Northwood Ravin won the bidding for a 3.7-acre city-owned tract in Uptown, with the City Council greenlighting the deal. The company will pay more than $14M for the land at Caldwell and Stonewall streets. According to Northwood Ravin director Tony Korolos, plans call for up to eight stories that will feature 400 apartment units and 50k SF of office and retail. The site is one of five right-of-way parcels the city acquired from the NC DOT because of modifications to the I-277/South Caldwell Street interchange, the Charlotte Business Journal reports. It is across from the site of a planned Crescent Communities mixed-use development. [CBJ]
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