Title
Symphony Park Infrastructure Reimbursement Agreement
Action
Action:
A. Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with South Park Community Partners (SPCP) for the design and construction of transportation and park improvements in an amount not to exceed $8,000,000, and
B. Adopt a budget ordinance reappropriating $770,229.08 from the Park South Drive Extension project to the Symphony Park Redevelopment project in the General Capital Projects Fund.
Body
Staff Resource(s):
Sha Rana, Economic Development
Todd DeLong, Economic Development
Explanation
§ Symphony Park is approximately 7.5 acres located at the corner of Barclay Downs Drive and Carnegie Boulevard in Council District 6.
§ The Park is owned by Simon Property Group and is required to be made available for public use as a park facility.
§ The city partnered with the Urban Land Institute (ULI) in 2016 to facilitate a ULI Technical Assistance Panel (TAP), which recommended strategies to transform the area into a more walkable, multimodal, and mixed-use activity center.
- The TAP emphasized the need for improved pedestrian connectivity, diversified land use, and the creation of public spaces.
§ SouthPark was one of the six Comprehensive Neighborhood Improvement Program (CNIP) areas supported by bond funding in 2016 and 2018. More than $7.2 million of funding will be contributed from the CNIP program, as well as $770,229.08 from the 2016 Park South Drive Extension project in District 6, which was determined to not be viable.
§ The SouthPark CNIP Playbook, finalized in 2018 after extensive community engagement, identified top projects to enhance connectivity, green spaces, and public amenities.
§ The SouthPark Forward 2035 Vision Plan positions Symphony Park as a central element in transforming SouthPark into a more connected, vibrant, and community-focused district.
- This plan envisions Symphony Park as SouthPark’s signature open space, reimagined to increase programming and connectivity to the greater community.
- The transformation of Symphony Park is part of a broader vision aimed to create spaces that foster community gathering and drive economic growth.
§ To support the transformation of Symphony Park, the city would partner with SouthPark Community Partners and Simon Properties to facilitate a $21 million revitalization of the space.
- The funding comprises up to $8 million from the city, approximately $8 million from Simon Property Group, and approximately $5 million from a capital campaign led by SouthPark Community Partners.
§ Under this agreement:
- Simon Property Group will retain ownership and maintain permanent public access through the necessary easements and/or deed restrictions;
- Simon Property Group will manage and lease anchor retail buildings;
- SouthPark Community Partners will manage and lease micro-retail spaces focusing on small businesses and local entrepreneurs; and
- SouthPark Community Partners will be responsible for the design, development, and construction of the micro retail space, park enhancements, the loop segment, and access improvements under a development agreement with the city.
§ Any cost overruns will be supported by SouthPark Community Partners or other private partners.
§ SouthPark Community Partners and Simon Property Group will collaborate on design, project management, and construction to ensure economies of scale and design continuity across the park footprint.
§ Construction is projected to begin late summer 2026 and last about nine to 12 months.
§ The proposed public private partnership was introduced to the Jobs and Economic Development Committee on April 7, 2025, and later discussed during the City Council meeting that evening.
§ The partnership was discussed in greater detail during the May 5, 2025, Jobs and Economic Development Committee, where the committee voted three (Graham, Mitchell, Molina) to one (Driggs) to recommend approval to City Council.
Charlotte Business INClusion
Prior to the City Manager executing the infrastructure reimbursement agreement, the CBI Office will negotiate a minimum 12.00% MBE and 10.00% WSBE contract goal on all work tied to this agreement.
Fiscal Note
Funding: General Capital Investment Plan
Attachments
Attachment(s)
Map
Budget Ordinance