HUNTERSVILLE – Realizing Huntersville’s vision for a revitalized downtown is one step closer after the town board approved the sale of the old town hall building for a restaurant and other non-residential uses.
The board unanimously approved a $1.44 million purchase agreement on April 21 for the 30-year-old, 8,700 square foot municipal building at the northeast corner of the Gilead/Mt. Holly-Huntersville and Old Statesville roads intersection. The buyer, listed as Town Hall Partners LLC, must put down $100,000 in earnest money.
The board held a second public hearing on the sale prior to the vote in order to update the public on the terms of the purchase agreement. The buyers have 150 days following the signing of the contract as an examination period – the due diligence phase where the buyers can do additional surveying and testing. The property is scheduled to close within 120 days of the end of the examination period, but the buyers can extend the closing for up to two 30-day periods with an additional $25,000 in earnest money for each extension…