Simon Property group, owner of South Park and Concord Mills made a bid for General Growth Properties, owner of Carolina Place Mall in Pineville. General Growth Properties is currently in bankruptcy . Under the plan proposed by Simon, $10 billion would be paid for General Growth a cash and stock buy.
This would give Simon Malls control over three area malls. Charlotte’s North Lake Mall is owned by Taubman Centers, Inc. of Michigan.
The N.C. Department of Transportation posted a press release today that has further details for the final leg of 485. The state has narrowed the companies down to four finalists which include:
Next steps in the development process include:
Under the plan announced by Bev. Perdue, the companies would be responsible for taking on $50 million in debt to help finance the project. This money would be paid back from the state over 10 years.
South Tryon Street is going to squeeze down to 3 lanes between Carson Blvd. and Stonewall Street. 
Under plans proposed by CDOT the road will have wider sidewalks (to be built with developments), a bike lane, and three travel lanes. The project will be a ‘test’ for 90 days because South Tryon (NC-49) and the bridge over I-277 are state roads and the state wants to make sure that traffic does not suffer.
To ease traffic in the area, Church street between Carson and Morehead will also be turned into a two way street to allow left turns onto Morehead towards I-77.
A rezoning request for 110 units of ‘affordable housing’ has the Ballantyne community upset due to the location. While technically just over the line of what is formally considered ‘Ballantyne,’ the rezoning’s proximity to the Ballantyne Country Club has many members and residents upset. Currently the area boasts a wide mix of incomes from million dollar homes to affordable apartments, town homes, and a few miles down the road is South Carolina.
The rezoning calls for three residential buildings no more than 65 ft in height and one commercial building, including a teller building for a bank to be built on the 6.97 acre lot.
Rezoning Application | Rezoning Map | Rezoning Site Plan
Update: The Charlotte Housing Authority (CHA) has decided to pull out of this project.
A press release from the US National Whitewater Center announced that the center has restructured their debt to pay 12.4 million back to their lenders over the next five years. This translates into huge savings for the center which will not have to repay over two-thirds of their original debt. 43 lenders – banks, foundations, corporations and individuals agreed to the terms.
The US National Whitewater Center sits on rougly 400 acres next to the Catawba River and Gaston County. Providing recreational services such as rafting, biking, climbing, and meeting space for the community.
The Park Condo Tower’s new owners, The Small Brothers of Naples, FL, plan to turn the project into a mix of condos and hotel rooms.
Under a rezoning application submitted to the city, the project will include 74 condo units, up to 148 hotel rooms, a rooftop restaurant and garden, and 1445 sq ft of ground floor retail space.
The Small Brothers bought the empty building roughly after construction stopped nearly two years ago. At the time, owner and architect defaulted on loans which put the project on hold.
A public hearing will be held April 19, 2010 to discuss the changes in the rezoning application.