Duke Energy building sales to bring apartments, hotel and shops to uptown sites

CHARLOTTE — Duke Energy Corp. has buyers for its final two uptown properties. That will make way for a major hotel, retail, office and residential complex on South College Street and an apartment development with a 14-story tower and at least 50,000 square feet of retail space on South Church Street.

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“Divesting these properties allows us to consolidate our office space in uptown Charlotte as we prepare to transition into Duke Energy Plaza, our new headquarters in uptown Charlotte, reducing office space from 2.5 million square feet to 1 million square feet,” says Duke spokeswoman Caroline Portillo. “We expect to close on the sales in late 2022.”

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None of the companies involved are disclosing the purchase prices. The Duke headquarters at 526 S. Church St. is valued for tax purposes at $87.5 million. Its property at 401 S. College St., which is near the Charlotte Convention Center, is valued at $50.8 million. Given the uses planned for each site, the purchase prices will be significantly more than the tax value.

Read more about plans for the sites here. 

(Watch the video below: Duke Energy estimates 750K customers could lose power across Carolinas due to winter storm)

Duke Energy estimates 750K customers could lose power across Carolinas due to winter storm

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