Charlotte’s Brooklyn & Church: $251 Million Office Conversion Project

News Summary

A transformative $251 million project, Brooklyn & Church, has begun financing to convert the former Duke Energy headquarters in Charlotte into a vibrant residential community. This initiative will see the conversion of a 778,000-square-foot office building into 460 residential units, alongside 50,000 square feet of retail space. Spearheaded by a joint venture including the Rockefeller Group and MRP Realty, the project aims for completion in late 2026 or early 2027, enhancing urban living in Uptown Charlotte.

Transformative $251 Million Office-to-Residential Conversion Project ‘Brooklyn & Church’ Begins Financing in Charlotte

A significant shift is underway in the heart of Charlotte, North Carolina, as a joint venture embarks on an ambitious project valued at $251 million. The Brooklyn & Church conversion project, spearheaded by the Rockefeller Group, MRP Realty, and Asana Partners, is set to transform the former Duke Energy headquarters into a vibrant residential community.

A Bold New Vision for Urban Living

At the core of this venture is the conversion of an expansive 778,000-square-foot office building into 460 residential units. This former office tower, built in the 1970s and standing tall with 14 stories at 526 S. Church St., will undergo a comprehensive overhaul to meet modern living standards.

Bank of America has stepped in with a substantial $140 million construction note to kickstart the financing process. With the current initiative, the developers are actively decommissioning the building’s utilities to pave the way for exciting changes. Exterior demolition work is expected to commence next month, signaling the beginning of an era of transformation in the Uptown Charlotte area.

Modern Amenities and Retail Space

Completion for the Brooklyn & Church project is projected for late 2026 or early 2027. Plans include a complete redesign of the building’s façade, installation of modern windows, and the construction of chic balconies that enhance the appeal of urban living.

As part of the transformation, a new 50,000 square feet of retail space will be introduced, which includes 30,000 square feet within a newly constructed three-story building. A 60-foot walkway will bridge the residential space with the retail area, further enhancing pedestrian accessibility and creating a seamless integration of lifestyle and commerce.

A Historic Shift in Use and Design

The Brooklyn & Church initiative represents an insightful approach towards adaptive reuse, as it preserves the core and shell of the existing office structure while reinventing its purpose. The conversion process presents inherent challenges, especially given that office floorplans typically differ significantly from multifamily unit designs. However, the area boasts a remarkable Conversion Feasibility Index (CFI) score of 81, underscoring the site’s promising potential for such transformations.

Currently, there are nine other office properties in Charlotte holding higher CFI scores, indicating an ongoing trend towards converting underutilized office spaces into valuable residential options. As of January, Charlotte’s pipeline included a staggering 1,787 multifamily units in the conversion stage, representing a 107% increase from the previous year.

Enhanced Quality of Life in Uptown Charlotte

Similar projects are flourishing in metropolitan areas across the country, including Manhattan, as urban developers recognize the need for more mixed-use environments. The Brooklyn & Church project aligns with the Rockefeller Group’s vision to revitalize urban settings by redeveloping existing structures in ways that enhance the quality of life for residents.

This transformative initiative aims to create modern loft-style apartments, thereby setting the stage for a lively retail landscape that corresponds with the needs and desires of contemporary city dwellers. As construction moves forward, the Brooklyn & Church project is poised to rejuvenate Uptown Charlotte and establish itself as a compelling new mixed-use destination for locals and visitors alike.

Looking Ahead

As the city prepares for this substantial transformation, the Brooklyn & Church project is more than just a construction effort; it represents a significant shift in Charlotte’s urban landscape, moving from traditional office formats to innovative spaces that cater to the needs of today’s residents. With a keen eye on the future, the project holds the potential to redefine urban living and invigorate community engagement in Uptown Charlotte.

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Additional Resources

• Multi Housing News: Rockefeller JV Secures Debt for $251M Charlotte Conversion
• Wikipedia: Real Estate Development
• Yield Pro: Brooklyn Church
• Google Search: Brooklyn Church Office Conversion
• WCCB Charlotte: Charlotte’s Office to Apartment Pipeline Doubles
• Google Scholar: Office Conversion Charlotte
• Axios: Developments and Construction Groundbreakings in Charlotte
• Encyclopedia Britannica: Charlotte Real Estate