The City of Charlotte will host a second public meeting February 27th at 6 p.m. to discuss possible changes to the PED Overlay District along East Morehead Street.
An initial public meeting in January brought together property owners, developers, commercial brokers and neighborhood activists to consider proposals to impose additional restrictions on building height, architecture and parking in the PED Overlay District adopted just last year along the Morehead corridor and in much of Midtown.
A proposal to lower the maximum building height from 100′ to 60′ along a stretch of East Morehead was rejected by both sides as unnecessary after planning staff showed it would impact only a limited number of properties. But left unresolved were suggestions to require new street-level design standards and to increase the minimum required parking ratio for multifamily development (currently at 1 space per unit). City staff is in the process of reviewing the feedback provided by the group and will convene a follow-up meeting sometime in February.
The PED was first approved in 1999 and has been utilized in numerous areas of the City to promote walkable, mixed-use development. In exchange for its higher-density by-right zoning, developers are required to meet enhanced building design standards and construct a pedestrian-friendly streetscape.
It is REBIC’s position that any changes to the PED would adversely impact those investors who purchased sites in the Morehead corridor with the expectation that they could exercise the development rights provided by the Overlay District. Altering those rights to appease a vocal neighborhood group would produce citywide economic uncertainty, deter real estate investment in Charlotte and have lasting consequences for economic development and property values.
We encourage any property owners, brokers or developers with property in the Midtown and Morehead areas to attend the February 27th workshop in Freedom Park!
To review the material presented at last week’s workshop, click HERE.