The face of SouthPark is set to grow and change again after the City Council approved Jan. 19 a redevelopment plan that would raze and redevelop The Colony apartments, adding hotel, retail and residential space.
The $400 million plan passed unanimously, even with council members’ concerns regarding impact on the already-congested area. The new planned space will include more affordable housing and benefit the area, according to a Charlotte Observer report.
Fifty-five of the proposed 990 apartments will be designated affordable housing by the developers, the report said.
The project will turn the 27-acre, 353-unit Colony apartments into one of the largest mixed-use projects in the city.
In addition to building changes, the project will improve surrounding streets, traffic lights, turn lanes and pedestrian crossings.
Approved in the plans is a “225-room hotel, 250,000 square feet of office space and 300,000 square feet of retail space, including a grocery store,” the report said.
Construction could begin early 2017. The first phase would most likely include a grocery store, retail and apartments.
For more, see The Charlotte Observer report.