Three of the four parcels on the market contain turn-of-the century houses in various states of repair.

March 9. By Dave Yochum. With less than 10 months before the Cain Center for the Arts grand opening, downtown Cornelius is poised for redevelopment.

A four-lot parcel along Catawba Avenue at School Street has hit the market for $1.6 million. Three of the four parcels contain turn-of-the century houses in various states of repair. The 1.4 acre, four-lot parcel is the trophy, not the houses.

A four-lot parcel along Catawba Avenue at School Street has hit the market for $1.6 million.

Marketed as a “redevelopment opportunity,” the Neighborhood Mixed Use zoning on the bulk of this property allows for high-density residential and limited commercial, all within walking distance of the $25 million Cain Center which opens in December.

The sellers are Elaine and Phil Howard, owner of Southern Financial Group, officed at 21216 W. Catawba. They could not be reached for comment.

Corner Oak property

Also on the market is the Corner Oak Land Assemblage, which is adjacent to the Cain Center itself. It comprises 200 feet of frontage along Catawba Avenue, including brick storefronts from a century ago.

The asking price is $2 million to $4 million, according to sources in local commercial real estate.

A mixed-use project is highly probable; possibilities include a boutique hotel with a parking deck, condominiums and retail, including restaurants.

Downtown will be a different place in the years to come, according to developers, even though there is still a question around how the Town Board will update the Land Use Plan over the next five or six months.

Until then rules and regs for developers of larger projects are in flux, but you can think in terms of a higher level of development downtown—restaurants, breweries, art galleries, a hotel.

The Cain Center for the Arts is a $25 million capital investment that is attracting regional if not national attention from developers.