How proposed uptown land swap could make way for convention hotel
CHARLOTTE — The Charlotte Regional Visitors Authority is working on a land exchange that could add key development around the Charlotte Convention Center.
Tom Murray, CRVA chief executive, presented the plan to Charlotte City Council during its regular meeting on Monday. Murray explained that the CVRA wants to enter into a land-exchange agreement with Berlin-based Millennium Venture Capital to swap a portion of 501 S. Caldwell St., which is owned by the city, for a portion of 401 S. College St., which MVC is in the process of purchasing from Duke Energy.
The exchange would allow for the addition of a hotel next to the convention center, something Murray has for years said is necessary to keep Charlotte’s ability to draw events in line with competing markets like Nashville, Tennessee, and Austin, Texas. Currently, uptown Charlotte has about 6,200 hotel rooms, compared to 13,000 in Nashville and 18,000 in Austin.