Charlotte

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.

Charlotte agreement with Hesse, Studio Charlotte is off

March 21, 2014

(The Charlotte Observer)

Charlotte City Council voted unanimously not to extend its exclusivity agreement with Studio Charlotte Development to develop a proposed movie studio, retail and office complex at the site of the former Eastland Mall. Studio Charlotte's Bert Hesse said he needed more time to see whether the state General Assembly would renew the film tax credit when it reconvenes in May.

Report says Bank of America to cut more jobs

March 20, 2014

(The Charlotte Observer)

Bloomberg reported that Bank of America is cutting jobs in its global trading and investment banking units, though the Charlotte-based bank would not confirm the report. While some of the bank's employees in those divisions are based in Charlotte, most are in New York.

Charlotte's Lincoln Harris to examine redeveloping Golf Links property

March 20, 2014

(The Charlotte Observer)

The Rea family, which owns the 187-acre land where Charlotte Golf Links operated until it was shut down last week, has asked Charlotte-based real-estate development firm Lincoln Harris to study the property for possible redevelopment.

Charlotte political pioneer Liz Hair dies at 94

March 20, 2014

(The Charlotte Observer)

Elisabeth Green Hair, the first woman to be elected chair of the Mecklenburg County Board of Commissioners, died at her home on Wednesday. She was 94. 

Banks complete consumer-relief requirement in mortgage settlement

March 19, 2014

(The Charlotte Observer)

Bank of America and Wells Fargo have completed homeowner-relief obligations required of the banks as part of a 2012 legal settlement involving five mortgage servicers. Bank of America said it helped 300,000 customers through principal forgiveness, refinancing and short sales.  

Two Charlotte groups submit pitches for new brewery

March 19, 2014

(The Charlotte Observer)

Both the Charlotte Chamber and the Charlotte Regional Partnership submitted proposals for Escondido, Calif.-based Stone Brewing Co. to build a new East Coast brewery that would create an estimated 370 jobs. Other N.C. cities reported to be pursuing the brewery are Asheville, Greensboro and Wilmington.

Pay for Wells Fargo CEO stays the same in 2013

March 19, 2014

(The Charlotte Observer)

San Francisco-based Wells Fargo CEO John Stumpf earned $19.3 million in 2013, the same as the year before. Stumpf's salary was still higher than that of Charlotte-based Bank of America CEO Brian Moynihan, who earned $14 million in 2013.