In March 2018, the City condemned Mr. Alexander’s property consisted of 97,097 square feet (2.229 acres) for a new fire station near the fast-growing South End district that is immediately south of the 277 inner belt highway around center city Charlotte. At the time of the taking, the property was being used for a three-bay car wash and car cleaning business. The City deposited $820,000 as its estimate of just compensation.
Mr. Alexander’s team of land use and valuation experts was able to show the City that the property’s highest and best use was not for industrial use but was for TODD (Transit Oriented Development District) use or MUDD (Mixed-Use Development District) use that would have allowed a density of approximately 172 units on the 2.2 acres. The case settled at mediation.
$2,825,000 ($2,005,000 or 245% increase)
City of Charlotte vs. Alexander