Developer Trio Teaming Up on $500M Charlotte Development

Levine Properties, Northwood Ravin and Horizon Development Properties are working together on a $500 million redevelopment of the former Providence Square shopping center (photo). The total site encompasses 113 acres at the intersections of Old Providence and Providence roads and Sardis Lane. Plans for the project call for a combined 2,200 apartments and townhomes, 180,000 square feet of retail and 45,000 square feet of office space.

The Charlotte Business Journal reports all three developers own separate parcels and each will be approved together. The City of Charlotte and Mecklenberg County have offered up tax incentives.

Horizon will redevelop Gladedale Homes with up to 350 multifamily units and up to 50 single-family homes, with no more than 380 total units. The residences will be a mix of affordable, workforce and market-rate housing.

Plans for Northwood Ravin’s 20 acres include 650 multifamily units, 80 single-family attached townhomes and 15 single-family lots.

Levine will redevelop 85 acres with a mix of single-family and multifamily residences, up to 1,112 units. The developer will also build a grocery store.