Brooklyn Village Redevelopment in 2nd Ward

[RANYC]

I will agree that there is backlash against the UDO but I've said on here before that the UDO is this mandate to densify and yet the city lacks a credible, confidence-inspiring, and TACTICAL transit strategy to move people (including choice riders) from one cluster of density to the next.  Naturally, residents are going to be resistant to a density mandate that doesn't integrate a mobility plan that everyone has signed on to. 

Council-members who didn't vote on the UDO are now in their seats and concerned that suddenly, because of provisions of the UDO, they have less of a role to play in mitigating the impact of density on existing residents through the back-and-forth that takes place during rezoning negotiations.  I'm not saying I agree with folks like Renee Johnson and Victoria Watlington by any stretch, but I also am not ignorant of the fact that they represent a vast and simmering sentiment in this city that's basically gone unaddressed.

Let's not forget the enormously impactful mass rezoning orchestrated by Taiwo that took place in 2019.  This mass-action, which doesn't happen everyday in any city anywhere, basically was a proactive measure to steer density in areas where the city wanted it.  It's doing what it intended and developers have responded.  Mass rezoning of largely vacant or industrial zones is quite a bit different than neighbors seeing the clear-cutting of trees in tracts around the city.  I think it good that the Neighborhood Character Overlay meetings are happening now so that some of these anxieties can get addressed sooner than later.

Edited August 1, 2023 by RANYC

[Prodev]

13 hours ago, RANYC said:

If Walton Plaza is demolished AND vertical construction has begun before 12/31, I will GLADLY buy you a holiday cocktail at Humbug, Dram & Draught, or The Conspiracy.

Of course he got bank financing to acquire 5.7 acres of downtown property in the 5th fastest-growing city in the country adjacent to an emerging medical research village for a mere $10.3 million, way under market value, IMO.  Easy lending decision on such a sweetheart deal.  Still doubtful we actually get timely product, but hey, I'll shout with jubilee if I'm wrong.

You're 100% right that it won't start anytime in the near future, maybe with the exception of demo. Peebles is just buying this cheap and selling it for profit. They had an apartment developer under contract, who I'm told has walked away from the deal so there's little to no chance someone else steps in and gets this started this year. Peebles also had JLL marketing the office pad for sale, which in the current environment will never trade.  This land sold for $41/SF, which was probably fair market value in 2016.  There's ultimately going to be no benefit from there being a "master developer" since it's being sold for parts, so they city should have just sold these pieces off themselves. They would have greatly benefitted financially and there would actually be development under construction by now. The med school paid $181/SF for the ~4.5 acre parcel on the opposite side of 277 for reference...about 4.5x as much per square foot. 

Edited August 1, 2023 by Prodev

[Nathan2]

13 hours ago, CLT Development said:

I can assure you that the folks on city council are anything but Doormats, frustratingly not so in fact. There are serious and organized efforts to prevent development of any kind from happening from a number of council members. Saying otherwise shows you aren't engaged. It's the party that starts with R. Regressive that made it so municipalities in North Carolina have no right to approve or comment based on aesthetics.

That is not entirely true. The state has added regressive limits on design standards, but these regulations only apply to N.C. Residential Code for One and Two-family dwellings. The restrictions do not apply to multi-family housing or non-residential dwellings. If the city is claiming they can't do anything about the aesthetics and design of multi-family and commercial buildings then they are just straight up lying.  https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySection/Chapter_160D/GS_160D-702.pdf

Edited August 1, 2023 by Nathan2

[carolinaboy]

13 hours ago, RANYC said:

That multi-family is butt ugly.  You'd think given taxpayers are conveying the land to him below market value, that perhaps the community could have weighed in on aesthetics.  There's definitely a party that dominates local politics and it begins with a big "D."  Doormat.  But alas, you can't win them all.  I suppose eliminating a big surface lot is a win.

Maybe in an attempt to provide an abundance of "affordable" units, the design/materials are scaled down?

[CLT Development]

18 minutes ago, Nathan2 said:

That is not entirely true. The state has added regressive limits on design standards, but these regulations only apply to N.C. Residential Code for One and Two-family dwellings. The restrictions do not apply to multi-family housing or non-residential dwellings. If the city is claiming they can't do anything about the aesthetics and design of multi-family and commercial buildings then they are just straight up lying.  https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySection/Chapter_160D/GS_160D-702.pdf

Then I'll have to push to have elevations added back to all submissions. Charlotteans have a right to know what the projects being built in their backyards look like.

