(CHARLOTTE, NC) – Hines, the international real estate firm, announced today that it has been selected by the North Carolina Department of Transportation (NCDOT) as master developer for the Gateway Station complex in the heart of Charlotte’s Uptown District.
The Gateway Station project will be a multi-modal transit center that anchors transit-oriented and mixed-use development on approximately 20 acres of land in uptown Charlotte.
The project will serve as a landmark for the city and central hub for Amtrak, Greyhound bus service, CATS bus and streetcar service, regional commuter rail and Mecklenburg County’s greenway system, as well as aid in the redevelopment of the surrounding area.
As master developer, Hines will work with a variety of stakeholders in order to begin the process of creating a master development plan for the area, which is expected to generate numerous opportunities for planners, engineers, architects, contractors, and other developers to become part of the project as it moves through planning, design and implementation. The multi-modal station’s current estimated project cost of approximately $200 million could generate more than $1 billion in private investment. The project’s timeframe will be determined as part of the master development plan.
The complex will build upon the existing commercial, residential, cultural and educational institutions with the promise of strengthening the area to become one of Charlotte’s most attractive commercial, entertainment, retail and residential destinations. This vibrant area could serve as a bridge to reconnect and reenergize some of the city’s most diverse and historically significant communities and resources.
Additionally, the site is adjacent to many of the city’s major corporate, cultural and educational institutions and is anchored by Johnson and Wales University and Bank of America Stadium. The area enjoys linkage to the Uptown District, and is also linked to the neighborhoods of the Third and Fourth Wards.
Hines Senior Managing Director Kurt Hartman, who will lead the project said, “Hines is very excited to be able to work with the North Carolina Department of Transportation and the stakeholders on this venture and to expand our presence in Charlotte. This is an opportunity to create a game changer for Charlotte and North Carolina. With more than 20 acres in the center of this world-class city, this catalytic project will benefit local and state economies.”
Hines has a deep base of experience from which to draw and apply to the Gateway Station project. Having successfully completed multiple large-scale transit oriented developments (TODs) across the world, the Hines team collectively offers a wealth of award-winning experience that is pertinent to the development.
Additionally, the Hines team individually and collectively have an extensive network of private and public funding sources, including some of the largest and most sophisticated institutional investors in the world that are interested in large-scale TODs and urban revitalization projects.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.
Visit www.hines.com for more information.