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Council approves six‑month extension for Loray Mill Phase 2 incentive agreement
Summary
Council approved an amendment to the economic development agreement with TriBridge Residential to extend the start deadline by six months for Loray Mill Phase 2 (West Wing) and to move the project completion date to July 1, 2028; developer cited permitting and design steps.
Gastonia’s City Council voted Oct. 15 to amend the economic development agreement with TriBridge Residential (Traverse/Tribridge) to give the developer additional time to begin work on Loray Mill Phase 2.
Economic Development staff said the original EDA required the developer to begin work within 12 months of signing; TriBridge requested a six‑month extension to allow completion of design, civil engineering and permitting. Josh McPherson of Traverse/Tribridge told council the team completed civil drawings in September and had the site permit in for review, expecting the site permit in November and a building permit by the end of Q1 2025, with construction start in Q2 2025. The amendment also adjusts the project completion deadline to July 1, 2028.
Council moved and approved the amendment unanimously, authorizing minor changes by city legal staff. The developer said phase 2 will add about 143 residential units with remaining commercial shell space totaling about 10,000 square feet; staff said added parking and site controls were included in plan submittals.
