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Conversation: Tom Thornburg, Developer |
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Written by Celina Mincey
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As Charlotte’s Uptown and ring neighborhoods continue to grow, how is Charlotte going to deal with affordable housing?
Affordable housing cannot be constructed uptown because land values simply don’t permit it. As market rate housing continues to be built just outside of 277, in ring neighborhoods and other areas that expand uptown, it crowds out affordable property. Affordable housing will need to be concentrated in areas farther out of town, where land values still allow such construction, which means the success of our city will depend on a very strong public transit system. As Charlotte continues to grow, uptown workers will have to have a way to get back and forth from the city. Every great American city has a thorough transit system and Charlotte is working hard to build one. Now sure, there will always be pockets, small lots that can be developed affordably. But building large scale affordable housing anywhere near the center city would require massive government funding that is just not available.
 We’ve heard a lot about residential projects and towers in Uptown. Talk to us about upcoming retail.
I am not a retail expert, but I’ve been involved in Charlotte’s growth as a residential developer since 1990. I believe Charlotte’s uptown has to have people first, which then attracts retail growth. We have already seen that as more people are living and working uptown, the retail has followed. We can look for even more retail to come as the residential density uptown increases.
Charlotte’s growth is often billed as an effort to become a world-class city. What is going to distinguish Charlotte from other major cities?
The big thing is that this is still a young city. Charlotte has the opportunity to invent itself, not reinvent itself. It is starting with a clean slate so it doesn’t have to deal with past problems that other cities face. Charlotte needs to deal proactively with public transportation, preventing the decline in value of existing housing stock, building a strong urban core and a solid educational system.
What area do you see as the next big growth corridor in Charlotte?
All of Uptown. The number of residential units that can be built is tremendous due to the very high density that Uptown allows and the fact that there is still a lot of land left that can be developed. Looking from a residential developer’s eye, I see Uptown in terms of density and therefore its tremendous residential growth potential. On one city block alone in Fourth Ward, we are developing 537 units!
~ Celina Mincey
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