CHARLOTTE, N.C. - Taxpayers in the city of Charlotte and in Mecklenburg County will be expected to foot some of the bill, if a planned studio project is built in east Charlotte.
The ambitious plan would add sound stages, apartments and a film school on the former site of Eastland Mall.
Thursday, the Economic Development Committee unveiled a tentative plan for the total estimated cost of $296 million.
The developer hopes to buy Eastland’s more than 80 acres of property for a dollar, and receive $28 million in city and county tax reimbursements.
“There’s a cost of doing something, and then there’s a cost of doing nothing, and we feel like the cost of doing something is minimal,” developer Bert Hesse said.
City of Charlotte staff will present more details in January and hope to have a final proposal for the city council to consider in April.
Eastland Mall’s demolition will conclude in spring.