New details about Ballantyne’s planned town center development show the project will include more residential units than previously announced, as well as additional retail and entertainment space and a possible grocery store.
Phase I, which will begin construction next year, will include 1,200 multifamily units, 300,000 square feet of retail and restaurants, and an amphitheater and green space. Developers said Monday it could also include a “possible grocery use along North Community House Road.”
Phase II calls for 1,000 multifamily units, 300 town homes and 400,000 square feet of office space.
Developers touted the inclusion of affordable housing included in the combined 2,200 multi-family apartments. About 175 units, or 8% of those planned, are set aside for families earning 80% of area median income, or about $63,000 for a family of four.
Northwood Investors bought the corporate park in 2017 from local developer the Bissell Cos. for $1.2 billion, the largest transaction in Charlotte real estate history.
A community meeting is set for 7 p.m. Aug. 28 at the Ballantyne hotel.
This article originally published in The Charlotte Observer.