T
he redevelopment of a former foundry site in Charlotte is underway, led by Trammell Crow Company, chosen by Charlotte Pipe & Foundry as the lead developer for the initial phase of the project. The Dallas-based real estate firm, a subsidiary of CBRE, will also serve as master planner for the 55.5-acre site located between uptown and the South End. This announcement follows reports from March that Trammell Crow was a top contender for the project, which could accommodate up to 7.75 million square feet of office, residential, retail, and hotel space upon full buildout.
The project, known as Iron District, reflects the Dowd family's vision to transform the century-old foundry site into a mixed-use hub. The development is situated between Interstate 77 and Interstate 277, providing easy access to uptown and the South End. City and county officials are also involved in discussions about infrastructure improvements to better integrate the site into surrounding neighborhoods.
The first phase of the project will cover approximately 12 acres along West Morehead Street, with construction expected to begin late next year or early in 2026. It will take about two years to build. The plans include a 150-key hotel, 500 residential units, 100,000 square feet of retail and restaurants, 150,000 square feet of office space, and 1,200 parking spots.
Trammell Crow's experience with large-scale urban projects and collaboration with local firms like LandDesign for site planning and infrastructure, S9 Architecture for master planning and design, and retail consultant Of Place have generated optimism for the redevelopment's impact on the city's landscape.
The Dowd family started Charlotte Pipe in 1901 and still operates it, although it moved its operation to rural Oakboro last year. The company will receive up to $15 million in incentives over 10 years from the North Carolina Economic Investment Committee for moving its plant from Mecklenburg to Stanly County.
Other news in the real estate sector includes Space Craft landing $94M financing for Mill District apartments, Fallon Co. nearing affordable development start in Charlotte's South End, and Asana and MRP starting a $250M office-to-resi conversion as rents normalize.
