FAQ

The first phase of Charlotte’s new economic development and innovation hub is underway, with two signature parts of The Pearl now open:

1. The Howard R. Levine Center for Education, which houses the Charlotte campus of Wake Forest University School of Medicine, Carolinas College of Nursing and, soon, other educational programming.

2. 905 Pearl Park Way, a research building anchored by the North American headquarters of IRCAD, a global surgical training center that is expected to draw more than 8,000 medical professionals to the innovation district each year for advanced training in minimally invasive surgery techniques

Often described as a “super-magnet,” some of the biggest names in advanced medical technology  have located, or are considering locating, parts of their operations in the innovation district. The space at The Pearl is specially designed to create opportunities for entrepreneurial activity, research and industry to intersect, in hopes of bringing together great ideas with people who can help make it happen.

This initial phase — a $1.5 billion development — created or supported 5,000 direct construction jobs. Over time, The Pearl is projected to create 5,500 direct onsite jobs, 11,500 jobs in the Charlotte region and over 14,000 across the state of North Carolina, with countless additional jobs likely created indirectly due to its impact.

The creation of thousands of good-paying jobs in health care and other growing fields like technology and biomedical research will expand and enhance economic opportunities in our community.

As with all major mixed-use projects, the innovation district is being developed in phases — which will include academic, commercial, hospitality, research, residential and retail space. The development of these additional components of The Pearl will utilize multiple developers over a period of decades to advance the project and its goals.

As part of the residential space, as of October 2025, Atrium Health is in talks and working with a housing developer who plans to develop onsite housing and intends to include 5% of a residential development for affordable/workforce housing.

Ambitious mixed-use developments of this scale and size take decades to complete, with planning, financing, zoning, permitting and other considerations impacting each segment. We estimate the innovation district will expand over the next decade, as additional parcels are developed and new buildings come online. This is in-line with similarly situated projects nationwide that are developed around anchor properties, allowing additional private sector partners to come onboard.

Atrium Health was approved for a Tax Increment Grant (TIG) from the City of Charlotte and Mecklenburg County. However, it has not yet received any TIG funding from the grant from either the city or the county, as of Nov. 1, 2025, nor has The Pearl, its members or its developers.

TIG grants are reimbursement-based incentives to create economic growth, specifically tied to increased property taxes. Prior to the construction of The Pearl, much of the land where it is situated was not subject to property taxes.

A TIG provides for reimbursement of a portion of incremental tax revenue increases created by an economic development project. They do not reduce existing tax revenues; it is solely a function of new taxes coming onto the rolls due to the development. In the case of The Pearl, Atrium Health can receive reimbursements to partially offset the cost of infrastructure, like utilities and construction, paid over the next two decades as project benchmarks are met.

The Pearl was also approved for a grant from the City of Charlotte’s Capital Investment Plan fund. To date, it has received $5 million in reimbursement for infrastructure improvements made at the site.  

Atrium Health understands how the health and well-being of members of our community depends on having a safe, stable place to live. We have a long-standing commitment to addressing the issue. This includes $20 million committed via the Housing Impact Fund, dating back to 2020, providing for 2,200 affordable housing units to date, as well as 75 permanent supportive housing units for individuals transitioning out of homelessness.  

Connected to the planning and financing of The Pearl, Atrium Health made a commitment to the City of Charlotte and Mecklenburg County to create additional affordable/workforce housing through the contribution of a 14-acre site it owns on North Tryon Street. Atrium Health previously deed restricted the property to ensure any future development of the land will be for affordable/workforce housing, fulfilling the terms of the Tax Increment Grant.

This North Tryon site will be included as part of a development project led by Inlivian, the city’s housing authority, which owns the adjacent property. Combined, the site encompasses roughly 28 acres near the light-rail line.

As of October 2025, Atrium Health is in talks and working with a housing developer who plans to develop onsite housing and intends to include 5% of a residential development for affordable/workforce housing.

Let’s start with figuring out what kind of space you are looking for; visit our page on office and lab space to learn more. We’ve also got you covered if you’re looking for retail space. Once on the page, fill out our form or reach out to the contact provided for your desired location.

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