Banking

Bank of America gives away half a block of property to boost N. Tryon transformation

Bank of America on Monday became the latest large U.S. bank to report financial results for the second quarter of 2018.
Bank of America on Monday became the latest large U.S. bank to report financial results for the second quarter of 2018. Dreamstime/TNS

Bank of America is donating about half a block of uptown Charlotte property to Discovery Place, a $7 million gift designed to help revitalize the North Tryon Street corridor.

The Charlotte-based bank said Friday it is giving the museum a center that trains educators on ways to teach science, technology, engineering and math — or STEM — topics. The site, already part of Discovery Place's flagship campus, opened in 2014. Since then Bank of America has rented the property at Sixth and Poplar streets to the museum for $1 a year.

In a statement, Discovery Place CEO Catherine Wilson Horne said the donation will help the museum develop a master plan for the flagship site, where it plans a next-generation science center to help transform the North Tryon area.

"Bank of America's gift now makes it possible for us to envision a comprehensive campus for research, learning and improving our citizens' lives," she said.

The bank, one of the largest landholders on the north side of uptown, has taken a leadership role in helping redevelop the area as part of the North Tryon Vision Plan.

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Chief operations and technology officer Cathy Bessant is the chair of the North Tryon Advisory Group overseeing the implementation of a new plan for the corridor, which envisions a boom on the scale of the one that's transformed Stonewall Street and South Tryon Street in recent years.

Charles Bowman, the bank's North Carolina and Charlotte market president, said in a statement that the donation represents its ongoing commitment to Discovery Place's mission and the North Tryon efforts.

"Discovery Place plays an important role in driving economic mobility in our region by providing educational opportunities for people of all ages," he said.

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