CHARLOTTE, N.C. - As it puts the finishing touches on its Stonewall Street development, Charlotte multifamily developer Northwood Ravin is readying another uptown site for an apartment project.
Northwood Ravin will develop 354 apartments and 8,500 square feet of ground-floor retail on the site of the the former Polk building, a development called 500 West Trade. Similar in structure to its 550 Uptown at Stonewall project, Northwood Ravin will split units between a seven-story midrise and a 14-story tower.
Apartments have been long planned for the site, which until demolition a few months ago was home to the 1920s-era James K. Polk building as well as surface parking. In 2008, Crosland and Trinity Capital Advisors sought to build 400 apartments and retail shops on that site, but those plans were shelved when the recession hit.
The site includes the entire 2.8-acre block bounded by West Trade, North Graham and West Fifth streets and Wilkes Place. 500 West Trade will be in close proximity to the future Gateway Station, the first phase of which the Charlotte Area Transit System broke ground on last year.
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