"A" for effort, but "C " for execution. The music factory has a whole bunch of cool stuff going on throughout the year and has become a new nightlife destination for Charlotteans. The only problem is that even though I could basically see it out of my window over on N. Church St., it is basically cloistered on all sides by freeways, railroad tracks, a cemetery, and dark wooded shady (not referring to the lighting) areas.
Most, if not all people, will arrive here by car - even if you live in Uptown - because it would be unsafe to arrive by any other means. It's a shame because you don't have an Uptown urbane feeling, which would be cool since the place is a cool collection of old factory buildings and etc. Also, the options are not as varied as you might hope, most places (as is the case too often in Charlotte) are epicenter-esque fancy-ish higher priced spots. Give it another decade and maybe there will be some more authentic local spots.
If 9th street still connected through from uptown proper to the music factory it might make a big difference (right now you'd have to illegally cross ~4 sets of heavily used RR tracks).