July 02–York Development Group has begun work on a mixed-use development site in Ballantyne that will include a hotel, bank and retail space.
The project, called Colinayre, includes a 110-room hotel, a 25,000-square foot Bank of North Carolina office building and 50,000 square feet of retail space, said York Development owner Doug Baumgartner.
It will be located at the southwest corner of Providence Road West and Johnston Road, across from the Publix in Ballantyne Town Center.
Colinayre is expected to be completed during the fourth quarter 2016.
Baumgartner said the company chose the Ballantyne location because of its placement next to a high-traffic intersection, as well as the overall growth occurring in the area, particularly to the south.
York Development is teaming with the executive team at Red Ventures, which is an investor in the project and owns the 12.5-acre site through a limited liability company.
