A food hall concept dubbed Monarch Market in Charlotte, North Carolina, is set for development by Crescent Communities in partnership with Nuveen Real Estate.
Construction has already commenced on the market that will span 18,000 square feet within One Independence Center. Although the opening date hasn’t been announced, the developers expect the project to be fully operational by October.
According to the developers, Monarch Market in Charlotte was designed to create a place for Uptown Charlotte residents to work and play. Especially since its location in central Uptown is in close proximity to several sports and entertainment venues.
Moreover, the new market marks the culmination of a three-year, $33 million dollar One Independence Center redevelopment by Crescent Communities. Now that One Independence Center is complete, it offers a 26,000 square foot ground floor component and various office sizes.
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Development plans for the Monarch Market in Charlotte
Hospitality HQ will operate the 18,000-square-foot Monarch Market space, which will feature a service restaurant and three bars. In addition, it offers a private event space and areas for corporate and group events.
The facility also provides a cocktail lounge with outdoor space and semi private spaces, which will be available for reservations. What’s more, the tenant lounge and food delivery services will also be accessible to those working at One Independence Center.
The development team working on the Monarch Market in Charlotte include Elmer Design, working as the architect and interior designer. Meanwhile, JE Dunn is serving as the project’s general contractor and Cushman & Wakefield will be in charge of consulting services. The project’s funding comes from PNC Bank, U.S. Bank and First Nation Bank of Pennsylvania.
Crescent’s President, Brendan Pierce, said his company was excited to work alongside Hospitality HQ on the Monarch Market project. He said it would be a unique environment in Charlotte providing food and beverage options, perfect for business and post-work lunches. Therefore, he said their development would create a destination that caters to every entertainment and dining need, from day to night.