The Economy Inn was among a dozen hotels clustered around the Interstate 85 exit at West Sugar Creek Road. It was known as a last resort for people, before ending up on the streets. It was also a hotspot for crime in an area where the violent crime rate is about nine times higher than in Mecklenburg County as a whole.
Charlotte City Council will vote Monday on turning over that property to developers planning to build townhomes where the dilapidated motel one stood.
City leaders bought the four acres for $4.2 million last year, hoping to reduce crime and add more affordable housing. The city demolished the motel and relocated about a dozen residents with the help of $1 million from the Mayor’s Racial Equity Initiative.
The plan now is to sell the property to two affordable housing developers for $1: True Homes and Prosperity Alliance. They’ve told the city they want to build at least 39 townhomes on the property.
The townhomes would be sold to people making 80% of the area median income or less, or about $80,000 for a family of four.
