The online loan marketplace LendingTree plans to move its headquarters next year from Ballantyne in south Charlotte to the South End. About 500 employees will relocate to a new building being developed by The Spectrum Companies, at South Tryon Street and Carson Boulevard.
LendingTree announced in December it was keeping its headquarters in Charlotte, and had narrowed its search to three sites. The company is getting about $11 million in state, county and local tax breaks and other incentives to keep the headquarters in North Carolina. LendingTree also pledged to create 436 new jobs over the next five years.
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In a statement Tuesday, founder and CEO Doug Lebda said the company wanted to be closer to uptown. “Proximity to our financial services partners in uptown and the amenities of South End, combined with convenient light-rail and highway access, make this an ideal spot for our company and the 500 employees who live throughout the metropolitan area,” Lebda said.
LendingTree plans to take 175,000 square feet in one of two planned 11-story office towers, a block away from the Carson light-rail stop. Groundbreaking on the first tower is planned in June, and the building is expected be completed in late 2020, LendingTree said.
Construction of the second tower is expected to start later this year. Spectrum says the project will include a hotel, shops, meeting facilities, a restaurant and a rooftop bar.
Spectrum Companies web page on the South End Project