The Carrboro Board of Aldermen is working with Woodhill N.C. as the company tries to develop the land.
The property has not been used in years because of a flooding problem caused by a drainage system that is too small for the amount of water that comes through the property, Alderman Damon Seils said.
The land was previously used as a light manufacturing plant, but moved because of the flooding problems.
“This property that we have purchased has been sitting there abandoned and derelict for 20 years now, and it floods, and it’s just a terrible eyesore on a main entrance to Carrboro,” said Runyon Woods Jr., a partner at Woodhill.
“An opportunity exists for us to bring light manufacturing back to the site and intermix it with restaurant and retail.”
But the proposed addition of restaurants to the property is holding up Woodhill’s plans.
The site is in an M-1 zoning district, which allows light manufacturing, but does not allow restaurants, according to the town’s Land Use Ordinance . Woods presented a potential change to the zoning laws to the board Tuesday that would allow restaurants to be built on M-1 properties.
Seils said the property’s drainage system needs to be replaced, a task that is very costly. Woodhill is looking to recover the costs by developing the land for restaurants, which can be more profitable than manufacturing plants.