Ally Charlotte Center

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Ally Charlotte Center
Ally Charlotte Center S Tryon St.jpg
General information
StatusComplete
TypeOffice, and Hotel
Location601 South Tryon Street, Charlotte, North Carolina
GroundbreakingQ1 2018
CompletedMay 3, 2021
CostOver $100 Million
OwnerAlly Financial[2]
Height
Roof427 ft (130 m)[1]
Technical details
Floor count26 Floors
Floor area742,000 sq ft (68,900 m2)
Design and construction
ArchitectLittle Diversified Architectural Consulting
DeveloperCrescent Communities
Structural engineerAlly Financial via STS Properties LLC
Website
www.allycharlottecenter.com

Ally Charlotte Center is a 26-story office building in uptown Charlotte, North Carolina. Officially completed on May 3, 2021,[3] it stands at a height of around 427 feet (130 Meters). Each floor has an open floor plan and averages approximately 30,000 square feet in size[4] for a total of 742,000 square feet of space[5] which makes it the tenth largest building in Charlotte by leasable space.[6] The site will feature a 381-room JW Marriott hotel including 34 suites, the first JW Marriott in North Carolina.[7] The site also includes 25,000 square feet of restaurant and retail space, and an 8-story parking garage with 1,400 parking spots.[8]

Office Building[]

Ally Financial occupies 725,000 square of the building and is the only office tenant of the building.[9] All 2,100 Charlotte-based employees and contractors will relocate to the new building from other Charlotte offices,[10][11][12] which includes 440 South Church, 11605 N. Community House Road, WeWork space at 128 S. Tryon St, 1401 W. Morehead St, and 2101 Rexford Road. Ally will move into the building in phases as determined by teams.[10]

Charlotte is becoming an important hub for Ally, which is headquartered in Ally Detroit Center. The company has 500 more employees based in Charlotte than in Detroit.[10] The company's history in Charlotte dates back over 20 years. In 2001, GMAC, Ally's predecessor, moved to Ballantyne.[13] In 2009, GMAC agreed to anchor 440 South Church by leasing 106,000 square feet. At that time there were only about 250 local employees.[14] The company further increased its Charlotte presence in 2016 when it purchased TradeKing Group, a brokerage company, which had 105 employees based in Ballantyne at 11605 N. Community House Road.[15] The CEO of Ally, Jeffrey Brown, has said this about Ally's presence in Charlotte "I think we will continue to see Charlotte increase in importance of the company's overall head count. It's a highly competitive market for talent, but it's a great market for talent. ... You have strong financial and accounting skills. You also have great technology skills as well." The company in 2020 alone hired 550 people in the Charlotte area.[10]

The building is located on the former proposed site of Trump Charlotte. The proposed Trump building would have been a mixed-use containing condos, high end shops, office space, and a five star hotel. The building was planned to be 72 stories would have been taller than the city's current tallest building, Bank of America Corporate Center.[16]

In July 2021 Crescent sold the building to STS Properties LLC, an entity affiliated with Ally Financial Inc, for $390 million. This transaction is one of the largest building sales in Charlotte history.[17][18][19] The largest transaction in Charlotte history was when Duke Energy sold Duke Energy Plaza to CGA Capital and Childress Klein for $675 million in December 2019.[20]

JW Marriott[]

White Lodging and Crescent Communities have developed the 22 story, 320,000 square foot hotel together. It was first announced in November 2018 and topped out in June 2020. [7] The hotel opened in August 2021.[21] Once completed it will be the 7th largest hotel in Charlotte by number of rooms with 381 rooms.[22][23] JW Marriott is a luxury brand of Marriott International. It features modern guest rooms, spas, sizable co-working spaces, and bars with outdoor seating.[24]

The hotel features 3 restaurants: Dean's Italian Steakhouse, Caroline's Oyster Bar, and Aura Rooftop Bar. In May 2021, it was announced that 300 people would be hired to staff the restaurants with hired events in early May. The goal of the restaurants is to offer exceptional urban dinning.[25]

JW Marriott in June 2021, prior to its July opening

See also[]

References[]

