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
This is a WEB EXTRA of The Charlotte Ledger. Sign up for free for our e-newsletter:
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.
Need to sign up for this e-newsletter? We offer free and paid subscription plans:
The Charlotte Ledger is an e-newsletter and website publishing timely, informative, and interesting local business-y news and analysis Mondays, Wednesdays, Fridays and Saturdays, except holidays and as noted. We strive for fairness and accuracy and will correct all known errors. The content reflects the independent editorial judgment of The Charlotte Ledger. Any advertising, paid marketing, or sponsored content will be clearly labeled.
Got a news tip? Think we missed something? Drop us a line at editor@cltledger.com and let us know.
Like what we are doing? Feel free to forward this along and to tell a friend.
Searchable archives available at https://charlotteledger.substack.com/archive.
Social media: On Facebook, Instagram, Twitter and LinkedIn.
Need an “Essential Charlotte Ledger” T-shirt? Order here.
Sponsorship information: email editor@cltledger.com.
Executive editor: Tony Mecia; Managing editor: Cristina Bolling; Contributing editor: Tim Whitmire, CXN Advisory; Reporting intern: David Griffith