Charlotte-Mecklenburg police’s Central Division, which works uptown, will likely be looking for a new home after Bank of America told the city it will not renew its lease.
The 8,000-square-foot headquarters, on East Seventh Street between Tryon and College streets, is leased from the bank for $1 a year.
In a budget presentation, the city said the bank has said it intends to sell the site.
The bank confirmed Friday that it plans not to renew the lease but said it has no plans to sell the site. The bank owns four parcels of land on Seventh Street that total about 1 acre.
The bank declined to comment when asked whether it might develop the property on its own.
CMPD said the lease has been extended until September and that the department hopes to stay longer. The building houses 93 officers.
The department said it’s working with the city’s real estate office to find a new home uptown. In the proposed budget for fiscal year 2016, which begins in July, the city has budgeted an additional $500,000 to cover rent for a new division headquarters.
After languishing in the aftermath of the recession, uptown real estate has picked up. A 25-story office building that will house Babson Capital is under construction at 300 S. Tryon St., and Crescent Communities plans to break ground this year on a 27-story office and retail tower at Stonewall Street and South Tryon.