Business

Charlotte developer plans mixed-use project near Durham ballpark

July 10, 2015

(The News & Observer, Raleigh)

Charlotte developer CitiSculpt acquired a 12.1-acre site near the Durham Bulls Athletic Park and plans to invest $400 million in a project that includes 300 apartments, offices, retail and one or more hotels.

Asheville hotel sells for $33 million

July 10, 2015

(Asheville Citizen-Times)

Summit Hotel Properties paid about $33 million for the 115-room Hotel Indigo in downtown Asheville. The seller was Pennsylvania-based Hospitality Lodging Investors. Austin, Texas-based Summit plans to invest about $400,000 in capital improvements over the next year.

Report: Wilmington mall could be up for sale

July 10, 2015

(Greater Wilmington Business Journal)

Wilmington's Independence Mall, built in 1979, could be put up for sale by a special servicer later this year, according to a Fitch Ratings report. Fitch reported last year that the mall's $110 million loan was in default and had been transferred to CWCapital Asset Management.

Construction to begin on northeast NC wind farm

July 10, 2015

(The Daily Reflector, Greenville)

A Portland, Ore.-based company plans to start construction next week on a wind farm in Pasquotank and Perquimans counties, local officials say. It is unclear how many turbines the company will build right away; a 2011 proposal called for 150, 600-foot-tall turbines.

SC employees sue Sealed Air over bonus pay

July 10, 2015

(The Charlotte Observer)

Two employees at Sealed Air's manufacturing plant in Spartanburg, S.C., filed a class action lawsuit against the company, claiming they were denied bonus pay after the company changed its method for calculating year-end bonuses.

Financial firm adding 316 jobs in Charlotte

July 9, 2015

(The Charlotte Observer)

Austin, Texas-based Dimensional Fund Advisors will open an East Coast headquarters in Charlotte, creating 316 jobs with an average annual salary of $147,025, more than double Mecklenburg County's average. The financial-services firm could receive up to $18 million in state and local incentives.

AAI Pharma looks at expanding in Wilmington

July 9, 2015

(StarNews, Wilmington)

AAI Pharma might add 50 jobs with an average annual salary of $77,000 in Wilmington. The city and New Hanover County are considering $500,000 in incentives for the pharmaceutical company to expand, contingent on AAI Pharma investing at least $20 million.

Peace University hires new president

July 9, 2015

(WRAL.com)

Brian Ralph was named president of William Peace University in Raleigh. Ralph comes from Queens University in Charlotte, where as vice president for enrollment management he helped increase undergraduate enrollment by more than 60%.

Buncombe adding fewer middle-class jobs

July 9, 2015

(Asheville Citizen-Times)

Asheville and Buncombe County added fewer middle-class jobs over the last five years when compared with jobs in the highest and lowest wage ranges, according to a new report. Nearby Henderson County experienced identical job growth across all three wage ranges.

CommunityOne expands to SC

July 9, 2015

(The Charlotte Observer)

CommunityOne Bancorp plans to open in August a commercial loan production office in Charleston, S.C., its first location outside of North Carolina. Charlotte-based CommunityOne operates 45 branches across the state.