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Charlotte’s Carolina Theatre Sold to Developer
posted by
ncmark
on
January 12, 2006 at 4:28 am
CHARLOTTE, NC — The Charlotte City Council voted January 9 to sell the long shuttered Carolina Theatre to the Atlanta developer Camden Management Partners. They propose a luxury high rise condominium project of up to 125 units built in front of and above the existing theater. The vacant corner lot in front of the auditorium should see the return of the recently dismantled theater façade incorporated into the new structure.
The theater will be privately owned and operated with renovation money coming from a combination of sources – about $4.5 million in property taxes generated from the new condos, a $1 million developer contribution and at least another $2 million to be raised privately by a local preservation group. Drawings of the new tower have not yet been released and programming of the theater space remains unclear.
