History
The site is located directly across from the former Duke Energy Center which once housed Duke Energy's corporate headquarters. The lobby will also be on South Tryon Street. The site is a 2.1 acre former parking lot that was purchased in 2017 for $27.5 million. The land purchase was six transactions from two separate companies. 1.8 acres was divided into 5 transactions purchased from Consolidated Realty Co. for $22.9 million. The final .3 acre lot was purchased from Eastern Federal Corp. for $4.6 million. The building combines tube structure design with traditional cast-place concrete. The tower is the second-tallest building in the world to use this design. It also utilized a form work system that climbed with the structure to create concretes forms. According to building contractor Batson-Cook "The schedule the team has established allows them to turn a 25,000-square-foot floor every week on the tower," according to a Baston-Cook news release. "Once a floor had been poured, the hydraulic lifting system rose the frame up to the next level and prepared for the next form. A system like this improved efficiency, reduced time spent lifting the frame from level to level, and improved the team’s safety performance." Affiliates of CGA Capital and Childress Klein funded the construction and development cost, and once completed will buy the building for an estimated $675 million, a record high building sale for Charlotte. The sale price could vary since final construction costs have not yet been determined. Childress Klein is the developer of the project. Duke will lease back the entire building. On August 20, 2021, the building was topped off when the last patch of concrete floor was added. It is scheduled to be completed by the end of 2022 with interior work completed in 2023. Duke has 7,700 employees in the Charlotte area