Brooklyn Village Developers Could Get 10-year Extension To Buy Marshall Park
Twelve years ago, the city of Charlotte and Mecklenburg County swapped land uptown.
The city got land for what would become BB&T Ballpark. From the city, the county got Marshall Park.
The park is supposed to become Brooklyn Village – a huge redevelopment that would transform Second Ward.
Under that 2007 agreement, the county has until the end of this year to sell the park to a private developer. If not, the park reverts back to the city.
But the City Council will vote Monday on giving the county another decade to sell the land. The county’s new deadline to sell would be 2029.
"It’s a 10-year extension," said Pam Wideman, the city's housing director. "And so if you think about how development cycles work, and if you think about the complexity of the development, 10 years is the amount of time that the county believes the development will be complete."
But it’s also possible that construction might not begin until 2030 or land - since the extension only refers to the purchase of the land.
Last year, the county selected BK Partners to develop the site. But BK Partners - led by New York City developer Don Peebles - has not yet bought the land from the county.
The Brooklyn neighborhood – in Second Ward - was once a thriving African-American community. But it was destroyed in the 1960s as part of urban renewal.
The city said the extension will help it continue to have "leverage" to secure affordable housing on the site from BK Partners.