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The land around Charlotte’s Bank of America Stadium is getting gobbled up

Bank of America Stadium

There was a big land sale near Bank of America Stadium this week. Property records show a Delaware company named AP Foundry bought nearly 5 acres at the intersection of South Cedar and West Hill streets for $36 million. The sale comes just a few weeks after Carolina Panthers and Charlotte FC owner David Tepper also bought up about 5 acres in the area and Charlotte City Council approved a rezoning for 55 acres nearby along Morehead Street.

“There’s been a lot of focus lately on, ‘What’s the future of Bank of America Stadium?’,” The Charlotte Ledger’s Tony Mecia told WFAE’s Marshall Terry on this week’s BizWorthy. “Panthers owner David Tepper said he wants a new stadium. A lot of this area is sort of envisioned, possibly, as a site for a new stadium and maybe some associated uses. There’s been talk of an entertainment district. Of course, everything near uptown has just been kind of on fire lately.”

The area of the new purchase is known as The Foundry and is home to some older, rehabilitated industrial buildings. The company, though, may be familiar.

“It seems that the company that bought the land is affiliated with Charlotte-based Asana Partners, which has done some mixed-use developments in Plaza Midwood, South End and elsewhere,” Mecia said. “We don't have all the pieces of the puzzle about what’s going on over there, but there are more dominoes falling if I can mix the metaphors of dominoes and pieces. But there’s a lot happening over in that area.”

You can listen to the full BizWorthy conversation above. Here’s a quick look at what else Mecia and Terry covered.

Copyright 2022 WFAE

Marshall came to WFAE after graduating from Appalachian State University, where he worked at the campus radio station and earned a degree in communication. Outside of radio, he loves listening to music and going to see bands - preferably in small, dingy clubs.