New Residential Tower Proposed for The Pearl District

Charlotte, North Carolina, December 24, 2025

A new residential tower named Anova is set to be built in The Pearl district of Charlotte, North Carolina, introducing 382 apartments to the burgeoning medical innovation hub. The project aims to enhance the mixed-use character of the district, offering luxury amenities and a commitment to affordable housing. Plans have been submitted, with construction expected to begin in 2026 and completion in 2028. This development reflects Atrium Health’s vision to create a vibrant community in the area while ensuring accessibility for low-income residents.

Charlotte, North Carolina: New Residential Tower Proposed for The Pearl District

Charlotte, North Carolina – A significant step has been taken in the development of The Pearl district with the recent filing of plans for its first residential tower. This pivotal project aims to introduce 382 apartments, marking the initial opportunity for residents to live within the expanding medical innovation hub. Plans for the multi-family tower, known as Anova, were submitted to the City of Charlotte in November. This development signifies a move towards transforming the district into a comprehensive mixed-use neighborhood, extending activity beyond typical business hours.

Project Details and Features

The proposed Anova tower will rise 20 stories high and is slated for construction at the corner of Pearl Park and McDowell Street, directly across from The Pearl’s existing research and education facilities. Developed by Wexford Science & Technology, Atrium Health’s partner in the district, the building is designed to include ground-level retail spaces and a range of luxury amenities. Future residents can expect features such as an outdoor pool and deck, grilling areas, a golf simulator, and a rooftop lounge offering panoramic views of uptown Charlotte. The design also incorporates six floors of indoor parking, which will be integrated and wrapped by residential units.

Commitment to Affordable Housing

As part of the Anova project, 19 of the 382 apartments, representing five percent of the total units, will be designated as affordable housing for low-income residents. This commitment includes allocating half of these units for individuals whose income is below 50 percent of the area’s median income (AMI), and the other half for those earning less than 80 percent of the AMI. For the year 2025, this translates to an annual income of less than $39,300 for a single person or $56,100 for a family of four. To bridge the gap in rent costs, the city’s housing authority, Inlivian, will provide project-based subsidies, ensuring that these units are financially accessible.

Development Timeline and Public Engagement

With the plans having been submitted to the City of Charlotte, the developer, Wexford Science & Technology, has expressed aspirations to commence construction during the first half of 2026, with a projected opening of the building in 2028. Notably, a spokesperson for the City of Charlotte confirmed that no formal public input process is mandated for this type of development. The groundwork necessary for the residential lot’s development was completed in June of this year, preparing the site for the upcoming construction phase.

The Pearl District’s Broader Vision and Context

The Pearl district, spearheaded by Atrium Health, serves as Charlotte’s significant medical innovation hub, currently characterized by research laboratories, educational facilities, and innovation spaces. Its establishment is a long-term endeavor, envisioned as a 10-15 year project aimed at creating a vibrant ecosystem. The district already hosts the Charlotte campus of the Wake Forest University School of Medicine and IRCAD North America, a state-of-the-art surgical training center, alongside various medical technology companies. The addition of residential housing is seen as a crucial component to fostering a truly mixed-use environment and injecting life into the district beyond regular business hours.

Atrium Health initially made pledges regarding affordable housing in 2021 when it secured $75 million in public funding for The Pearl’s development. Recently, community groups and activists have voiced concerns and held protests, urging Atrium Health to fulfill these prior commitments to affordable housing. In addition to the on-site affordable units within Anova, Atrium Health is separately contributing a 30-million parcel of land on North Tryon for the development of more affordable housing. This larger innovation district is a multi-phased project that broke ground in 2023, with its first phase, including the medical school and a research tower, opening in June 2025.

Frequently Asked Questions (FAQ)

What is the latest development in The Pearl district?

The latest development is the filing of plans for the first residential tower in The Pearl district, known as Anova, in Charlotte, North Carolina.

What is the name of the new residential tower?

The new residential tower is called Anova.

How many apartments will the Anova tower have?

The Anova tower is proposed to have 382 apartments.

Will there be affordable housing units in the Anova tower?

Yes, 19 units, representing five percent of the total, will be for low-income residents. Half will be for incomes under 50% of the area’s median income (AMI) and half for under 80% AMI.

When were the plans for the Anova tower submitted?

Plans for the multi-family tower were submitted to the City of Charlotte in November.

When is construction expected to begin and end for the Anova tower?

Wexford Science & Technology hopes to start construction in the first half of 2026 and open the building in 2028.

What is The Pearl district?

The Pearl district is Atrium Health’s medical innovation hub in Charlotte, North Carolina, envisioned as a long-term, mixed-use development.

Is there a public input process for this development?

No formal public input process is required for this type of development.

Key Features of the Anova Residential Tower at The Pearl District

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Author: HERE Charlotte

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