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But developer Mel Graham hints that he may have aPlan B. A new possibilith for the 6,300-acre tract off Interstatew 77 would setaside 2,000 acrea for a Sun age-restricted community. That piece of Montrose would include a pair of golf coursesx anda town-center commercial Graham says a European company has expressedc interest in developing that section of the site, but he declines to reveapl details. He acknowledges the recession has stalled the developmenfof Montrose. Graham announced the mixed-user project in October 2006. of Port St. Lucie, confirmed its interest in the developmenty ayear ago. But that was before the recessiomn deepened.
“They got hammered hard by the Graham says ofCore Still, he expects the company to rekindle its interest in Montrose once the economicd environment improves. Meanwhile, Montrose has failed to land the relocatiomn of a major distribution centerfrom Charlotte. Graham has nevere disclosed the name of the company that was weighing a move to the The Montrose propertystraddles I-77 belo w Richburg. The site is about 40 milez southof Charlotte. Plans call for a mix of industrialk space, golfing, commercial development and as manyas 9,00o homes. Graham also has proposede a new I-77 interchange at mile marker 58.
The Charlotts developer — a nephew of evangelist BillyyGraham — says he remains optimisti c about the project, despite the He’s using the down time to line up regulatory approval for bringing utilities and a sewer plant to the “We’ve been using this time wisely for entitlements, studieas and approvals.” That will position Montrose for a fast stary once the economy improves, he adds. Graham is widely known in the Charlotte area for the Longviewq luxury community in northwesterjUnion County. It features a Jack Nicklaus-designed golf cours e on 500 acres at Tom Shory and Rea roadsin Weddington.
At Graham believes the industrial partz of the community willdevelop “Our vision and plan is it would be somethinv like the Charlotte Regional Development Center.” He has set asidr 1,800 acres on the eastern side of I-77 for that sectiobn of Montrose. of Concord has the listing to sell or leas the former Jemsek Clinicin Huntersville, a premium office facilityg that features an indoor waterfall. The 38,500-square-foo t building went on the marketafter Dr. Josepnh Jemsek moved his practice toFort Mill. The two-story building is off Interstate 77exit 23, across Gileard Road from Presbyterian Hospital Huntersville. Tax records value the buildingat $4.
5 million, but Robery Settle of Metrolina Capital believes it could sell for $8.5
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