Could Queen City Quarter become an everyday destination in Uptown Charlotte? – WSOC TV

Could Queen City Quarter become an everyday destination in Uptown Charlotte?  WSOC TV

The Charlotte Hornets are part of an ownership group that purchased the former EpiCentre complex in Uptown Charlotte, now known as Queen City Quarter, for $27.5 million. CHARLOTTE — The Charlotte Hornets are part of an ownership group that purchased the former EpiCentre complex in Uptown Charlotte, now known as Queen City Quarter, for $27.5 million. The purchase price covers a property with an estimated value of nearly $100 million. Sports analysts consider the three-company venture well financed. Erik Spanberg, a reporter with the Sports Business Journal, noted that the acquisition follows earlier municipal approvals for facility upgrades. “I don’t think many of us knew that the Charlotte Hornets were going to be part of the buying group,” Spanberg said.

He added that “it started when the city approved the arena renovations and the training center,” explaining that “teams want to surround their arenas and stadiums with things that they develop and own.” Rick Schnall, co-owner of the Charlotte Hornets, hinted in May that broader developments were being considered alongside basketball facilities. “From the beginning, this project is more than it is not just about basketball,” Schnall said. “It’s about continuing momentum in Uptown Charlotte in the city of Charlotte and strengthening the Spectrum Center and the community around it.” Other NBA franchises have pursued similar arena-adjacent real estate projects.