by: Kathryn Burcham Updated:
CHARLOTTE, N.C. - Charlotte city leaders are eyeing two separate plans for an abandoned historic theater in uptown.
The city's economic development committee met Thursday to discuss two possibilities for the Carolina Theatre and the vacant lot next door, on the corner of Sixth and Tryon.
A nonprofit group, the Foundation for the Carolinas, asked city leaders to award it the land, for use as a possible office space, art installations, and with plans to eventually renovate the theater.
A local development company, CMP Carolina Theatre, also presented officials with a plan to fully renovate the theater and build a luxury 20-unit condo building alongside it, called the Encore.
The developers said the proceeds from the condo sales would be used to finance the theater's restoration.
"We've put millions of dollars into this project already. We want to create something that is fairly fantastic," said developer Jim Donnelly.
While city officials weigh their decision, the city is moving ahead to transform the lot into a temporary small park, in advance of the Democratic National Convention.
Officials said they could make a decision by October.