Duke Energy plans to build a 39-floor office tower to house employees currently scattered among several aging uptown Charlotte buildings.
In addition to constructing the new tower, the company plans to sell its 526 Church St. and 401 College St. facilities and exit its lease at 400 South Tryon St. The plan will consolidate the space the company occupies in uptown Charlotte over the next several years from four buildings to two buildings with the goal of reducing its footprint from 2 million sq. ft. to 1.5 million sq. ft.
“These actions will allow us to operate our business more efficiently, enhance employee productivity and better serve our customers and communities,” Melissa Anderson, Duke Energy’s executive vice-president, administration and chief human resources officer, said in a statement. “It will also free up premium real estate in Uptown Charlotte – currently in high demand – for other purposes.”
The company’s corporate headquarters will remain at the current Duke Energy Center on Tryon St.
New office tower
Duke Energy plans to utilize a sale-leaseback financing option to construct the office tower. Upon completion, the company will seek a buyer to purchase the building and sign a long-term lease with the new owner.
Approximately 1,000 craftsman and trade workers will be employed during the three-year construction period, providing an economic boost to Charlotte and the surrounding areas.
The office tower will be located on South Tryon St. on a surface parking lot lying between St. Peter’s Catholic Church and The Harvey B.Gantt Center. The Duke-owned site is located directly across from Duke Energy’s headquarters building, as well as connecting to the company’s Innovation Center at Optimist Hall office located along the LYNX Blue Line.
Once completed, approximately 25,000 sq. ft. of new retail space will be available, including a walkway to connect the building lobby to Tryon and College streets where additional retail space will reside.
Renderings of the new building are expected to be available in the first quarter of 2019. Construction would take up to three years to complete.