[Nathan2]

3 minutes ago, CLT Development said:

Then I'll have to push to have elevations added back to all submissions. Charlotteans have a right to know what the projects being built in their backyards look like.

I can't believe the city hasn't required this already. Where I work we have specific design requirements and require elevation submittals for every site plan (that is not a single-family home) in order to ensure better cohesion with the street. 

[SydneyCarton]

https://www.charlotteobserver.com/news/business/development/article277832603.html

 

Edited August 1, 2023 by SydneyCarton

[RANYC]

1 hour ago, carolinaboy said:

Maybe in an attempt to provide an abundance of "affordable" units, the design/materials are scaled down?

Are the city/county serious about real headway on affordable housing in a smart and scalable way, or are they more interested in flexing their muscle to dole out dollars via the Housing Trust Fund to their friends?

Naturally Occurring Affordable Housing: Is this a real solution or merely a way to buy out densification rights and sabotage higher density redevelopment of old, low-rise complexes in the path of urban densification?

Can we consider a Multi-Family Tax Exemption program?  Such a program gives a real “carrot” to developers who actually build at scale and can weave affordable units into their projects.  Bellevue, WA created a 12-year tax exemption program for developers who make at least 20% of their projects affordable units.  The tax incentive has spurred 3295 new units (built or in pipeline) with 659 of them designated for those making <80% of the AMI.  This incentive has the effect of both increasing stock of workforce and lower-income housing, integrating such housing into market rate housing, and also increasing the stock of market rate housing as well to relieve market pressure on prices due to supply constraints.

The program reduces permit fees, eases parking requirements, and markets itself to builders nationwide to demystify the market they’re moving into should they decide to build in Bellevue and leverage the tax exemption.

The program is available anywhere property is zoned for multi-family.  There are high-rise apartments in downtown that are leveraging the program, upgrading land use in the core city and putting a density of much needed residents there.

Seriously this isn’t rocket science.  What the hell are Lyles, Jones, Dodson actually doing?  I hate jumping to conclusions because I’m constantly traveling for work and can’t show up to all the various meetings that get held, but I’m just blown away at how little seems to get done to address complex problems.  Is it the heat here?

Edited August 1, 2023 by RANYC

[CLT Development]

1 hour ago, Nathan2 said:

I can't believe the city hasn't required this already. Where I work we have specific design requirements and require elevation submittals for every site plan (that is not a single-family home) in order to ensure better cohesion with the street. 

It absolutely WAS a requirement. Now it no longer seems to be, virtually no approved plans include elevations any longer. They are only shown at rezoning hearings.

Edited August 1, 2023 by CLT Development

[15895]

58 minutes ago, RANYC said:

Are the city/county serious about real headway on affordable housing in a smart and scalable way, or are they more interested in flexing their muscle to dole out dollars via the Housing Trust Fund to their friends?

Naturally Occurring Affordable Housing: Is this a real solution or merely a way to buy out densification rights and sabotage higher density redevelopment of old, low-rise complexes in the path of urban densification?

Can we consider a Multi-Family Tax Exemption program?  Such a program gives a real “carrot” to developers who actually build at scale and can weave affordable units into their projects.  Bellevue, WA created a 12-year tax exemption program for developers who make at least 20% of their projects affordable units.  The tax incentive has spurred 3295 new units (built or in pipeline) with 659 of them designated for those making <80% of the AMI.  This incentive has the effect of both increasing stock of workforce and lower-income housing, integrating such housing into market rate housing, and also increasing the stock of market rate housing as well to relieve market pressure on prices due to supply constraints.

The program reduces permit fees, eases parking requirements, and markets itself to builders nationwide to demystify the market they’re moving into should they decide to build in Bellevue and leverage the tax exemption.

The program is available anywhere property is zoned for multi-family.  There are high-rise apartments in downtown that are leveraging the program, upgrading land use in the core city and putting a density of much needed residents there.

Seriously this isn’t rocket science.  What the hell are Lyles, Jones, Dodson actually doing?  I hate jumping to conclusions because I’m constantly traveling for work and can’t show up to all the various meetings that get held, but I’m just blown away at how little seems to get done to address complex problems.  Is it the heat here?

Excellently stated. 

[CLT Development]

3 hours ago, RANYC said:

Seriously this isn’t rocket science.  What the hell are Lyles, Jones, Dodson actually doing?  I hate jumping to conclusions because I’m constantly traveling for work and can’t show up to all the various meetings that get held, but I’m just blown away at how little seems to get done to address complex problems.  Is it the heat here?

I'd say Jones and Dodson, because I don't know how much sway the mayor actually has since its a figurehead position. 

