TCB awarded $1.25M from city of Charlotte for NoDa mills project
Published: October 8, 2012
Time posted: 9:10 pm
CHARLOTTE — Although it was about $1 million less than the company initially asked for, the Charlotte City Council on Monday approved giving The Community Builders $1.25 million to finish renovating two dilapidated mills in the NoDa neighborhood.
Boston-based developer TCB had asked the city for $2.3 million to convert the Johnston and Mecklenburg mills into work force housing. But it lowered the amount to $1.25 million after the council on Sept. 24 postponed a vote on whether to give $2.3 million to the company.
TCB bought the mills from the city for $1.2 million last year after participating in a public bidding process. The company later came to the city asking for $2.3 million to finish the project, saying it discovered that Mecklenburg Mill was more damaged than TCB initially thought.
Scott Baughman contributed to this report.