Portion of former Eastland Mall site sold to CMS

- The Charlotte City Council voted 8-2 Monday to approve the sale of 11.4 acres at the former site of the Eastland Mall to the Charlotte-Mecklenburg Schools (CMS) Board of Education.

CMS agreed to pay $65 million for the site, which will be used to build a new K-8 school.

The city purchased the approximately 80.4 acre property in Aug. 2012 to encourage economic development in the area. Eastland Mall was demolished in 2013.

In addition to the school, the plan for the area includes residential and commercial development along with a park and a storm water retention pond.

The sale will allow the city to move forward with its plans to develop the remaining 69 acres of the property, which will eventually include a Google Fiber Hut to help connect Google high-speed internet across the city.

Council also voted to approve an amendment to the city’s contract with the Carolina Panthers that would move up by one year the city’s final installment towards Bank of America stadium improvements, which is expected to save the city $5.3 million. The city agreed in 2013 to contribute $75 million towards the stadium in exchange for an agreement that allows the city to use the stadium rent free for various events.

The Panthers agreed to expand the city’s rent-free use of the stadium in exchange for the city changing payment for its final installment from Dec. 1, 2017 to Dec. 1, 2016. 

During the dinner briefing, council members received an update on community concerns regarding the noise level of freight train horns. The Federal Rail Administration requires trains blow their horn when passing through an intersection.

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