Charlotte’s Adaptive Reuse Trend Extends to Mint Hill
Charlotte’s commercial real estate market is in lock step with the national trend toward adaptive reuse (AdRu), the concept of taking industrial and other older buildings and giving them new life as creative office spaces, shops, restaurants and bars. According to the Charlotte Observer, developers and corporations are choosing to buy these former industrial properties for investment purposes or for company headquarters, in large part due to their historic character, cool factor and creative vibe.
Several recent and upcoming projects are evidence of this growing AdRu trend:
- Communications and Marketing firm Wray Ward is retrofitting a 1950’s-era industrial building for its new company headquarters.
- Ally Bank opened an “innovation studio” in a re-purposed factory building.
- Duke Energy put its “innovation center” in Optimist Hall, a former pantyhose factory in NoDa.
- Two new restaurants are in development, one in an old church and the other in a 119-year-old former mill house.
This trend is not limited to Southend, NoDa, Plaza Midwood and FreeMoreWest, all neighborhoods that have experienced a rebirth in the last decade or two. AdRu is alive and well in Mint Hill in The Lofts at 7714.
Located at 7714 Matthews-Mint Hill Road in downtown Mint Hill, the property was originally built in 1945 as the Kingcraft Hosiery Mill. When the textile mill closed in 1962, it became the home of a Formica countertop manufacturer until 1992, at which point it converted to warehouse use until a decade ago when its retrofitting began.
Re-branded as The Lofts at 7714 in 2012, this Mint Hill AdRu project has been an incubator for local small businesses ever since. It consists of 10 unique spaces, each of which enjoys elements of the buildings industrial and historic past, features that engender creativity, innovation and entrepreneurship.
As the only mill property in downtown Mint Hill, amidst a backdrop of new commercial development projects, The Lofts at 7714 is a one-of-kind commercial space just outside of Charlotte proper and minutes from I-485, in one of the few areas left in Charlotte that still has significant land available for new residential development.