Pappas Properties, founded in 1999 in Charlotte, NC, is a leading developer of innovative mixed-use and wellness-focused communities across the Southeast that has set the standard for experience-driven residential, retail, office, healthcare, and wellness-focused developments. Pappas Properties has completed fourteen mixed-use and master-planned communities dedicated to community-building, placemaking, and design to ensure added value to the communities in which they build.
Peter A. Pappas understands the importance of creating destinations that people want to enjoy. And he has developed over three million square feet of retail, office, and residential in some of Charlotte’s most popular submarkets, including Midtown, SouthPark, Huntersville, and Steele Creek.
In this Q&A, Peter A. Pappas, Founder & CEO, reviews some of the high points of the company’s 25th year anniversary in 2024, his vision for Pappas Properties, and what he and his team are working on now.
Q1: Tell us about your early years.
A: I got my start in the Charlotte commercial real estate market working under two titans of the industry. Shortly after my graduation from N.C. State University in 1984, I joined The Bissell Companies where I learned from Smoky Bissell and Johnny Harris who taught me the fundamentals of development, leasing, and brokerage — no two better mentors.
In 1991, Johnny Harris, Pat Clayton, and I formed The Harris Group where I led development and marketing for projects including the mixed-use destination Phillips Place; the 2,000-acre Ballantyne; Morrocroft, a 178-acre multi-use project; and 330 South Tryon.
Around this time, I met with Tom Phillips, a family friend and fellow N.C. State graduate, who controlled a site on which, after many meetings, culminated in Phillips Place, one of the early examples of walkable, mixed-use development in the Carolinas. Our combined vision for that project came from “R&D travels” to Mizner Park in Boca Raton, Reston Town Center in Virginia, Country Club Plaza in Kansas City Lake Forest and Highland Park in Dallas.
Q2: How did you pivot from this to starting Pappas Properties?
A: I spent years going to other cities and looking at the development patterns, paying attention to how you could incorporate different uses into a town center or a village center. In the 1980s, it was a newer concept based on people’s interest to live closer to where they work and walk to restaurants and shopping.
That focus is how I decided to go out on my own in 1999 and start Pappas Properties. We’ve stayed very true to our mission to create mixed-use developments that add value to Charlotte, which is the absolute fundamental of any project that we undertake.
I also feel deep gratification to have had the ability to build and work with my team. It’s really an exciting environment to be part of and keeps me increasingly passionate about our business.
Pappas Properties has since developed millions of square feet of retail, office, and residential space. Its portfolio includes major projects such as Metropolitan in midtown Charlotte, Sharon Square in SouthPark, Berewick and Berewick Town Center in Steele Creek, and Birkdale and Birkdale Village in Huntersville.
Q3: What milestones in your 36-year journey stand out the most for you?
A: I have been fortunate over my forty-year career to work with talented and dedicated partners and associates who strive to deliver communities that add value to the cities in which we work. Pappas Properties is proud to have the opportunity to improve the built environment and, in doing so, improve the lives of many people across our communities. I plan to continue to work to create mixed-use neighborhoods where residents of all incomes and ages will come together to enjoy truly balanced lifestyles that blend work with wellness, social activity, dining, and shopping.
It was a true honor to have received the Pillar Award in recognition of lifetime achievement given at the Charlotte Business Journal’s Heavy Hitters Commercial Real Estate Awards program – and to now join legendary leaders I have long admired in development, including Johnny Harris, Tony Pressley, Smoky Bissell, David Furman, Bob Bertges, Todd Mansfield, Fred Klein, and Ned Curran.
I am proud to have been a part of Charlotte’s growth and work with our elected and public officials along with many community leaders who shared a vision for Charlotte.
Q4: While you have developed this significant portfolio of mixed-use communities through Pappas Properties, you also built luxury multifamily. Tell us about that.
A: Yes, in 2013, I joined industry icon Ron Terwilliger in forming Terwilliger Pappas, a regional apartment development firm. Since then, Terwilliger Pappas has developed forty-two ground-up luxury multifamily communities in Georgia, North Carolina, South Carolina, and Tennessee. As CEO of this company, I have overseen the expansion of the company’s development activities and along with a very talented team led by Bill MacNeil, Alan Dean, and Tom Barker who have built Terwilliger Pappas and our Solis communities into one of the most recognized multifamily brands in the Southeast.
Q5: Though you’ve been active across the southeast, you have maintained a laser focus on Charlotte. Is it a personal mission?
A: I grew up in Charlotte and I have seen significant positive change here. Much of that is owed to our local leaders working together to attract new corporations to Charlotte, build cultural centers and sports arenas along with infrastructure, parks and other open space. I’m proud to be a part of this public/private commitment.
Q6: What are you working on now?
A: At Pappas Properties, which also benefits greatly from the leadership of Tom Walsh and Jim Schumacher, we recently started construction on Cadia Matthews, a wellness-focused, mixed-use community that will include 570 residential units with a mix of product types, along with a 120,000-square-foot commercial village in Matthews, NC just south of Charlotte. We also received approval to start a similar community in Mooresville, NC. Both have a wellness focus. These communities represent a progression of our ability to address the evolving needs and wants of residents while staying true to our mission providing the right mix for today’s communities – and that starts with wellness.
Q7: What are your company’s goals and aspirations for the next decade?
A: As I’ve said, I am so grateful for my friends, team, partners and family here in the Charlotte area – and I hope to see the next generation continue investing in both this area and this type of development – so I started thinking about how I could make a long-term impact.
As a result, my family made a $10 million commitment this year to N.C. State, my alma mater, to start the Pappas Real Estate Development Program that will champion community building through placemaking by fostering student and professional growth in design-focused, STEM-integrated, real estate development, and education. The program will also focus on land use, transportation, and open-space planning. Aligned with North Carolina State University’s commitment as a research-extensive land-grant university, the curriculum addresses excellence in teaching, knowledge application, and engagement with community partners. The first classes are now underway.
I’m proud to have dedicated so much of my efforts to the community, by serving as a former chairman of the Charlotte Chamber, board member for the Terwilliger Center for Housing at ULI, the N.C. Department of Transportation, the Metropolitan Planning Organization, the Blumenthal Performing Arts Center, and the Charlotte Executive Leadership Council.
But I couldn’t have been this active without the support of my team, my partners — most of whom are very close friends – who have been integral to the growth of our companies and supported me as we’ve taken on these varied development projects. And, of course, my family has been a huge part of all of this as they allow me to pursue what I hope is collective success for them and for future leaders.
