Fallon, Inlivian to Develop 1.4 MSF Centre South Mixed-Use Project in Charlotte
CHARLOTTE, N.C. — The Fallon Co. and Inlivian have unveiled plans for Centre South, a 1.4 million-square-foot mixed-use development in Charlotte’s South End neighborhood.
The 16.2-acre site will feature 330,000 square feet of office space, a hotel, 750 residential units and 145 affordable housing units. The developers expect to break ground on Phase I, which will comprise 310,000 square feet of office space, in 2021.
The project was formerly named Strawn Cottages and announced in 2016, but plans have changed dramatically since that time. Development costs are expected to be in excess of $400 million, according to the developers.
Inlivian, a nonprofit real estate holding company, will develop the affordable housing units, which will be reserved for residents earning 60 percent and 80 percent of the area median income (AMI). The locally based organization reports that as of April 2020, that was between $45,120 and $60,150 for a family of three.
“With construction at Centre South set to begin, we are proud to join the Fallon Co. in bringing to life our vision of creating a dynamic, healthy community of choice that provides quality housing for families with diverse incomes,” says A. Fulton Meachem Jr., Inlivian president and CEO. “The housing options made available at Centre South provide families with more choices along the housing continuum — from affordable rental to homeownership.”
Centre South will be situated between South Boulevard and Euclid Avenue, two miles south of downtown Charlotte. John Ball and Karah Stumler of Foundry Commercial will handle office leasing efforts on behalf of the owners.
“We respect this neighborhood’s history and culture, and understand the importance of Centre South to the city,” says Joe Fallon, founder and CEO of The Fallon Co. “We appreciate the trust put in us to deliver a project that will serve the entire community and we are proud to play a part in the transformation of this irreplaceable location.”
— Alex Tostado