[KJHburg]

On 7/31/2023 at 6:26 PM, RANYC said:

 

If Walton Plaza is demolished AND vertical construction has begun before 12/31, I will GLADLY buy you a holiday cocktail at Humbug, Dram & Draught, or The Conspiracy.

 

Can I extend your offer out by 24 months LOL?

From the Charlotte Ledger today:

The developers, Peebles Corp. and Conformity Corp., didn’t reply this week to inquiries from The Ledger about the project’s timing. The county declined to make anyone available, but a spokeswoman answered a series of written questions. “After horizontal improvements are completed, multi-family residential is expected to be the first vertical construction,” the county said. It previously said construction should start this fall.

The responses said the county will “stay involved to assure compliance as the development process progresses. This includes assuring that the affordable housing requirements are met.” It did not provide specifics on the number of units to be initially built.

The county said it has no updated renderings.

The next land sale, the county said, is “expected within 5-6 years, but the Developer has up to 8 years to close on the next phase dependent on market conditions for development.”

>>> Our best hope for this whole area is some other developers come along and offer to buy some of his optioned parcels outright. 

[Matthew.Brendan]

Legacy Union II - Electric Boogaloo

[RANYC]

18 hours ago, KJHburg said:

Can I extend your offer out by 24 months LOL?

From the Charlotte Ledger today:

The developers, Peebles Corp. and Conformity Corp., didn’t reply this week to inquiries from The Ledger about the project’s timing. The county declined to make anyone available, but a spokeswoman answered a series of written questions. “After horizontal improvements are completed, multi-family residential is expected to be the first vertical construction,” the county said. It previously said construction should start this fall.

The responses said the county will “stay involved to assure compliance as the development process progresses. This includes assuring that the affordable housing requirements are met.” It did not provide specifics on the number of units to be initially built.

The county said it has no updated renderings.

The next land sale, the county said, is “expected within 5-6 years, but the Developer has up to 8 years to close on the next phase dependent on market conditions for development.”

>>> Our best hope for this whole area is some other developers come along and offer to buy some of his optioned parcels outright. 

Damn, I was really hoping to be wrong

Edited August 5, 2023 by RANYC

[rancenc]

Article on the upcoming development of the soon to be former Bob Walton Plaza area!

https://commercialobserver.com/2023/08/stonehill-provides-peebles-corp-23-75m-construction-loan-north-carolina-debut/

[CLT Development]

2 hours ago, rancenc said:

Article on the upcoming development of the soon to be former Bob Walton Plaza area!

https://commercialobserver.com/2023/08/stonehill-provides-peebles-corp-23-75m-construction-loan-north-carolina-debut/

"and for-sale condos" hmm

[CharlotteWkndBuzz]

Fencing went up today and workers have been doing stuff in the interior for a few weeks now. Demo is imminent!

[KJHburg]

Biz Journal has a huge article on Brooklyn Village development and Peebles.  I will let others talk about the delays mentioned and so forth to where we are at today.

from the article:

""The property just acquired, at 700 and 800 E. Brooklyn Village Ave., will be divided into six separate parcels. Development there will include multifamily housing with at least 10% priced under market value, 106,800 square feet of retail, 531,600 square feet of office space and a 150-room hotel. Th

e apartment component will include 20,000 square feet of retail, a 420-unit high-rise and a 120-unit low-rise building, and a parking deck. 

“We’re going to spend a good amount of time prepping pad sites and utilities and doing necessary infrastructure work. That’s the first order of business,” Peebles said. “Then the multifamily component is, without a doubt, second order.”

Peebles said a multifamily developer for the first phase has been identified but no deal is in place yet.""

""A planned hotel is expected to have 13 floors and include a conference center, ground-floor retail and green space along Brooklyn Village Avenue. The office component is expected to include a 24-story building and a 16-story building, with the first seven levels of each encompassing ground-floor retail and a parking garage.

“In Phase I, there’s still a planned office component, but we’re moving forward with multifamily first because it’s really a catalyst to any urban environment,” he said. “Having beds nearby is a big driver for ancillary uses.” 

Additional phases will be developed on 5.43 acres at Marshall Park at 303 S. McDowell St., and the 5.91-acre former Charlotte-Mecklenburg Schools Board of Education building at 701 E. Martin Luther King Jr. Blvd. According to the county, the land purchase for Phase II will cost BK Partners $17.5 million, and Phase III will be $5.9 million, as outlined in the development agreement.""

as for the office building I dont see that happening anytime soon especially at that site.  Maybe after the Pearl gets going and leased up maybe there will be some spillover.  Residential and hotel is needed.  

