UrbanFuture

I was grabbing a couple "pre-dinner, nice weather" beers at Thomas Street with friends last night and couldn't help but wish that the neighborhood would never ever lose it's hipster feel. It, along with Dilworth, Elizabeth, and Southend are true gems of close in neighborhoods in my opinion. If they can fill that place up at those prices then the more the merrier, it'll be good for local businesses.

No kidding. What are these developers thinking? Its this and a lot of other new projects that are "upscale apartment living" that are doling out very high per month rental rates in an economy that is butchering incomes of their target demographic. Not to mention the local financial economy is for all practical purposes in shambles (no one looking to make long term financial commitments because of instability, including a year lease on an apartment), which is a major contributor to upscale multi-family dwellings in or around Uptown. Its fine to have higher rents if there is scarcity, not if there are, oh... I don't know, 2000+ apartments about to hit the market this year near or in Uptown. If it were me, I'd be trying to lock in a lot of people at a lower rate to get the place full before these other projects come online, especially since this project is not on a rail line, Uptown proper, or in a relatively recently wealthy neighborhood, ie. Dilworth. End Rant/

Just saw that. Interesting move. From the sales center... "rents ranging from $1200-$2400 per month, these homes will be positioned at the high end of Charlotte's rental market." hmmm, you and everyone else who is new to the apartment market Catalyst. I hope this turns out well and they get some solid occupancy numbers in that building. I personally think it turned out to be a great building, I like it better than Avenue from the street perspective. I have a suspicion that I like Avenue's amenity level better than Catalyst's though.

I believe they will be holding around 55-60% of units in total. And how many people have been laid off/let go at Centro? I don't recognize any of the people that call me or that are in the office anymore. What happened to the two girls who have been the sales associates for the project for the past 3 years?

Camden is my bet. Totally out of the blue, no information behind that. But they are one of the people I'd probably look to partner with here if I had to do a rental on that kind of scale.

I witnessed F&H moving things out of their office at M street the other day... not a good sign they will be around to develop it.

^ I heard Liquid Design was down to just one or two people. I do not know if thats the reason however. Its a shame, I thought they had a talented shop.

Funny you say that... I thought the same exact thing when I was looking at them this morning. Scary.

I thought Novare financed their own projects internally??? Yikes. Also, that stinks about your earnest money deposits, what does the contract say about getting them back? I bet you could get them back, as they were not necessary for construction of the building.

Not yet, however, if you drive by, you'll notice that the temporary c/o's in everyone's windows along Myers and 6th and the side that faces 7th street are gone... I think they are close. The fire marshall doesn't really answer to too many people at all, so he's moving at what he deems to be a diligent and responsible pace, one that most people feel is maddeningly slow, including myself. And the banks must get there appraisers in as well. Slow going, but it continues to move forward.

From what I have heard from a friend who works for Centro, they are waiting until January and then starting another marketing campaign for the complex. This DOES NOT MEAN they will be turning them all into apartments. They will be condos. As for the Row, I heard Centro was approached, not the other way around, as they got into it a little bit more, it seems like it will not work out to sell to the person(s) who approached them about the Row as a whole. I do not know what they will do with it moving forward, however I do know the big retail spot in the Row is sold (not leased) to a seafood restaurant from Maryland. I believe this to be current information.

I say paint it CLEMSON ORANGE... but I may be a bit biased

I believe all 3 buildings are separate entities, with separate HOAs and separate public offering statements. If they were all one legal entity, then I think Monsoon's way out would definitely work. It seems Centro has thought better of the idea or it fell through, because I have heard that the Row selling to an investor idea is no longer on the table.

I now have a closing date. And Centro is now currently almost positive they will not be selling the Row as a whole package. In other words, the Row is still individual condos for sale.

I don't think the market rate apartments will hurt as it is a separate building and will add more life to the block. I believe they are selling the building as a whole because they found someone willing to do it and would love to get these 18 units off their books in one fell swoop. Centro is not in the apartment or rental business and I don't think they are anxious to start. They have found a way to work this into their existing business model. As far as the units being just over 50% full, we'll see what comes of that. I don't doubt the developer will cut prices a little bit to add incentive to buy, but as of right now, they aren't doing it, at least on MLS. I doubt they will cut prices enough to do any serious damage to anyone. They have been working on this for 3 years, he has bills to pay and needs certain prices. Real estate is by nature a long term hold and also has some degree of risk. Buying a first home carries a good deal of stress and worry with it normally and this current economic situation is adding heavily to it.

