Public Funding For Midtown Redevelopment On City Council Agenda Monday Night
Charlotte City Council members Monday evening will consider a proposed redevelopment project near Dilworth - a plan that includes more than $4 million in public funding.
Charlotte developer Pappas Properties last year proposed the plan to redeveloped more than 5 acres around Kenilworth Avenue in the Midtown area. The mixed-use project would include a new building to replace the current offices of the Charlotte Regional Realtor Association, plus other office and retail space, multi-family housing, and a hotel.
Under an agreement already approved by the City Council's Economic Development Committee - City and County governments would reimburse Pappas Properties for about $4.4 million in public infrastructure improvements. That would include extending streets and relocating some water and sewer lines. The deal also depends on several land swaps between Charlotte and Mecklenburg County governments.
The proposed redevelopment would increase the size of Pearl Street Park, along Kenilworth Avenue. The City says the project would also create a new link between the Irwin and Little Sugar Creek Greenways, and give cyclists more options.