Hornets Team Acquires Uptown Retail Space

Hornets Sports and Entertainment joined two other firms to purchase the Queen City Quarter property on Tuesday, Nov. 3. The site, formerly known as the Epicentre, sits in Charlotte’s Uptown district. It has sat dark for some time. The new owners aim to restart the area's commercial activity.

The buying group includes Lincoln Property Company and Vision Ventures. Johno Harris, a senior executive vice president at Lincoln Property Company, stated that the partners intend to bring new energy to the district. He noted that their previous collaborations provide a foundation for future investment. The goal is to strengthen the local economy and support the district’s continued development.

Vision Ventures previously held ownership of the property from 2010 to 2015. During that period, the firm reported increasing occupancy rates from approximately 50% to 95%. Paul Picarazzi, managing principal at Vision Ventures, said that history gives the team a unique perspective on the site. He expressed confidence that the combined strengths of the partners would help the property serve Uptown again.

The complex has served as a nightlife and shopping hub in Center City. Vinay Patel, a principal with Sree Hotels, called the facility an icon for the area. His hotel connects directly to the property. He recalled frequent visits for meals and events before the foot traffic declined. He observed that police lights and crime scene tape became common sights as the space emptied out.

Council member Dante Anderson described the location as prime real estate that has been effectively dormant. He stated that seeing it unused has been a source of frustration. He emphasized that a multi-layer safety plan is at the forefront of the planning process. This approach would involve both the Charlotte-Mecklenburg Police Department and private officers working for the corporations in the area.

Hornets Sports and Entertainment co-chairmen Rick Schnall and Gabe Plotkin called the property a key part of Uptown. They said a vibrant district is essential to Charlotte's status as a leading U.S. city. The team said it is committed to creating a welcoming destination for residents, visitors, and fans. They aim to restore the area's energy and provide more reasons for people to spend time there.

Patel hopes the new tenants will complement the nearby Spectrum Center. He believes that adding restaurants and other facilities will address the lack of retail in Center City. He stated that the opportunities for development in the area are endless. The group has not yet released exact design plans or a list of specific tenants.

The acquisition marks a change in ownership for a site that has been a focal point for Uptown nightlife. The previous owners left the building with many dark shop spaces and leasing signs. City leaders expressed hope that the new management will fill the spaces with people again. The behind-the-scenes work on the project is currently ongoing.