Price’s Chicken Coop land sold for close to $4M. Here’s what’s next for the site.

2022-09-03 16:24:05 By : Mr. Matteo Yeung

What’s the price for a Price’s Chicken Coop, you ask?

That was what a developer out of Florida paid this summer for roughly a half-acre in booming South End. Price’s, the iconic walk-up Southern friend chicken joint, sat on the lot on Camden Road for close to 60 years.

Co-owner Steven Price closed down last year, citing labor shortage, rising food costs and a coin shortage. On one of his last days, Price told reporters he was ready for some rest and time with family.

Price and his wife Debra sold the four parcels near 1600 Camden Road on July 25 to an affiliate of real estate development firm Stiles, according to Mecklenburg County property records. There will be additional land closings as those parcels don’t encompass the entire development site, Adrienne Zalkind, of Stiles, told The Charlotte Observer in an email. The overall development will be 0.85 acres.

Stiles is working with Catalyst Capital Partners out of Charlotte to build a 30-story luxury apartment tower.

There will be close to 10,000 square feet of ground-floor retail and restaurant. Catalyst will take up about 10,000 square feet of space for its offices.

The building isn’t far from the light rail’s Blue Line between East/West Station and Bland Street Station.

There is no project name yet or renderings of what the building will look like, Zalkind said. The developers are also not disclosing the project cost.

The tower will have 315 apartments. Floor plans are for studio, and one-, two-, and three-bedrooms, according to Catalyst. There is no price range for the apartments yet.

Construction is expected to start at the end of year, according to Zalkind.

The developers had previously said construction would start by the end of this month, with a targeted completion of late 2024.

The Stiles-Catalyst cranes will join a number of others in South End.

Crews broke ground earlier this year on 110 East, a 23-story, $186 million office tower right off the East/West station. That project will include 370,000 square feet of office, retail and restaurant space.

Two more 24-story towers, one for offices, another for apartments, are under construction near 1728 South Blvd.

More construction is in the pipeline.

Chicago-based Riverside Investment and Development is planning a $750 million project to bring three towers with a mix of office and residential.

Correction: A previous version of this story misstated the acreage of the total development site. It is 0.85 acres. The story has been updated.

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