The design firm paid $301,500 or $120,600 per acre ($2.77 per sf) for the dirt. The buildings will have 40,000 sf each with condos sitting atop street-level office space. Development costs have not been determined.

Keith MacVean of the Charlotte-Mecklenburg planning department, thinks the growth of residential development in the area could promote more retail.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Development
Multifamily