New townhomes could be added to the Economy Inn property near Sugar Creek soon


New townhomes could be added to the Economy Inn property near Sugar Creek soon

The Economy Inn was located among several hotels near the Interstate 85 exit at West Sugar Creek Road. It was often seen as a last resort for individuals before they became homeless and was known to have a high crime rate. In fact, the area where the motel was located had a violent crime rate that was significantly higher than Mecklenburg County as a whole.

Charlotte City Council is set to vote on Monday to turn over the property where the Economy Inn once stood to developers who plan to construct townhomes on the site. The city purchased the four-acre plot for $4.2 million with the goal of reducing crime in the area and increasing the availability of affordable housing. After demolishing the motel, the city assisted in relocating approximately a dozen residents with the help of $1 million from the Mayor’s Racial Equity Initiative.

The current plan is to sell the property to two affordable housing developers, True Homes and Prosperity Alliance, for $1. They have proposed building a minimum of 39 townhomes on the site, which would be sold to individuals earning 80% or less of the area median income. This equates to around $80,000 for a family of four.

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