Development

LINCOLNTON, NC-This North Carolina sector, some 40 miles northwest of Charlotte, is flourishing these days by giving tax breaks to new or expanding companies.

NEWHALL, CA-Curtain is raised on restored theater, which local officials hope will ignite more development and redevelopment in their quaint but tired central business district.

CHARLOTTE-The home improvement chain is shooting for a summer 2002 opening at Midtown Square, according to industry sources, but the developer hasn't yet purchased the 26-acre site or bought out the leases of existing tenants at the shopping center.

ATLANTA-EHCA hopes to get an OK from the state to serve the affluent, growing north metro Atlanta population.

LIVERMORE, CA- Located along the 580 corridor, construction of the four-building Copper Hill Business Park is expected to break ground in the beginning of next year. As things stand currently, the first three buildings have already been approved by the Planning Commission, with final approval of the last building expected by January.

WEST PALM BEACH, FL-The developers are expecting an 11% return on their $250 million investment, according to published reports. If they achieve that, it would rank the venture among the top 10% to 15% in profitability for shopping centers in the country, say industry sources.

ASHEVILLE, NC-The state government voted unanimously to take the land in DuPont State Forest from the developer and pay $12 million. The case could go to court.

CHICAGO-High-powered real estate partnership that includes Lakeside East backers Magellan and Near North gets big construction loan from a group of banks led by Bank of America. The Grand Plaza will be built on the last remaining parcel of the AMA's formerly huge near-north land holdings.