CHARLOTTE, N.C. — A long-anticipated redevelopment of a key site in Charlotte's SouthPark will begin in the coming months.
Tenants have vacated The Colony apartments and demolition is expected to begin shortly — likely later this month, said Tim Hose, president and CEO at Synco Properties, which is working on the redevelopment with Schlosser Development Corp. out of Austin, Texas. The Colony apartments were built in the early 1970s and cover a 27-acre site at Colony and Sharon roads. Tenants were notified July 1 that they would need to vacate by Nov. 26, Hose said.
The developers are currently working to close on their financing for the project's first phase, Hose said. Demolition is expected to finish in January, with site work on the first phase likely beginning in February.
The first phase will include 280,000 square feet of retail space and 340 apartments, including about 18 units of workforce housing, Hose said. The retail portion will be anchored by a 68,000-square-foot Publix grocery store and a Life Time Fitness facility. Leases with other retail tenants are "very close," he said.
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