Regional Report Western July 2013

REGIONALREPORT Western

A periphery slope 

The southern part of Asheville’s central business district is experiencing a rebirth as startups and expanding businesses seek affordable property close to the city’s more-expensive downtown. At least nine projects, a mix of residential and commercial, have been proposed or are in the works for the neighborhood, known as South Slope and full of run-down warehouses, former car dealerships and vacant lots. “It’s downtown yet affordable,” says Mike Rangel, owner of Asheville Pizza & Brewing Co., which opened a location in South Slope in 2006. He debuted an event venue there in May.

“If you are asking me today, I can’t see there being a golf course.”

— Greenville, S.C.-based Cliffs Land Partners LLC CEO Brett Johnston on the chances of his company building a golf course at High Carolina, a 1,000-home planned community in Buncombe County. The development received notoriety in 2007, when its founder announced it would feature the first U.S. course designed by Tiger Woods. Johnston is part of a group that bought High Carolina out of bankruptcy last year.

Briefs

FLETCHER —  All-States Medical Supply promoted Jason De Los Santos to president from vice president of operations. He replaces co-owner Marcus Suess, who will be executive chairman. The medical-equipment provider is doubling its local workforce to 45 by year-end after winning a Medicare contract for mail-order diabetes supplies.  

ASHEVILLE — New Belgium Brewing has postponed construction of its brewery here by eight months because of added capacity at its headquarters in Fort Collins, Colo. It expects to complete the $175 million project by late 2015 or early 2016.

ASHEVILLE — The N.C. Office of the Commissioner of Banks shuttered Pisgah Community Bank. Rockville, Md.-based Capitol Bank will assume most of its $21.9 million of assets and $21.2 million of deposits as well as its one branch.

ASHEVILLE —  Boston-based Tremont Realty Capital and Newton, Mass.-based New England Development will convert Biltmore Square Mall into a 325,000-square-foot outlet center by 2014. Just off Interstate 26, it is anchored by Belk and Dillard’s stores.