atlrvr

Creating a new top for both of these high-rises since they'll be adjacent on the same block. I believe everything is getting redeveloped except for the Atrium urgent care and Richa graphics at opposite corner (but Richa might still get rolled in?) Centrum Realty - Will front South Blvd just where H&H Automotive is, with the rest of the development on the rear, vacant lot that was previously proposed to be a Courtyard by Marriott. - 37 story high-rise fronting South, midrise apartments fronting Worthington, townhouse style apartments fronting Cleveland. Retail on ground floor of Worthington side. - Has entered building permit stage. Southern Land - Replacing Tyber Creek and adjacent businesses. Historic "Leeper" store proposed to be relocated to southeast/now vacant corner of Worthington and Cleveland. - Height???? Will contain 300 units and include a spot for Tyber Creek on the ground floor. - Has requested demolition permits, and building permits. Demolition on hold for 365 days, but can be proceed sooner if approval granted for relocating Leeper store. https://southernland.com/property/dilworth-charlotte/

I think this is correct. The lender is a trust that doesn't have any capital. The loan servicer has limited capital, and will look to reimburse themselves from the proceeds whenever the property is eventually sold. The investor directing the trust has to improve any expenditures, and since ultimately they will bear any losses, are going to have to be convinced any money spent will have a positive return on value. The way this debt was placed, doesn't allow for easy management in foreclosure situations.

The Keith Corp is looking to rezone the Dilworth Neighborhood Grille building/parking lot to allow for an office building up to 225' in height. This would not include the old dry-cleaner/butcher shop/poke bowl/??? building at the corner Morehead/Mcdowell.

The problem with Macy's was hubris. They simple assumed their "big city" name would wow the lucky people in the hinterland. They did not appropriately budget the significant capital expenditure required to roll-out a consistent store experience, and almost importantly to integrate IT/point-of-sale/inventory systems. Basically, their math was (ROI based on Rival Chain Acquisition price + New Signage cost) On that list of former stores, I survived Manchu Wok with their 78 (Grade C) sanitation score

Boston Fed? I lived almost directly across the street. I love the building. World renowned architect. Great execution of a blend of modernism and brutalism.

Yes....but in fairness the high rises and public transit did make things pretty bleak for The Little House and was glad she could find a nice new bucolic home.

Here's a higher quality/enhanced detailed version from the same angle.

Yes, off-topic, but agree with H&H being very honest/reputable. Both Joe and Dean there are stand up guys.

There are going to be 2 very tall (30+ story) towers with just a few feet of separation right here on South Blvd.

Abacus Capital. 129' 145-ish units I think. Retail facing McDonald and Cleveland.

I usually come down squarely on the side of property owners, and at the end of the day I probably do in this case as well, but a couple of thoughts in Blue Blaze defense. 1) they taking that risk to open (with previous owner to Portman) created value there for mill owner 2) the building itself is pretty cheap quality, and maybe not worth full "market" rent for the area 3) I can only assume Blue Blaze spent a fair amount of capital for brewery systems, much of what could be lost, as I assume relocating that equipment is very expensive All that said, Blue Blaze should have known the risks when signing what I assume was a 5 year lease. Lastly, and this is pure speculation, but wouldn't surprise me if Portman would prefer to have no tenant so they can demo/redevelop that part of the site.

Don't think that is possible given it's northeastern relative positioning. Ally/LU2 though def would cast shadows depending on time of day/year.

I stand corrected. I agree total height appears to now be 13 stories.

13 floors of hotel over 7 of parking I believe is still accurate.

The size of the park is somewhat meaningless unless there is regular demand for that much contiguous space. I say cut it in 1/2 and develop that land and you might actually have enough people living/working nearby to justify a 1.5 acre park. As it is, there is no programming that justifies it's size and it's never utilized (and never will be utilized) anywhere near capacity except 1-2 times a year when a social justice event needs a staging ground to march to Trade/Tryon. If we care about park rankings, given how flawed the methodology is, just wait until more of the River District is developed....convince whoever does these useless ranking that the 550 acres of "open space" there counts, and you've net added 548 acres after losing a bit in 2nd Ward.

