Summary:
The current owner of property at the northwest corner of East Colonial and Herndon Avenue is subject to a 1979 agreement with the City where the land is to remain as a single, integral parcel, not to be subdivided into lesser constituent parcels.
The previous buildings have been demolished for which this agreement was entered into, and the Municipal Planning Board has recommended approval of a master plan for a portion of this property and other properties to the north on January 21, 2014 (Dick's Sporting Goods and outparcel). An administrative master plan covers the remainder of the property (BB&T Bank). Considering the new development pattern, the City staff recommends terminating this agreement which requires consolidation of these properties in order to facilitate the redevelopment of the site.
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