SmellyCat

With an August close estimated Sorry I couldn't resist, this space seems cursed.

Yes I sorta broke this on Dec 14th in this same thread, but no one seemed to notice. Story of my life. But it's definitely worth mentioning again as Pisces is the best sushi place in Charlotte (along with Yama).

Couldn't agree with you more. The parking is a nightmare, I literally have waited 10 mins inside that parking garage just trying to get to an upper level. I have no idea why people insist on a) parking on the ground floor and will circle around and/or drive slowly until they get a space and b) people ghetto park (probably not politically correct, but that's what peeps call it down here) - that is back in to a space, which causes further traffic delays. It's gotten to the point where I will actually park across the street in the Target ground floor garage and then make the 5 minute walk back over, cause I also know getting OUT of the garage will be equally nightmarish! Poor urban planning aside, I doubt anyone imagined there would be the crowds there we are seeing now. The restaurant selection is excellent with a really nice mix. I eat there probably three times a week at least.

I hear you. I'm hoping patience pays off and it's done correctly - "build it and they will come" has proven not such a great strategy. And look at what happens when things built when the market isn't so hot - they get value engineered and disappoint, like the Vue.

Pisces is going to be expanding into the unused space between it and Vivace's.

Federal judge ruling on the Vue that could have far reaching negative effects for the future of high rise condo projects in N.C..... http://cltdevelopment.blogspot.com/2011/11/vue-buyers-win-deposit-back-in-ruling.html#storylink=misearch

adjacent to UNCC building, on the same square block where the UNCC building sits. Nothing across the street yet, when that begins I know it means the park is finally starting up. There is a First Ward meeting at 7pm tomorrow evening, maybe we'll hear more then. I'm planning on going.

I wish them luck with it. I can't imagine who on earth would finance this. Wall Street has all but shut down commercial mortgage lending and I doubt a life insurance company would touch a fairly speculative project like this. $100mm+ loans don't grow on trees anymore like they did in 2006-07...

I hear you about the value engineering. Just look what it did to The Vue - gosh that would have been such an incredible addition to Fourth Ward had it been done according to the original plans. Anyway, saw some bulldozing activity around the UNCC building site adjacent to 8th Street the last few days . Anyone aware of what's going on there?

You serious? Wow, it's probably one of my favorite buildings in Charlotte, let alone anywhere. I guess one man's trash really is another's treasure.

Einstein Bagels opened in the lobby a couple of weeks ago (it's open during weekdays, but closed on weekends). As did the UNCC bookstore/gift shop. I went inside the lobby, it's a really sweet building. Feels a little odd though, with so little foot traffic around the building right now. However, hopefully that will change. There is also a website just for the UNCC "Center City" campus: http://centercity.uncc.edu

And now it appears groundbreaking on the park has been pushed back yet again, to 1Q12 per this excerpt from an O article on the UNCC building in First Ward: "Daniel Levine of Levine Properties said plans for his mixed-use development have been slowed by the economy. The project is a partnership with the city and Mecklenburg County. Levine hopes plans will be finalized within six weeks, and that work on the park and other parts of the project will begin in the first quarter of 2012. To build the $11 million park, about 48,000 cubic yards of dirt will be trucked in to raise the area between the UNCC building and Seventh Street by 8 feet, Levine said. Plans call for Levine to build the park and turn it over to the county for cash and a land swap." I guess we'll know more in mid-Sept....

I think the prices need to drop more. Not enough of a risk premium is built into the price. For someone to take a leap of faith on a building that has 10 occupied units requires more attractive pricing because at the levels they are offering, there is still likely more downside than upside. Not to mention that I still don't know many banks amenable to offering mortgages on condo towers that are 5% full, so a buyer would likely have to come with lots of cash in hand.

I wonder if they'll also demolish the building at the corner of Kenilworth and Morehead. I'm not positive it's vacant, but it sure looks like it is. If it's not, it appears to be a state of disrepair.

Not surprising given whom the news down here is probably catering too. I assume it's many of the same conservative idiots who bash everything in existence on the charlotteobserver comments section.