Fourth Ward Square Condominiums

[wellington]

I think this is an improvement.....they were at 41% last fall.....so while sales haven't been stellar, I think they are getting there....I also don't think they need more than 55%-60% to do the first phase.....Once the new sales center opens (which looks like it will be any day now) they are supposed to start a much more aggessive marketing campaign. I think that this one will make it, though by the time it comes to do the high-rise, there may be saturation in the market. The good thing is they own the land, and like Verna, have all the time in the world.

I believe that they are still under 50% sold (getting very close though). Their units are close to $400 per sq ft.

[ElricSeven]

I believe that they are still under 50% sold (getting very close though). Their units are close to $400 per sq ft.

Looks like $400 per square is the new $300 per square.

[UrbanCharlotte]

Well a little update:

55% of building one is sold.

Will begin reservations for the 2nd midrise in the next month or two.

BofA is doing their financing, and sales have surpassed their pre sale requirements for construction. They'll definitely begin construction in July, but of course nothing is ever a definite (park). Anyway, i'd say construction on the high rises will likely begin in a year.

[dubone]

Hopefully 55% or so means they can begin building building one.

I think Citidan will be important for keeping positive development momentum in Fourth Ward, which is otherwise full of terrible looking 1980s condos/apartments. Getting Citidan done will hopefully create the right environment for getting Arbors and hopefully Springfield redeveloped with higher quality and higher density development.

Springfield would be tough as it is a condominium complex, but it seems to me that there has got to be some way to do it. Maybe not.

[UrbanCharlotte]

Yes, they are getting ready for construction in july. They're trying to get all the pre-construction done asap so they can start. That's what I heard.

[Rickydavisfan21]

so..... the website for the citidan unless it changed without my knowledge no longer works. What is the website? I had

http://www.thecitidan.com as my site

and I also tried citidanliving.com and neither of them worked, did I miss something, or did this plan go to the graveyard?

EDIT: spelled it wrong :-(

http://www.citadinliving.com my bad

So I guess since I bumped it I might as well redeem myself, has anyone heard anything about this project, because i had completely forgotten about it until today

[monsoon]

The last update on their website in the news category was in October 2005 where they claim to have gotten rezoning approval. Nothing after that. Maybe this project was sundered by the announcement of all the tower projects in the last 6 months. There have been several lowrise projects in the center city discussed here that have gotten quiet.

[dubone]

I'm sure they have slowed down in sales, but given that this project is phased, I don't think they are going to have too much trouble. I just think they should do a major push to get the first one built, as I think that will give it the momentum to help sell others.

From reports on here that aren't that old, they are getting pretty close.

[UrbanCharlotte]

If July is close, yes.

[turbocraig]

I'd think that after this week's sales rush on 210 Trade, that any downtown developer would get a clue and realize that as long as you've stuck a shovel in the ground and prospective buyers can mark a big X on their calenders as to when a project will be done, then they'll have nothing but success. Like Rickydavisfan, I was growing skeptical about the pool of buyers for all these highrises. It appears that people just want to see progress before committing to something, and who can blame them? Maybe over the coming weeks, we'll see 210 Trade's lessons learned. It worked for Avenue, 210 Trade and Furman's projects. What's so hard to understand here?

[dubone]

If July is close, yes.

So is the word still that construction on Phase I will be July, then? I guess every time there is a quiet period (a month and a half with no posts always makes it seem like a quiet period to me), I start to wonder if things are still happening as expected. But I really hope this project happens. I think uptown really needs redevelopment of many of the lowrise 1980s apartments in Fourth Ward.

[kpryde4u]

So is the word still that construction on Phase I will be July, then? I guess every time there is a quiet period (a month and a half with no posts always makes it seem like a quiet period to me), I start to wonder if things are still happening as expected. But I really hope this project happens. I think uptown really needs redevelopment of many of the lowrise 1980s apartments in Fourth Ward.

Oh, yes I agree... I'm sick of seeing lowrise 1980's apartments everytime I'm driving down N. Graham Street, does take away from the "city" vibe. we definitely need those highrise Condos... THANK GOD! for Citadin, for making 4th ward look more exciting!!

[kpryde4u]

isn't the development called:"Citadin" rather than "Citidan"

[fenster]

Yes, Citadin is correct. Any updates on this project? I heard ground breaking has been postphoned until the end of 2007 and the first tenant could be Spring 2008.

[fenster]

Yes, Citadin is correct. Any updates on this project? I heard ground breaking has been postphoned until the end of 2007 and the first tenant could be Spring 2008.

Sorry, I actually heard ground breaking was scheduled for the end of 2006, not 2007.

[Charlotte_native]

Sorry, I actually heard ground breaking was scheduled for the end of 2006, not 2007.

I guess we keep asking the same thing, anyone currently know much about this project? Are they selling well? Will they begin in '07? Have they vacated any of the apartment buildings?

I hope this one doesn't fall through, this will really help Graham Street...

[dubone]

I'm really rooting for this one, too. Graham street looks pretty bad north of 7th.

[moving uptown]

my wife and i looked at these condos and honestly for the location they were just too expensive. i would much rather be living in avenue, trademark, 210 all for the same price or less

[atlrvr]

The Citadin has filed for a Site Plan Amendment to their rezoning, to allow the mid-rise buildings to be upto 160 feet (they are approved to 120 feet currently) The detailed elevation shows a height of 137.5', so it appears they need this variation to move forward. We can hope this is the cause of the delay, and that they will start once they recieved the SPA, though that won't be approved until January.

Edit. It also appears they've added an extra floor, as there are now 11 floors in the first building.

[dubone]

That is quite interesting, and actually really exciting. I wonder if they have decided that it is less expensive, and more lucrative to heighten the phase I building, and delay the phase II building. They can get more money for the upper floors than the no-skyline-view lower floors of the second building.

I was somewhat hopeing for the DC/Euro/Gateway height along Graham, I'm not opposed to taller buildings, so I'm happy with it.

I'm somewhat thinking (and have for a little while) that the taller buildings are either cancelled or very much on the back burner.

[atlrvr]

Update - Besides the rezoning....the developer just applied for the building permit today.

[dubone]

http://www.charmeck.org/Departments/Planni...ns/2006-156.htm

It looks like they are also asking for rezoning to allow up to 320' for the back towers. So it seems they are still pursuing their plans for those.

The rezoning siteplan still has it at 11 stories, so I'm not sure what the need is for 160', but maybe they just want the option to go taller.

[Charlotte_native]

http://www.charmeck.org/Departments/Planni...ns/2006-156.htm

It looks like they are also asking for rezoning to allow up to 320' for the back towers. So it seems they are still pursuing their plans for those.

The rezoning siteplan still has it at 11 stories, so I'm not sure what the need is for 160', but maybe they just want the option to go taller.

Taller is good

[UrbanCharlotte]

I forget, but will this have ground level retail?

[dubone]

Yes, along Graham. It is in the siteplan linked.