The substantial master-planned development known as River District received unanimous approval, albeit with mixed enthusiasm, during last week’s Charlotte City Council vote.
Charlotte Business Journal reported that developers Lincoln Harris and Crescent Communities had filed a rezoning petition earlier in year to develop, over the next 20 to 30 years, eight million sq. ft. of office, 4,650 residences, 500,000 sq. ft. of retail, 200 retirement units and 1,000 hotel rooms. The plan also calls for about 550 acres of the land to be preserved.
Though the project was unanimously approved, several councillors voiced concerns about the lack of time provided to fully consider the proposal. Though the project has been under discussion for two years, a meeting regarding zoning and other details took place just last month.
Challenges relating to infrastructure, transportation, schools and public services must be considered in relation to the project’s buildout, size, scope and duration. Crescent and Lincoln Harris have reportedly planned the project in three major phases, “each of which are contingent upon certain projects, including road alignments and extensions, being finished. Road projects for River District’s first two phases have a price tag of about $131 million, paid for by public and private entities.”