Business

$70M mixed-use project approved in Rock Hill, SC

April 27, 2016

(The Charlotte Observer)

The Rock Hill City Council on Monday approved a $70 million development on the Catawba River that could include 300 apartments and condominiums and 235,000 square feet of commercial space. Premiere Design Solutions, based in Rock Hill, is the developer. Rock Hill is about 26 miles southwest of downtown Charlotte.

Regulators approve $55B Charter-Time Warner deal

April 26, 2016

(The Charlotte Observer)

Charter Communications received antitrust approval for its $55 billion bid for Time Warner Cable, which employs more than 3,100 people in the Charlotte area. Stamford, Conn.-based Charter is also buying Syracuse, New York-based Bright House Networks for $10.4 billion. The deals will create the nation's No. 2 cable provider; Comcast will remain No. 1.

Houston Astros owner tours Fayetteville

April 26, 2016

(The Fayetteville Observer)

Houston Astros owner Jim Crane was in Fayetteville on Monday, where he had preliminary talks with local officials about bringing a minor-league baseball team to the area. Crane said he hopes to have a stadium built by 2018.

Equestrian center acquires more land for hotel, condos

April 26, 2016

(Hendersonville Times-News)

A spokeswoman for Tryon International Equestrian Center in Mill Spring said the1,400-acre resort has acquired additional land and will begin construction on a 180-room hotel, 40 condominiums priced from $450,000 to $1.3 million, and an additional 29 log-cabin rental homes.

Eastland Mall site in Charlotte to become K-8 school

April 26, 2016

(The Charlotte Observer)

Charlotte City Council voted 8-2 to sell 11.4 acres that was once the site of North Carolina's largest shopping mall to Charlotte-Mecklenburg Schools for $650,000. CMS plans to build a language-immersion school for 1,000 students on the site. Some neighbors protested the plan, favoring holding out for a project that would attract more private investment.

NCAA eases up on UNC allegations

April 26, 2016

(The News & Observer, Raleigh)

The NCAA on Monday issued a new notice of allegations to UNC Chapel Hill, one that includes more examples of misconduct by Jan Boxill, former counselor to the women's basketball team. The amended allegations removes mention of football and men's basketball as beneficiaries of fake classes.

ITG Brands to lay off 375 in Greensboro

April 25, 2016

(News & Record, Greensboro)

ITG Brands said it will lay off about 375 workers in June as a manufacturing agreement with Reynolds American expires. ITG bought the cigarette plant last year when Winston-Salem-based Reynolds acquired Lorillard in a $27.4 billion deal. A union representative said the company is planning additional layoffs.

PayPal courtship began last summer; 500 jobs were planned

April 25, 2016

(The Charlotte Observer)

The California-based payment processor initially proposed bringing up to 500 jobs to Charlotte in five years — higher than the 400 previously reported — according to Charlotte City Council minutes. Earlier this month, PayPal withdrew its plans for the Charlotte expansion over HB2.

2 BNC Bancorp deals on hold

April 25, 2016

(Winston-Salem Journal)

BNC Bancorp, parent of Bank of North Carolina, said its $141 million acquisition of High Point Bank has been delayed until the third quarter. High Point-based BNC entered an agreement in March giving it more time to complete its acquisition of Southcoast Financial, originally scheduled to close by March 31. The delays are due in part to two New York advocacy groups questioning BNC's lending practices involving minority and underserved loan applicants.

Duke LifePoint challenges tax value of Jackson County hospital

April 25, 2016

(The Sylva Herald)

Jackson County appraisers valued Harris Regional Hospital and affiliated properties at $42 million, but Tennessee-based Duke LifePoint, which acquired the hospital in 2014, says the 80-acre property is only worth a little more than $13 million and will challenge the appraisal.