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Charlotte Business Journal
What's next for NoDa YMCA?
In the 10 months since a California developer walked away from plans to buy the Johnston YMCA in NoDa for redevelopment, The YMCA of Greater Charlotte has regrouped and taken a hard look at its overall real estate strategy.<\p> "Alongside our dedicated volunteer board of directors, we have been exploring various options for the future of this campus," said Heather Briganti, YMCA vice president of communications. "As we begin to narrow down these options, we will re-engage key community stakeholders to discuss our plans in greater detail."<\p>
CLT soaring to record heights
Passengers continue to travel through Charlotte Douglas International Airport at a record-breaking pace this year.<\p> More than 29.5 million travelers have been recorded at CLT between January and June of 2024, according to the airport's latest summary of airline and cargo activity. That's up 15.6% from the 25.5 million people that boarded or departed a plane during the same six-month period in 2023.<\p>
SouthPark restaurant plans revamp
It’s time for a $750,000 refresh at The Cowfish Sushi Burger Bar's flagship location in SouthPark.<\p> The 6,000-square-foot restaurant expects to close its doors for a few weeks in September to make way for the renovations. The goal is to reopen by October, co-owner Alan Springate says.<\p>
Meck hotels score record night
The Conmebol Copa América semifinal match played this month at Bank of America Stadium set a new record for hotel room sales in Mecklenburg County, according to new data from industry tracking firm STR.<\p> Colombia defeated Uruguay in the match, played July 10. That day, Mecklenburg County room sales totaled 28,873, eclipsing the previous record of 28,622. The earlier record was set Sept. 4, 2021, the night of the Georgia-Clemson college football game, part of the annual Duke’s Mayo Classic kickoff series. <\p>
Big-box retailer closing NC, SC stores
Big-box retailer Big Lots Inc. (NSYE: BIG) plans to close dozens of stores this year, including several in the Carolinas. <\p> Columbus, Ohio-based Big Lots disclosed in its quarterly report released in June that it expected to shutter 35 to 40 stores in 2024, while opening just three. The company did not include a list of store closures at that time, but it has since updated its website to indicate the locations that will close.<\p>
Group for women entrepreneurs coming here
Sherry Deutschmann sold her patient billing and printing company LetterLogic in 2016 and already knew her next step.<\p> She built the Nashville, Tennessee-based company that started in her basement into a multimillion-dollar powerhouse. Deutschmann said she set a new standard for employee benefits and compensation. That business grew big enough to be on the Inc. 5000 list for 10 consecutive years. <\p>
Charlotte turns corner on economic mobility
Charlotte is making strides in improving economic mobility and reducing systemic income and opportunity gaps between Black and white residents, according to a study released today. Harvard University-affiliated Opportunity Insights conducted the national study, led by a team of economists and based on Census and other government data.<\p> According to the new study — updating a mobility analysis by the same group of experts a decade ago — Charlotte ranks 38th among the 50 largest cities in economic mobility. <\p>
SouthPark property wraps $20M overhaul
Crestlight Capital has wrapped its $20 million renovation project at one of SouthPark's most prominent office properties.<\p> The Detroit-based commercial real estate firm delivered this week on 10 months of work to overhaul the Towers at SouthPark, formerly SouthPark Towers, located at 6000 and 6100 Fairview Road. <\p>
Local stores closing due to bankruptcy
Conn's Inc. (NASDAQ: CONN) is closing several stores across the Charlotte market — for now — as it recently filed for Chapter 11 bankruptcy protection.<\p> Conn's, which has been struggling with rising costs and declining sales, voluntarily filed for Chapter 11 bankruptcy on July 23 and has released a list of 106 stores it's initially closing across the U.S., although it laid out the possibility of a "full-chain liquidation."<\p>
Credit union teams up with UNC Charlotte
Gerard Covarrubias, a UNC Charlotte student, is more prepared for unexpected expenses after joining a new finance program available at the university. <\p> "They helped me set a budget, to record my spending and how much I’m making," Covarrubias said. "They advised me on how to spend if I don’t make as much in a month, or if I make a little more." <\p>
CBJ reveals Health Care Heroes finalists
A career in health care is not for the faint of heart. The long hours and high-pressure situations can wear on even the most dedicated of professionals. Those who've managed to thrive in that environment and make an impact in the field of medicine have aptly been called heroes. <\p> CBJ's Health Care Heroes Awards program highlights local individuals and organizations that are putting innovation and compassion to work to improve the human condition. More than two dozen finalists have been selected by CBJ's editorial team across multiple categories recognizing physicians, nurses, support staff, managers and others. Honorees were chosen following a nomination process earlier this year.<\p>
Charlotte's biggest brewery eyes new taproom
Sycamore Brewing expects to add a new taproom to its portfolio sometime in 2025 — and there’s a strong possibility it might be in Charlotte.<\p> The brewery has multiple letters of intent signed with developers across the Queen City and beyond, says Richard Magrath, president. He expects to sign a lease within the next six months.<\p>
Airline to exit CLT
JetBlue Airways Corp. (NASDAQ: JBLU) will exit Charlotte Douglas International Airport this fall. <\p> The low-cost carrier will stop flying to Boston Logan International Airport from CLT after Oct. 26, a JetBlue spokesperson confirmed to CBJ. Boston is JetBlue's only nonstop route at Charlotte Douglas. <\p>
Quail Hollow site pulled from market
One of Charlotte's most prominent — and notorious — development sites is no longer listed for sale.<\p> Quail Hollow Village, a 19-acre site bounded by Sharon, Gleneagles and Park roads near SouthPark, is no longer listed for sale on First & Early Partners' website. The local commercial real estate firm began working with Cameron and Dee-Dee Harris and their company, The Harris Land Co., last summer to market the property. <\p>
New Charlotte team adds another backer
Carolina Ascent FC and grocer Food Lion unveiled a sponsorship and community outreach program today. It’s the new women’s professional soccer team’s second sponsorship secured this month, following an agreement signed with Nucor Corp. (NYSE: NUE) as primary sponsor.<\p> Executives from Ascent FC and Food Lion marked the start of the sponsorship this afternoon with an event at the Food Lion store on Park Road. Salisbury-based Food Lion has 1,109 stores across 10 states, including 152 in the Charlotte metro area.<\p>
Local startup’s robots just got smarter
Lucid Bots continues to make moves in the robotics space. This time, the Charlotte robotics startup is boosting its machines' artificial intelligence. <\p> Lucid Bots said today it has acquired Avianna, a developer of drone AI software. The Illinois-based company enables operators to talk to drones through voice command and chat. Lucid Bots' deal with Avianna will provide customers with that capability for its Sherpa cleaning drones and pressure-washing Lavo Bots. <\p>
Lawmaker came up big for Charlotte sports
Soon-to-depart state Rep. Jason Saine, a Lincoln County Republican, played a key role last year in several sports business-related pieces of legislation. Most notably, a years-long effort to legalize online sports betting spearheaded by Saine resulted in a state law signed by Gov. Roy Cooper at Spectrum Center in June 2023.<\p> Saine, senior chair of the appropriations committee, wields considerable influence in the Republican-majority House. Both chambers of the legislature have veto-proof GOP majorities. He came to the legislature in 2011 and disclosed plans this month to leave office Aug. 12.<\p>
Airport gets major flight boost
Avelo Airlines is significantly expanding its flight offerings at Concord-Padgett Regional Airport.<\p> Avelo will add six new routes at the Concord airport later this year. The expansion includes new flights to the Northeast and another to Florida. That builds on Avelo's arrival at the Concord airport this spring with an initial route to Tweed-New Haven Airport in southern Connecticut.<\p>
Lowes Foods closing two NC stores
Lowes Foods is closing two of its North Carolina stores.<\p> The popular grocery chain based in Winston-Salem says it will close a store at 8201 Rowlock Way in the Cornerstone Commons retail center in northwest Raleigh as it restructures its portfolio. It is also closing a Lowes Foods store in Wilmington at 805 Pine Grove Drive. <\p>
River District apartments moving forward?
A recent land transaction at The River District in west Charlotte indicates potential movement on a Crescent Communities multifamily project there.<\p> Earlier this month, an entity affiliated with Crescent named CC River District MF L.P. bought just over 8 acres at The River District. The site was acquired from another Crescent-aligned entity for nearly $5.4 million, Mecklenburg County real estate records show. The site is described on the deed as the "Final Plat of Novel at River District." Crescent has been planning an apartment project under its Novel multifamily brand at The River District, company leaders previously told the Charlotte Business Journal.<\p>
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