Business

Charlotte airport seeks to expand, add 4th runway

February 5, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport wants to build a fourth runway at a cost of $92.5 million and increase the number of gates from 93 to 164. The airport will present expansion plans to the Charlotte City Council on Monday.

Proposed Cumberland County solar farm would be NC's largest

February 5, 2015

(The News & Observer, Raleigh)

Principal Solar has acquired rights to build a 78.5 megawatt solar farm in Hope Mills, but the Dallas-based company first needs to secure $173 million in financing. The developer says the solar farm would be the largest in the U.S. east of the Rocky Mountains. Principal acquired the project last month from Fletcher-based Innovative Solar Systems.

North Raleigh shopping mall to be sold for $181M

February 5, 2015

(The News & Observer, Raleigh)

Raleigh's Triangle Town Center shopping mall and the adjacent Triangle Town Place shopping center are under contract to be sold to an institutional investor for $181 million. Chattanooga, Tenn.-based CBL & Associates Properties and The R.E. Jacobs Group currently own the properties as part of a joint venture. CBL will retain a 15% stake. Triangle Town Center has 1.26 million square feet of retail space.

'Downton' exhibit could be boon for Asheville tourism

February 5, 2015

(Asheville Citizen-Times)

Biltmore House expects a 10% increase in visitors in February and March, thanks to a temporary exhibit featuring costumes from the PBS TV series "Downtown Abbey." Mark Hemphill, vice president of marketing for Biltmore, says the bump in attendance should translate into more tourism spending in Asheville. The exhibit will be open through May 25.

McCrory praises FTCC's collision-repair program

February 5, 2015

(The Fayetteville Observer)

Fayetteville Technical Community College held a ribbon-cutting ceremony Wednesday for its $4.5 million high-tech collision repair center. The new program aims to fill a gap in providing skilled workers in the auto-repair industry, which requires more technological savvy than in previous years.

Carolinas HealthCare CEO earned $5.3M in 2014

February 5, 2015

(The Charlotte Observer)

Carolinas HealthCare System CEO Michael Tarwater received $5.3 million in 2014, a 7.7% increase over the previous year. Each of the Charlotte-based health system's top 10 executives received more than $1 million in total compensation last year. The system operates or manages more than 40 hospitals in three states.

11-acre mixed-use project proposed for Charlotte's Providence Road

February 5, 2015

(The Charlotte Observer)

Two Charlotte real-estate firms filed a rezoning request for an 11-acre mixed-use project at Providence and Fairview roads. Levine Properties and Raley Miller Properties are seeking to build a development with up to 225 apartments and 100,000 square feet of retail and dining space. The development would replace the 40-year-old Carmel on Providence apartment complex.

Projects transforming downtown Durham

February 5, 2015

(The News & Observer, Raleigh)

Austin Lawrence Partners began site work last week on a 27-story tower in downtown Durham. The Aspen, Colo.-based developer also plans to renovate the adjacent Jack Tar Hotel and five historic buildings.

NC to receive $21.5 million in S&P settlement

February 4, 2015

(The News & Observer, Raleigh)

Standard & Poor's will pay $21.5 million to North Carolina as part of a $1.38 billion national settlement over practices that may have contributed to the financial crisis in 2008. Federal and state official accused the credit-rating agency of inflating ratings of risky mortgage investments in order to keep its clients happy.

Randolph commissioners OK $4.2M for megasite

February 4, 2015

(News & Record, Greensboro)

Randolph County commissioners voted 4-1 to spend $4.2 million to buy 255 acres of land that will become part of a megasite it hopes will lure an auto manufacturer to the state.