Sanitized Dirt Goes for $282,609 Per Acre

Good dirt doesn’t come cheaply in these parts, Crosland Properties is finding out. The firm paid Carolinas Brownfield Development Group $1.3 million for 4.6 acres of decontaminated textile land at south Boulevard and Griffith Street. The price equates to a lofty $282,609 per acre or $6.49 psf.

Crosland plans to break ground in February on 25,000 sf of office/retail and 94 residential units. The site was previously occupied for 50 years by Terrell Machine Co.

Crosland is also working with Pappas Properties at Birkdale Village, a mixed-use project under construction near Interstate 77 in Huntersville. The venture will comprise 325,000 sf of retail, restaurants and entertainment; 75,000 sf of offices; and 180 apartments atop three-story commercial buildings.