Centrum Realty & Development and Sorelle Capital filed a development plan for 1.8 acres in Charlotte that calls for a 422-unit multifamily development, a hotel, a parking structure, and a restaurant and bar. Centrum acquired the multi-parcel assemblage between 2021 and 2023. The Charlotte Business Journal reports Centrum paid $18 million for the parcels.

The first development phase will be a 130-room boutique hotel to be built on 1.14 acres.

The firms have spent the last five years acquiring high-profile development sites in South End, Dilworth and Elizabeth. The first project to break ground was an $85 million multifamily community at 1801 E. Seventh St., which went under construction in summer 2025.