  1. ^ Fahey, Ashley (10 July 2019). "Uptown office tower tops out, on track to deliver in 2021". Charlotte Business Journal. Retrieved 7 October 2021.
  2. ^ Hudson, Caroline (July 30, 2021). "Uptown's Ally Charlotte Center sells for $390M to anchor tenant Ally Financial". Charlotte Business Journal. Retrieved 2021-08-17.
  3. ^ Chemtob, Danielle (May 3, 2021). "Construction on the latest bank tower in the Charlotte skyline is now complete". Charlotte Observer. Retrieved 2021-05-05.
  4. ^ "Ally Charlotte Center". www.wbmgroup.com. January 29, 2020. Retrieved 2021-05-05.
  5. ^ "CRESCENT COMMUNITIES, BRASFIELD & GORRIE, ANNOUNCE TOPPING OUT OF ALLY CHARLOTTE CENTER". www.crescentcommunities.com. Retrieved 2019-07-11.
  6. ^ Shapiro, Amy (9 October 2020). "Charlotte's largest office buildings Ranked by Leasable square feet". Charlotte Business Journal. Retrieved 30 May 2021.
  7. ^ a b Thomas, Jennifer (June 18, 2020). "When JW Marriott Charlotte expects to open in uptown after hitting construction milestone". Charlotte Business Journal. Retrieved 2021-06-13.
  8. ^ Fahey, Ashley (May 3, 2021). "Ally Charlotte Center office tower in uptown wraps up construction". Charlotte Business Journal. Retrieved 2021-05-05.
  9. ^ Fahey, Ashley (February 11, 2020). "Ally Financial to occupy 'very large majority' of uptown tower". Charlotte Business Journal.
  10. ^ a b c d Hudson, Caroline (April 22, 2021). "ALLY'S BIG MOVE Fast-growing online bank joins major rivals on Tryon Street with opening of new hub". Charlotte Business Journal.
  11. ^ Fahey, Ashley; Burns, Hilary (September 20, 2017). "Ally Financial to anchor long-awaited Crescent Communities uptown project". American City Business Journals.
  12. ^ PORTILLO, ELY; ROBERTS, DEON (September 20, 2017). "Ally Bank leasing Crescent Communities' new Tryon Place tower". The Charlotte Observer.
  13. ^ "Change in plan for south Charlotte's Toringdon". Charlotte Business Journal. 12 April 2010. Retrieved 25 June 2021.
  14. ^ Kroll, Kathryn (March 20, 2009). "GMAC Financial adding jobs with North Carolina expansion". Cleveland Plain Dealer.
  15. ^ Roberts, Deon (April 5, 2016). "Ally Financial to add 100 employees in Charlotte by buying Florida broker". Charlotte Observer. Retrieved 2021-06-13.
  16. ^ Way, Emma (January 19, 2021). "The time Trump almost built Charlotte's tallest skyscraper". .
  17. ^ Fahey, Ashley (December 11, 2019). "Truist to purchase Hearst Tower for $455.5M, rename uptown building". Charlotte Business Journal. Retrieved 2021-08-17.
  18. ^ Fahey, Ashley (April 21, 2019). "Bank of America Tower under contract to be sold in $436M deal". Charlotte Business Journal. Retrieved 2021-08-17.
  19. ^ Downey, John (December 23, 2019). "Duke Energy tower under construction in uptown acquired in record deal". Charlotte Business Journal. Retrieved 2021-08-17.
  20. ^ Downey, John (December 23, 2019). "Duke Energy tower under construction in uptown acquired in record deal". Charlotte Business Journal. Retrieved 2021-08-17.
  21. ^ Thomas, Jennifer (May 3, 2021). "JW Marriott now hiring as it looks to open uptown in July, roll out three new restaurants". Charlotte Business Journal. Retrieved 2021-06-13.
  22. ^ Shapiro, Amy (8 January 2021). "Charlotte's largest hotels Ranked by No. of units or suites". Charlotte Business Journal. Retrieved 30 May 2021.
  23. ^ Thomas, Jennifer (18 June 2020). "When JW Marriott Charlotte expects to open in uptown after hitting construction milestone". Charlotte Business Journal. Retrieved 30 May 2021.
  24. ^ Fahey, Ashley (October 31, 2018). "RENDERINGS: Luxury hotel flag confirmed for uptown Charlotte site". Charlotte Business Journal. Retrieved 2021-06-13.
  25. ^ Fahey, Ashley (May 3, 2021). "JW Marriott now hiring as it looks to open uptown in July, roll out three new restaurants". Charlotte Business Journal. Retrieved 2021-06-13.
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