Estates, Inc. v. Town of Chapel Hill

LEWIS, Judge.

Petitioner Estates, Inc. (“Estates”) is a South Carolina corporation authorized to transact business in North Carolina. Petitioner Timberlyne Investment Co., LLC (“Timberlyne”) is a North Carolina limited liability corporation. By virtue of an Offer to Purchase and Contract executed on 5 January 1995, Timberlyne is the prospective vendor, and Estates is the prospective vendee, of an irregularly shaped 34-acre parcel of land in Chapel Hill, North Carolina (hereinafter “the Property”). The Property is subject to residential zoning restrictions.

Estates wants to build twenty-two…