"Uptown's office buildings are nearly 25% vacant, according to Cushman & Wakefield's Q1 2026 report, while the Midtown-South End market is at 11% vacancy, indicating a demand for space."
"Spandrel Development Partners recently filed construction permits to redevelop 400 South Tryon, a 30-plus-story building from the '70s, into residential, hotel and retail space."
"Charlotte Center City Partners estimates that the public and private sectors are investing $2 billion in announced conversions and renovations, including the $800 million Bank of America Stadium upfit."
"The Brooklyn & Church project is converting the '70s-era Duke Energy headquarters on South Church Street into 460 luxury apartments by the end of 2027."
Landlords are struggling to fill older office towers in Uptown due to a trend known as 'flight to quality,' where companies seek newer buildings with modern amenities. Uptown's office vacancy rate is nearly 25%, significantly higher than the 11% in the Midtown-South End market. To adapt, developers like Spandrel Development Partners are repurposing older buildings, such as the 400 South Tryon tower, into residential and retail spaces. Significant investments are being made in conversions and renovations, with new projects expected to revitalize Uptown in the coming years.
Read at Axios
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