Business
LMG will develop ‘demonstration project’ downtown
Aug. 10. As expected, the Kannapolis City Council has picked Lansing Melbourne Group to develop a mixed-use project downtown. LMG will invest $60 million. City staff will negotiate with the company on a Master Development Agreement, which will establish more details regarding the design, finance, construction, ownership and operations of the project. The city, which […]
Upward trend continues for high-end properties
House values in the Charlotte area posted a healthy 5 percent gain during May, according to the latest S&P CoreLogic Case-Shiller Indices, a national survey of residential sales in 20 major cities. Values in Charlotte rose at about the same rate as the national average, according to the report. S&P says nationwide house values are rising […]
Board of advisors will lend expertise to Aquesta
Aug. 8. Cornelius-based Aquesta Bank has a new advisory board whose goal is to provide expertise in several areas, including strategic planning, technology and cyber security, human resources, and community opportunities and trends. Carol Houle, a partner with EMC Federation, will chair the committee and help direct its activities. “While we’ve had an Advisory Board […]
Bonus allocation funds are not as promised, town leaders say
By Dave Vieser. Even while the I-77 toll lane project continues to face significant opposition, the NCDOT has been quick to say more than $150 million in bonus allocation funds has been earmarked for the North Mecklenburg/Iredell County region. That seems to be quite a stretch, with some Huntersville officials questioning their effectiveness in reducing congestion. […]
Decline of ‘Big Soda’ behind $355 million S&D acquisition
Aug. 4. UPDATED. By Dave Yochum. Cott Corp. is paying $355 million on a debt and cash free basis to acquire Concord-based S&D Coffee Inc., a mainstay of Cabarrus County business since 1927. The price tag is about six times “post synergy” Earnings Before Interest, Taxes, Depreciation and Amortization, otherwise known as EBITDA in corporate […]
S&D Coffee will be sold to Cott
Aug. 4. Cott Corp., one of the world’s one of the world’s largest producers of beverages on behalf of retailers, brand owners and distributors, has announced plans to buy Concord-based S&D Coffee Inc. for an undisclosed amount. UPDATE: Cott Corp. will pay $355 million on a debt and cash free basis S&D has been a mainstay of […]
Kannapolis ready to ink redevelopment deal with Florida firm
Aug. 3. The City of Kannapolis staff will recommend that the City Council go with Lansing Melbourne Group for the development of a two-block district in the historic downtown redevelopment district known as the Demonstration Project. Fort Lauderdale-based Lansing Melbourne plans to invest $60.6 million in the four-acre project, double the other bidder. The firm takes […]
Businesses line up behind Big Brothers Big Sisters
Big Day at the Lake has brought in more than $103,000 for Big Brothers Big Sisters of Greater Charlotte. Thanks to corporate sponsors and individual donors, this is the most ever raised for BBBS since Big Day at the Lake began 12 years ago. The Presenting Sponsors this year were Champion Tire, based in Cornelius, […]
Widening of W. Catawba means change for merchants
By Dave Vieser. Even though construction is more than three years away, a meeting in June about widening West Catawba Avenue in Cornelius from Jetton Road to Hwy. 73 attracted well over 100 people, including many business owners. The purpose of the meeting was to inform everyone about the proposed improvements and to obtain their comments. […]
