Tony Brown Jr., a broker and owner of Realty World Genesis in Charlotte, was found guilty of fraud and must pay three California firefighters $667,350 each, a federal bankruptcy judge has ruled.
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Rooftops+Recovery+Recent Hospital Expansion=Commercial Real Estate Revival. That appears to be formula at work in The Park-Huntersville – and its joined-at-the hip spin-off, the Gilead Center – where seven new construction projects are underway or in the pipeline.Read More »
Some Charlotte homeowners will soon start receiving corrected 2011 property tax evaluations as a county-hired appraiser just completed a first batch of revaluations in Myers Park. The completed revaluations by Pearson’s Appraisal Service of 247 parcels were approved by Mecklenburg County Commissioners on Tuesday.Read More »
Louise Cotton Mill, now known around town as Hawthorne Mill, is one of several old textile factories that serve as a historic reminder of what became known as Charlotte’s first true industry in the late 19th and early 20th centuries. But the redevelopment of Hawthorne Mill differs from new multifamily development in that developers can’t just come in and put up projects as they wish. There are strict guidelines governing historic properties that don’t apply to new projects.Read More »
SunTrust Banks Inc. said Thursday that it agreed to cash payments and consumer relief totaling more than $1 billion to settle claims over its handling of government-backed mortgages.Read More »
It might be roiling Washington, D.C. and its suburbs, but, so far, the government shutdown is having little effect on Charlotte’s real estate and banking markets.Read More »
The North Carolina Department of Justice is preparing to reach out to about 1,100 people who purchased properties at two coastal North Carolina developments in Carteret and Onslow counties. Noelle Talley, public information officer at the N.C. Department of Justice, said the Consumer Protection Division will be sending letters to the buyers of properties at two communities, Cannonsgate and Summerhouse, to encourage them to file claims if eligible.Read More »
Ridge Creek IV was the first large industrial building built in Charlotte in five years, and with around 200,000 square feet of space for the taking, the Childress Klein Properties-owned building seemed ideal to reel in those tenants who were waiting for a recovery to make a move to buildings new. But only one tenant has signed a deal since the building opened.Read More »
The latest twist in a rezoning drama that has been going on for 18 months has left developer CN Hotels of Greensboro with no room for an inn. The outcome of a contested rezoning usually satisfies either the protestors on one side or the landowner and developer on the other. But the case of a vacant 0.72-acre lot at 6026 Park South Drive has been anything but usual.
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More than one year, two developers and a rezoning battle later, construction is finally underway on new Class A apartments in the Kenton Place mixed-use development on West Catawba Avenue. Kenton Place Partners LLC of Charleston, S.C., last Tuesday pulled nearly $3.5 million in Mecklenburg County building permits to start construction on a three-building, 210-unit complex, which is expected to build out at a cost of more than $25 million, according to Lance Youngquist, one of three partners behind the project.Read More »