- Associated Press - Wednesday, May 27, 2015

CHARLOTTE, N.C. (AP) - A second upset bidder has placed an offer on the table for a 3.8-acre parcel of land in uptown Charlotte.

The Charlotte Observer (https://bit.ly/1SBpuz9 ) reports Charlotte-based apartment development company Northwood Ravin is offering $14.15 million for the land and plans a mixed-use development.

City of Charlotte real estate division manager Tony Korolos said Northwood Ravin is planning to build up to 50,000 square feet of retail and office space on the site and 400 residential units that could be apartments or condominiums.

Officials say Atlanta-based apartment company Pollack Shores offered $12.2 million for the site, which the city then advertised for upset bids. Camden USA, another apartment company, then agreed to pay $13.3 million for the land.

Korolos says another upset bidder would have to offer just over $14.8 million.


Information from: The Charlotte Observer, https://www.charlotteobserver.com

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