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Charlotte's warehouse boom, an Uptown tower's second life, and rates at 7.40%
Charlotte's industrial pipeline is up 129% in a year, 301 South Tryon is headed for apartments and a hotel, the 30-year rate climbed to 7.40%, and Wegmans opens in Ballantyne Oct 14.
Issue #2 · Friday, October 9, 2026
Please note: The news here comes from public sources listed at the end. Amir’s Takes are my opinion, not legal, tax, financial or investment advice. Projections and plans can change. Always check the details for a specific property before you decide.
Charlotte’s warehouse boom: up 129% in a year
Charlotte’s industrial construction pipeline (warehouses, distribution centers and factories) grew about 129% from a year ago, the biggest jump of any market in the South, according to CommercialCafe’s September report. The largest new project is a 1.57 million sq ft building on Moores Chapel Road in west Charlotte.
More is on the way. The Kings Grant plan near the Cabarrus County line calls for up to 2.75 million sq ft of warehouses plus 488 apartments. And just across the state line, drone maker Powerus made Rock Hill’s Riverwalk business park its U.S. headquarters last Friday and is already hiring.
| AMIR’S TAKE Warehouse and factory jobs land on the edges of the region: west Charlotte, Gastonia, Concord and Rock Hill. Those areas still have more affordable homes, and workers like to live close to work. If you own a rental near I-85, I-77 or I-485, demand from these new jobs should help keep it filled. |
An empty Uptown tower gets a second life
City Council voted 10-1 on Sept 28 to make 301 South Tryon (the old Jefferson-First Union Tower, now vacant) a historic landmark. The new owners, Riverside Investment & Development and Singerman Real Estate, bought it this spring for $36.5 million.
Their plan: turn it into about 275 apartments, a 200-room hotel, offices and street-level shops, and open up the plaza and atrium to the public. The landmark status lets them use historic tax credits to help pay for it.
| AMIR’S TAKE Office-to-home conversions are how downtowns stay alive after people started working from home. More residents in Uptown means more restaurants, more foot traffic and more reasons to live nearby. Condos and townhomes in Uptown, Fourth Ward and Dilworth benefit when the center of the city gets busier. |
Mortgage rates climb to 7.40%
Freddie Mac’s weekly survey put the average 30-year fixed rate at 7.40% this week (Oct 8), compared with 7.28% last week. A year ago it was about 6.30%. The 15-year rate is 6.73%.
That’s the second weekly rise in a row, up from 7.03% two weeks ago.
| AMIR’S TAKE Your monthly payment matters more than the headline rate. Buyers: get pre-approved and compare at least two lenders, because offers differ more than most people think. Sellers: a price that fits today’s payments brings more showings than one you plan to cut later. |
Also this week: Wegmans opens next Wednesday
Wegmans opens its first Charlotte-area store on Wednesday, Oct 14 at 9 a.m. in Ballantyne (11550 North Community House Road): 110,000 sq ft and about 450 jobs, a short drive from Daimler Truck’s new headquarters.
| AMIR’S TAKE Big-name grocers pick spots where they expect growth. Homes within a short drive tend to get extra attention from buyers, and Ballantyne just added another reason to move there. |
What it means for you
| Buying? Look beyond the center of town. Areas near new job hubs often give you more home for the money. |
| Selling? If you’re near Uptown, Ballantyne or a growing job hub, tell buyers what’s coming. It’s part of your home’s value. |
| Investing? New warehouse and factory jobs mean steady renters near I-85, I-77 and I-485. |
Sources: CommercialCafe National Industrial Report (Sept 2026), Charlotte City Council agenda (9/28/26), K104.7 (10/1/26), Charlotte Stories (10/2/26), Freddie Mac Primary Mortgage Market Survey (10/8/26), goballantyne.com.
Disclosures: Behdani Realty Company LLC is a licensed real estate brokerage in North Carolina and South Carolina. This report is general information only. It is not legal, tax, financial or investment advice, and it is not an offer to buy or sell any property. Facts come from the public sources listed above and can change. Projections and forecasts are estimates, not guarantees. Please talk with a qualified attorney, CPA or lender before making decisions. Equal Housing Opportunity.
Uptown's empty bank tower gets landmark status, and Plaza Midwood's mill site is rezoned
City Council made 301 South Tryon a historic landmark on the way to apartments and a hotel, rezoned 21 acres of the Barnhardt campus in Plaza Midwood, and heard four annexation requests. Plus: Wegmans opens in Ballantyne Oct 14.
Issue #1 · Wednesday, October 7, 2026
Please note: The news here comes from public sources listed at the end. Amir’s Takes are my opinion, not legal, tax, financial or investment advice. Projections and plans can change. Always check the details for a specific property before you decide.
