By Ashley FaheyReal Estate Editor, Charlotte Business Journal
The next phase of Camp North End will bring in more adaptive-reuse space, as well as new construction and residential development.
New York-based ATCO Properties & Management and Shorenstein out of San Francisco are beginning work on 201 Camp Road and 701 Keswick Avenue, adaptive-reuse commercial projects that will deliver in early 2022. Those projects will bring about 120,000 square feet of office space and between 15,000 and 20,000 square feet of retail space to market.
Plans for the second phase were revealed last month through public filings.
Later this year, the firms will embark on a new-construction apartment project as well as structured parking. Damon Hemmerdinger, co-president at ATCO, said Wednesday that demolition and abatement for the parking garage will take place through the spring, with the structure to break ground shortly afterward.
Work on the apartments will begin in the second half of this year, with units likely delivering in about 18 months. It’s not certain yet whether ATCO and Shorenstein or another developer would build the apartments.
Estimated construction value for the office and retail space in phase two is north of $50 million. ATCO and Shorenstein are working with a design architect, New York-based S9 Architecture, on the plan.
The project is moving forward through continued uncertainty for the commercial real estate industry because of the Covid-19 pandemic.
Hemmerdinger said he believes having no elevators or lobbies, access to outdoor space, and individual building systems for each tenant will be appealing for companies in a post-pandemic world. ATCO recently created a prebuilt office space at the project’s Gama Goat building, which is naturally divided into two 45,000-square-foot spaces.
The retail space being added in the second phase, most of which will be at 701 Keswick, is expected to be heavy on food and beverage uses, he said.
While things like programming have changed because of the Covid-19 pandemic, Hemmerdinger said plans for capital investments at Camp North End largely have not.
“Phase two looks very much like phase two early concept drawings looked, before the pandemic,” he continued.
ATCO in the fall was seeking submissions from local Black architects to design retail pavilions at 701 Keswick. Hemmerdinger said this week that architect selection is still being finalized.
Camp North End encompasses 75 acres and millions of square feet of warehouse space, which will be retrofitted into new commercial space in phases. So far, ATCO and Shorenstein have completed the Raceway Building, The Boileryard, The Mount, the Gama Goat building and Keswick Avenue, the project’s main retail thoroughfare.
Future phases will include renovation of the 1920s-era Ford Model T factory, the property’s oldest building at the heart of the site. It recently received a local historic landmark designation.