Will Charlotte Regain Carolinas Lead?

[monsoon]

It may surprise many of you here to know that Myrtle Beach currently holds the title of having the tallest residential tower in the Carolinas with the completion of the 29 story Margate Tower. This building is also the second tallest in South Carlolina.

In the past year Myrtle Beach has removed the restrictions it had on building height and much higher buildings are now possible. Considering that ocean front land there is even more expensive than that in DT Charlotte, will Myrtle Beach end up beating Charlotte in highrise residential construction? (or even highrises in general)

[atlrvr]

I don't think so......not unless the housing market there become a lot more expensive. I don't think relative cheap condos sold can justify an expensive high-rise.....who knows though....I'm sure there is a demand for a true luxury high-rise product that is not yet met........so my final answer is maybe......

[Mr.Marc]

Maybe residential (and that's a big maybe), but as for other highrises MB has to catch up with Charlotte first.

[monsoon]

I don't think so......not unless the housing market there become a lot more expensive. 

<{POST_SNAPBACK}>

It is.

[atlrvr]

Last time I checked....which was maybe two years ago.....you could still buy an oceanfront condo with 2 BRs/2BAs for about $180k-$190k presell in a new tower......

[dubone]

what is the tallest residential tower in, say, miami. for some reason, i have a hard time imagining people living 53 stories up at epicenter or vue in charlotte, let alone on beach. can you imagine how freaky that would be in high winds, especially hurricanes!!!

[UrbanSoutherner]

what is the tallest residential tower in, say, miami.  for some reason, i have a hard time imagining people living 53 stories up at epicenter or vue in charlotte, let alone on beach.  can you imagine how freaky that would be in high winds, especially hurricanes!!!

<{POST_SNAPBACK}>

They are building very tall condo towers around Biscayne Bay in Miami. We are talking 50-60+ stories. Of course, Miami is not immediately on the ocean but a bay.

[dubone]

are any built that high yet? were they able to sell the upper floors easily? do they have balconies on the upper floors?

[monsoon]

Last time I checked....which was maybe two years ago.....you could still buy an oceanfront condo with 2 BRs/2BAs for about $180k-$190k presell in a new tower......

<{POST_SNAPBACK}>

Those are price from 20 years ago in the city of Myrtle Beach. A 2BR unit in the Margate tower lists for $550K.

[Neo]

are any built that high yet?  were they able to sell the upper floors easily?  do they have balconies on the upper floors?

There is a residential high-rise in Chicago that is 58 stories (I think) called River East Center. I believe it's located on Erie. It doesn't have any balconies though. However, the apartment complex where I used to live in Chicago was 52 stories and had balconies all the way up.

[Raintree21]

Am I missing something here or are we already overlooking the Epicentre, at 53 stories??? Last time I checked, 53 stories is a whole lot higher than 29 stories. The question asked was "Will Charlotte regain Carolinas Lead for having the tallest residential tower?" and without a doubt, the question is a resounding YES!

[dubone]

that is, unless the 29 story tower at myrtle has very tall ceilings. ... but we'll see, epicentre could still pull a 200' spire out of their .

[Tayfromcarolina]

Things can only go so far in Myrtle Beach due to the Hurricane Threat. Especially in a residential tower setting and not a hotel...

Liability issues start to increase exponetially with that kind of height.

[Raintree21]

While I'm sure people are moving there every day for retirement or just to get away from things, Myrtle Beach has and always will be a very seasonal tourist attraction. I don't believe that it can sustain a lot of high rise development and major corporate or industry growth.

[dubone]

the retirement market will be HUGE with the boomers, so taht would be enough for all sorts of residential growth. BUT, i still don't think we'll see 50+ in myrtle for all the other reasons people said. Who knows, though.

[dwtnc]

The new code for the "downtown" district of Myrtle was indeed relaxed, but it only allows for approx. 29 stories. Whether you can build higher than that outside the district, I don't know.

Regarding price, trust me Charlotte has to catch up with Myrtle. Current ocean front prices are $400/sq. ft. oceanview, $350 for side or street view if the building doesn't have "shotgun" style units that go all the way through. Anything off the beach is cheaper, but even 3 story walkups are close to $200/ft if they have a golf course or waterway view.

Grande Dunes newest condo tower, on a private beach near the beach club, has units STARTING at $1 million. These units have private elevators into the unit, and are rental restricted.

[skysdalimit]

Yes of course, easily.

[peaceloveunderstanding]

Charlotte will regain it and keep it for all time! I think our current developments are just the tip of the iceberg or maybe I am a little too optimistic.