For those who keep defending or commentary on the actual term hipster - you're not listening to what's going on in PM. To keep everyone happy, I'll pull both themes together! My personal opinion, there are two types of Hipsters - the working class and non-working class Hipsters. I'm cool with people that dress fashionable, hold down jobs, and live within their means. This is what PM needs, for both growth and keeping it's historical values. What PM doesn't need is the non-working Hipster; lives on a coach, doesn't shower, has a non-reliable job, has a running tab at CM and most importantly LIVES OUTSIDE THEIR MEANS IN PM!!! These hipsters will hold growth and redevelopment back in PM.
Rents will continue to grow in and around Charlotte, PM included. To keep rent's low, there has to be more product available in the market (ie apartments). It's referred to as the law of supply and demand. If people continue to move to PM and there isn't more apartments available, rents will drastically increase as the apartments online (in the market) will be heavily sought after. However, I do agree that Morningside Village, which will consist of 401 units located on the backside of Veterans Park, is a bit too much. I wish the city, not the developer, pushed them to create/maintain the PM 'feel.'
For those people that want to 'shed' apartments in PM or stop apartment construction; realize what you're doing - pushing prices up!