The Carolina Virginia Fashion Exhibitors (CVFE) needed a new facility in which to consolidate apparel showrooms and exhibition space in 1987. MPV Properties predecessor, Crosland Commercial, lead by Jim Merrifield, assembled a four-acre block in Uptown Charlotte bounded by Fifth, Sixth and College Streets. A 460,000 square foot mixed-use facility with an exhibition hall, showrooms, 12,000 square feet of street level retail, and an 875 car parking deck was developed. Key elements of the project were:
- Negotiated sale and lease back of land with City of Charlotte to provide cost-effective financing
- Provided master lease to CVFE for their showrooms and exhibition hall
- Utilized the existing structural frames of two pre-existing on-site warehouses to substantially reduce construction costs
- Created an air rights lease for development for a full-service hotel on site
- Rezoned the property for mixed-use development
The fully developed project, named Charlotte Apparel Center, was delivered to the Carolina Virginia Fashion Exhibitors. At a later date the facility was converted into offices and sold to Bank of America for their operations. Today the building houses Wake Forest University Charlotte Center.