The Town of Mooresville has approved the use of a new (at least to NC) type of revenue bond to be used for building infrastructure at the $800 million Langtree at the Lake project. This will create a “special assessment improvement district” to repay about $46million in revenue bonds supported by the town for the road and utility work. Russell Rogerson, executive director of the Mooresville-South Iredell Economic Development Corp. said that by the time it is complete, the Langtree at the Lake project will have created nearly 7,000 jobs. The Charlotte Observer did a complete article on this yesterday, and you can see that HERE.
Langtree at the Lake at the new Exit 32 off I-77 looks to be like no other project we’ve seen in this area. It will be a combination residential and business development that will include a 12 story Embasy Suites Hotel and Convention Center. Remember what I said about growing or dying last week? Hopefully, that is an indicator that the Lake Norman area will continue to grow and be economically healthy. This project along with the steadily growing Lowe’s Corporate Center will generate lots of interest and economic well-being for many years to come.
Iredell County is fortunate to have the variety of communities and land that we do. The south end is becoming an economic powerhouse, and the north end retains some of the most beautiful farmland you’d ever want to see. The trick in our county is to get every citizen to appreciate the benefits of both ends toward the good of the whole county.
