NORTH CAROLINA — September marked the end of the road for a couple of high-profile projects in the Charlotte metro.
In Huntersville, the hotly contested Lagoona Bay project off Sam Furr Road was officially shelved last month after Jake Palillo of Bi-Part Development pulled the plug due to economic concerns. Formally announced earlier this year, the project faced major opposition from neighbors. Palillo had revised his plans for the site multiple times. He most recently renamed the project Waterside and downsized it to include just 415 residential units, the Lagoona Bay Beach Club and man-made Crystal Lagoon, and a potential boutique inn.
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Closer to center city, a sale of the The Johnston YMCA site in NoDa fell through as a result of current market conditions. That site at 3025 N. Davidson St. had been under contract by California developer Republic Metropolitan, which had eyed putting 455 apartments there.
And farther north, plans for a large Mooresville development near Lake Norman with up to 660 residential units hit a snag in September after receiving a thumbs down from the town’s planning board. A timeline for the developer’s next steps were unclear last month.
Meanwhile, multifamily developments have continued to pop up around the region. For a closer look at these and other projects, check out CBJ’s latest real estate roundup here.
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