How Camp North End bets on local businesses

Developers often chase big-name national tenants that can guarantee a quick return on investment. Camp North End is largely doing the opposite, and it's helping ensure that local ventures can thrive there.

Why it matters: In a climate where small businesses face rising costs and shrinking consumer spending, Camp North End's model offers a rare path to survival and success.

The concept, which is not new or unique to Camp, is called "percentage rent," explains Damon Hemmerdinger, lead developer and co-president of ATCO, the property's developer.

  • It's used commonly in shopping centers and not typically in urban locations, where landlords own entire buildings or multiple properties, for example.

 
Read more
 

Project: Camp North End
City: Charlotte
State: NC
Publisher: Axios Charlotte

Toru I.