Update: Investor Plans To Preserve The Excelsior Club

 

CHARLOTTE, NC. — UPDATE: Charlotte’s historic Excelsior Club is now under contract with a California based investor, according to New River Brokerage. They say the investor plans to preserve the club. The Excelsior was on the market for $1.5 million – two other offers were made on the property but they were rejected.

Original Story, posted June 11th:

One of Charlotte’s most significant African American landmarks has been saved from demolition, for now. The future of the historic Excelsior Club is now in the hands of the city.

The night club is a historic landmark, it made the list of most endangered historical sites in America two weeks ago.

The Excelsior Club is owned by State Representative Carla Cunningham. She filed paperwork last year to have it demolished. Wednesday was the day that could have happened.

City Council stepped in Monday night. They voted to have the city’s Economic Development Committee try to figure out how to restore the club.

Council member James Mitchell is the chair of the committee.

“This is important to our history. That we restore the historic Excelsior Club,” says Mitchell.

The building is on the market for $1.5 million. It would take an estimated $800,000 to get it up to code. Mitchell says the city wants to partner with the county, and other organizers in the community to buy it.

“The asking price is pretty enormous, but you can’t put a price on history.”

Mitchell says some of the money could come from the city’s Business Corridor budget or the Facade Grant Program. He says the Foundation of the Carolina’s is interested in helping the city buy the building.

The next Economic Development committee meeting is June 27th.