CHARLOTTE-Shield Property Co. is planning to bring its Terraces retail center concept to Ballantyne. Partners George Shield and Bob Bruner are buying eight acres from Pulte Corp. for an estimated $6.4 million or about $800,000 per acre ($18.37 per sf).

The price is considered by brokers to be on the high side, but the developers feel they can recoup their investment with an upscale mix of boutiques, restaurants and specialty shops comparable to those in the SouthPark mall.

The developers will pattern the new venture near Ballantyne Commons Parkway after their existing products, Terraces at SouthPark and Terraces at University Place, near North Tryon Street and Mallard Creek Road.

Construction is expected to get under way by spring with tenants opening in time for the 2001 holiday season. Heiliger Shield Associates will be in charge of leasing.

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