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New development heading to NoDa, small businesses worry about rising rent costs

A local art curator was forced to close his doors with the threat of rent doubling in price.

CHARLOTTE, N.C. — A nearly 500,000 square foot development is set to break ground in NoDa by the end of the year. A lot of of new businesses and opportunities have moved into the area the last few years, but some NoDa small businesses told WCNC these new additions have could have a negative impact when it comes to rising rent.  

NoDa is like a painting. Vibrant spots and people all mixed. Each brush stroke adding to this eclectic spot. For some, it’s like a new addition is added to the canvas daily. 

Matt Alvis is an art curator in NoDa and used to run an art gallery on the main strip. 

"Just yesterday was my last day in the space," Alvis said.

He had to close his doors because of rising rent costs priced him out. His rent more than double, and he’d have to pay around $4,000 a month.  

Data from the National Association of Realtors shows commercial rent nationally is up 11% from 2021 to 2022. 

Alvis fears that with the changing landscape other small businesses will be forced to follow suit. 

“I was the last one. I was the last art gallery out here," Alvis said. “It’s definitely pushing out any sort of boutique people will come to look at.” 

Before, Alvis could carry 100 local artists, but now can only have a dozen through Art Cart NoDa.

Without a storefront he’s now open as a pop up shop and still debuts local artists but he’s had to scale back. 


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