ATCO and Shorenstein JV Reveal New Renderings and Plans to Construct Next Phase of Office, Retail and Residential Space at the 76-Acre Site
ATCO Properties & Management (“ATCO”), an owner and operator of high-quality office, residential and mixed-use properties across the U.S., in partnership with Shorenstein Properties LLC ("Shorenstein"), an owner and operator of high-quality office, residential and mixed-use properties across the U.S., today released a set of new renderings related to Phase II of its redevelopment plan at Camp North End, continuing the transformation of the 76-acre former industrial site into a hub for work, dining and hospitality, entertainment, and recreation.
As part of Phase II, ATCO and Shorenstein, along with its design architect, S9 Architecture and architect of record BB+M Architecture, are preparing to construct 120,000 square feet of Class A office space and approximately 15,000 to 20,000 square feet of retail. The plan includes two adaptive-reuse office buildings located at 201 Camp Road and 701 Keswick Avenue, as well as near-term plans for new construction multifamily and a parking garage.
The project team is also in the preliminary planning stages for several other buildings on site, which includes the renovation of the historic Ford Factory, which dates back to 1924 and was once a manufacturing plant for Model T and Model A cars. Earlier this year, the Ford Factory received a local historic landmark designation.
Construction work on Phase II will begin in early January 2021 and is expected to be completed by early 2022. Phase I, which was completed in the summer of 2020, involved the renovation and leasing of 70,000 square feet in buildings facing The Boileryard and The Mount, two of the project’s districts. The grand opening of the Gama Goat Building (1801 N. Graham Street) and the site’s main retail thoroughfare, Keswick Avenue, where ATCO achieved 100% occupancy for its four food stalls, was also completed.
“Today’s milestone is a big step forward in our efforts to redefine the modern work environment, to enliven the commercial center of the North End, and to create a place where creativity and innovation thrive,” said Damon Hemmerdinger, Co-President of ATCO Properties & Management and developer of Camp North End. “By delivering new office, retail, and residential space just a mile outside of Uptown, we view it as an incredible opportunity for the city to continue to attract employers and retain talent in Charlotte.”
“Camp North End is a primary hub for work, dining, and recreation, and we are pleased to continue safely serving the North End community and the greater city of Charlotte,” said Matt Knisely, Managing Director at Shorenstein Properties. “Today’s announcement is a testament to Camp North End’s initial success, and we look forward to expanding our offerings with the kick-off of Phase II.”
“This is an important milestone in the redevelopment of Camp North End, which serves as a unique Center City development helping differentiate Charlotte from our competitors,” said Michael Smith, President and CEO of Charlotte Center City Partners. We are grateful for ATCO and Shorenstein’s next phase investment advancing Camp North End, which is an important focus area of the 2040 Center City Vision Plan. This project will help better position Charlotte to rebound from COVID-19 while providing opportunities for businesses to thrive and vibrant space for our residents and guests to come together.”
The launch of Phase II follows a number of recent leasing successes at Camp North End over the last year. On the office side, new additions include solar energy company Pine Gate Renewables, technology firm CloudGenera Inc, and outposts for innovation teams from Fortune 500 companies like Ally Bank.ATCO has also welcomed 13 new retail tenants to the site, including Chef Greg Collier’s newest restaurant, Leah & Louise, gourmet bakery Wentworth & Fenn, taproom Free Range Brewing, specialty cocktail company Black Moth Bars, dessert stand Popbar, used bookstore That’s Novel Books, boutique fitness center bloc, specialty paper goods shop Good Postage, plant shop GROW, and a variety of food stalls including La Caseta, Bleu Barn Bistro, SARU by Bow Ramen and Plant Joy.
Camp North End has been widely recognized locally and nationally by the architecture and design community for its excellence in design and innovative adaptive re-use methods. In the summer of 2020, the Gama Goat Building was awarded the 2020 Southeast “Best Project” the in renovation/restoration category from Engineering News-Record (ENR), and was recognized as a finalist in the Charlotte Business Journal’s annual “Heavy Hitters” commercial real estate awards.
As a national leader in occupant health and wellness, Camp North End was one of the first four developments in North America to receive Fitwel Community Certification from the Center for Active Design (CfAD), a national building standard that focuses on optimizing holistic health benefits in neighborhood-scale projects. Camp North End’s health and wellness offerings include ample outdoor amenities, such as direct access to a quarter-mile covered walking loop, open-air spaces for meetings, bike storage, community gardens and public art; no shared lobbies or elevators; private restrooms; individual HVAC systems; and multiple direct entrances and exits so tenants can be thoughtful about the safest traffic flow in and out of the space.
A Cushman & Wakefield team led by Jessica Brown, David Dorsch and Grant Keyes are the exclusive leasing agents for the office component of the property.
For more information about the project, visit the official Camp North End website at https://camp.nc/ or follow along on Facebook, Twitter, Instagram, and LinkedIn at @ campnorthend.
About Camp North End
Camp North End is a state-of-the art creative development that is being designed and curated to cater to today’s most innovative and cutting-edge companies in Charlotte’s up-and-coming North End Smart District.
As one of the largest adaptive reuse projects currently underway in the U.S., the project is transforming a historic 75-acre site where people once manufactured Model T cars and assembled US Army missiles into a catalytic hub of creativity and ideas.
With over 300,000 square feet of space already redeveloped for work, artistic expression, dining and hospitality, entertainment, recreation and community building, and another 1.5 million square feet on the way, Camp North End's curated development will drive growth at the businesses that join its community.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on creating value through placemaking and other strategies in urban locations. ATCO seeks to improve people’s lives by creating places where they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. ATCO presently owns and manages more than 25 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to a mixed-use former military base. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South, 515 Madison Avenue and the Atlas Terminals. Nationally, the company owns properties in Charlotte and Chapel Hill, NC; Austin, Texas; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut. Internationally, ATCO has investments in seven European countries.
About Shorenstein Properties LLC
Founded in 1924, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein has sponsored twelve closed-end investment funds with total equity commitments of $8.8 billion, of which Shorenstein committed $723.5 million. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. These funds have invested in properties totaling 67 million square feet in transactions with a gross investment value in excess of $16 billion. More information is available at www.shorenstein.com.
