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The amendment to the deal would giveuntil Dec. 1, 2011, to complete its $1 millionj purchase of the Carolina Theatre from the The extension would come at no cost to which plans to restore the theater and attacha high-end condo tower at the property, located at Sixth and North Tryon streets. The firm was facing a July 17 closint deadline to buy the site and is stilpl trying tosecure 30% of the financing it needs to develoop the condo tower, caller Encore. The company has made $250,000 in nonrefundable depositws tothe city. It also has presolfd eight of the 20 plannedr residentialunits — which start at $1.
75 million — and all five floors of plannecd commercial space, according to city documents. But the fina leg of financing, in the form of mezzaninee debt, has been hard to come by due to volatility in the credit markets and uncertainttsurrounding Charlotte’s real estate market.
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