Charlotte leaders say ‘hell yes’ to $11.3M price increase for Eastland Mall redevelopment
Update: The Charlotte City Council voted to approve the additional $11.3 million for the Eastland Yards project Monday, Sept. 9.
Charlotte will put more public money into Eastland Yards.
The City Council voted unanimously Monday to support paying an additional $11.3 million for the redevelopment of the former Eastland Mall site, less than a week after the council’s economic development committee signed off on the bigger investment. The City Council voted last year to contribute $30 million to the project.
City leaders in October approved a plan for the 29 acres sitting empty on the site, and staff warned about potential price increases at the time.
Construction is underway on a portion of the former Eastland site, but the fate of the remaining land was thrown into question when Tepper Sports and Entertainment pulled out of plans to build a youth academy and soccer fields at the site in July 2022.
The latest plan — led by EDGE Sports Global, Charlotte Soccer Academy and Southern Entertainment — includes indoor and outdoor sports facilities, dining, a fieldhouse, a fitness center and a community learning center.
The city’s $41.3 million investment will come from its capital improvement plan and revenue from hospitality taxes. The total estimated costs, which include private investments, include $18.9 million in infrastructure costs, $15.5 million for the outdoor facility and $32.6 million for the indoor facility, according to Tuesday’s presentation.
Council member Marjorie Molina, whose District 5 includes the site, said at the Sept. 3 committee meeting she was a “resounding hell yes.”
“From my perspective, it’s a no-brainer … We can see the finish line,” she said.
The city is “highly confident” the latest numbers will hold, said assistant director for economic development Todd Delong at the committee meeting.
He estimated work will begin on the new facilities in early 2025 and take 24 to 36 months to complete.
Eastland Yards ice rink up in the air
One component of the plan approved in October that may not move forward: an ice rink.
The Ice Capades Chalet was a hallmark of Eastland Mall, but Delong said in committee it will no longer be a part of the initial development.
That will shrink the size of the indoor facility to 100,000 square feet, Delong said.
An indoor rink could be built in a later phase, and an outdoor rink could operate seasonally, he noted.
This story was originally published September 3, 2024 at 2:40 PM.
