Charlotte’s Center City 2020 Vision Plan called for the renovation of Thomas Polk Park at Trade and Tryon to reinforce the significance of the public space to Charlotte. Built in 1991, the park became obsolete with limited gathering space, poor lighting, outdated landscaping, and a hard-to-maintain fountain. In 2019, the city sought public input as to what kinds of uses people wanted to see in the park.

Due to a loss of funding for the construction of the park, a committee consisting of business and civic leaders began work in 2021 to revitalize and rename the pocket park at the corner of Trade & Tryon to “McColl Park” to pay tribute to one of the city's true trailblazers, Hugh McColl Jr., who is renowned for his leadership role in building the Charlotte of today, his philanthropic efforts and his past role as the Chairman and CEO of Bank of America.

McColl retired from the Bank in 2001 and has partnered with others to launch investment firms McColl Partners, Falfurrias Capital Partners, and most recently Bright Hope Capital, which funds Black-owned businesses to help create wealth in communities of color. Over his career, McColl led development across many uptown locations, championed affordable housing, funded scholarships and college programs, helped bring the Carolina Panthers to Charlotte, and is a longtime supporter of the arts. He is known for quietly mentoring others and working behind the scenes to connect people and back projects that benefit the community.

The purpose of this project is to transform the space located at Trade and Tryon Streets into a premier public space that brings people together, showcases the city's cultural renaissance, celebrates its history, and acknowledges the leadership and impact of Hugh McColl.

Charlotte Center City Partners is managing the design and construction activities for the project and will facilitate engagement with the community, including residents, adjacent landowners, business leaders, historic and other interest groups, donors, and stakeholders.