CHARLOTTE, N.C. — After purchasing a dated shopping center in University City this fall, a Dallas real estate investor has filed a rezoning petition to bring new uses and density to the site.
EBA Crystal Real Estate LLC, affiliated with EB Arrow, has proposed a project with up to 300,000 square feet of commercial space, 20,000 square feet of civic uses, 600 residential units and, potentially, a hotel to a 20.6-acre site on J.W. Clay Boulevard in University City.
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EB Arrow acquired the property, which totals 30 acres, earlier this year for more than $18 million. The rezoning petition only includes the portion of EB Arrow’s site that fronts University City’s 15-acre lake.
A spokeswoman said the company intends to work collectively with the city of Charlotte and surrounding stakeholders to ensure any improvements made to University Place — the name of the shopping center — meet their goals and maximize connectivity.
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