Spotlight On: Michael Smith, President & CEO, Charlotte Center City Partners
July 2024 — In an interview with Invest:, Michael Smith, president and CEO of Charlotte Center City Partners, discussed key milestones and achievements over the last year, including Charlotte’s response to challenges, major development projects, the Tech Hub’s role in innovation, the transformation of Charlotte’s central business district, and the city’s outlook.
What are some of the key milestones and achievements for the organization over the last year?
We’re in a uniquely challenging time for city building. Downtowns worldwide have faced pandemic lockdowns, protests, altered workplace rhythms, inflation, and increased development costs. Roy Amara’s Law states that people overestimate the short-term effects of new technologies but underestimate long-term impacts, which applies to downtown disruptions. We need to play the long game and respond collectively as a community.
Charlotte is responding effectively. When asked how Charlotte is doing, I ask, “Which market would you rather be in?” With significant population gains of about 40,000 a year, many young, talented individuals are joining our workforce.
Our central business district is becoming a central activity district, with modern housing, diverse offerings, strong visitor appeal, thriving nightlife, and dynamic workplaces. There’s a divide between high-demand newer office spaces and less desirable older ones, but Charlotte continues to add substantial office space.
In 2023, we had 320 days of events at Bank of America Stadium, Spectrum Center, and Truist Field, including concerts, comedy, and competitions like the ACC and Jumpman Classic. Big concerts, such as Beyoncé and Luke Combs, were highlights.
City council recently increased its partnerships with Tepper Sports and Entertainment and with Hornets Sports and Entertainment, ensuring Bank of America Stadium and the Spectrum Center remain where they are. This means our MLS, NBA, and NFL teams are committed to Uptown Charlotte for the next 20 years.
We’ve also hosted successful events like the Loving Life Music Festival and Charlotte SHOUT!, a 17-day festival centered on arts, music, ideas, and food, which attracted 642,000 attendees and 1.2 million visitors, further establishing Center City as a premier destination for the Carolinas.
What are the key ongoing and upcoming projects in the downtown area?
Despite some headwinds, we have an enviable pipeline of projects, with $4.2 billion worth of developments in progress, which is down from over $7 billion last year due to project completions and removals. Our city benefits from healthy migration, strong institutional investor interest, and job growth, providing a solid foundation for this decade.
Since 2020, we’ve seen the development or delivery of 8 million square feet of new office space, 2,600 hotel rooms, 404,000 square feet of retail space, and 10,000 residential units, bringing in about 16,000 new Center City residents.
Key projects ahead include the Gateway Station, the new main Public Library, and South End’s incredible momentum, making it the hottest sub-district in the Southeast.
We have 10 shovel-ready mega-development sites in Center City, including North Tryon, The Pearl, and the Iron District. We’re excited about the North Tryon Tech Hub initiative, aiming to create an intersection of academics, entrepreneurship, and corporate innovation. This partnership includes UNC Charlotte, city and county leadership, major employers, and entrepreneurial community leaders. Levine Properties owns about 33 acres around First Ward Park and the Dubois Center, UNC Charlotte’s Uptown campus, and progress there is promising.
We also anticipate significant progress in The Pearl Innovation District, a partnership between Advocate Health, Wake Forest Medical School, and their development partner, enhancing sustainability and economic growth in our downtown area.
How is the Tech Hub fostering innovation and collaboration in Charlotte and helping the city rank in the Top 10 for high-tech job growth and office use?
The Tech Hub is an exciting initiative leveraging UNC Charlotte’s 30,000 undergraduate students and growing research capabilities. It will create a stronger connection between the university and our employment center, helping diversify our local economy.
Positioning UNC Charlotte at the forefront, the Tech Hub will showcase its research capabilities as it earns $277.7 million in active research awards. This will open commercialization opportunities for faculty and research labs.
UNC Charlotte’s success and our region’s success go hand in hand. Through strong leadership and a collective vision, the university has seen remarkable growth in its short history. Earning the nation’s highest research status, Carnegie R1, will be a clear signal to the business community of the excellence of research and of the university’s ability to lead unprecedented growth in place-based innovation.
Lastly, the Tech Hub will foster synergy between academic research and corporate innovation, driving high-tech job growth and office use, contributing to Charlotte’s Top 10 ranking in these metrics.
What are the latest developments regarding these projects, and how are they expected to transform the city’s connectivity?
Our Center City is unique because we have one central business and activity district. This centralization has been beneficial for decades, focusing on cultural arts venues, sports venues, convention centers, and high-level hospitality assets in one location.
We’ve invested heavily in modern infrastructure, including protected bike lanes, greenways, and the Rail Trail. The Rail Trail Pedestrian Bridge, set to begin construction in early 2025, will connect the South End to the Convention Center and Uptown. These rapid transit investments have stimulated and defined development over the past two decades.
Our elected leadership is committed to continuing these investments. With Charlotte welcoming 113 new residents daily, infrastructure planning is crucial. Working with local, state, and federal officials to create a shared vision for infrastructure bodes well for Charlotte’s competitiveness.
Center City, at the hub of greenways and rapid transit networks, is an attractive place for talent to live and work. This connectivity will transform the city’s infrastructure, ensuring it remains vibrant and dynamic for residents and businesses alike.
What specific programs or initiatives in the vision plan ensure diversity, equity, and inclusion?
Our 2040 vision plan will be remembered for its commitment to rapid transit investments, the maturation of our Center City neighborhoods, and a strong focus on diversity, equity, and inclusion. The plan includes bold recommendations, some still in the ideation phase and others already being acted upon. The beauty of this plan is that it brings the value of inclusive economic development to the forefront.
Our community’s commitment to DEI allows us to compete more effectively for jobs. Companies from the West have shown interest in tapping into our talented, prepared, and diverse workforce. Specific programs and initiatives include inclusive economic development policies that ensure all community members benefit from economic growth. We are also partnering with local educational institutions and businesses to create pathways for diverse talent through workforce diversity programs.
Additionally, our equitable transit-oriented development ensures that transit investments benefit all neighborhoods, particularly those historically underserved. Community engagement is another critical aspect, as we actively involve diverse community members in planning and decision-making processes to reflect their needs and perspectives.
What is your outlook for the city over the next couple of years, and what are your top priorities for that time frame?
We are very focused on preparing for the next economic cycle while continuing to win where we are. Ensuring the future of the Hornets and Spectrum Center, as well as Tepper Sports’ Charlotte FC and the Panthers at Bank of America Stadium, sets cornerstones for the next two decades. These foundational moves are crucial for maintaining the city’s vibrancy and attractiveness.
A key priority is long-term investment in our transportation infrastructure. This includes the $3.5 billion program for Charlotte Douglas International Airport and plans for the continued expansion of the CATS mass transit system. These investments are essential to support the growing population and to ensure smooth connectivity within the city.
We also have 10 mega-sites within Uptown where land assemblage has been completed. These sites will support our commitment to density and growth, accommodating a mix of residents, hospitality, employment, and convention uses. Our investments in Center City Charlotte build on existing infrastructure, making it versatile and beneficial for various uses. Center City continues to be a defining asset for the region.
Charlotte is a community that punches above its weight in several areas, particularly with Center City and our airport. These strengths, combined with strategic planning and investment, position us well for continued growth and prosperity.
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