Cambridge Properties is set to revitalize an aging retail center in Charlotte by demolishing a vacant Kohl’s department store and constructing a 300-unit apartment complex, complete with ground-floor retail space and parking garage. The company has already commenced work on another project at the Mallard Pointe Shopping Center, which includes 400 rental units and 90,000 square feet of retail.
The latest permits for these improvements have been valued at approximately $13.3 million, with Crestline Construction serving as the general contractor. Cambridge is collaborating with investment partner Withrow Capital on this venture.
Located off Grove Lake Drive, Mallard Pointe features a Food Lion supermarket as its anchor tenant. In fact, Cambridge originally acquired the property back in 1996 and developed it alongside Withrow Capital over its expansive 15-acre site.
This development marks yet another step forward for Cambridge Properties as they continue to breathe new life into aging commercial centers across Charlotte.
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