CHARLOTTE, N.C. (QUEEN CITY NEWS) – After falling under foreclosure last year, the Epicentre has a new owner.
On Aug. 9, the property went up for auction after two delays.
“I’ve got an apartment right around the corner, so I walk by this empty space maybe twice a day,” Uptown resident Ronnie McDowell said.
While some walking past the Epicentre see a shell of what used to be a popular entertainment hub in Uptown, others see a blank canvas.
“The location of it provides great potential for not only the residents of uptown but visitors alike and people that work here,” said James Labar, Charlotte Center City Partners Senior Vice President of Economic Development.
The property was sold on Friday after being up for auction for ten days.
Deutsche Bank, the lender who loaned out millions to the property’s previous owner, took over the Epicentre with its $95 million bid.
“We look forward to working with whatever partners come in there to really bring that site back to life,” Labar said.
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Despite no upset bids during the bidding process, other investor groups have made an effort to purchase the property.
“This is a very important piece of property; we hope that it can be handled in a proper fashion,” said Eric Montgomery, an attorney representing the investment group.
His client has submitted multiple offers on the property, including a 68 million dollar proposal.
He says the bank has yet to respond to their offers.
“Part of our next step is I am probably going to send them a letter asking about where they are in the process and what consideration can be given to our clients and offers to see what we can get done,” Montgomery said.
While the bank has declined to comment on its plans, people in Charlotte are optimistic it will eventually be brought back to life.
“It’s a great question mark, but I enjoyed it when it was here, so I would like for them to bring it back,” McDowell said.