Aug. 10--Charlotte city leaders begin this week considering an ambitious plan for uptown redevelopment that could result in the creation of a massive highway cap stretching across Interstate 277.

Starting Monday, officials are taking part in a series of closed-door sessions intended to iron out a plan for redeveloping a prime piece of uptown real estate.

But one of the more provocative ideas leaders will discuss this week is the creation of a highway cap, essentially a large bridge that would connect uptown with South End. The land could be used for anything, from a hotel to a park to shops and restaurants.

"This particular stretch of freeway is perfect for getting a cap," Jim Schumacher, assistant city manager. "The highway is down in a trench, which makes it easier to build across."

The recent redesign of I-277 has left about 12 acres of available land just off the highway, on the southwest side of uptown. The five parcels sit in an area next to the NASCAR Hall of Fame and just a few blocks from Bank of America Stadium and Time Warner Cable Arena.

Already three parcels are under contract, and officials expect the others to follow quickly.

"What we want is high-rise, high-density and high-quality," Schumacher said. "The goal for that area is more activities, more people and more money coming into downtown."

Carving the land out of the highway cost about $26 million. The city paid $21 million. The state paid the rest.

Schumacher said selling all five parcels should net more than $60 million for the city, about $20 million of which will go toward the construction of the hall.

So far Charlotte-based Lincoln Harris and Tidewater Partners/Prada have signed contracts. Michigan's Greenwood Development Co. is the other developer onboard.

Lincoln Harris has agreed to pay $7 million for a 2.6-acre plot near South Davidson Street. A company spokesman said the company is in the design stage and not yet ready to discuss its plans.

Tidewater and Greenwood did not return phone calls. Tidewater has agreed to pay $21.2 million for 3.7 acres right across from the Hall of Fame. Greenwood is on the books for $28.3 million for 5.3 acres across from the Charlotte Convention Center.

Several cities have built highway caps with varying degrees of success. Seattle created one of the earliest when it built a park and convention center that covered three city blocks and stretched across Interstate 5.

More recently Columbus, Ohio, spent about $7 million to build a 1-acre cap over Interstate 670. The Union Street cap, as it is known, has become a retail destination, leading other cities in Ohio to consider similar construction.

However, not all caps work exactly as planned. Phoenix's Margaret T. Hance Park, built atop Interstate 10, is not only home to parades and outdoor festivals, it is also a popular hangout for the homeless.

This week's meetings will be between several Charlotte City Council members and a group of engineering consultants. It will include local business leaders and key city staffers. Officials are expected Thursday to announce their findings.

Jim Kimbler, Charlotte's transportation planner, said the highway cap is just a "vision," the idea for which dates back to the Center City 2010 plan. No money has been set aside for it, as of yet.

"But this week we will be able to peel the onion back and look at the opportunities and challenges something like a cap would create," he said.

-----

To see more of The Charlotte Observer, or to subscribe to the newspaper, go to http://www.charlotteobserver.com.

Copyright (c) 2008, The Charlotte Observer, N.C.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

Story Source: The Charlotte Observer (Charlotte, N.C.)