Private Construction Loan for Charlotte NC Mixed-Use Development

In May 2018, BridgeInvest closed a $40MM construction loan for the adaptive reuse of a mixed-use development located in the Optimist Park neighborhood of Charlotte. The former Highland Park Mill will be redeveloped into a 140,000 SF property consisting of 80,000 SF of office space and the city’s first large scale food hall. The project aims to be a catalyst for the redevelopment of the Optimist Park neighborhood as the Blue Line light rail opens the Parkwood Station just steps from the property. Along with BridgeInvest’s construction loan, the project is supported by tax credits provided by both federal and state government to support the renovation of the historic asset. BridgeInvest was able to fund the loan in 6 business days to assist the borrower in continuing their swift construction progress.