Chicago-based Riverside Investment & Development Co. has made a change to its plans for a massive mixed-use project on the edge of South End and uptown Charlotte.
The $750 million project at 1111 S. Tryon St., called Queensbridge Collective, is scheduled to begin site preparation work before the end of the year, Anthony Scacco, chief operating officer at Riverside, told Charlotte Business Journal. Riverside’s land development and foundation permits should be approved in early December at the latest. Scacco said they will begin site work immediately upon receiving those permits. The development is slated to deliver in 2025.
The mixed-use development was originally envisioned as a 42-story, 750,000-square-foot office building, a 38-story apartment building with 350 units and a 30-story, 300-unit apartment building.
Scacco said the plans have changed slightly since details were announced in March. Geotechnical analysis earlier this year revealed that the level below water table is higher than they originally thought. For this reason, Riverside chose to consolidate the two apartment towers into one, larger building. This, he said, allows for a more efficient above-ground parking structure.
The tower will include parking at levels two through nine, as well as 20,000 square feet of ground-floor retail.
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