Major New Development Could Transform Ballantyne
CHARLOTTE, N.C. – A major new development could transform part of South Charlotte over the next decade.
“Ballantyne Reimagined” will bring thousands of new residents to the area, raising concerns about traffic and the strain on current infrastructure.
Plans call for transforming 455 acres near I-485 into a mixed-use development including housing, retail, and office space.
It will be built behind the Ballantyne Hotel in two phases over 12 years.
Northwood Investors bought the land from the Bissell Company two years ago in what was the largest single real estate transaction in Charlotte history.
“Well I think it’s very significant,” says Victoria Nwasike with South Charlotte Partners.
She says attracting business and new residents is important to keep Charlotte’s economic engine roaring.
“I think this is going to help us do that. But we also have to remain conscious of how it might affect the greater community,” Nwasike explains.
The project will include 2,200 multi-family residential units, 300 townhomes, and 400,000 sq. feet of office space.
It will also include an ampitheatre, park space, and a possible grocery store.