Proposed revamp of uptown Charlotte office property hits snag

CHARLOTTE — The push for public investment in uptown redevelopment projects appears to be going nowhere. The latest setback came earlier this month when the Mecklenburg Board of County Commissioners’ economic development committee offered a chilly reception to a request for tax increment financing for the Brooklyn & Church project.

Backers of the proposed, $251 million makeover of the former Duke Energy Corp. headquarters at 526 S. Church St. would cap incentives at $18.9 million combined from county and city government. Washington-based MRP Realty and Charlotte-based Asana Partners bought the 778,000-square-foot building and property in December 2022.

Charlotte Center City Partners and city and county economic development administrators have spent months polishing the proposal for incentives. They view Brooklyn & Church as an ideal candidate for taxpayer help because the site occupies an important city block and offers a rare opportunity to convert an office building into a residential and retail center. The project also might increase the property taxes paid given the large private investment.

Read the full story on CBJ’s website here.

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