New owners of Midtown shopping center plan a major refresh

New owners of Midtown shopping center plan a major refresh

Rendering courtesy of 505 Design/Metropolitan

Commercial real estate company Northwood Investors plans to overhaul the Metropolitan Shopping Center and give it a fresh look and a more pedestrian-friendly feel.

The “refresh” of the mixed-use center will begin in 2021, according to Jonathan Stewart, VP of leasing with Northwood Ravin. “Areas of focus include improving the retail and dining ‘front door’ atmosphere, strengthening connections among the outdoor spaces and transforming the pedestrian experience with engaging design elements,” Stewart said.

Zoom out: Northwood purchased Metropolitan and the land surrounding it last year for $92.25 million. The company has plans for a 28-story apartment tower for the site, the Charlotte Ledger first reported in November.

  • Northwood Investors is the commercial real estate company that bought the Ballantyne Corporate Park in 2017 for $1.2 billion, the biggest real-estate deal in Charlotte’s history. Northwood is in the midst of transforming the park into a hip destination with residences, retail, and entertainment.

Between the lines: In recent months, Metropolitan has had a few major tenants close their doors.

  • In January, West Elm closed its 13,000-square-foot store for good. This was West Elm’s first North Carolina store, and it was one of the original tenants of the Metropolitan when it opened in 2008.
  • Vivace, an Italian restaurant, closed in December 2019 after 11 years at the Metropolitan, as CharlotteFive reported.

Northwood declined to share the names of any new tenants. Renderings show placeholder names such as “Lululemonade,” “HK” and “Jani’s.”

Metropolitan midtown

Rendering courtesy of 505 Design/Metropolitan

Read Next Story

Hot Homes: 5 houses for sale in Charlotte starting at $230K

Next Post

Perfect Timing for a Free Wedding in Austin

Fri Feb 5 , 2021
Lollie May Martin and Taylor Brittany Maanao got married after five years together. But they say they actually fell so hard and so fast for one another that they wanted to get married after only six months. Ms. Maanao’s mother had strongly suggested they wait. “She told us that we […]

You May Like