New York-Based Developer Eyes Condo Complex In Charlotte's SouthPark Area
Another big development project appears to be in the works in Charlotte’s SouthPark neighborhood. The Charlotte Ledger business newsletter reports the board of Trianon Condominiums at the corner of Colony and Roxborough roads near SouthPark Mall has signed a letter of intent with developer Related Cos. to sell the complex for $48 million.
The condos were built in the 1960s, but the Charlotte Ledger’s Tony Meica says it’s too early to know if they’ll be replaced and if so, by what. But he notes is roughly 9 acres of property — a rarity for developers in fast-growing Charlotte.
“Although you have development going on all over the Charlotte region, it's a little bit unusual to have a condo complex, because what you have in this case is 118 different owners,” Mecia told WFAE “Morning Edition” host Marshall Terry in this week’s BizWorthy. “So it's hard usually to corral that many people to get them to sell.”
You can listen to the full conversation above. Here’s a quick look at other things we talked about this week.
- Is there an emerging trend of tearing down older housing complexes, such as the Trianon condos, in Charlotte? “We haven’t seen a whole lot of it, really, on this scale,” Mecia said. “Although land brokers that I talk with in Charlotte are saying that we should expect to see more of this.”
- There’s a notable difference in the amount of booze on liquor store shelves on different sides of the North Carolina-South Carolina border, with the Palmetto State having more supply. “The chairman of the North Carolina ABC Commission last week resigned, and said he was overcome by stress, in part, by these liquor supply problems … that I know a lot of people are hoping they get figured out pretty soon,” Mecia said.
- We get an update on the Myers Park Country Club legal saga. A member of the club sued for records related to decisions on a $27 million renovation plan that would expand a men’s only area into what had been a more inclusive dining room. The club was ordered to turn over records in the case, and a lawyer says that’s been done. “We’ll see what happens from here,” Mecia said. “The renovation is ongoing. Still, a lot of people at the Myers Park Country Club are a little bit upset about it.”