The slow-to-recover economy and struggling real estate market have J&B Development and Management Inc. reconfiguring plans for a portion of the Park South Station community.
Located off Archdale Drive and near SouthPark mall, Park South Station is a gated community with condos and townhomes built by Ryan Homes.
Much of the 120-acre property is already developed, but there are pockets of undeveloped areas.
After watching the economy continue to struggle, J&B now wants to take a 25.4-acre parcel, originally zoned for condos and townhomes, and develop single-family homes.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
"The main thing with the economy is that appraisals have been coming in lower and lower around the city," said Robert W. Burkett, president of J&B. "We're trying to put in a high price point that will sell and that will bring everybody's appraisals back up."
The price for the single-family homes should be $300,000 on average, said Burkett.
"They're just trying to remarket what they've got," said Shad Spencer with the Charlotte Planning Department.
The property used to be the site of the old Celanese Acetate building, and J&B acquired the land in 2005.
They've been developing the site and selling to Ryan Homes for three years, and there are about 260 units already sold and occupied, said Burkett.
To build the single-family homes, Burkett had to submit a rezoning petition to the city Planning Department, which must be approved by the Charlotte City Council.
The petition goes before the City Council for a public hearing June 20, and the zoning board will make a recommendation on June 29.
The petition goes back to the council for a final decision July 18.
J&B had a public meeting a couple weeks ago to get input from Park South residents on the proposed single-family homes.
Burkett said residents asked for wider sidewalks, a planting strip between the sidewalk and the road, as well as a bigger set-back for the houses.
Burkett said they plan to make changes to the original site plan to accommodate some requests.
If the City Council approves the rezoning petition, construction on the single-family homes will start in late summer.