Armada Hoffler Properties Inc. will be the majority partner in a joint venture to develop Ten Tryon, a new 215,000-s.f. urban mixed-use project located in Uptown Charlotte’s Fourth Ward, known as the North Tryon area. The project will be a part of the larger North Tryon Vision Plan that is geared toward developing and sustaining growth in the North Tryon area. The new 15-story building is expected to be designed to LEED (Leadership in Energy and Environmental Design) standards and will be located on North Tryon Street, between 9th and 10th Streets.
Plans for the project include 175,000 s.f. of Class A office space anchored by a Fortune 100 company, a new Publix grocery store on the street level, an indoor/outdoor rooftop restaurant and a 340-space parking garage. Total development and construction costs for Ten Tryon are expected to approximate $95 million.
Armada Hoffler Construction Co., a wholly owned subsidiary of Armada Hoffler Properties, will serve as the general contractor for the project; the company anticipates breaking ground during the second quarter of 2020 with expected completion in the summer of 2022.
“Ten Tryon has everything we look for in a new ground-up development project,” said Louis Haddad, president and CEO of Armada Hoffler Properties. “From its urban infill location in Charlotte, one of the fastest growing markets in the country, to its mix of office and retail spaces anchored by high-quality tenants in close proximity to the neighboring apartment communities, Ten Tryon will be one of our signature projects. We are extremely optimistic about Charlotte’s continued growth as demonstrated by this, our third major investment in the city.”