Facts as I know them as of this morning: -The Row is off the market and being negotiated for sale to one guy for all 18 units, retail excluded, if I had to guess, I'd say market rate apartments. -A little over 50% of the units at the Quad and Ledge are confirmed under contract. They have been signing one to two contracts a week for the whole development, which is amazing considering the current economic realities. -I have no closing date as of today, I think partly because they are avoiding the problems of giving out and changing another closing date to the people who had early walk-throughs, I heard they were under siege from buyers the first time they did this in October. As soon as the fire marshall passes the building on his final inspections, they can began closing. -The HOA dues remain the same as they are per sq foot that you own. So you only pay dues on your condo. On a side note, unc2007lsu, I agree with you, its a nicely done building both inside and out, and a great location for the price. The economy sucks and people have dropped out due to financing, job loss issues, and building time issues. I too was nervous and still get so every now and then when I let a news story or gossip get the better of me. However, I am moving forward and hanging in because I am also buying this as my first home and I think it will be a great place to live and ultimately I think the development will have a really good dynamic about it.

hmmm, i guess they are double panes... Back to the Vue, they are still at it right now. Anyone know what the hollow vertical shaft all by itself is for on the side of the Vue closest to Harris Teeter is for?

THAT IS AWESOME! When do they expect to start scheduling shows?

I was approximating, i have no idea what grade of laminate they used, it varies from 5mm to 12mm in production. Actually, if you qualify, and weren't deemed under duress or mentally incompetent when you signed your contract and it has no escape clause, then the developer can sue you for specific performance of the contract. "No one ever does this" because there was always another person who would buy it. I doubt it would come to that, but you still need a very good reason not to close at all. Palmetto75 is right, your leverage and negotiating power pretty much ceases as soon as you sign your name at closing.

You have 7 days under NC law to cancel a condo contract, after that you are bound by the terms. That being said, if you bought originally, there was a clause that stated after a certain amount of time passed if the condo was not completed and conveyed to you that you could get your earnest money back and move on. I believe it was 30 months from date of contract. This is also my first home that I will own, I am still excited about it. I think over time, as well as right now, that it will be a great place to live. I can't speak to financial gains from the property but I seriously doubt you will get wiped out if you hold it for 2-5 years, its still one of the lower priced developments inside of 277. unc2007lsu, I tried to send you a message but you haven't posted 10 post yet so its not working.

Quarterside is the whole development. The Quad is at the corner of 6th and Myers. The Ledge is at the corner of 7th and McDowell. The Row is along 7th at the corner of 7th and Myers. The floors are not able to be torn, they are not a vinyl (what some people in different part of the country refer to as laminate). The reason they are vunerable to high heels is because they are indented by the point load of the stiletto. This is usually only visible as sun rays shine on floor and you look at it sideways. The floors are not that bad, I doubt if you toured avenue, trademark or courtside that many of you would be able to tell the difference.

anyone snap a picture of it?

Absolutely on transit. If we could effectively connect the surrounding towns and Charlotte with a working transit system (I don't think of the current bus routes as an effective or long term transit option) the entire region would benefit and thrive on the increased economic and social activity that a connected network of ring towns and the city would create. Aside from budget issues, Chicago is my favorite example of this. The transit that connects the city with all of the surrounding suburbs and towns is widely used and contributes to the culture, spirit, and economy of the whole region in my opinion.

True. Lets just make sure we are talking about the same thing. These laminate floors are not vinyl flooring that looks like hardwood, they are a form of MDF (saw dust and glue, see also a certain Swedish furniture manufacturer) with laminated hardwood strips in about 6mm thickness over it. When I bought I was not represented engineered floors personally, so I while I am annoyed that they are laminate, I expected a laminate floor.

I'm not completely unhappy with the flooring, just annoyed that it was laminate. They have preformed what I paid them to do, which was install their builder grade wood floors in the color I requested. They have given no closing dates to my knowledge, I could be out of the loop, but I do not have mine yet. I have complained plenty about a variety of things. Some things were resolved and some things continue to be argued. Buying new construction, in my experience, is a constant negotiation for finish quality and builder/buyer concessions until you sign at the closing table. As for your concerns: 1) Changes are unfortunately part of any construction process, however, if you feel something was misrepresented to you during the sales process, I personally would encourage you to get in contact with your realtor and/or Centro and begin a dialogue to see what a resolution might be. 2) I hear that 20 percent will most likely be vacant at move in, that is 16-17 units, due to unsold and people backing out. I don't think this is entirely a bad thing. More parking, just kidding. Obviously I'd prefer a full building, but I just don't think it will be too bad to have a couple vacant at first.