Charlotte City Council Approves Buying Eastland Mall

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by Caryn Little

Story Created: Jul 24, 2012 at 3:17 PM EDT

Story Updated: Jul 24, 2012 at 3:17 PM EDT

CHARLOTTE, N.C.--The city of Charlotte is taking a big step to revitalize the east side.  City Council approved a plan to purchase the old Eastland Mall property. 

It will cost almost $14 million to buy the 80 acres from its seven owners.  Several companies are interested in converting the property into a movie studio with sound stages. 

The city has to pay $750,000 in earnest money by the end of the month.  The goal is for the deal to close by the end of August. 

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