan development two weeks ago by Northwood Investments, which is a sister company to Northwood Ravin. Northwood also owns the Ballantyne corporate park and the Ballantyne hotel.
The vacant parcel has long been eyed for development. It was rezoned in 2014 by a previous owner to allow a 25- to 28-story building that would house a 175-room hotel and 155 apartments, but the land sat vacant. Northwood Ravin’s filing this week seeks to eliminate the hotel portion and go all-in on apartments in a building of up to 285 feet.
The outlook for the hotel industry is cloudy at the moment because of Covid, but demand for apartments throughout the city remains strong.
Northwood Ravin owns luxury apartment complexes in Charlotte including The Vue and Uptown 550 on Stonewall.
A building of that height would easily be the tallest structure in Midtown. Adding apartments could help the retail portion of the Metropolitan, which has had some closures of big spaces lately, including Staples and the restaurant Vivace.
Northwood’s rezoning proposal would be subject to a public hearing and a vote by the City Council over the next few months. The company is represented by the law firm Alexander Ricks.
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