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Work to Begin on $100M, 2.6M SF Rowan County Business Park
Red Rock Developments has put off building a six-building, 2.6 million square business park in Rowan County, blaming market conditions. The Charlotte Business Journal reports the group is now ready to move forward on the project that has received a number of economic incentives.
Carlton Farms will be built in three phases, with buildings ranging from 168,000 to 1.1 million square feet.
The county incentives include public infrastructure reimbursements for the project worth up to $4.2 million. Red Rock must develop with a minimum assessed tax value of $100 million to receive the incentives. The initial agreement required a $117 million investment in the project’s first phase. The county could also consider additional incentives for the project once the $100 million assessed tax value is reached.
The Carlton Farms site, which has been owned by the Carlton family, is near Exit 81 of Interstate 85 and neighbors Chewy’s large fulfillment center.
- ◦Development
