ElricSeven
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Posts posted by ElricSeven
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I believe he's correct. Winning would be your realization event. Of course I'm not a tax attorney, so there might be a special rule or something.
Unless you were wealthy, you'd basically have to take out a mortgage on about 30% of the value to pay the taxes. Or you could just sell it an pocket the difference.
Recall all those doofuses that got free cars from Oprah and then complained about it. It is funny how people will complain about windfalls. I don't think I'll ever understand human nature.
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Oh, and I'm guessing it would be ordinary income. Considered income for your efforts at participating in the contest.
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I bet the IRS will consider the value of the condo income and will nail you for it. Just like any other prize.
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I believe he's correct. Winning would be your realization event. Of course I'm not a tax attorney, so there might be a special rule or something.
Unless you were wealthy, you'd basically have to take out a mortgage on about 30% of the value to pay the taxes. Or you could just sell it an pocket the difference.
Recall all those doofuses that got free cars from Oprah and then complained about it. It is funny how people will complain about windfalls. I don't think I'll ever understand human nature.
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I find this recent graphic interesting. I wonder if this has anything to do with it?
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they're out of their gourd on that one
prices (at least per square foot) have been increasing strongly in the center city
must be the raw price which drops as more small units go on sale, not the price per square foot
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Speculation of strong sales I suppose.....they won't begin actual sales until Sept. 12. I did find out that the developer is holding onto a lot of choice units to presumeably "flip" at completion.
None the less....there has been another floor added.
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The sales lady I talked to did intimate a strong response. However, the response might be more shoppers than anything. I'd be reluctant if I were them to hold back too many units. Might get into a situation like the Park. Just build another building if you think it is that much of a sweet deal.
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My wife and I have set up an appointment as well. I was talking to a civil engineer and he said that one thing to investigate is how much steel will be going into this building. The Tunnel Form concrete structure is a lot stiffer and therefore will sway more. He said that if you were on the top floor in that building to expect it to sway back and forth about 6 ft on a normal day...even more on a windy day. If it were a steel strucuture it would sway much less as those have more give and take.
So it sounds like you make a trade off: you get less noise from your neighbors...but if you are high up then you might get motion sickness all the time.
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Something a lot stiffer should sway less, but be more brittle and likely to plasticly deform (i.e., fail) at lower loads. More "sway" of flex is better if it is indicative of a lower breakpoint, like the flexing of an aluminum airplane's wings. Of course in a building you don't want too much flex or you might slide off the potty at one of your more vulnerable moments.
I'd be interested at what your civil engineering friend says in reply, because my engineering degrees are in a different field.
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A domed stadium? For Minor league or major league?
Either way I hate domes. I would not nver once attend a game if its a dome.
And who was it that started this stupid "big announcement rumor"? I will be sure not to ever take anything this person says again with a grain of salt.
I almost drove from Raleigh to Charlotte today because I was so excited.(thankfully I didnt)
Whoever started this....it was not cool
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Take it easy man, when we're trying to get the skinny on something early we've got to learn to handle the vagaries of availability. Sometimes plans change. The alternative is to not say anything at all until the news is out, in which case this board becomes pretty useless.
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that is exactly it. most americans feel like they are "owed" something just because they were born in america. in asian cultures there is strict work ethic that is engrained in the minds of the people from childhood.
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Then why are the streets littered with homeless in San Francisco that are of asian origin? Did they suddenly forget what was "ingrained" in them as children in Asia?
I don't buy the argument. My guess is that they've got a stronger family support structure with extended families in the same household so older folks and those with mental problems are more likely to receive support and care. Our culture in the U.S. is much more fragmented with nuclear families spread over the entire large continent.
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and "image hosted by angelfire" picture fell out? Or is that a billboard that will cover one side of the building?
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here is an article from today's observer that is equally sparse on details, but continues to reinforce how bullish furman and blvd centro are on downtown population.
http://www.charlotte.com/mld/charlotte/business/12401756.htm
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Where the heck did this quote come from:
"Downtown living will include noise, homelessness and grime."
It sticks out like a sore thumb.
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This is from an article about tomorrows tour by nascar officials:
It doesn't say if the news conference will have any announcements with anything outside the hof.
http://www.news14charlotte.com/content/loc...=100230&SecID=2
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The Doug Smith article is notably sparse on details. Just some comments from Furman and sort of a pie-in-the-sky plan for a domed stadium that would be in second ward. The question is who wants to watch baseball in a domed stadium? Conversely, I don't think people would look kindly on some kind of competition for the Arena.
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Maybe you forget the fact that WWE wrestling is based in NYC and grew to take over every other wrestling franchise in the country including the former CLT based WCW.
I can't speak for the rest of the south but the NHL failed in Raleigh because it wasn't promoted and the NHL is generally in bad decline anyway. You don't grow a sport by closing it down for an entire season.
On the other hand NASCAR is the biggest growing sport in the world right now and demographics wise the average income for a Nascar fan has risen to over $60K/year. With 90 million people in the Northeast, I don't see how Nascar can afford to keep avoiding this market. I think they are much more open to stock car racing than some would believe.
