Groundbreak Carolinas

GroundBreak Carolinas

Your source for construction industry news in the Carolinas

Projects

Carolina Theatre Reaches $51.5 Million Construction Goal for Restoration

by GroundBreak Carolinas Staff on

Foundation For The Carolinas announced that it has reached its construction goal of $51.5 million to renovate the Carolina Theatre, the historic movie palace that has been abandoned since 1978. The goal was topped thanks to a $500,000 gift from Barings, the global financial services firm that recently opened its new headquarters at 300 South Tryon Street.

“The completion of the construction campaign is thanks to a collaboration of private citizens, businesses, the City of Charlotte, Mecklenburg County and, of course, Barings,” said Michael Marsicano, president and CEO of Foundation For The Carolinas. “The generosity of each contributor is a great vote of confidence in our leadership to restore the Carolina Theatre into a gem for our community. The theatre deserves to return to its former elegance and grandeur.”

Construction recently began with a goal of opening in 2020. The 36,000-square-foot historic theatre will feature programming such as speakers, community engagement events, town hall meetings, arts and entertainment, films and more. It is being labeled a civic theatre for its community orientation.

“We are excited to play a part in bringing the Carolina Theatre back to life,” said Tom Finke, Chairman & CEO of Barings. “This is an important project for the City of Charlotte and for the North Tryon corridor, and we look forward to being there for opening night.”

The Carolina Theatre was gifted to FFTC by the City of Charlotte in 2012 with the goal of restoring the classic theatre and creating a civic hub and entertainment venue. The theatre will be part of a larger civic campus known as Belk Place in honor of the families of Katherine Belk and the late Thomas M. Belk, and the late Claudia and John M. Belk. It will also feature an InterContinental hotel atop, owned by the Salter Brothers & Gu Group. The hotel plus theatre will rise to 32 stories.

Learn more about the Carolina Theatre, get updates on construction and find out how to get involved by visiting www.carolinatheatreclt.org or following on Facebook and Instagram: @CarolinaTheatreCLT.