Park Sterling Bank moves closer to construction of new facility – Gaston Gazette

Michael Barrett Gazette staff GazetteMike

A Charlotte-based financial institution has cleared another hurdle in its bid to establish a new hub in Gastonia.

Park Sterling Bank recently applied for a conditional use permit through the city of Gastonia to build a substantial new office building that will encompass 26,917 square feet. The 6.74-acre site near CaroMont Regional Medical Center is zoned to accommodate offices, but the city requires such a permit there for any proposed building that will be in excess of 25,000 square feet.

The Gastonia Planning Commission approved the request this month.

Park Sterling announced last summer it would begin searching for property for an expansion in Gastonia. Then in the fall, the company pulled the trigger, paying Gaston County $938,000 for a plot of publicly-owned land at the corner of Plastics Drive and Summit Crossing.

The bank initially stated its new one-story structure would only include 24,500 square feet, though its plan has only grown since then. Overall, the project will represent a total investment of roughly $3.7 million here.

Park Sterlings push is part of its broader plan to consolidate many of its back-office operations, which will involve bringing jobs from South Carolina to Gastonia. The lands position within the city limits means Gastonia will also see a boost to its tax base, just like the county.

Park Sterling CEO Jim Cherry said recently that Gastonia is a logical place to consolidate since they already have such a heavy presence here, and the banks leadership has been impressed with the local labor force.

The consolidation will move at least 15 new jobs into Gaston from other Park Sterling locations. The groups operating deposits, retail, bank cards, electronic banking, trusts and loans operations will move into one location in or near Gastonia.

The original plan last year was to finish constructing the new office building and move into it by late 2017, though that timetable may be pushed back.

The space will be mostly open space with cubicles, as well as some offices.

The companys headquarters will remain in Charlotte, where it was founded 11 years ago. Since then, mergers have helped the company grow to include some 60 offices and 529 employees.

You can reach Michael Barrett at 704-869-1826 or on Twitter @GazetteMike.

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Park Sterling Bank moves closer to construction of new facility - Gaston Gazette