Mid-America Apartment Communities is advancing plans for a new multifamily project at Phillips Place in SouthPark, seeking a zoning change that would allow construction of a 275-unit apartment community alongside 15,000 square feet of commercial space. The proposal would add a residential component to the established mixed-use destination while introducing new commercial area to the property.
According to reporting from The Charlotte Business Journal, the planned apartments and commercial space would rise on the site formerly occupied by a Regal Cinemas theater. The movie theater, which once served as an entertainment anchor for the center, was demolished in 2022, clearing the way for redevelopment of that portion of the property.
Phillips Place itself is a 134,000-square-foot mixed-use center that was originally developed by Lincoln Property Co. The project opened in 1997 and has since operated as a combination of retail and other uses in the SouthPark area. Its long-standing presence in the market positions it as a mature asset now poised for an additional phase of development focused on housing and commercial space.
Ownership of Phillips Place changed hands in late 2025, when Simon Property Group Inc. acquired the property from Lincoln and The Village Collection. The national retail developer purchased the mixed-use center in November 2025 for $144,800,000, adding the SouthPark asset to its portfolio of shopping and mixed-use destinations across the country.
Mid-America Apartment Communities, the firm pursuing the zoning change, is a large multifamily owner with a broad footprint. The company owns and operates more than 300 properties across 16 states and Washington, D.C., reflecting a sizable national platform focused on apartment communities. Within the local market, MAA entered Charlotte in 2010 and has since built a regional portfolio that now exceeds 20 properties.
If approved, the proposed Phillips Place project would expand MAA’s presence in the Charlotte area while further integrating multifamily housing into a well-established mixed-use environment. The combination of new residential units and additional commercial space at a legacy retail property underscores ongoing interest in enhancing density and diversifying uses at proven centers.
