The following article appeared in the 11/07/24 edition of Charlotte Business Journal:
Townhomes on the rise in redevelopment of former Asian Corner Mall property
By Elise Franco, Staff Writer, Charlotte Business Journal
Charlotte developer Beauxright has kicked off the redevelopment of Asian Corner Mall in the Eastway neighborhood. Melissa Key/CBJ
A project that will reshape the former Asian Corner Mall site in Charlotte is underway.
The first phase of Charlotte developer Beauxwright's Sugar Yards project will include 186 townhomes — 119 for-sale units and 67 rental units. The development will include three- and four-bedroom units with 3.5 or 4.5 baths, two-car garages and a rooftop terrace. Each unit will be three stories.
Chris Warren, principal at Beauxwright, said demolition and site work is happening now. The first units are expected to deliver in 2026, with full delivery following in 2029. Beauxwright is partnering with Toll Brothers and Copper Builders on phase I.
Warren declined to share the project cost.
The multiphased development will sit on 11 acres at East Sugar Creek Road and Greensboro Street, adjacent to the new location of Le's Sandwiches & Cafe. That popular Vietnamese restaurant, which once called the mall home, reopened last fall.
Beauxwright has invested almost $9.4 million over the last several years assembling multiple parcels. The firm owns about 40% of the Asian Corner Mall site.
The Asian Corner Mall was once home to International Supermarket, Le's sandwich shop and other businesses. It was mostly vacant by the time it was shuttered by the Charlotte Fire Department in January 2023. Jennifer Thomas/ CBJ
Warren said the location in Charlotte's Eastway neighborhood, just north of NoDa, is ideal for mixed-use development. The site is less than a mile from the Lynx Blue Line's Sugar Creek Station.
Beauxwright acquired the property as part of a vision to revitalize the area for Charlotte's growing population, Warren added.
"If you zoom out, its equidistant between (UNC Charlotte) and uptown, with a new-light rail stop right there and major corridors for vehicular access," he said. "We love how centrally located this is near the Sugar Creek and NoDa area and right in the middle of the development that's going up."
Warren said existing buildings to the east and west of the multifamily development will remain for potential inclusion in future phases. He said it is still too early to discuss in detail what those phases will include, but there will be retail and a mix of other uses.
The property, once called North Tryon Mall, was developed in the 1970s and has gone through four owners and two bankruptcies since 1983, according to previous CBJ reporting. Prior to that, Warren said, it hosted early NASCAR races.
"The history of the site is so cool, going back to the churches that were here originally and fairgrounds used for races," he said. "There’s a lot of rich heritage and history, and it’s cool to be a part of."