Dub_Ag
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Posts posted by Dub_Ag
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FYI, Charlotte City Center Partners is looking for a new Director of South End. If anyone here knows of someone interested, or eligible, job description attached.
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Don't expect any imminent construction as Crescent still does not own the City property. They have paid the City of Charlotte over $350K (which is non-refundable and not applied to the purchase price) to delay the closing date on this property for the eighth time. The current closing date is November 13, 2015
They have made the following commitments to the City:
-400 Apartments and 40,000 sq ft of retail space by Nov 1, 2016
-150 hotel rooms and 15,000 square feet of retail space by November 1, 2017
-150 hotel rooms by November 1, 2019.
If the deadlines are not met they come with financial penalties. I really don't see them being able to get the 400 apartments and Whole Foods complete in a years time.
Why would Crescent need to be making such commitments to the City? Is the City funding the project in any way? If not, why would the City have any financial leverage over such delivery commitments?
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Well...
This might have been the Target, two 12-20 floor residential towers and 50k additional retail that was proposed back in 2007.
No, these signs are new. Just put out within the last couple of weeks. Can't find anything about a zoning petition on the County website either.
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There's a "Zoning Decision" sign on the Reynolds Site (between the two office building parking garages off Barclay Downs/Piedmont). Does anyone know what the decision was? I called the city but have not heard back.
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"Northwood Ravin Site @ Stonewall and Caldwell". At least until the next round of bids come in (June 15th).
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Any word on possible upsets coming forth on May 26th?
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Anything of real critical mass will be extremely limited at this site due to access constraints. When NCDOT reconfigured the freeway ramps, they placed restrictions on driveways or access points being added to the sites along Caldwell. Crescent was successful in appealing this restriction, only because their ingress/egress would not back up onto the exit ramp off I-277. However, adding a RI/RO along Caldwell at this Pollack Shores site is very unlikely, due to the restrictions in place and due to the fear that cars pulling into the site would back up into the exit ramp storage. Thus, with only one point of access along Stonewall for the entire site, there's very limited uses that can be built here and density is extremely limited as well.
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The Brevard St Area plan, which encompasses this site, requires that 50% of net ground floor area must be "retail". Unfortunately, the definition of "retail" is open for interpretation (ie hotel lobby, apartment cafe, etc), however, 50% is such a sizeable requirement, there's no doubt that there will be some level of true consumer retail built into this site.
I'd heard Proffitt Dixon was another initial bidder on the site.
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First retail tenant has been signed at Camden Gallery - "Blue Hem". An upscale jean store.
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He's selling West I and retaining West II for future investment purposes.
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Yes. C&W is bringing it to market very soon.
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New retail space coming:
Publix: I've heard that the retail space out front of Publix is going to include a BB&T, cleaners (yawn) and an ABC liquor store (it's about dang time!)
David Furman's office: does anyone have any updates on signed leases for the retail space at his office building on Camden?
Camden Gallery: i've heard rumors of a couple different tenants floating around this space, but no signed leases as of yet. Does anyone else have any insight?
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Is it true that the church is also planning on building apartments, retail and possibly office and/or hotel?
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I was wondering if anyone knows what the final plans will be for the light rail access at the publix / camden southline apartments on south blvd? Specifically, is there going to be a walkway over the light rail to Hawkins St? The Stiles flyer for the shop space still shows a "proposed pedestrian walkway" to the Spectrum South End apartments on Hawkins St but I wanted to know if this was finalized?
http://www.stiles.com/media/com_estateagent/pictures/ea_Shops_at_Southline_Flyer.pdf
Thanks.
Per my resources, there will be no at-grade crossing. There were talks of a fly-over pedestrian bridge, but that was too expensive. Prior discussions of adding a stop here went quiet because most people liked that this was the one stretch where the train could "gather speed". However, I would suspect the conversation for a stop would re-open now that the grocer is coming to fruition.
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^that deal died about 6 months ago
Really? Any word on why?
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Where exactly is this rezoning taking place? i dont see the petition on the CharMeck website.
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IMO, looks better than some of the crap thats been built over the last year (Junction, Silos and Colonial per se).
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What ever happened to this project? It was rumored that Target was one of the tenants:
http://www.bizjournals.com/charlotte/print-edition/2011/02/18/southpark-on-target.html?page=all
That site is currently under contract with a MF developer. Imagine that.
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New mixed-use building proposed for the +/- 1ac parcel on the corner of Camden and Kingston. The description from the meeting request reads "new mixed use bulding, new driveway, street trees, parking deck"
Given the size of the parcel, it has to be podium parked. I'd imagine this will be something like Gateway's project on Catherine, only with ground floor retail. Probably somewhere in the 60-65 unit range based on the parking that will fit. If this materializes, this along with Camden's retail will really activate the pedestrian activity and hopefully spur something down at the food truck lot.
This mixed-use building will not be residential. It is scheduled to be 75,000 sf of office with ground-floor retail. Great new use for South End and further effort towards making Camden Rd the "Stroll District".
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Whoops! First page reads 2415 Dunavant while the rest of the ad reads 2418 Dunavant. Should provide some confusion. Great to continue to see additional uses other than apartments coming into South End.
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Not sure if the moderator is tracking new infill single-family housing projects as well, but there's been a recent announcement of two new David Weekley sites to be redeveloped for townhouses (55 in total between the two sites). They're located right near the Lowes on the south side of Iverson and right behind the brand new Vet clinic at Ideal Way and South.
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Fountains Southend has been sold to Trade Street Residential for $34 million ($163,500 per unit).
The press release says Fountains is currently 96% occupied.
http://online.wsj.com/article/PR-CO-20130925-910236.html
That seems like a pretty good price, does anyone remember how much they put into it?
If I recall, there was an old CBJ that quoted Profitt-Dixon as saying it cost $26.2M to build ($125k/unit). They bought the land for $1.6M (dirt cheap, no pun intended) so they no doubt made a nice little spread with sale.
I also heard a rumor that PD offered Trade Street $1m to walk away from the deal. This was a pre-sale (meaning the price was agreed to a long time ago) and PD was leaving money on the table. Junction 1504 is on the market and is expected to trade for at least $205/unit. That makes Post purchase look like a steal!
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Sure you can use the neighborhood as your courtyard or amenity, but renters still want private space. They dont want to have to sun bathe out on the rail trail...
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This deal is huge with remarkably small courtyards/amenity spaces. That pool is tiny and although i know these are just architecture drawings, but i counted, at most, 18 lounge chairs. If you're going to cram the people in, you gotta at least give them some outdoor space to breathe.
Center City Development Maps
in Charlotte
Posted
Camden closed on Parcel #4 from the City next to their Grandview community. Plans still call for 4-story rental townhomes.