SydneycartonII

SouthEnd is amazing. Texas developer’s $22 million deal means more apartments near Lower South End breweries BY GORDON RAGO UPDATED JUNE 17, 2022 2:51 PM Read more at: https://www.charlotteobserver.com/news/business/development/article262622392.html#storylink=cpy Texas developer’s $22 million deal means more apartments near Lower South End breweries A Texas developer closed this week on a $22.1 million land deal in Charlotte’s booming Lower South End with plans to bring hundreds of apartments. Real estate investment firm Embrey, out of San Antonio, purchased 5 acres at the corner of South Boulevard and Scaleybark Road. The company spent $11.1 million on one parcel alone, according to Mecklenburg County property records. Construction is expected to start this month, according to a Thursday news release from the company. The company did not disclose the project cost. Read more at: https://www.charlotteobserver.com/news/business/development/article262622392.html#storylink=cpy

I’m a middle-aged suburban guy who’s out of the loop. Does “crown” mean gay? I thought that was a pretty good name for the building.

While I would have been very happy with variations on the theme of LU 1 (like the WFC in NY), I also like how LH designed the project with all unique buildings.

That’s fantastic. Presumably, since it’s Truist’s own tower, they’ll break ground soon, or will they wait until the whole project is under construction?

I thought that BofA was going to anchor the office tower. Aren’t they a partner here?

Charlotte greenlights Hornets deal to extend team’s lease, build practice facility BY GENNA CONTINO UPDATED JUNE 13, 2022 9:28 PM Charlotte City Council approved a deal Monday night that would renovate the Spectrum Center, build a practice facility for the Charlotte Hornets and extend the NBA team’s lease in the Queen City. In the deal, $215 million would come from the city’s tourism funds and go to the Spectrum Center’s renovations. The remaining $60 million for the NBA team’s practice facility would come from whoever receives naming rights for the creation of a sports and entertainment district around the Spectrum Center. The deal passed by a 10-1 vote… PLANS FOR NEW HORNET FACILITY Early renderings show the new practice facility in a high-rise building. It would include two full basketball courts, expanded locker room space and a health care space. Renderings show the practice facility replacing the existing Charlotte Transportation Center, moving the bus facility underground. These renderings are not set in stone The rest of the tower will be filled with parking and undetermined development on the top floors. There will be a temporary bus station built during the several years of construction on the transit and practice facility building, documents presented to the economic development committee show. Read more at: https://www.charlotteobserver.com/news/local/article262442762.html#storylink=cpy

From the June 13, 2022 edition of the Observer. This is the first photo I’ve seen of the tower from the west. It looks great.

These are really beautiful houses. With the very high-quality, roughly 5ksf homes on smallish plots, this area reminds me of Highland Park in Dallas or Bronxville in NY, though Bronxville’s homes are much older. This is an example of Bronxville.

I’m very pleased with the development in this area. Ten years ago I used to bring my car to the service station on what’s now the Ally site, and the Observer building was so bland and a waste of space. The development might not be perfect, but Charlotte just keeps getting better. Charlotte is a work in progress, but the current status of “the canvas” shows A LOT of promise.

Fintech is critical. Due to its relationship with finance, NYC is a fintech powerhouse, and Amazon, Google, Facebook, etc anchor about ten million of office space just between the three of them. Hopefully, Charlotte can leverage some of that too. Amazon is also the rumored tenant to anchor a new 1,250’ tower that will rise across the street from MSG. I’d like to see something like that in Charlotte, and since Charlotte is a banking powerhouse, the foundation is in place for this to happen.

That’s really impressive. It looks like a shorter version of the new tower that BofA is anchoring on Wacker Drive in Chicago. I think that Riverside developed the one in Chicago. I can’t wait to move back to Charlotte once my kids graduate from East Chapel Hill.

It’s ridiculous that Goldman might build in Dallas. They should focus on the QC. They already have a big operation in SLC, which they should move here too. Charlotte has a much better QoL than Dallas or SLC.

I think that SF’s status as a very significant financial center is based mostly on its massive VC role with respect to all the start-ups. It probably has a lot of hedge funds too.

From the Observer’s June 8th edition: Midwest salad restaurant chain moves headquarters to Charlotte, eyes expansion plans

I believe that it’s based on the assets of banks headquartered in a city.

Charlotte is pretty impressive as a financial center, especially for its size. NYC is in a league of its own world-wide. The NYSE and NASDAQ absolutely crush the markets of every other city. Also, NY has no competition for hedge funds, etc. The unlimited Wall St money is fueling a boom of hyper-expensive condos and supertall office buildings. Yet another was announced today with a hedge fund anchor tenant and with expected rents of $300/sf + on some floors. Anyway, Charlotte is pretty dominant too, which is reflected by all of the money that it’s flush with these days. Every time I visit, I see new huge houses in Meyers Park and South Park and really exotic cars everywhere.

This is going to be really impressive.

City staff on Monday shared a glimpse of a proposed Charlotte Hornets practice facility in uptown. Early renderings show a high-rise building for the NBA team where the existing Charlotte Transportation Center stands today, towering over the Spectrum Center. The images stem from a proposal by the Hornets and city of Charlotte staff last week to make $215 million in Spectrum Center renovations along with a $60 million practice facility that would be paid for by naming rights for a proposed new sports and entertainment district in the surrounding area. Read more at: https://www.charlotteobserver.com/news/business/development/article262221682.html#storylink=cpy

Thanks! You’ve got to love Charlotte! I had to start a new account because I was unable to post on the Charlotte forum for some reason.

This is really amazing. What’s the likelihood that this will start soon and without an anchor tenant?