2 acres in Mountain Island swaps ownership twice, ending with Novant Health
A vacant 2.3 acre plot across from the Riverbend Village Shops in the Mountain Island neighborhood seems to be a hot commodity.
The property sold twice in a three-day span, and landed in the hands of Novant Health.
Spending $3.5 million, Novant purchased the site at 4620 Smith Farm Road from Charlotte developer Pappas Properties on June 20, according to Mecklenburg County property records.
This was after Pappas purchased the plot for the same price on June 16 from a limited liability company, according to county records and as first reported by the Charlotte Business Journal. Pappas told CBJ it planned to build retail at the site.
It’s unclear why Pappas sold the property right after purchasing it. The developer did not immediately respond to a request for comment from The Charlotte Observer.
But the property is connected to land already owned by Novant.
Novant’s expansion in Charlotte
In 2019, Novant purchased 44 acres along Sugar Magnolia Drive and Smith Farm Road for almost $8.8 million, according to county records.
That same year, a rezoning request from Novant was approved, allowing the Winston-Salem based health care company to use up to 210,000 square feet of gross floor area for a hospital with medical office uses and a helicopter landing pad.
Novant previously told CBJ it planned to build a $32.5 million freestanding emergency department. The lot is still vacant. Novant declined to comment to the Observer whether the emergency department is still in the works.
Novant did say it will continue to seek new opportunities to meet future health care needs.
“We already own the land surrounding 4620 Smith Farm Road, so when Pappas Properties offered to sell the nearly two-acre parcel, it made sense to add it to our current acreage,” Novant said. “Our teams are assessing the site, creating possible plans for the property, and we’ll share more details as they are finalized.”
Near the property, Novant does operate an urgent care facility, which opened in 2020.
And Novant is continuing to grow in the Charlotte region.
In May, the healthcare provider doubled the size of its emergency department in Mint Hill. And in April, Novant announced it would invest $2.5 million in opening a behavioral health urgent care space for adolescents at the Katie Blessing Center in East Charlotte.
