Real Estate
New Beaty St. valuation is double Town of Davidson’s
By Kate Stevens. Development plans in this picture-postcard college town continue to move fast despite one volunteer organization’s efforts to preserve its trademark green space and hold elected officials accountable for what organization members say is unchecked growth. Save Davidson, an online Facebook group with more than 1,500 members, has mobilized since its inception in February, […]
Stopped: Davidson terminates ‘Luminous’ project
Sept. 29. Officials in Davidson have terminated the Luminous project, the controversial plan to develop 19 acres of town-owned land. Town officials and the developer were unable to agree to contract terms. The board of commissioners had approved plans to enter negotiations for the $1.65 million sale of wooded land near Main and Beatty streets to […]
Aquesta Bank plans new branch in S. Mecklenburg
Cornelius-based Aquesta Bank plans to open a branch on Ardrey Kell Road in a fast-growing upscale area of South Mecklenburg. The full-service branch, pending approval from the Commissioner of Banks as well as the FDIC, will likely have about 3,000 square feet. “We are expanding in south Charlotte to capitalize on the terrific growth we […]
Town-center style project straddles Cabarrus/Mecklenburg county line
By Kate Stevens. A new 180-acre mixed-use development featuring residential units, retail, office and medical space along with entertainment options in a village center-style layout is coming to Cabarrus County. It will take seven to 10 years to build out. The Farmington development, by Charlotte-based MPV Properties, will split the Cabarrus and Mecklenburg County […]
2017 looks like more of the same: Tight inventories, rising prices
Residential resale prices are up 5.6 percent year over year in Charlotte, a little less than the national average, but a strong showing nevertheless. Charlotte has traditionally seen more moderation around highs and lows than cities like San Francisco or Miami. The national average for December 2016 over December 2015 was 5.8 percent. According to […]
Rising interest rates will have less impact on luxury market
Competition for homes has driven Charlotte area median home prices up from less than $180,000 three years ago to something north of $210,000 depending on where you are. Meanwhile, interest rates are climbing. Pat Riley, CEO of Allen Tate, says mortgage rates could climb another two points in the next couple of years. Thirty-year fixed […]
Construction in downtown Kannapolis to begin this fall
Jan. 24. Lansing Melbourne Group will buy 3.81 acres in downtown Kannapolis for $1.64 million and spend approximately $60 million to construct residential units, a hotel and retail space. The deal, which was approved by Kannapolis City Council Monday night, is part of the Demonstration Project that is expected to transform and revitalize downtown, adjacent to […]
Managing growth in classic small town can be ‘messy’
By Erica Batten. Is Davidson’s small-town charm at risk? Mayor John Woods projected that Davidson’s current population of roughly 12,000 will double in the next four decades, consistent with the rest of Mecklenburg County “Our greatest challenge is managing the effects of change while protecting our small-town character,” Woods said. The consequence of getting it very […]
Volume rises at Allen Tate
Jan. 16. Privately held Allen Tate Co. says closed sales volume rose to $5.45 billion in 2016, compared to $5.16 billion in 2015. Units rose in similar fashion, from 21,565 in 2015 to 22,194 last year. Allen Tate President and CEO Pat Riley said steady growth helps normalize and sustain the market. Low inventory will […]
$14 million expansion in Huntersville for Pactiv plant
Dec. 6. Prairie Brookwood is building a 324,480-square-foot warehouse expansion for tenant Pactiv LLC in Huntersville. The $14 million expansion more than doubles the size of Pactiv’s round-the-clock facility. Pactive, which makes food service disposables and food packaging, will gain 35 new loading docks. The company has more than 11,000 employees in seven countries. Prairie […]
