Another Setback For One Of Charlotte’s Most Significant African American Landmarks
CHARLOTTE, NC. — Another setback for one of Charlotte’s most significant African American landmarks. The Excelsior Club property is back on the market after a pending sale fell through.
New River Brokerage tells WCCB that the former buyer tried to reduce the contracted price, but then the owner refused. The contracted price was already below the $1.5 million asking price.
The Excelsior Club is owned by State Representative Carla Cunningham. She filed paperwork last year to have it demolished. City Council stepped in, voting to have the city’s Economic Development Committee try to figure out how to restore the club.
City Council member James Mitchell says the club isn’t selling because of the $1.5 million price tag.
“It’s a tight site. So you got to get creative and say what can we put on this site now that can generate revenue that can at the same time something everyone is proud of,” says Mitchell.
Mitchell says the city probably wouldn’t cough up $1.5 million for the club. It would take an estimated $800,000 to get it up to code. He thinks the city, county and private partners should buy the property.
He says some of the money to purchase the property could come from the city’s business corridor budget or the facade grant program.
“Let’s submit a request for a proposal to developers who want to put the iconic, transformative, historic building back together that could last in the future.”