CHARLOTTE-After losing out to Pennsylvania-based LCOR Inc., locally-based Spectrum Properties is preparing to bid again on the Uptown 3.3-acre convention center site, now that LCOR’s proposal has been rejected. Spectrum’s development plan is a little different this time. It calls for demolishing the old center and constructing a complex that resembles the entertainment retail centers in Denver and Memphis, TN.

Spectrum president Darryl Dewberry has talked about a project similar to Peabody Place in Memphis. That retail center, put together by Belz Enterprises, contains 300,000 sf and is scheduled to open next year. In addition to some 40 specialty shops, the center will offer a 21-screen movie complex and other entertainment-related components. Dewberry promises to make the site accessible to the restored trolley and light-rail lines.

City Council will vote on Spectrum’s proposal in January. No one else is after the property. For the city, a quick land sale would mean money in its treasury. For example, interest alone on a minimum $13 million transaction, would give the city $780,000 annually. The city estimates that annual costs for maintaining the convention center range from $100,000 to $500,000.

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