From City Council
Uptown’s empty bank tower gets landmark status
On Sept 28, Council voted 10-1 to make 301 South Tryon (the old Jefferson-First Union Tower) a local historic landmark. The new owners plan to turn the empty office complex into about 275 apartments, a 200-room hotel, offices and shops.
| AMIR’S TAKE The landmark status unlocks historic tax credits, which is what makes a conversion like this pencil out. More people living Uptown means more shops and restaurants staying open after 5 p.m., and that helps home values in Uptown, Fourth Ward and Dilworth. |
Plaza Midwood mill site rezoned for homes and shops
On Sept 21, Council approved rezoning about 21 acres of Barnhardt Manufacturing’s campus on Hawthorne Lane from industrial to a neighborhood center zoning that allows apartments, shops and other businesses. The 125-year-old company keeps operating for now and calls this the start of long-term planning.
| AMIR’S TAKE This is one of the last big pieces of land near Plaza Midwood. Nothing changes overnight, but if you own nearby, a planned mix of homes and shops next door usually adds value over time. |
Also approved Sept 21
DreamKey Partners (formerly the Charlotte-Mecklenburg Housing Partnership): about 6 acres off Beatties Ford Road, rezoned for more homes. ACRO Development: about 23 acres north of Morehead Road, rezoned for light industrial use.
Four new communities asked to join the city
Also on the Sept 28 agenda were four requests to bring planned projects into city limits: Kings Grant near the Cabarrus line (335 acres, up to 488 apartments and 2.75 million sq ft of warehouses), Yardly West Towne off West Blvd (335 rental homes), Taylor Grove at Mallard Creek (190 attached homes) and Freedom Manor, 37 Habitat for Humanity homes at Reedy Creek.
| AMIR’S TAKE Kings Grant is the one to watch: jobs and apartments together near I-85 and Concord. Where warehouses go, workers follow, and they rent and buy close by. |
Coming up: Council’s next zoning meeting is Monday, Oct 19. A rezoning for River Point, a mixed-use project on about 13 acres off Dixie River Road, has a public hearing set for Oct 26.
Friday follow-up
Ballantyne: Wegmans opens next Wednesday
Last Friday we covered Daimler Truck’s new headquarters in Ballantyne. Just down the road, Wegmans opens its first Charlotte-area store on Wednesday, Oct 14 at 9 a.m. at 11550 North Community House Road: 110,000 sq ft and about 450 jobs.
| AMIR’S TAKE Big-name grocers do their homework before they pick a spot. When a store like Wegmans opens, homes within a short drive tend to get extra attention from buyers. |
Sources: Charlotte City Council agendas (Sept 21 and Sept 28, 2026) and City of Charlotte rezoning pages, K104.7 (10/1/26), WFAE, Ballantyne (goballantyne.com).
Disclosures: Behdani Realty Company LLC is a licensed real estate brokerage in North Carolina and South Carolina. This report is general information only. It is not legal, tax, financial or investment advice, and it is not an offer to buy or sell any property. Facts come from the public sources listed above and can change. Projections and forecasts are estimates, not guarantees. Please talk with a qualified attorney, CPA or lender before making decisions. Equal Housing Opportunity.
Two headquarters, 876 jobs, 7% rates and a new bridge to Uptown
Capital Group and Daimler Truck Financial Services opened Charlotte headquarters with 876 jobs, mortgage rates rose to 7.28%, and work began on the Rail Trail bridge linking South End to Uptown.
Issue #1 · Friday, October 2, 2026
Two headquarters, 876 jobs: a big week for Charlotte
On Tuesday, Governor Josh Stein cut the ribbon on two headquarters in one day. Capital Group, one of the world’s largest investment firms, opened its East Coast hub in Uptown with 600 jobs. Daimler Truck Financial Services opened its new North American headquarters in Ballantyne with 276 jobs, many of them moving here from Michigan and Texas.
The Daimler jobs are expected to pay an average of about $134,000 a year, well above the Mecklenburg County average of roughly $87,000.
| AMIR’S TAKE Every one of these hires needs somewhere to live, and many of them are relocating with families. Well-paid newcomers usually rent first, then buy within a year or two. I expect steady demand for homes near Ballantyne and along the light rail into Uptown to continue into 2027. |
Mortgage rates climb to 7.28%
Freddie Mac’s weekly survey put the average 30-year fixed rate at 7.28% this week (Oct 1), up from 7.03% the week before. That’s the second week in a row above 7%. A year ago it was about 6.3%. The 15-year rate rose to 6.60%.
Rising bond yields and higher oil prices are pushing rates up, even though Freddie Mac says the economy and job market are still solid.
| AMIR’S TAKE Don’t try to time rates perfectly. Buyers: get pre-approved now and ask your lender about a rate lock and a future refinance. Higher rates also mean fewer buyers competing with you, which gives you more room to negotiate. Sellers: price it right from day one, because today’s buyers are watching their monthly payment closely. |
A new walking bridge will link South End to Uptown
Construction is underway on the Rail Trail bridge over I-277, a $23.8 million bike and pedestrian bridge connecting the Rail Trail in South End to the Brooklyn Village light rail station in Uptown. Heads up if you drive: the I-277 South exit to College Street (Exit 1E) is closed until late 2027 while crews build it.
| AMIR’S TAKE Walkability sells. Buyers consistently pay attention to how easily they can walk to restaurants, trails and transit, and closing the gap over I-277 makes South End and Dilworth even more connected. If you own near the trail, this is good news for your long-term value. |
What it means for you
| Buying? New jobs keep demand strong. Get pre-approved so you can move quickly when the right home appears. |
| Selling? Relocating buyers are arriving. Homes that are priced right and ready to move into will stand out. |
| Investing? Newcomers often rent first. Ballantyne and areas near the light rail are worth a look. |
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