Eastland Mall Redevelopment
On January 4, 2013, Neighborhood & Business Services released a Request for Qualifications for the redevelopment of the former Eastland Mall site. Three invitations to submit full proposals were extended to:
- ARK Ventures, Inc.
- Film Studio Group / Winter Properties / Frank Martin
- Studio Charlotte Development LLC
The intent of the RFQ was to develop a short list of interested and qualified development teams to be invited to submit full proposals. Seven RFQ responses were received on February 15th and were evaluated by a team of City staff and commercial real estate professionals.
Full proposals from the three invited teams will be due to the City on May 30. The review team will evaluate the three proposals and make a recommendation to Council by July 12th with which team, if any, the City should enter into negotiations with for sale and redevelopment of the site.
The City envisions a final project that provides new economic opportunities for residents of the City and region. The City wishes the following objectives to be achieved through redevelopment:
- Implement a catalytic redevelopment that is seamlessly integrated with surrounding neighborhoods and commercial corridors
- Develop a financially viable, phased project using private-sector funding sources
- Expand the State and local property, sales and income tax base
- Provide new employment opportunities
- Provide open space and community amenities
- Provide support for new and emerging market-driven economic clusters in the region
Proposals will be evaluated on compatibility of the development concept with the City’s vision and goals for the Eastland area, the feasibility of the financing strategy for the development, and capacity of the teams to execute the proposed development in a timely manner.
If no proposal yields a viable option for City Council, staff will propose an interim strategy until the real estate markets improve.
Click here to review the Request for Proposal Document.
On August 31, 2012 the City of Charlotte purchased 80.452 acres at the former Eastland Mall site for $13.154M. It is not the City’s intention to keep the land, rather sell it to the private sector for a project/s consistent with the City’s policy objectives.
Goals for the property remain consistent with the 2003 Eastland Area Plan.
- Support broad policy goals of neighborhood improvement and business corridor revitalization efforts which focus on developing public and private collaborative strategies and investments to eliminate blight and create strong local economies.
- Removes 1.2 million feet of vacant retail space, strengthening adjacent Albermarle and Central Avenue commercial districts.
- Support the City Council’s Economic Development Focus Area Plan initiative to focus on job growth and increasing the tax base in the priority corridors including Eastland.
Eastland Mall References:
Request for Expression of Interest for Film Studio and Production Facilities at the Former Eastland Mall
July 23, 2012 Eastland Mall Acquisition presentation
Film Industry Presentation
Aerial Image - City Ownership Area
Reports & Studies
The 2010 Business Corridor Benchmarking Analysis, a component of the 2012 Neighborhood Quality of Life Study, provides a foundation to assess the physical conditions and assets of the priority and other business corridors, sometimes encompassing the entire corridor, and other times encompassing only segments of the corridor where conditions varied within the corridor itself.
- Central Avenue Corridor
- Albemarle Road Corridor
- Independence/Albemarle Road Corridor
Other Reports & Studies
- Eastland Area Plan - 2003
- Eastland ULI Study Report
- Eastland Retail Market Study 2007
- Independence Boulevard Area Plan