• People along streetcar extensions could profit

    By: Jason Stoogenke

    Updated:

    CHARLOTTE, N.C. - Now that Charlotte city leaders approved the streetcar Gold Line extension plan, people who own land along the line could make a lot of money from the project.

    The line would run from French Street on the west side, through Uptown, to Sunnyside Avenue on the east side. That 4-mile stretch has about 200 parcels and 100 property owners, like Lee McLaren.

    "We're lucky. Dumb luck to be here in this particular spot, and I think it's going to work out good for us," he said.

    IMAGES: People along streetcar extensions could profit

    To see who else owns land along the line, WSOC went parcel by parcel, looking up property records for each. Many, about 60, are companies, including ones in Apex, Rock Hill, Shelby, New York, New Jersey, Chicago, Texas and Los Angeles.

    Most are based in Charlotte and some have different names but use the same business address. Only about 15 individuals or families own sites, not including the 12 condo complexes.

    The city, county, state and federal governments own 28 parcels. Johnson C. Smith University owns about 10 parcels. Central Piedmont Community College owns about eight and Johnson and Wales owns about three.

    Brooke Adams rents along the line but would love to own there instead, especially now.

    "Oh absolutely. I'd buy this apartment if it were for sale," Adams said.

    She and others hope all of these owners do take advantage of the line and develop their sites so the neighborhoods cash in as well.

    "I think it would be a tremendous help," said Nathan Summers.

    Next Up: