March 13, 2015 | By Will Boye, Charlotte Business Journal
Marsh Properties has purchased a 2.65-acre property at the intersection of Providence and Sardis roads for a project that is expected to tie in with a larger redevelopment of the Strawberry Hill shopping center.
Marsh recently bought the land, located at the northeast corner of the intersection of Providence, Sardis and Fairview roads, for $3.1 million. The property, home to a BB&T bank branch, was rezoned late last year for a mixed-use project with up to 35,000 square feet of commercial space in as many as five buildings.
The site would be integrated with the proposed redevelopment of the Strawberry Hill shopping center, which was postponed by the recession.
The retail center, also owned by Marsh, totals about 39,000 square feet and is anchored by The Fresh Market.
Marsh gained rezoning approval for the property in 2007 for a redevelopment and expansion of the center up to 76,500 square feet. The plans included moving The Fresh Market to a new building closer to Providence Road to increase the anchor tenant’s visibility.
To make way for the project, Marsh planned to demolish a couple of retail buildings at Strawberry Hill as well as several buildings at the Strawberry Hill apartment community next door, also owned by Marsh.
That rezoning was approved in September 2007. A year later, the financial crisis was in full bloom, and Marsh put the redevelopment on the shelf, but now the company is actively working on the project again.
Jamie McLawhorn, president of Marsh Properties, says the redevelopment could kick off early next year, and the recently acquired corner parcel would feature additional retail space. A road running through Strawberry Hill with retail and parking on either side will open up the retail center and make it more pedestrian-friendly, he says.
“It would make a big difference for that area, the residents of Strawberry Hill and The Fresh Market,” he says.
Marsh isn’t the only developer making plans at the intersection of Providence and Fairview.
Across Providence Road from the Strawberry Hill shopping center, Levine Properties and Raley Miller Properties are planning a mixed-use project with up to 100,000 square feet of commercial space and up to 225 residential units at the site of the Carmel on Providence apartment complex.
Read the original article in the Charlotte Business Journal.