Black-owned development near Camp North End to block ‘predatory’ retail, receive tax grant

A $30 million housing and retail development north of uptown got approval Tuesday for a $1 million tax grant from the Mecklenburg Board of County Commissioners.

The money will be provided to the developer as a 45% rebate on property taxes over 15 years. The grant will be limited to $1.02 million and help the project create 92 townhomes and retail space.

The city of Charlotte will commit about $577,000 in tax rebates.

County commissioners on Tuesday praised the CEO of the development company, Bobby Drakeford, for committing to block so-called “predatory” businesses such as pawn shops and low-end retail. They voted unanimously to approve the tax rebate.

Commissioner Mark Jerrell said he’s glad to support a Black-owned business with the tax incentive. Drakeford, who is Black, said he is from Charlotte and goes to church not far from the site of the development. Jerrell added the project has sought county support since at least 2020.

“He’s investing in this community and I think it’s important for us to invest in him,” Jerrell said of Drakeford. “We need to support what he represents and other folks like him.”

Project specifics

Drakeford told commissioners Tuesday the project — on the corner of Statesville and Oaklawn avenues by Camp North End — will respect the needs of the neighborhood by attracting businesses that will be beneficial for residents.

Drakeford said he hoped to attract businesses such as a restaurant, sandwich shop, insurance provider, pharmacy or beauty supply store. He added that 10% of the town homes will be reserved for people who work in the retail spaces and who make between 60% and 100% of the area median income. That stipulation will last 15 years.

The entire development encompasses about 7 acres. Of the 92 townhomes, 18 will be listed for rent and 74 will be for sale.

Total costs for infrastructure improvements the county will support are about $2.2 million, which includes $437,000 for an extension of Polk Street and about $280,000 to design and construct sidewalks and open spaces.

Over the course of the 15-year tax incentive agreement, the county will still retain about $1.25 million.

Drakeford said the construction could start within 45 days and the project could be completed by the end of 2023.

This story was originally published April 6, 2022 at 6:00 AM.

Will Wright

The Charlotte Observer

Will Wright covers politics in Charlotte and North Carolina. He previously covered eastern Kentucky for the Lexington Herald-Leader, and worked as a reporting fellow at The New York Times.