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CHARLOTTE, NC–Houston developer Hanover R.S. LP has contracted with the city to buy the 35-year-old, uptown Red Carpet Inn site for $2.6 million. Hanover beat out 35 bidders for the 1.5-acre property located in one of Charlotte’s hottest development corridors.

The Charlotte Housing Authority owned the property for the past 20 years, renting units to about 100 low-income tenants. The building has been vacant since last summer when the agency ended its rental program. In its heyday, the Red Carpet Inn was one of Charlotte’s most elegant hotels, catering to celebrities, heads of state and captains of industry.

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