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Developer steps out of Black Mtn. project |
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Tuesday, 30 January 2007 |
BLACK MOUNTAIN — A plan to redevelop a 2.5-acre section of downtown Black Mountain along State Street has been taken off the table after the firm that had been planning the development announced last week that it was withdrawing from the project.
Citiline/Resortline, the Charlotte-based firm that had been working to develop a plan for the site, announced in an open letter to the town that it would not be moving forward with the proposal.
The
facility would have included a new police station and other town
facilities, as well as 18,000 square feet of retail space and two
floors of condominiums.
The company‘s decision follows a Jan. 8 meeting of the town‘s Board of
Aldermen, at which many residents and some aldermen expressed
opposition to the plan.
The town had initially approached Citiline/Resortline about the
project, hoping to have some say in how the downtown area developed.
Included in the proposal was a land-swap, in which the town would have
traded 1.4 acres of property it owns in exchange for the new
facilities, as well as taking out bonds through a Tax Increment
Financing program.
The board was expected to vote on the proposal at a special meeting it had scheduled for Jan. 22.
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