Have you ever heard of the Corridors of Opportunity? Charlotte has six of them. These are vital areas intended to link residential communities with the businesses and resources they need to thrive. Unfortunately, these corridors have been historically underinvested in and have high unemployment and poverty rates. We believe knowing all of these Corridors of Opportunity is important and smart, especially for purchasing real estate and that includes for us, at 5 Points Realty.

5 Points Realty’s primary and original home is a 1931 bungalow located smack dab in the middle of one of the Corridors of Opportunity: Beatties Ford Rd/Rozzelles Ferry Rd.  Our office address is 415 Beatties Ford Rd., two Blocks from the named intersection. Since one of our broker/owners Michael Doney bought our building we have seen the positive changes the city hopes for in an area like this like the light rail built right in front of our office and new businesses popping up on Rozzelles Ferry Road. Doney and his builder partner have been a tremendous force of change in this area. They have renovated multiple homes and carefully built in-fill homes that honor the area’s historic charm. Watch the interview Michael Doney and Michael Hopkins did with WSOC-TV about their journey in the Biddleville community. 

Johnson C. Smith University anchors this part of Charlotte and is also a big player in this area and has invested in restoring buildings and building new ones. Murals of historic and relevant citizens are being painted along this corridor as well. It’s an exciting time to be a part of the change. 

Knowledge is Power

The City of Charlotte has put its money where their ideas are and has seen exceptional results. Take South Boulevard as a historic example.  

Here are the six Corridors of Opportunity the City has identified as needing more focus:

  • Beatties Ford Road / Rozzelles Ferry Road
  • Albemarle Road / Central Avenue
  • I-85 / Sugar Creek Road
  • West Boulevard
  • Graham Street / North Tryon Street
  • Freedom Drive / Wilkinson Boulevard

The City’s Vision

These areas are rich in history and pride. The city wants to celebrate that history, as it helps create beautiful, safe and prosperous communities where families can grow and build legacies. The intended result of this initiative is to provide high quality services and viable, long-term career paths for those neighbors. 

Projects envisioned for the Corridors include affordable housing, community safety, infrastructure, transportation, workforce and business development, and urban design. 

The City has established three main goals to carry through the vision.

  • Target employers to locate and expand 
  • Spark commercial real estate development and redevelopment
  • Assist residents with overcoming barriers to employment, including training, interview skills, child care, transportation and food or housing insecurity.

Investments to Catalyze Growth

Charlotte has committed $38.5 million to spur the growth of jobs and services in these six and private sector leaders are working to match that amount. The City is also issuing $2.76 million in grants to nonprofits and higher education institutions seeking to expand their workforce and small business support programs in the corridors.

It’s an exciting time to be a part of areas of Charlotte that are finally receiving attention and funding. You can learn more about Charlotte’s Corridors of Opportunity in this WFAE story.