CHARLOTTE, N.C. — The historic Carolina Theater in uptown has a new owner.
The City Council decided to sell the property to the nonprofit Foundation for the Carolinas for $1.
The developers of the NC Music Factory offered to pay $500,000 for the theater, but the council went with the nonprofit.
"We intend to create a civic campus on North Tryon Street and the signature element of that campus is -- this will be the rebirth of the Carolina Theatre.
The organization wants to renovate the theater and build an office in the building next door.