Development

Lincoln Harris, Goldman Sachs spend millions on more uptown land near Observer site

mhames@charlotteobserver.com

A joint venture by Lincoln Harris and Goldman Sachs has closed on its purchase of the final piece of a two-block uptown site for $3.35 million, real estate records show.

The companies bought the 0.65-acre site occupied by Reeves Sheet Metal across from Bank of America Stadium in a deal that closed Tuesday. Lincoln Harris and Goldman Sachs have already spent $34.1 million to buy the former Charlotte Observer site uptown.

Adding the Reeves site to the Observer property brings the companies’ holdings to just under 10 acres spread across two blocks south of Stonewall Street, between the stadium and South Tryon Street – one of the largest pieces of land slated for redevelopment in uptown.

The deal means the joint venture has spent $37.45 million on the uptown land, and building permits show demolishing the Observer’s former building cost an additional $4.1 million.

Lincoln Harris, a longtime Charlotte developer, has been quiet about its plans for the site, which city records show will be a large, mixed-use development. Preliminary building permits show an office building totaling 1 million square feet would be built on the part of the site near Stonewall and Tryon streets.

Ely Portillo: 704-358-5041, @ESPortillo

  Comments