At least 30 within Charlotte city limits. Probably quite a few more than that. That graphic is somewhat useless. Even the cities on there are way under counted (probably even Toronto). What's worse is the publisher RLB, is an industry consultant (not some random crowdsourcing)....seems like as a firm, they have zero (actually negative) value. The brief blurb on methodology acknowledges they are only tracking 14 markets, but implies it's a comprehensive count. There is so much wrong with this "Index"....but I'll leave it there.

They just received their construction financing: https://www.prnewswire.com/news-releases/canyon-partners-invests-51-5-million-in-charlotte-moxy-hotel-301648755.html

The fine print of that process says if they (HDC) chose to impose 365-day stay of execution (which they almost always do by default) that a submittal for a replacement structure can't be considered for 90 days. In this case, it looks like it took 6 month to get it's first hearing. The demolition was approved (or denied, depending on perspective) in April 2022, so right now, not terribly behind "best case" schedule. There were also notes provided by the HDC at that April hearing about what they needed to incorporate if they wanted to come back before the 365 period ends. One way of looking at it, is they (HDC) has a higher standard that must be met if they let the demolition/new development proceed within that 365 waiting period.

They submitted their plans to HDC and are being reviewed this month. My guess is that it might take 2-3 meetings to get a decision. https://charlottenc.gov/planning/HistoricDistricts/Documents/HDC_Cases_2022_2021-01060_Oct.pdf

Ahhhh...and there it is. Proposal to relocate it to the now empty lot at 300 E Worthington. https://charlottenc.gov/planning/HistoricDistricts/Documents/HDC_Cases_2022_2022-00596.pdf

No, 2000 people employed just within just 4 blocks of here that are part of the target demographic (under 35 and renter by choice) and can afford it (they personally or are 1 part of a couple that has >= $550k annual income) I can't speak to whether The Prospect is appealing or great value, but I like their chances in 1 per 1000 like it enough. @RANYC I was always under the impression that you were in financial services recruiting, but I might way off on that. I feel that people are always surprised that banks, Big 4 consultants, and "big law" all pay at or > 90% of NYC wages for Charlotte staff.

I mean sure, sports players could and do rent these types of units, but their reasons for being renters by choice are the same as investment bankers, consultants, corporate (external) lawyers, which is they don't know how long they will be at their current employer/Charlotte, that upward career mobility is more important at that point than family planning, they work/travel so regularly that ease of rental lifestyle is actually very appealing. While there are 100 players/coaches for sports teams, there are easily 2000 people between Duke Energy Center, Legacy Union, and Vantage that are under 35 and making (or at least including partner salary) $550k per year. That's who these units are targeted for.

I had lunch with the CIO and local Charlotte market president of a national apartment REIT a few weeks ago, and toured a few of their properties. The answer is most of those renters are "renters by choice", meaning ownership is not the lifestyle choice they want to make regardless of income. There are many hundreds of individuals or couples where that rent level is at or below average rent/income for the high end renter. I believe this company's South End portfolio rent/income ratio was 21%. At $9,700 month that's $116,400 per year rent. That "average" income is $550k per year. So something like a 6-7th year investment banker. Or a 5th year banker with a partner whose at Big-4. That's just the typical "high" finance couple. Plenty of higher level execs in other industries, big-tech remote workers, entrepreneurs, etc.

To add on to this train wreck, errrrr, minor derailment, GSD was technically in Redwood City which is part of the San Francisco MSA, but geographically closer to Cupertino . In fact their HQ is about 1.5 miles from the MSA borderline But yes, I'm sure the reasons KJ mentioned were all major factors.

Trammel Crow completed the purchase of that building at the corner about 3 weeks ago, so definitely seems to still be moving forward, though I don't know when they plan to break ground.