The Shops on Providence
Opportunity: Development of a commercial mixed-use center in Union County NC, on the main thoroughfare of Providence Road (Hwy. 16). This site is currently planned to consist of one (1) anchor big-box retail parcel, four (4) retail out parcels (facing Providence Rd), and three (3) low rise office parcels. There is also the option to either replace a portion of the office with a hotel parcel, or acquire adjacent land for said hotel buyer.
Overview: The area of Union County surrounding the town of Waxhaw has some of the highest disposable income in North Carolina. Providence Road is the main corridor between SE Charlotte and NW Union County, where lower taxes and better public schools have created a magnet for growth. In addition, this site is located in the county (not the city of Waxhaw that it abuts) and enjoys a more attractive tax profile which should make it much more attractive to end buyers (both a commercial master buyer as well as anchor and outparcel buyers).
Acreage: 27.5 +/- acres
Value Creation Strategy: The growth of this market, the frontage on Providence Road, and the adjacency to both residential and government developments make this a much needed new commercial center for the area.
Location: Lancaster Ave & Avery Parker Rd in Union County, NC
Asset: 46 Approved lots with frontage of 31’ to 53’ (zero lot line)
Zoned: R20 (Special Use Zoning)
Utilities: All available
Summary: This property is located in central Union County within the city of Monroe. 46 developed lots in an existing subdivision