New Condo Retail Project Under Way in Charlotte

The first of two retail and luxury condominium buildings at Elizabeth Place on Catawba Avenue should be finished by late December or early January, said John Wilkinson of SouthPointe Realty Inc.

Elizabeth Place will have two 10,000-square-foot buildings, each with 5,000 square feet of commercial/office space on the first floor and three luxury condos on the second level.

Wilkinson said he has received 48 inquiries from prospective buyers, with no marketing other than a sign on the property.

"People are drawn to the fact that it's in town on the new Catawba Avenue, with a new street, sidewalks and lights," he said. "The whole idea is to invigorate Catawba Avenue downtown."

Elizabeth Place is next to First Baptist Church and across from Cornelius Elementary School, off Interstate 77 Exit 28. It is one block west of the public library and within walking distance of the proposed transit district and commuter-rail station.

"There seems to be a growing number of people who would like to live in town but want some luxury," Wilkinson said. "They want to be able to walk to their transportation, to be close to their library, close to everything."

Work on the second building should finish by June or July, Wilkinson said. A shared driveway between the buildings will allow for drop-offs at the front and side entrances. Parking will be in the rear.

Condominiums will range from 1,584 to 1,700 square feet. Each will have two bedrooms and two baths, a covered balcony, hardwood floors, 10-foot ceilings, a gas fireplace, granite countertops, built-in bookcases, a security system, upgraded stainless steel appliances and a luxury master bath with shower.

The buildings will offer fiber-optic, high-speed telecommunications and data services.

Condominiums will sell for $255,700 to $269,900. Commercial/office space is $185 to $195 a square foot, with a $25-per-square-foot upfit allowance.

Lake Development LLC is the developer. Prestige Building Co. is the general contractor. Wilbur and Associates is the architect. Details: Call Wilkinson at (704) 896-5542.

Charlotte Observer

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