Another mostly empty Uptown office building is on track for a serious glow-up, with developers moving to turn the Wake Forest University Charlotte Center at 200 N. College St. into roughly 290 apartments. The five-story block, which has sat largely quiet since Bank of America pulled its staff out in February 2023, is slated for an interior-focused overhaul that would keep the existing facade intact.
A land development construction plan permit was filed Friday by an LLC called RP 200 N Owner, listed in care of Belgravia Management LP, according to The Charlotte Observer. The filing calls for interior renovations that would create about 290 residential units and specifies no exterior demolition or site grading. The Observer noted it is not yet clear when work might begin, and Belgravia did not immediately respond to requests for comment.
Who Owns It And What They Paid
County and court records show the property changed hands in late 2024 for roughly $32.7 million, and it was more than 90% vacant at the time, according to The Charlotte Ledger. The Ledger reported that despite carrying Wake Forest's name, the building had been used primarily by Bank of America until its lease expired in February 2023.
Market Pressure Behind Conversions
Charlotte's office vacancy rate remained elevated in the first quarter of 2026, at about 24.2%, as employers consolidate and newer buildings soak up demand, according to Cushman & Wakefield. With that much slack in the market, many owners are looking to reposition older towers as housing or hotels, a strategy aimed at bringing more people to the sidewalks and cutting down on dark, empty storefronts.
How 200 N. College Fits Into Uptown's Remake
The 200 N. College plan slots into a growing lineup of big Uptown conversions, including filings to turn the former Wachovia Center at 400 S. Tryon into hundreds of apartments and a hotel, along with proposals to rework the former Two Wells Fargo tower at 301 S. Tryon, as reported by WSOC. Developers and city officials say that reusing older office stock as residential space is one way to boost the number of people living in the center city and to support neighborhood retail.
What Happens Next
The land development permit does not include a construction start date, and the timing will hinge on city permitting, financing and design approvals, The Charlotte Observer reported. Neighbors and Uptown retailers will be watching to see whether the project can deliver a fresh wave of residents without undercutting efforts to revive traditional office demand.
