Business

Carolinas Roundup

Average Charlotte airfare up 9%

The average airfare at the Charlotte airport increased more than 9 percent in the second quarter of this year, according to federal statistics released Wednesday.

At $407, the average ticket price for domestic flights is the highest in at least three years, but still 16 percent lower than in the second quarter of 2000, when Charlotte/Douglas International was one of the nation's most expensive airports.

Both the average fare and the increase from a year earlier were more than the averages for the nation's top 100 airports by originating passenger traffic, which were $351.86 and 8.1 percent, respectively. Average fares are based on domestic round-trip and one-way flights. Jefferson George

State OKs expansions at Presbyterian hospitals

Presbyterian Healthcare received state approval this week to expand its hospitals in Huntersville and Matthews.

The state approved Presbyterian Hospital Huntersville's request to build a $26.6 million tower to house some of the 50 current acute-care beds plus an additional 15 beds. Presbyterian Hospital Matthews, which has 102 licensed beds, will add 12 beds in existing space, at a cost of $570,000. Karen Garloch

Deal on stalled condos still being negotiated

Lawyers are still negotiating terms of a deal to buy The Park condos in uptown Charlotte. Attorneys Wednesday appear to have agreed to sell the stalled tower to Summitt Shores for $19 million, with a later court battle to determine how proceeds will be split among those who are owed money.

The attorneys will draft a final order and meet in U.S. Bankruptcy Court Friday to either have the deal finalized or send the condo tower back into foreclosure. Summitt Shores, which registered as the high bid after a foreclosure auction in August, hasn't announced what it will do with the property.

The Park, a 21-story, 106-unit luxury tower at Caldwell and Third streets, went into foreclosure this summer. Court documents say its developer, 222 South Caldwell Street Ltd. Partnership, part of Verna & Associates of Charlotte, owed more than $28 million on its $30.7 million loan.

Later, three creditors forced the project into bankruptcy court. Those with a stake in the condo tower have been pushing for a sale, mainly because the building is falling into disrepair. If the deal is approved Friday, Summitt Shores will have 45 days to close. Kirsten Valle

  Comments