Stonewall Station is located on the southeast corner of Stonewall Street and South Caldwell Street in the heart of downtown Charlotte, North Carolina, a major U.S. financial and business center.
The property will be developed as part of the Crescent Uptown development site, which comprises approximately 384,552 square feet of buildable space, including 459 apartments (121 high-rise; 338 mid-rise) and 47,500 square feet of retail space incorporating a Whole Foods store. The complex also includes 1,450 structured parking spaces for hotel, residential and retail use. The residential apartments, developed by Crescent Communities, feature an average unit size of 872 square feet, 9’6” ceilings and 7’ interior doors, granite counter tops, GE stainless steel appliances, kitchen islands and wood style flooring. The community amenities include a 3,500 square foot heated invisible-edge salt water pool with LED lighting and underwater sound, numerous water features and fire pits, and a 3,000 square foot skyline fitness center.
The Crescent Uptown development is prominently located in central Charlotte’s CityCenter/Uptown area, which is primarily confined within the bounds of I-277. This location affords direct access to all of Charlotte’s City Center/Uptown business, sports and entertainment venues, all major hotels, and restaurant and retail locations. In addition, the site sits adjacent to the area’s convention and exhibit spaces, including the NASCAR Hall of Fame and the Charlotte Convention Center, which features 280,000 square feet of contiguous exhibit space. Further, Bank of America Stadium, home to the NFL’s Carolina Panthers, and Time Warner Cable Arena, home to the NBA’s Carolina Hornets, are within easy walking distance to the hotel site.
The Crescent Uptown development also provides for direct access to the LYNX light rail at Stonewall Station. This isNorth Carolina’s only light rail system and has a daily ridership of over 15,000 people. Charlotte is the largest city in the state of North Carolina, the second largest city in the Southeastern United States and is the county seat of Mecklenburg County in which it resides. Charlotte is fifth fastest growing city in the country. The 2013 Census indicated a population of 2,493,040 within the sixteen county area which makes up the Charlotte metropolitan area.
Charlotte is home to Bank of America, the nation’s second largest financial institution, according to its assets, and Wells Fargo of San Francisco, making Charlotte the second largest banking center(after New York) in the United States. The city has eight Fortune 500 companies in its metropolitan area including: Bank of America, Lowe’s, Nucor Steel, Duke Energy, Sonic Automotive, Family Dollar, SPX Corporation, and Domtar Paper.
In addition, the Charlotte area includes a diverse array of businesses including food related companies such as, Chiquita Brands International, Harris Teeter, Lance Inc., Carolina Foods Inc., Bojangles’, Food Lion, and Coca Cola Bottling Co. Consolidated, and motor and transportation companies like RSC Brands, Continental Tire of the Americas LLC, Meineke Car Care Centers, and American Airlines (formerly U.S. Airways). Additionally, Charlotte is the major center of the motorsports industry in the United States and is home to numerous NASCAR offices, the NASCAR Hall of Fame, and the Charlotte MotorSpeedway located in Concord, NC. Approximately 75% of the NASCAR industry’s race teams, employees and team drivers are based out of the Charlotte area. In addition to NASCAR, in 2008 the National Hot Rod Association opened the only four concrete lane drag strip in the world with a 30,000 seat capacity. This is influencing top fuel professional drag racing teams and their shops to relocate to the Charlotte area.
In addition to finance, foodstuffs and motorsports, the Charlotte region has become a major hub for energy related companies and organizations. The region has more than 240 companies, employing 26,400 employees, in energy related industries. Since 2007 there have been more than 4,000 energy jobs announced in this growing sector. Some of the major players, include AREVA, Babcock and Wilcox, Duke Energy, Electric Power Research Institute, Fluor, Metso Power, Piedmont Natural Gas, Siemens Energy, Toshiba and Westinghouse.
Tourism also plays a substantial role in the region’s economic vibrancy and the Uptown hotels are the catalyst for much of the region’s tourism health.