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Contemporary Art Museum

"We've wound up having exhibits all over the city," said Linda Satterfield, chairwoman of the Contemporary Arts Foundation.

The museum recently received a $1 million grant from the city that it will use -- along with future profits -- to help fund a mixed-use development that will include a new permanent home for the museum, as well as condominiums, retail space and offices.

The $10 million to $20 million development will sit on the property of the Martin Street warehouse, which the museum owns.

Realizing that fundraising is always a challenge, the private nonprofit is turning to a developer, Grubb Properties, of Charlotte, to convert the warehouse.

"We have a mission of exploring creativity in all of our lives, in everyday lives, and I think we've put that mission to work in this project," Satterfield said.

CAM and Grubb Properties will soon start working on a design for the development, but they still are not sure if they will renovate the old 20,000-square-foot warehouse or demolish the warehouse and rebuild.

"I think it's extremely innovative" Grubb Properties business developer Sam Crutchfield said.

That's what interested the developer to get involved.

"It brings a lot of energy to this project verses what you would see with a lot of other urban and condo projects going on," he said.

Construction may start about a year from now.