Momentum built in January with the announcement of the Project Rising Tide Action Strategy as well as Charlotte’s acceptance into the Michigan Main Street program continued Monday, Feb. 8. Charlotte City Council voted unanimously to create an Obsolete Property Rehabilitation Act District and Application for two properties on N. Cochran Avenue — 339 and 401.
The creation of the two districts and approval of the applications paves the way for local entrepreneur and president of Precedent Properties, Anthony Faulkner to move forward with what could be a $2.75 million redevelopment project on the north end of town. Faulkner presented a quick snapshot of the possibilities the two blighted properties hold during the council’s Jan. 25 meeting.
“I’m excited about it, I’ve put a lot of money into this thing,” Faulkner said Jan. 25. “This is not just talk, I’ve put my money where my mouth is not only buying the buildings, but in fixing them up.”
Faulkner has already had to remediate a number of issues with the two properties since purchasing them nearly two years ago.
“The rumors were that it was contaminated, condemned, had hot spots for oil spills,” Faulkner said. “It was a lot worse than you thought it was. Because it had been so neglected, it became a blighted property by definition.”
He said the problems with the building did not outweigh the potential he saw for both buildings. The 401 N. Cochran property, the former Dennis Distributing building, he said, has 24,000 square feet of potential mixed use retail, restaurant and housing space in addition to 7,000 square feet of warehouse space. The 339 N. Cochran Property possesses 5,500 square feet of manufacturing space and another 14,000 square feet of warehouse space.
“Manufacturing and retail are two things that make sense there,” Faulkner said. “I’ve thought this through. I’m looking for investors, I’m looking for grant folks, I’m looking for people to help me make this a reality and the first step is to be able to partner (with the city).”
By granting the OPRA designation, the City of Charlotte agrees to freeze the current property taxes on both buildings for a period of up to 12 years. Faulkner will continue to pay property taxes at their current level and not have to pay for the increase in value while the OPRA designation exists.
Faulkner said he is currently working with investors to keep the project moving. Work on the roof of the 401 building will take place this year. Faulkner said he will begin to market the property to potential investors as soon as possible once roof replacement is finished.
Council approves downtown art grant application
Charlotte City Council voted 6-to-1 to approve the submission of a Lansing Economic Area Partnership Creative Placemaking public art grant application. A public art ad-hoc committee, made up of local business owners and representatives from the Charlotte Chamber of Commerce and Downtown Development Authority, has been working on a grant application to secure $10,000 to place a work of art at Peter’s Circle, located on the southwest corner of Lovett Street and Cochran Avenue.
Council’s approval includes up to $5,000 in financial support for the installation of the artwork.
If the grant application is approved, the public art committee will be looking for community input as to the themes preferred in a public art display. A Michigan-based artist will be contracted this spring and a dedication ceremony will be planned for early fall.
“Public art is a great way for older communities to freshen up their image,” said Community Development Director Bryan Myrkle. “Public art is a strong American tradition. Think of the Gateway Arch in St. Louis, the Statue of Liberty, Mount Rushmore, think of the Vietnam Veteran’s Memorial, or the tribute in light at the 9/11 Memorial in New York, these are all a part of who we are as a country and we could be doing some of the same things in our own community.”