- 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


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide