Portman SouthEnd – Hawkins btw Ashton and Sycamore.

[KJHburg]

drive by today and some corporate neighbors of the new Portman tower.  #Southendrising.   drove by the office even though I am not working. 

[Hushpuppy321]

The powers that be should probably move this Project to the ‘Under Construction’ column on Wikipedia.  

I like how the Charlotte Page on Wiki only mentions building projects that are at least 200’ Tall or Taller (gotta have standards).  Other cities (Nashville) have a lot of shorter / less tall projects listed on their Wiki Page.

Edited December 31, 2019 by Hushpuppy321

[KJHburg]

This area looks very different now and wait 2 years how it will change with the new huge building there.   With this towers food hall and Sycamore Brewing it will be a hit and should lease very well. 

[KJHburg]

Hard to move mud but progress on this site.   This is a great project though I am still not convince on the traffic flows in this area.  

[JHart]

Is there a GC announced for this project yet?

[KJHburg]

Lets not forget about this one.  General contractor will be DPR evidently.  Today the site all this rain is delaying site work I am sure.  Hard to move massive amounts of wet dirt 

https://www.dpr.com/projects/2151-hawkins-street-building

#SouthendRising 

[KJHburg]

walk by today and contractors present.

 

[QCxpat]

Today @ 11:40 a.m.

 

Edited March 4, 2020 by QCxpat

[CLTProductions]

They got their F/F permit. Solid 

[KJHburg]

Site work today the 4th  office tower under construction right now  in Southend  (Lowes, the Square, Vantage Southend) and this the Portman Hawkins tower. 

[QCxpat]

Today @ 3:25 p.m.

[navigator319]

This is one I think is casualty of the current mass hysteria. Hopefully only a delay, but any delays at this point can’t see being any shorter than 8 months.

[KJHburg]

44 minutes ago, navigator319 said:

This is one I think is casualty of the current mass hysteria. Hopefully only a delay, but any delays at this point can’t see being any shorter than 8 months.

again it will be 18-24 months to complete I would think and they said from the get-go they would go spec.  It is projects that have not broken ground that could be risk but it all depends when this passes and how quick the economy rebounds. 

[Guest]

Does anyone know if that Atherton Mill deck will be screened? 

[Guest]

Just now, MothBeast said:

Does anyone know if that Atherton Mill deck will be screened? 

what you see, seemingly, is what you get.

[steve_o]

Quite a bit of activity on site today:

[j-man]

20 hours ago, Tyree Ricardo said:

what you see, seemingly, is what you get.

Unfortunately 

[CriticalT]

Happy St Patrick’s Day

[Hushpuppy321]

Finally - that CFA Drill means that Foundation Construction is now commencing!

[KJHburg]

Big financing news on this building.  This is the same Chinese investor on 615 South College Regions building.

""Atlanta-based Portman Holdings has secured a $95.6 million senior construction loan from PCCP for 2151 Hawkins, a 16-story, 280,000-square-foot office building on Hawkins Street. The tower, which broke ground earlier this year, is rising next to Sycamore Brewing.  Portman is developing 2151 Hawkins with Washington, D.C.-based National Real Estate Advisors.  This is the fourth investment that PCCP, a real estate finance and investment management firm, has made in a Portman project. PCCP was also a lender at Portman's 615 South College project — now Regions 615 — in uptown.   Travis Garland, director of leasing at Portman Holdings, said no office tenants have signed on at the Hawkins Street tower yet. The building is expected to deliver in September 2021.""

subscriber article

https://www.bizjournals.com/charlotte/news/2020/03/19/high-profile-office-tower-in-south-end-secures-95.html

#CharlotteStillRising

[KJHburg]

the one thing about this is that PCCP which is a Chinese backed development fund must believe Charlotte and the US will survive and thrive again otherwise they wouldn't loan $95 Million plus on it. 

[KJHburg]

drive by today and looks like foundation work and pilings being done.  By the time this is done the economy should be back in full force and other buildings might be stalled thus this tower will lease fairly quickly as it nears completion.    That is my prediction and see my previous post about the financing.  

[wadesboro2]

the one thing about this is that PCCP which is a Chinese backed development fund must believe Charlotte and the US will survive and thrive again otherwise they wouldn't loan $95 Million plus on it. 

I think you’re remembering 615 S College - China Orient Asset Management and China Summit Capital were Portman’s equity partners and PCCP provided the construction loan. PCCP is a fund manager, they may have Chinese LPs but they are not Chinese-backed per say.


Sent from my iPhone using Tapatalk

[KJHburg]

9 hours ago, wadesboro2 said:

I think you’re remembering 615 S College - China Orient Asset Management and China Summit Capital were Portman’s equity partners and PCCP provided the construction loan. PCCP is a fund manager, they may have Chinese LPs but they are not Chinese-backed per say.


Sent from my iPhone using Tapatalk

I think you are right PCCP is different.   They were involved with 615 Regions but I was thinking of this company from the Biz Journal when Portman sold Regions building.

Portman sold 615 South College with its financial partners, China Orient Summit Capital Co. and PCCP. 615 South College was 84% leased at the time of the sale, according to CBRE.

[gman430]