Sydney Heiberger
Mar 22, 2023
CHARLOTTE, N.C. (QUEEN CITY NEWS) — Charlotte City Councilmembers approved a plan to sell off four acres of land for just $1.00. The land is located near the West Sugar Creek and I-85 interchange and was the site of an Economy Inn motel with a longstanding history of crime.
The city purchased the property in April 2023 for $4.2 million. On Monday, city leaders approved the sale of the property to Prosperity Hidden Valley, LLC for $1.00. The development company plans to turn the space into roughly 39 new affordable townhomes.
The homes will be exclusively for families earning at or below 80 percent of the Area Median Income (AMI).
Learn more: https://www.qcnews.com/charlotte/new-affordable-housing-approved-for-charlotte/