When I first started writing this blog in 2007 the Charlotte Observer used to have a regular column in the Lake Norman section called “Red Dirt Alert” which provided updates on the myriad and different types of developments in planning and under construction in the greater Lake Norman area. Today, not only is the “Red Dirt Alert” column gone, but the entire Lake Norman Section has been eliminated. And, of course, most high profile growth and development has been significantly impacted by the recession.
The big news this week that the 755,000 square foot, vacant Burlington Mills plant in Mooresville on South Main, (at one time was to be the site of the Mooresville Mills Urban Village whose plans collapsed) , was purchased by Concord Global Trading of New York, served as a reminder that despite some major set backs, there many new and continuing/progressing developments in our Lake Norman area.
Here is Part 1 of an overview of our Lake Norman area’s recent growth, some of which will serve as updates of my prior articles: Lake Norman Real Estate’s Growth and Development Update, Lake Norman Real Estate’s News Update March 2009 , Lake Norman Growth and Developement Update October 2007.
- Mooresville’s Burlington Mills’s new owner, Concord Global Trading, purchased the 38-acre site in December and has already started work on their Furniture Emporium called “Wow Home Furnishings”. The store is expected to “Sell Furniture and Home Decor with an International Flair…” according to an article on the Mooresville Mill Village website. Their target date for opening is May of this year. What a boon this will be for Mooresville, especially the Historic Downtown Mooresville area! UPDATE: This is now Merino Furniture!
- The long vacant “Pink Palace Theater ” in Cornelius off of Catawba Blvd. has been purchased by a California Entrepeneur, Levy Affiliated Holdings. Already under renovation, this site will include the new “Lake Norman Cultural Arts Center” which will feature a 400-seat entertainment venue, music school, and possibly a dance studio and New York Theatrical production company. “The use envisioned for the rear of the building is focused around cultural arts, with offices for such uses as film production and a recording studio, and the front use will focus on retailers and a restaurant and bar…”according to Business Today. Pretty exciting!
- Brawley School Road Widening Update: The State of North Carolina has awarded a $22.6 million contract to complete the widening of Brawley School Road AND build an Exit 35 interchange. As many of us know, the first section of the widening project is about 25% complete and is expected to be completed in July of 2011. The final section and interchange is scheduled to be finished in July of 2013. They have already started clearing the area where the new Exit 35 will be built! Note, we are all a bit frustrated that construction of phase one came to a screeching halt during the holidays. There was some activity this week so hopefully they will resume full-time next week.
- There has been some very positive growth at the new, upscale Mooresville Town Square located at the corner of Brawley School and Williamson Rd including the opening of Wine Maestro, the NY Bagel Co and the nearly completed Lowe’s Foods which is opening this week (January 20th).
- Across the street on Brawley School Rd the new Rite Aid in the Harris Teeter Shopping Center is coming along. Also new to that shopping center is a Mexican Restaurant Cuzomel that just opened. I haven’t been there yet but will report back!
- At the new Mayhew Promenade Shopping Center at Stutts Road the lovely Bloom Market, Walgreens, McDonalds, and Shoals Saloon and Grille restaurant are now open!
- The newest Mooresville Harris Teeter Shopping Center at the corner of Highway 150 and Perth Road has some great new shops and restaurants including 3 Goats Coffee, The Wine Loft and another new Rite Aid.
- The Project for innovation, Energy and Sustainability (PiES)is a new business incubator that has been launched in Davidson with a goal to nurture new enterprises and jobs. Founder Kathleen Rose said “PiES encourages education, incubation, and “economic gardening
- The widening of Catawba Blvd. in Cornelius is complete as is our new Exit 31 in Mooresville at Langtree Road!
Part 2 will include updates on our largest and long-term developments:
- Langtree at the Lake
- Legacy Village
- Augustee/Village at Lake Norman
- Exit 42
- North Carolina Research Center