Charlotte

ACC tournament will move back to NC in 2019 and 2020

March 28, 2014

(The Charlotte Observer)

A day after announcing it would move the ACC men's basketball tournament to Brooklyn in 2017 and 2018, the conference said the tournament will be held in Charlotte in 2019 and Greensboro in 2020. Charlotte has hosted the tournament 12 times, most recently in 2008 when it had an estimated economic impact of $17.2 million. 

Electrolux unveils new laundry research center in Charlotte

March 28, 2014

(The Charlotte Observer)

Electrolux North America's new laundry research and development center continues the Swedish appliance-maker's expansion in Charlotte, adding 60 new jobs and growing its local employment total to 925.  

Charlotte pair to make map of all NC barbecue restaurants

March 28, 2014

(The Charlotte Observer)

A duo from Charlotte reached their $10,000 goal on the website Kickstarter.com and will produce a detailed map of every barbecue restaurant in North Carolina. The maps, which will feature at least 300 locations, will sell for less than $10 each at restaurants and gift shops.

Charlotte to name new mayor on Monday

March 28, 2014

(The Charlotte Observer)

A day after Patrick Cannon was arrested on corruption charges and resigned as Charlotte's mayor, City Manager Ron Carlee said much of the mayor's job is ceremonial and that Charlotte is not a "pay to play" city. Charlotte City Council will name a new mayor on Monday.

Charlotte Mayor Patrick Cannon resigns after corruption charges

March 27, 2014

(The Charlotte Observer)

Charlotte Mayor Patrick Cannon resigned Wednesday evening after being arrested on charges of theft and bribery. The FBI, which began investigating Cannon in 2010 when he was a city council member and mayor pro tem, alleges he took tens of thousands of dollars in bribes. Cannon, 49, could face up to 50 years in prison and $1.5 million in fines if he is convicted.

Bank of America reaches $9.5 billion settlement with housing agency

March 27, 2014

(The Charlotte Observer)

Charlotte-based Bank of America will pay $9.5 billion to settle a case with the Federal Housing Finance Agency over claims the bank violated securities laws when it sold mortgage bonds to Fannie Mae and Freddie Mac between 2005 and 2007.

Bank of America announces first dividend increase since financial crisis

March 27, 2014

(The Charlotte Observer)

Bank of America will increase its quarterly dividend for common shareholders to 5 cents a share, up from a penny a share, and will repurchase $4 billion in common stock. It is the first dividend increase for the Charlotte-based bank since 2009.

Charlotte developer plans 68-acre expansion of Berewick community

March 27, 2014

(The Charlotte Observer)

Pappas Properties is planning a 68-acre expansion of the 1,200-acre Berewick community in southwest Charlotte.  About 1,100 homes have been built in the master-planned community over the past decade. Miami-based Lennar Corp. will build up to 200 new homes with prices starting in the low $200,000 range. 

MetLife received 77,000 applications for Charlotte jobs

March 26, 2014

(The Charlotte Observer)

More than 77,000 people appllied for the 1,300 positions MetLife will create at its new retail operation in Charlotte. The New York-based insurance company has filled more than 900 jobs, with 700 of those going to local residents. The company also plans to create 1,300 jobs at a technology and operations center in Cary.

Heilig-Meyers building in downtown Concord to become apartments

March 26, 2014

(The Independent Tribune, Concord)

The Concord City Council decided Monday to sell the nearly 30,000-square-foot former Heilig-Meyers building to a developer who plans to renovate it into apartments. 

Crescent reveals plans for two mixed-use projects in uptown Charlotte

March 25, 2014

(The Charlotte Observer)

Charlotte City Council approved a $10.3 million bid by Crescent Communities to purchase a city-owned parcel in uptown Charlotte near the NASCAR Hall of Fame where the firm plans to build a 27-story office tower. The real-estate development firm revealed it also wants to build a second mixed-use project that would include a hotel, apartments and retail space at another uptown site.

Novant Health announces new Charlotte outpatient center for cancer, heart patients

March 25, 2014

(The Charlotte Observer)

Novant Health Presbyterian Medical Center in Charlotte announced a $60 million fundraising campaign to raise money for a 150,000-square-foot outpatient service center for cancer and heart-disease patients. The overall cost of the project will be between $90 million and $100 million. A $10 million gift from the family of the late John M. Belk kicked off the fundraising effort.

Charlotte man must pay $2.1 million penalty for involvement in Ponzi scheme

March 25, 2014

(The Charlotte Observer)

A federal judge ordered Mitchell Brian Huffman to pay a $2.1 million civil penalty for operating a Ponzi scheme between 2006 and 2011 that raised $3.2 million from about 30 participants. 

Lawyer representing DENR in coal-ash case worked with Duke before

March 25, 2014

(The News & Observer, Raleigh)

The lawyer hired to represent the N.C. Department of Environment and Natural Resources during a federal investigation of the agency's regulation of Charlotte-based Duke Energy's coal-ash storage previously represented Duke in a 2004 federal investigation. 

Charlotte apartment construction at all-time high

March 24, 2014

(The Charlotte Observer)

Apartment construction in Charlotte has reached an all-time high, with more than 10,000 units under construction and another 11,000 units proposed.

Charlotte considers $72 million indoor-sports complex

March 24, 2014

(The Charlotte Observer)

A Sarasota, Fla.-based developer has proposed a $72 million hotel and indoor-sports complex near Bojangles' Coliseum in east Charlotte. The city is considering an upfront payment of $18 million and a $1 per year lease for GoodSports, which would host indoor youth sports tournaments.

New transit station for downtown Charlotte still on hold

March 24, 2014

(The Charlotte Observer)

After a decade of planning, the N.C. Department of Transportation still has not secured enough money to pay for construction of a $150 million project that would include a new, modern transit hub in downtown Charlotte.

DesignLine's Glosson was behind failed venture with Carolinas HealthCare System

March 24, 2014

(The Charlotte Observer)

The man behind Charlotte-based DesignLine, the hybrid-bus maker that filed for bankruptcy protection last year causing investors to lose more than $30 million, previously led another failed venture in which he partnered with Carolinas HealthCare System.

DENR drops settlement with Duke in coal-ash lawsuits

March 24, 2014

(The News & Observer, Raleigh)

The N.C. Department of Environment and Natural Resources withdrew a proposed settlement with Duke Energy in two lawsuits filed over pollution at the company's coal-ash storage sites in Asheville and Gaston County. The settlement would have fined the Charlotte-based utility $99,000 and would not have required the coal ash to be moved.

Bobcats ask Charlotte for $41.9 million for arena upgrades

March 21, 2014

(The Charlotte Observer)

The Charlotte Bobcats and the Charlotte Regional Visitors Authority, which co-manage city-owned Time Warner Cable Arena, have asked Charlotte for $41.9 million for improvements to the 8-year-old stadium. The request includes relocating the ticket office and restaurant and suite renovations.