A New York based real estate firm has recently been buying up land in North Charlotte to build a new 75 acre development.
ATCO Properties & Management, a family-owned business which started in Queens NY in 1922, has been buying up large deeds of land between Statesville Rd and N. Graham St. over the past year:
Over the past year, ATCO has purchased 1701 N. Graham St., 1801 Statesville Ave., 901 Woodward St. and 9210 Woodward St., 1776 Statesville Ave. for a total of $16.9 million, according to Mecklenburg County tax records.
The properties currently sit in Charlotte’s ‘applied innovation corridor’, according to its 2020 Vision Plan, identifying that part of town to be focused on tech firms and new startup companies.
ATCO noted in a press release that their new North Charlotte development will be an adaptive-reuse project (reusing an old site or building for a purpose other than which it was built or designed for).
ATCO could not be reached for further comments.