Duke Energy to leave iconic uptown tower and move to new, 40-floor building

To consolidate and reduce their real estate footprint, Duke Energy’s headquarters will become the 40-floor office building that’s under construction in uptown Charlotte by 2023, the company announced on Monday.

Formerly known as Metro Tower, Duke Energy Plaza is under construction at 525 S. Tryon St., and it’ll be able to house 4,400 employees, the company said in a news release.

Once the new tower is completed, the company will leave the Duke Energy Center — with its iconic handlebar roof and LED light show — at Stonewall and Tryon streets, and Piedmont Town Center in SouthPark. The company said it also intends on selling its 526 Church Street and 401 College Street facilities and exit 400 South Tryon Street.

Duke Energy’s goal for all these moves: reducing their footprint from 2.5 million square feet to 1 million square feet by 2050.

“We’re excited to transition our employees into the Duke Energy Plaza, where we will drive additional collaboration and innovation to deliver the affordable, reliable and increasingly clean energy our customers expect and achieve our goal of net-zero carbon emissions by 2050,” said Donna Council, the company’s senior vice president of administrative services and real estate.

In March, the company said it was under contract to sell its Piedmont Natural Gas Charlotte Business Office to apartment developer Terwilliger Pappas, the Observer previously reported. The move drew the company to “a smaller real estate footprint,” Council said in March.

Despite consolidating efforts, the company said it’s still attempting to “best house its approximately 6,000 employees and contractors in Charlotte.”

A new hybrid work model

Council said the company is working on implementing a new hybrid workplace model that will allow their employees to work onsite or remotely full-time.

“We remain firmly committed to Uptown Charlotte with an office tower that we’ll be proud to call our new home,” she said in a statement.

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Duke Energy’s planned move also will help reduce costs by saving the company $85 million-$90 million over the next five years, according to the company.

“These actions will allow us to operate our business more efficiently, enhance employee productivity and better serve our customers and communities,” Council said. “It will also free up premium real estate in Uptown Charlotte for other purposes.”

Duke Energy Plaza construction

Construction of Duke Energy Plaza is scheduled to be completed by the end of 2022, with interior work extending into 2023, the company said.

Childress Klein Properties is the developer of this new building, and Duke Energy said about 1,000 craftsman and trade workers will work on the construction project.

Duke Energy said it will move into other existing facilities and begin to adopt the new hybrid workplace model until the new tower is done.