Cambridge Properties, a renowned commercial real estate firm based in Charlotte, has disclosed its ambitious plans to revitalize and redevelop the aging Mallard Pointe Shopping Center located in University City. Taking the first step towards this transformative project, the company recently filed two building permits with Mecklenburg County.
The initial phase of redevelopment will involve the construction of a 300-unit apartment complex, encompassing approximately 5,000 square feet of ground-floor retail space and a parking garage. This development is set to be located at the site of the former Kohl’s department store on 9315 N. Tryon St.
In a visionary move, Cambridge Properties aims to breathe new life into this retail property, transforming it into a vibrant, mixed-use community. By incorporating residential units, retail space, and ample parking provisions, the company intends to create a dynamic environment that caters to the diverse needs of the surrounding community.
The decision to demolish the existing Kohl’s department store reflects the company’s commitment to maximize the potential of this site. Embracing the principles of adaptive reuse and sustainable development, Cambridge Properties seeks to strike a balance between preserving the nostalgic heritage of the area and embracing modern urban living.
This redevelopment project not only holds the promise of revitalizing the Mallard Pointe Shopping Center but also presents an exciting opportunity for economic growth. The infusion of new businesses and residential units is expected to generate increased foot traffic and serve as a catalyst for further investment in the University City area.
Cambridge Properties’ ambitious vision for Mallard Pointe Shopping Center marks a significant milestone in the transformation of this retail property. As the project progresses through its various phases, the renewed vibrant community is poised to become a symbol of urban resilience and innovation.
1. What are Cambridge Properties’ plans for the Mallard Pointe Shopping Center?
Cambridge Properties plans to revitalize and redevelop the Mallard Pointe Shopping Center in University City. The first phase of redevelopment involves constructing a 300-unit apartment complex with retail space and a parking garage.
2. Where will the apartment complex be located?
The apartment complex will be located at the former site of the Kohl’s department store on 9315 N. Tryon St.
3. What is the goal of Cambridge Properties’ redevelopment project?
The goal of the redevelopment project is to transform the retail property into a vibrant, mixed-use community. By incorporating residential units, retail space, and ample parking, Cambridge Properties aims to create a dynamic environment that caters to the needs of the surrounding community.
4. Why is the existing Kohl’s department store being demolished?
The decision to demolish the existing Kohl’s department store is part of Cambridge Properties’ commitment to maximize the potential of the site. The company is embracing adaptive reuse and sustainable development principles, aiming to balance the preservation of the area’s heritage with modern urban living.
5. What are the potential benefits of the redevelopment project?
The redevelopment project holds the promise of revitalizing the Mallard Pointe Shopping Center and generating economic growth. The infusion of new businesses and residential units is expected to increase foot traffic and attract further investment in the University City area.
Key Terms and Jargon:
– Redevelopment: The process of renovating or rebuilding a property or area for a new purpose or use.
– Mixed-use community: A community or development that incorporates a mix of different land uses, such as residential, commercial, and recreational, in a single area.
– Adaptive reuse: The practice of repurposing an existing building or site for a new use, while maintaining its historical or architectural significance.
– Sustainable development: Development that takes into account the environmental, social, and economic impacts to meet the needs of the present without compromising the ability of future generations to meet their own needs.
– Foot traffic: The number of people walking or passing by a particular location, often used to describe the potential customer base for retail businesses.