Charlotte Landmark Status Granted for Office Complex

The former Two Wells Fargo Center will be converted into a multi-use site with apartments and a hotel.

Updated on Oct. 12, 2026 in Commercial

Charlotte Landmark Status Granted for Office Complex

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Charlotte City Council has designated the historic 55-year-old former Two Wells Fargo Center as a local landmark. This move clears the way for a $250 million redevelopment project aimed at transforming the office space into a residential and hotel complex.

Why it matters

The project seeks to breathe new life into an aging site while addressing high vacancy rates in the Uptown business district. By securing historic landmark status, the developers gain eligibility for state and federal tax credits that could cover up to half of the renovation costs.

The property, purchased for $36.5 million, sits on a 3.4-acre site including a 32-story tower and 12-story connector. Developers plan to add 282 apartments and 180 hotel rooms to the complex.

The players

Charlotte City Council

The local governing body responsible for legislative decisions including historic landmark designations.

Riverside Investment & Development

A real estate development firm based in Chicago that co-owns the property.

Singerman Real Estate LLC

A private equity firm headquartered in Chicago that partnered to purchase the site.

The details

Owners Riverside Investment & Development and Singerman Real Estate LLC filed a land development construction plan permit on October 8, 2026. The site will be renamed the Jefferson-First Union Tower following the completion of the mixed-use conversion.

The original structure was constructed in 1971.
Riverside and Singerman purchased the property in April 2026.
The Court Arcade building was demolished in September 2026.
JLL published an office vacancy report in October 2026.
Owners filed the land development construction permit on October 8, 2026.

Culture Shift

This conversion mirrors a nationwide movement to repurpose aging central business district offices into mixed-use residential spaces. It represents a pivot away from traditional corporate office layouts toward urban density models.

Residents can expect significant construction activity at the site of the former Two Wells Fargo Center, which may affect traffic near 301 S. Tryon St. The addition of new housing and hotel rooms is expected to increase foot traffic and commercial activity within the immediate neighborhood.

The takeaway

Historic designation serves as a financial catalyst for developers looking to revitalize older buildings in a sluggish office market. Homebuyers and hospitality businesses should watch this area as it shifts from a corporate-only hub to a mixed-use residential destination.