Crescent Communities to Bring Whole Foods Market to Uptown Charlotte in Mixed-Use, Transit-Oriented Development

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    Client News

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    February 10, 2015

Crescent Communities to Bring Whole Foods Market to Uptown Charlotte in Mixed-Use, Transit-Oriented Development

Client News

Crescent Communities has unveiled plans for a mixed-use, transit-oriented development (TOD) that will bring Uptown Charlotte its first Whole Foods Market. The company's plans for the 5.4-acre site at the Lynx Light Rail's Stonewall Station define a new model of urban living for the area and complement its Tryon Place mixed-use development to redefine the city's Stonewall corridor.

The plans feature a 47,000 square-foot Whole Foods Market, 450-unit luxury apartment community and parking deck along with retail and up to two hotels.

"It is our vision that this Crescent community will redefine urban living in Charlotte," said Ben Collins, regional vice president for Crescent. "Whole Foods Market will be Uptown's first full-sized grocery store. Its size, combined with Whole Foods Market's holistic approach to the shopping experience, will allow residents, commuters and visitors to enjoy Uptown in an entirely new way."

Located at the southwest intersection of Stonewall and Caldwell streets, the community will be directly connected to the Stonewall Station, which serves popular Uptown destinations including the NFL Carolina Panthers' Bank of America Stadium, Levine Center for the Arts, and the Charlotte Convention Center. With free-flowing access to Whole Foods Market, it represents one of the nation's most accessible transit-oriented grocers and is perfectly situated for everyday Uptown living.

"We've enjoyed being part of the Charlotte community since 2012 and are excited about the city's continued growth," said Jeff Turner, executive coordinator of operations with Whole Foods Market. "We look forward to offering both convenience and a gathering place to our future neighbors and Uptown's visitors."

Whole Foods Market, residences and hotels also complement the plans for Crescent's Tryon Place, just west of the site. Tryon Place, on more than three acres at the corner of Stonewall and Tryon streets, is a planned mixed-use community with Class A office, restaurants, retail and full-service hotel.

"We see a strategic opportunity for Crescent to create something transformational for Charlotte along South Tryon Street and the Stonewall corridor," said Crescent CEO Todd Mansfield. "With a new mix of development for this part of Uptown, our plans will enhance the area's walkability, encourage engagement, and further connect the city's core with South End. It's very reflective of the growth and sustainability that the community asked for in the Center City 2020 Vision Plan."

Crescent's approach to development is centered on building a sense of community for residents, workers and visitors through thoughtful design and engaging social spaces. In addition to a raised, transit-level public plaza, the new project at Stonewall and Caldwell includes a resident-only outdoor amenities area. Designed atop the parking deck, the resort-style pool and outdoor living space offer uninhibited views of the skyline looking up Tryon Street. The two residential buildings include a mid-rise as well as a high-rise with fewer but larger and more luxurious units, providing a boutique feel.

Crescent will break ground on the new community on Stonewall Street this year and is targeting 2017 for its opening date.

Bill Moseley of Moseley Real Estate Advisors represented Whole Foods Market. Lord Aeck Sargent and Preston Partnership LLC provided site planning and design services for Crescent Communities, and Land Design is the civil engineer.

About Crescent Communities

Crescent Communities, LLC is a leading real estate investment and operating firm driven to create long-term value by developing thoughtful, sustainable communities that improve people’s lives. Founded in 1963, Crescent’s original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops properties in the Sunbelt and Mid-Atlantic markets that represent more than 50% of the U.S. population growth over the next decade. Its multi-product platform includes residential, multi-family, mixed-used, commercial and land assets, valued in total at $1.2 billion. Crescent’s robust capital deployment, seasoned leadership team, and model of sustainability enable the company to maximize opportunity in a recovering real estate market.

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