October 12, 2021
Developers said they are close to beginning major construction at the River District, a development project aimed at transforming a largely vacant tract along the Catawba River into a mixed-used residential and commercial community.
During a Charlotte City Council meeting Monday, a project manager with Crescent Communities said the development firm plans to break ground this year.
The project will be partly funded by taxpayers, with the City Council committing to about $30 million of public investment since the project was first proposed in 2016. That has included $16.2 million in capital improvement bonds and $15 million through a through a tax increment grant subsidy — a payment based on expected future tax revenues.
The public investment has raised questions about how the project will prioritize affordable housing, and about renaming one of the major thoroughfares: Dixie River Road.
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