Well, the final decision is up to the 5 members of the Cornelius Town Board. The now more than 2 year old 1.4 million square foot real estate development project planned to sit on Highway 21 just south of Westmoreland Road leading all the way up to Grace Covenant Church is still up in the air according to recent reports. The current proposal includes the development of a town center with a large high end retail presence of over 840,000 square feet, 500,000 square feet of class A office space, two Hotels and 400 luxury condominiums. If the project is approved it will be 3 times the size of the ever popular Birkdale Village in Huntersville. A large hurdle that has the project in limbo is the exit ramp that will need to be built in order for the project to go forward. The developers have proposed to pay over $40 million in road improvements for the area, most of it to be spent on the new exit 27. In fact Walter Rector one of the developers said if the exit ramp is not approved the project will not move forward. The exit ramp seems to be the deciding factor at this point. We'll just have to wait and see.
UPDATE: The latest information according to sources has the project breaking ground in early 2010 and opening in 2011.
The Lake Norman area is bustling with real estate development and the Lake Norman Village along with the recently approved near by Langtree at the Lake are just two projects that will add to the already growing popularity of the area. If you are looking to relocate to the Lake Norman area feel free to contact me for information and real estate listings. Your Lake Norman Real Estate Connection
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