How Camp North End makes room for local businesses
In 1924, Ford built a car plant just north of Uptown Charlotte. Workers made Model T and Model A bodies there until the Depression closed it. The Army moved in next, then a missile plant, then a Rite Aid distribution center. Today those same 76 acres are Camp North End, home to more than 95 businesses and organizations, most of them local.
That took planning. In Plaza Midwood, the new Commonwealth development announced 18 tenants, and one of them is locally owned. A few miles away, Camp North End's developer built its leases around local owners from the start.
How percentage rent works
Many commercial leases charge the same high rent every month, good or bad. Camp North End charges a lower base rent and takes a percentage of sales above a set threshold. When a tenant does well, the landlord does well. When a tenant has a slow stretch, the rent doesn't sink them.
The setup also gives the developer a reason to keep the place busy. They earn more when foot traffic is up, so they market the site and bring in businesses that fit together.
This kind of lease is common in shopping centers. It's rare in cities, and in Charlotte, rising rents have been pushing local owners out of spaces they've held for years.
What it doesn't solve
Businesses still close at Camp North End. Leah & Louise, Wentworth & Fenn and Popbar are all gone. Larger tenants, including big offices and entertainment venues, help carry the project's costs, and that leaves room for the small spaces.
What happens next
In February, Atlanta-based Jamestown invested in Camp North End and became its new lead developer. The original developer is staying on as a partner. Jamestown has approval to build up to 3.2 million more square feet across 41 acres. It has said it wants local and regional chefs for food, and that it's more open to national brands for retail.
At least one longtime tenant has asked publicly for transparency and fair leases for the creative businesses there. I hope they get them. More than a million people visit Camp North End each year, and they come for the people who opened shop there.
What you can do
Go. Buy something from a local tenant. Tell people where you went. A busy local business is much harder to push out.
If you own a business, get listed. Everyone else, join Team Local and tell me your favorite spot at Camp North End.
