Charlotte Coliseum Officially Up For Sale

CHARLOTTE, NC (AP) — The arena that wasn't good enough for the NBA is apparently just fine for several development companies. However, it's expected that the 20-year-old building will come tumbling down.

So far, three companies have bid on the old Charlotte Coliseum, each eclipsing the previous offer by millions. The latest proposal is a $19 million bid from Atlanta-based Pope and Land, which wants to build a complex of offices, stores, townhomes and single family homes on the 154 acres of land.

The bidding started with Crescent Resources, the development arm of Duke Energy, which offered $16.5 million in 2004 for the site. Virginia-based Comstock Partners topped that with a nearly $18 million bid before Pope and Land came forward.

Assistant city manager Curt Walton says he's expecting a fourth bid, but he's not saying where it's coming from.

The sale is listed on Monday night's Charlotte City Council agenda.