CHARLOTTE, N.C. — It will be a couple more years before Charlotteans begin to see buildings go up for the long-awaited Brooklyn Village development. The project was approved in 2016 but still has a long way to go.
On Wednesday, the developers gave the Mecklenburg Board of County Commissioners an update on the massive project's progress. Developer Donahue Peebles III said phase one of the project, which includes apartments and a hotel, will cost BK Partners $1 billion to build.
“Brooklyn Village [is] an area that is revitalized, an area that is branded as Brooklyn,” Mecklenburg County Commissioner, Mark Jerrell said. “[It's] an area that pays homage to those legacy residents that were impacted by urban renewal.”
The latest project details show plans for nearly 900 apartments, including affordable housing, a hotel, retail and office space. However, developers will likely now rework the office plans due to changes in demand.
"In 2024, the paradigm with respect to how people use office space has changed radically, we need a project that reflects that," Peebles told WCNC Charlotte.
Although horizontal work has been done on the land in phase one, the construction site sits empty as the project stalls once again.
“I’m ready for shovels to hit the ground now. I’m ready to go vertical yesterday but we need to understand what is at play," Jerrell said.
According to the report that was presented to the Mecklenburg County commissioners on Wednesday, the project's developers, BK Partners, are facing several challenges. This includes increased interest rates and unfavorable economic conditions.
Now, vertical construction is not set to begin until June 2026.
“Obviously, market conditions, the economy and different things of that nature have stalled the process,” Jerrell said. “The expectation is for us to meet these timelines and make sure we have the information. If there are delays, make sure they are reasonable.
Commissioners voiced their disappointment and concern with Peebles on Wednesday over the delays. Commissioner Laura Meier said she didn't buy the company's excuse of bad market conditions.
"There's some tough times but I don’t think it's as bad as you're making it out to be," Meier said to Peebles.
However, Peebles noted that the delay does not fall solely on the developers. BK Partners was awarded the deal in 2016, but it took two years to negotiate the agreement with the county. Then, he said they faced title issues with the city.
"In 2018, we also learned that the city had a reversion right and could buy the site back from anybody who owned it in 2029. So, we needed to get the city to remove that reversion right, which they did in January of 2021," Peebles explained.
The developer is now promising to turn the disappointment around. "We’re gonna do everything we can to beat the June 2026 deadline," Peebles said.
When complete, Jerrell said the project will speak to the rich history and legacy of Brooklyn, a once prominent Black neighborhood.
“We want there to be a historical designation, where people come from all over the world to visit our community and they know that a vibrant community called Brooklyn existed."
Peebles added his family is honored to create a project with such historical significance:
"When my father, as a black man, first heard of the opportunity to develop a property that was all but the scars of urban renewal, he knew this was something we could not let pass us by," Peebles told commissioners.
Wednesday's meeting still left a lot of questions on what Brooklyn Village’s future will look like, and some commissioners questioned whether it should happen at all.
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