Two Charlotte developers settle long feud over prime piece of land in south Charlotte
After a decade-long stalemate over 11 acres of vacant, overgrown land, two Charlotte developers avoided a courtroom duel and settled Wednesday.
After tearing down apartments built in the 1970s, development stalled on the lot — which sits at Providence and Fairview roads in south Charlotte — when Daniel Levine and David Miller filed lawsuits against each other in 2019.
Levine — who owns a collection of properties across Charlotte — now owns 100% of the property across from Strawberry Hill shopping center, he told the Charlotte Business Journal and The Charlotte Ledger Thursday.
“Now with 100% ownership of the property, we look forward to unlocking the full potential of this property,” he told the Business Journal.
Raley Miller Properties and Levine, under the company Golden Triangle 3, made joint development plans for the land more than 10 years ago. They boasted six-story apartments with 100,000 square feet for retail and a new Harris Teeter.
Grassy cement took their place.
GT3 first filed suit against Raley Miller Properties and Mallard Creek Associates LLC. RMP filed a countersuit against Levine Properties in September 2019. Neither Levine nor Miller shared the terms of the settlement, which occurred after jury selection in North Carolina’s business court Monday and Tuesday.
According to court documents, plans crumbled under disagreement over where to get a $60 million term loan. Levine wanted Wells Fargo, but Miller wanted to use what was then BB&T.
In January, Miller told The Charlotte Observer that a complicated real estate matter meant that a party other than Raley Miller Properties would develop the lot.
The property, which is in the Foxcroft neighborhood, was once known as Carmel on Providence, a 109-unit apartment complex. Carmel on Providence was built in 1974 and is about 6 miles south of uptown Charlotte.
The property has an appraised value of $11.7 million, according to Mecklenburg County records.
This story was originally published March 28, 2024 at 6:01 PM.
