NationsBank announced today that the Trammell Crow Company and The Keith
Corporation have formed a joint venture to redevelop much of the CityFair
block for the bank and for other tenants who want space in center city Charlotte.
August 27, 1998
Contact: Ellison Clary, (704) 386-8633
NationsBank announced today that the Trammell Crow Company and The Keith
Corporation have formed a joint venture to redevelop much of the CityFair
block for the bank and for other tenants who want space in center city Charlotte.
NationsBank will occupy significant space in the new development at 214 North Tryon Street that promises to bring more people to Charlotte's center city for work or leisure or both.
The centerpiece is a 930,000-square-foot, 45-story office tower and retail complex. NationsBank will occupy approximately half the 820,000 square feet of office space in the tower. The development will include 40,000 square feet of retail space and a 1,400-vehicle parking deck. The old Carolina Theater will be left standing and available for someone to rehabilitate.
"We are proud to announce this creative and visionary plan to inject even more vitality into the North Tryon and North College street corridors," said James H. Hance Jr., vice chairman of NationsBank. "This part of our center city is where business, commerce and the arts increasingly are coming together and thriving on their association with each other. We feel this development will offer more of the good thing we already are enjoying."
The footprint of the $160 million development will be the land where Kimbrell's Furniture Mart and CityFair now stand. Demolition of CityFair will begin early next year and construction of the new project will be completed in late 2000.
Untouched by the project will be the old Montaldo's building that NationsBank is redeveloping for the Mint Museum's Center for Craft and Design, the Ri-Ra Pub, Richa Graphics and the Kothe-Howard building. The project will return to the Carolina Theater space for the backstage portion that was lost during the construction of CityFair.
In the future, if the City of Charlotte is presented with a plan that it likes for restoration of the Carolina Theater, the development has set aside $1 million to help get that done.
Designed by Smallwood, Reynolds, Stewart, Stewart & Associates (SRSS) of Atlanta, the development features a high-rise element that combines horizontal bands of glass with strong vertical piers of stone and precast concrete. It is square with inset corners, similar to the NationsBank Corporate Center. Unlike the Corporate Center, the corners of the new high rise will expand from the main shaft as the building rises, creating a dramatic profile with the largest floorplans near the top of the tower.
The top four floors will grow smaller as they rise to create a crown-like, pyramid effect. This crown will feature stainless steel, aluminum and glass and will help the new building relate well with the IJL Financial Center, also designed by SRSS, and the NationsBank Corporate Center.
The 214 North Tryon project can be renamed for a significant tenant who commits to occupy space, Hance said. Interested parties should contact Trammell Crow. NationsBank will leave more than 400,000 square feet of available space on 19 floors. About 3,500 people ultimately will work in the high-rise building that will be 611 feet tall.
"NationsBank is proud to be growing along with Charlotte," Hance said. "We want to nurture a vibrant, working community in Charlotte's center city. We hope first-class facilities like this one will convince leaders of other forward-looking companies they should bring a large presence here, to help maintain and enhance Charlotte's economic vitality."
The project will feature a people-friendly courtyard on North Tryon Street in the Kimbrell's footprint. Lined with trees, shrubs and benches, the courtyard will lead to the front entrance of the high rise where there will be water pools, fountains and shops and restaurants.
Retail establishments will line the North College Street side, encouraging more pedestrian traffic where walkers increasingly are evident during daytime and in the evenings. The Overstreet walkway will connect the NationsBank Corporate Center complex to the new project and there will be retail on that level as well.
NationsBank and the project developers will help relocate the current CityFair tenants. Some may operate in the new development.
The 1,400 parking spaces will be on nine lower levels above the retail shops facing College Street. The parking deck at CityFair holds 700 vehicles.