A team of developers is leading a $25 million renovation project for the Empire Hotel, located at 228 S. Main St. in Salisbury, just 20 miles north of Charlotte. The ambitious plan includes redeveloping 100,000 square feet to create a total of 38 residences and a boutique hotel with 35 rooms. There may also be plans for a steakhouse on the property.
Iron Horse Development is spearheading this project and has named the first phase “Empire Row.” This section will feature two row homes and seven full-floor lofts that will initially be available for rent before being sold after five years. The entire development will be completed in three phases.
Originally built in 1859 and remodeled in 1907, the Empire Hotel has been closed since its permanent closure in1963.The historic building holds significant value to Iron Horse Development as they specializein acquiring, designing,and developing small-to-medium-sized multifamily projects with2 to50 units.
The latest news from Connect CRE reports that Iron Horse Development’s focus on preserving historic buildings aligns perfectly with their current venture – revamping this iconic Charlotte-area hotel into an upscale living destination.