NY developer Don Peebles opens up on Brooklyn Village project - Charlotte Business Journal (bizjournals.com)

""The timeline for the second phase is undetermined. The plan for the overall development, expected to rise over the next decade, calls for: 1,243 residential units, including at least 114 affordable homes; 170 condos; 712,400 square feet of office space; 252,000 square feet of retail space; 3,700 square feet of cultural space; 280 hotel rooms; and an estimated $13.5 million in infrastructure improvements.""

[RANYC]

2 hours ago, KJHburg said:

Biz Journal has a huge article on Brooklyn Village development and Peebles.  I will let others talk about the delays mentioned and so forth to where we are at today.

from the article:

""The property just acquired, at 700 and 800 E. Brooklyn Village Ave., will be divided into six separate parcels. Development there will include multifamily housing with at least 10% priced under market value, 106,800 square feet of retail, 531,600 square feet of office space and a 150-room hotel. Th

e apartment component will include 20,000 square feet of retail, a 420-unit high-rise and a 120-unit low-rise building, and a parking deck. 

“We’re going to spend a good amount of time prepping pad sites and utilities and doing necessary infrastructure work. That’s the first order of business,” Peebles said. “Then the multifamily component is, without a doubt, second order.”

Peebles said a multifamily developer for the first phase has been identified but no deal is in place yet.""

""A planned hotel is expected to have 13 floors and include a conference center, ground-floor retail and green space along Brooklyn Village Avenue. The office component is expected to include a 24-story building and a 16-story building, with the first seven levels of each encompassing ground-floor retail and a parking garage.

“In Phase I, there’s still a planned office component, but we’re moving forward with multifamily first because it’s really a catalyst to any urban environment,” he said. “Having beds nearby is a big driver for ancillary uses.” 

Additional phases will be developed on 5.43 acres at Marshall Park at 303 S. McDowell St., and the 5.91-acre former Charlotte-Mecklenburg Schools Board of Education building at 701 E. Martin Luther King Jr. Blvd. According to the county, the land purchase for Phase II will cost BK Partners $17.5 million, and Phase III will be $5.9 million, as outlined in the development agreement.""

as for the office building I dont see that happening anytime soon especially at that site.  Maybe after the Pearl gets going and leased up maybe there will be some spillover.  Residential and hotel is needed.  

NY developer Don Peebles opens up on Brooklyn Village project - Charlotte Business Journal (bizjournals.com)

""The timeline for the second phase is undetermined. The plan for the overall development, expected to rise over the next decade, calls for: 1,243 residential units, including at least 114 affordable homes; 170 condos; 712,400 square feet of office space; 252,000 square feet of retail space; 3,700 square feet of cultural space; 280 hotel rooms; and an estimated $13.5 million in infrastructure improvements.""

When I opened my bizjournals page today, I saw headlines for a First Ward Tech Hub now backed by Hugh McColl and incorporating UNC Charlotte resources, and the Peebles project for 2nd ward.  I proceeded to read the First Ward Tech Hub story.  

Edited August 18, 2023 by RANYC

[J-Rob]

3 hours ago, KJHburg said:

 

“We’re going to spend a good amount of time prepping pad sites and utilities and doing necessary infrastructure work. That’s the first order of business,” Peebles said. “Then the multifamily component is, without a doubt, second order.”

 

I'll be honest, the only thing I could think about after reading that article was "a good amount of time." While there is an extent to which that is inevitable, I also read it as an excuse for however slow development occurs.  

Edited August 18, 2023 by J-Rob

[Blue_Devil]

1 hour ago, J-Rob said:

I'll be honest, the only thing I could think about after reading that article was "a good amount of time." While there is an extent to which that is inevitable, I also read it as an excuse for however slow development occurs.  

You’re not wrong, but if they are tearing down doing utilities and doing a concrete pad we are going to be seeing a lot of investment in the site. Have to think they are serious, even if slow, if they are putting in the investment. So progress is good. 

[Firejudyrose]

DH Griffin is on the scene, here's one last look before we say goodbye (or more like good riddance).

[KJHburg]

well DH Griffin is the largest demolition firm in the Carolinas so that is a good sign. 

[Desert Power]

Have always liked the look of that building

[rumphy]

I’m no expert, but why not target buildings like this for residential conversion? It’s small in scale, (was) public owned, sandwiched between two multi family projects. This particular parcel has plenty of developable space to help connect with BKV proper.
 

Seems like a step or two above the NOAH (Naturally Occurring Affordable Housing, sp?) concept with hotels/extended stays.