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I'm sure they are, but putting the hall of fame a 150 miles or so north of here to somehow grow the sport more in the Northeast is a mistake. Most of the Northeast won't be driving to Richmond or Charlotte and the experience will be 10x better here because of all the race teams. Instead of a short isolated trip, it becomes a visit to the Mecca of racing with a dozen racing-oriented things to do that would take up a whole week for a visit.
And, again, I don't think the HOF is going to make that many converts. They're pretty boring if you aren't interested in the minutae of the sport learned from years of already watching. All the simulators in the world won't win over as many people as being at the tracking, hearing the noise and seeing the excitement of the race unfolding.
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I guess it depends on the person. The only reason I gave Nascar a chance was because I saw that they were getting a HoF, so I thought ,"hmmm....let me go see what this thing is all about". I know I can only speak for myself though.
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That's all any of us can do, really. But, my observation has been contrary to this, so we'll have to see what happens. Should be interesting wherever it goes.
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I would disagree. It seems more logical that the purpose of the HoF is to validate Nascar as a "true" sport in the eyes of the general population.
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Maybe, but how many more people are going to say, "Wow, they've got a Hall of Fame, maybe this is a real sport and I have to go see a race." I really, really don't see it working out that way. You don't care about the history of the sport until you're very deep into it. You either see it on TV and it is fun to watch, or you go to a race and it is fun to watch, and you become a fan. If you're opinion is that NASCAR is dumb, a hall of fame won't change your mind.
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Then what is Nascar's reason for building the HOF? Certainly it is to increase the appeal of the sport.
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I would see this as the equivalent of growing same-store sales instead of opening a new store. They're trying to squeeze more money out of existing fans. I strongly doubt the HOF will make any converts on its own, or in combination with the sport's other attractions provide much of an increase in the fan base. Newbies will be drawn in by current races that are accessible and well-advertised.
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I don't think I would call Richmond an experimental Nascar market.
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Then wanting to make inroads in the NE isn't the motivation? Regardless, even if it is put there, I still don't think it will make any converts. Die hard fans go to halls-of-fame, it doesn't convert people to becoming fans of a sport.
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Coke Museum, Home Depot Aquarium, Nascar Museum,
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So does this type of constuction mean that the building will not have the massive web of steal beams supporting it like the office buildings commonly do? Just curious.
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Similar to how Courtside is being built, but with concrete as the inner walls. So yes, no beams like I'm guessing the Avenue will have. A lot less expensive with beams.
Sigh, at least Courtside is poured-in-place and half way to tunnel form.
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I forgot to mention, it is also going to be Tunnel Form construction......which is amazing!!!!!!
What that is that all walls dividing the units are poured as solid concrete.....not pillars with aluminum framing between them.......
This means that not only will there be a concrete floor separating units vertically, but there will be a concrete wall separating every unit from the next door neighbors (think very little noise and vibration transer). Additionally, most of the 2 and 3 bedroom units will have the bedroom walls as solid concrete as well.
This type of construction is a HUGE deal, as it is the absolute strongest way to build a high-rise, as well as the quickest, and by far the most expensive. From my limited knowledge of the construction industry, this will also be one of the tallest tunnel form buildings in the world.
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They might as well make the outer walls concrete with bulletproof glass. Would be the world's tallest bomb shelter.
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I was at the Vue's office yesterday and I must say I was blown away.
They are extremely confident that they will sell all 411 units. Also they don't believe they have any competition.
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I'm sure they've been well-trained to exude confidence. Any intimation of uncertainty on their part could result in some pretty significant fear on the part of the buyers and a situation like the Park.
Seems like they do have the most upscale product and it never ceases to amaze me how well luxury sells in the good old U.S. of A.
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Mid 2008 I would assume, but I didn't ask. They (the ambiguous "they"), also promised some ammenities beyond what has been announced that will be unique to the market. The target client is older, in the 40+ range. The bulf of the units will average $400k-$700k in price, though will be quite large, so price per square foot will be competitive.
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I peeked through their display window and noticed some high end stuff that wouldn't normally be available at the other buildings, including one of those infinity tubs. Someone needs to do a condo building where they just provide the raw space and the owner designs and upfits a custom interior. That would be cool.
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I was told this morning that The Vue had received financing and will built assuming the make the requisite presells.....I was also told that construction may start as soon as Feb. if they sell the units quickly.
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When would that put the date of completion?
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Most of the windows are in, up to floor 9. The brick exterior work has also begun at the lower levels of the building. The overall look of the building is slowly starting to take shape.
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I hope it looks nice, I've got a few reservations about that much exposed concrete but I've learned to trust Furman's aesthetic eye.
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sorry guys. pantherville is just plain bad. IMO, of course. please let die this towns' feline fetish. i agree that the "end" moniker is beat - not to mention it shows a deprevity of creativeness....
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How about WeDa?
The Vue
in Charlotte
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I'm 99% sure it is considered to be ordinary income, with the grant of title being the realization event of income equivalent to the market value of the condo. It being real estate doesn't really change the situation. Another way to think of it is that you don't get to deduct the cost of purchasing the condo - it is paid for with after-tax money.
The good news is that you'd be able to deduct the expense of the ticket from the value of the condo.