Ares Management Corp. has acquired a historic Plaza Midwood property that looks to be poised for redevelopment.
‘New Main Street’ planned for small town
The Los Angeles-based investment firm closed recently on the $18.5 million purchase of 1817 Central Ave., according to Mecklenburg County property records. The firm bought the property from 1817 Central Avenue LLC.
The Charlotte-Mecklenburg Board of Education sold the site to the LLC in October 2021 for $8.68 million, property records show.
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Plans filed with the city of Charlotte over the last few months show Ares is planning to build a multifamily development on the site.
Continue reading on CBJ’s website here.
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