Opportunity happens on the edges.
Who said that? We did. Pretty good, right? 5 Points Realty knows our neighborhoods and the pockets of opportunity pretty well. In fact, the knowledge and experience we hold as a firm in where opportunities have been, are, and most importantly will be, is what we do best. We have gotten our clients into areas ahead of the curve for decades now.
One such area we are keeping an eye on right now is the Sugar Creek Corridor. It’s moving in a direction we think you need to know about.
East Sugar Creek
In 2020, we knew the listings we had off of E. Sugar Creek would be a great investment. This piece of E. Sugar Creek is just on the East edge of the arts district, aka NODA, and lies in between The Plaza to the South and 29 to the North. Since those properties were sold, the LYNX Blue Line phase of light rail has been completed. There is a spectacular glass and metal station right on E. Sugar Creek. The light rail now bridges the gap between N. Davidson and the University area that is a bit further down 29. This connection puts E. Sugar Creek right in the middle. Click here for the travel schedule and map for the Blue Line.
Light Rail Connection
As it has proven to do in the past, the presence of the light rail invites other businesses to the party. One of the most exciting and perhaps less well-known cool spots in Charlotte, in our opinion, is the Independent Picture House, the only independent film house in Charlotte. It is just so cool and just across from the E. Sugar Creek light rail station.
The elephant on the street is the standing Asian Corner Mall. Although it is very cool to have international food stores, the mall is just not in good shape. A developer has purchased part of the property but has not made clear what the plan is for this site. We have high hopes for cool condos.
West Sugar Creek
There is more good news on West Sugar Creek. Axios wrote about new mobility hubs that are being planned for that area. Mobility hubs will help people safely move from one type of transportation to another, like biking to a bus or light rail.
Right now, West Sugar Creek isn’t very pedestrian friendly. Axios reports the city of Charlotte is going to add continuous sidewalks and build a new path for pedestrians and cyclists along Sugar Creek Park. City leaders hope the improvements will make it easier for people to get new jobs, housing, and create economic opportunities for people who live in the area.
The project will cost an estimated $24 million, but the city is getting half of that from a federal grant. It’s part of the U.S. Department of Transportation’s RAISE program. RAISE stands for Rebuilding American Infrastructure with Sustainability and Equity.
Coming down the Tracks
We think there are great areas for investment right now off Sugar Creek, including Bearwood Avenue. There is an active listing (as of this writing) for a lot nearly a quarter of an acre for $159,000. Other neighborhoods adjacent to this dynamic corridor to keep in mind are Hidden Valley, Derita and Mineral Springs.
Call us to discuss this exciting area.
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