$7M Incentive Wanted for Charlotte Mixed-Use Redevelopment

The team behind the $500 million redevelopment of Providence Square in south Charlotte is moving closer to securing $6.9 million in taxpayer-funded incentives.

Charlotte’s economic development committee advanced the developers’ proposed incentive package to city council, which is expected to vote on it next week, the Charlotte Business Journal reported.

The project, spearheaded by Horizon Development Properties, Levine Properties and Northwood Ravin, involves demolition of 473 aging apartments and the redesign of 113 acres into a mixed-use community. The project site, at 5668 International Drive, is near Highway 16 about 8 miles southeast of downtown.

Plans include an affordable housing component, infrastructure upgrades and a public park. The developers have pledged to create 108 affordable units for residents earning 60 to 80 percent of the area median income, with affordability commitments lasting 15 years.

Infrastructure investments would include new traffic signals, medians and pedestrian crossings. The redevelopment would also include a $1 million investment in park programming and a 4.4-acre land donation for public use.

Levine Properties and Northwood Ravin have pledged to cover any cost overruns, offering further financial security.

Council member LaWana Mayfield, however, raised concerns about transparency and the project’s affordable housing commitment. She requested a detailed review of the city’s existing tax incentive agreements to assess the long-term financial impact.

“Housing affordability is a growing challenge, and we need to ensure this aligns with our broader goals,” she said.

The incentives would cover 27 percent of infrastructure costs — less than similar projects like Ballantyne Reimagined, said Malcolm Graham, the committee’s chair.

The developers also plan electric vehicle charging stations, improved water systems and bike paths. Discussions about additional features, including a potential new fire station, are ongoing.

— Andrew Terrell