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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 10, 2012 
 
 
MECK REGION WINS GREEN PAYDAY

 
You love one-stop-shopping (the Target parking lot is proof), so you'll adore this new grant from HUD. The $4.9M prize will help the Mecklenburg County region with sustainability planning in transportation, the environment, economic development, and housing, Meck County commissioner Jennifer Roberts tells us.
 
Mecklenburg County Commissioner Jennifer Roberts
The grant will go to the Centralina Council of Governments. It will pay to implement the “CONNECT Regional Vision Plan.” The plan attempts to encourage local, state, and federal agencies to work together with businesses and residents to identify challenges as the region grows, Jennifer says. (No solar rollercoasters on the list yet.) The greater Mecklenburg region was one of 28 in the country to get a grant, with only a few getting the maximum $5M.
 
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BALDOR BUCKS ECONOMIC TRENDS
 
Baldor Electric Co., a maker of industrial electric motors, will soon begin expanding operations at its Cleveland County plant, adding 166 jobs
Leveraged by a hefty state grant, Baldor Electric Co., a maker of industrial electric motors (like the one above that looks like it could go on a spaceship), will soon begin expanding operations at its Cleveland County plant, adding 166 jobs. The move will help Baldor meet growing demand for wind-powered technology, company VP Bill Ramsbey tells us. Baldor expects to invest $17M in the expansion, which includes the purchase of an existing 270k SF building adjoining the plant. The project was aided by a $400k grant from the State’s One North Carolina Fund.

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AN OIL CO. GROWS IN GASTONIA
 
Kennington Hagan Oil Co. recently bought a 22-acre tract next to its existing Gastonia HQ for $150k for future expansion.
Kennington Hagan Oil Co. recently bought a 22-acre tract next to its existing Gastonia HQ for $150k. (We snapped a pic while recreationally parachuting in the area.) It plans to use the site for future expansion, Piedmont Properties/CORFAC International’s Marty Laughlin tells us. The property is at 1905 and 1990 Keystone Court. BB&T sold the land. Marty repped Kennington Hagan. The company, with another site in Mount Airy (aka, Mayberry), is a distributor of various types of lubricants, including those used in industry, passenger vehicles, and heavy equipment.

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CONVENTION PAYING DIVIDENDS
 
The DNCC recently deposited $2M each in non-interest bearing accounts with Mechanics & Farmers Bank, a Durham-based African-American owned bank, and the Latino Community Credit Union.
The Democratic National Convention Committee announced last week it had invested convention funds in two NC minority-controlled lenders. The committee deposited $2M each in non-interest bearing accounts with Mechanics & Farmers Bank, a Durham-based African American-owned bank, and the Latino Community Credit Union. The funds will help those institutions expand lending and promote economic development to communities across the state, says DNCC CEO Steve Kerrigan.

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ILLEGAL FOOD VENDING CRACKDOWN
 
The Mecklenburg County Health Dept. and local police are cracking down on unlicensed food vending.
Illegal outdoor food vendors beware: the Mecklenburg County Health Dept. and the police are on to you. In response to neighborhood complaints, health officials hit Beatties Ford Road one recent Saturday and found several vendors selling from stands without proper food prep, sanitary precautions, or refrigeration, Health Dept. deputy director Bobby Cobb tells us. The problem persists in other neighborhoods, as well. The stands were immediately shuttered and operators were told how to get the appropriate permitting. The Health Dept. has been training police how to spot a violation and under what ordinance officers may write a ticket.
 
We actually like a good street dog with a little chili and cheese, no matter where it comes from. Send your news and info to lee.howard@bisnow.com. A touch of mustard is always nice.
 
 
 
 
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