Two Charlotte real estate firms are planning a 70,000-square-foot office and retail development at the intersection of West Morehead Street and interstate 77.
CitiSculpt and The Knox Group plan to start construction on the project later this year. A CitiSculpt spokesman says the building is still in the design phase but will include between 5,000 and 15,000 square feet of ground-floor retail space.
An affiliate of CitiSculpt purchased a 1.4-acre parcel at 1213 W. Morehead St. late last year for $1.5 million. The site contains an 18,000-square-foot building and is across from the southbound I-77 exit ramp on to Morehead. Ark Ventures Inc. bought the property for $750,000 in 2013 after it went into foreclosure and planned to renovate the existing building, but Ark principal Noah Lazes hinted that a sale was also possible.
CitiSculpt is headed by Lindsey McAlpine and Shane Seagle, who also manage Southern Apartment Group, a multifamily development firm that is planning a 326-unit apartment project at the intersection of West Morehead and Summit Avenue.
In a release, McAlpine says nearby bars and restaurants, easy access to the interstate and proximity to attractions such as Bank of America Stadium make the area appealing for creative firms.
“We are excited to meet the demand that is already here for those companies and workers wanting to be part of ‘Stadium West,’ ” he says.
The development team for the West Morehead project includes BB+M Architecture and LandDesign.
(via Charlotte Business Journal)