Queensbridge Collective - 1 tower, maybe 2

[CLT Development]

9 minutes ago, AirNostrumMAD said:

In fact, I think I tried to be respectful and say it works for you. But you’re more interested in talking about NYC and the entire country. 
 

I have literally no interest in talking about other places. I am usually the person who gives people crap for talking about absolutely irrelevant and unattainable things in other cities. Be serious.

9 minutes ago, AirNostrumMAD said:

I’m not sensitive, I’m just responding to what you said to me. Sometimes I think You respond to my post with wrong information like the below & act surprised when I still dont agree

 

 

In fact, I think I tried to be respectful and say it works for you. But you’re more interested in talking about NYC and the entire country. 

I also said I think this development is great the way it is and probably couldn’t do a better job. The office component provides business diversified business and revenue with the residents at night. 

 

And I will now join the numerous people who have shared to me that they muted you.

Edited December 27, 2023 by CLT Development

[15895]

1 hour ago, CLT Development said:

I have literally no interest in talking about other places. I am usually the person who gives people crap for talking about absolutely irrelevant and unattainable things in other cities. Be serious.

And I will now join the numerous people who have shared to me that they muted you. 

But you were the one who mentioned Brooklyn & “anywhere in the US”. So. I am serious with that. 

& I don’t care who you mute, so. You quoted me. You replied to me. Numerous times. It only seems fitting you be the one to mute me, so. 

Edit: in response to the profanity below,  I did not bring up my personal habits, I did not allude to anywhere else and picked the most basic routine things that already exist in Charlotte in response to your list to me listing off urgent cares and dentist that I don’t consider to be every day errands. You mentioned NY. You quoted me up & down. And Instead of just muting like you said you were, you use profanity (something I don’t do, so you won’t get profanity back in kind from me.) 

 

Edited December 27, 2023 by AirNostrumMAD

[CLT Development]

16 minutes ago, AirNostrumMAD said:

But you were the one who mentioned Brooklyn & “anywhere in the US”. So. I am serious with that. 

& I don’t care who you mute, so. You quoted me. You replied to me. Numerous times. It only seems fitting you be the one to mute me, so. 

 

 

you brought up what you were able to do via transit where you live first, which is not Charlotte, ya dip sh!t. 

Edited December 27, 2023 by CLT Development

[CLT Development]

1 hour ago, AirNostrumMAD said:

But you were the one who mentioned Brooklyn & “anywhere in the US”. So. I am serious with that. 

& I don’t care who you mute, so. You quoted me. You replied to me. Numerous times. It only seems fitting you be the one to mute me, so. 

Edit: in response to the profanity below,  I did not bring up my personal habits, I did not allude to anywhere else and picked the most basic routine things that already exist in Charlotte in response to your list to me listing off urgent cares and dentist that I don’t consider to be every day errands. You mentioned NY. You quoted me up & down. And Instead of just muting like you said you were, you use profanity (something I don’t do, so you won’t get profanity back in kind from me.) 

 

You very wrongly said that people living here would have to use a car "very often" with your example being them having to take an hour round trip to go to the grocery store ( only a 10-minute walk away, but you excluded Whole Foods for some reason). I simply stated a very minimal amount of things, including daily needs like grocery or pharmacy, weekly and monthly needs, and tons of entertainment options all of which could all be easily satisfied on foot.

In response, as some sort of gotcha, you listed a whole ton of weekend activities like shopping that you were able to do on transit, and have since edited. In the present, these items could be done in the rare moment someone living in an urban setting needs a car. If I was going to any of the aforementioned spots I'd probably use my wife's car, or ride transit there and uber back if it wasn't available.

Reducing the 78% of Charlotte households that own TWO cars should be our first priority, which gets 100,000s of cars off the road. 

Edited December 27, 2023 by CLT Development

[gman430]

I own two cars. 

[CLT Development]

17 minutes ago, gman430 said:

I own two cars. 

Which is ur prerogative, but you also don't live here, and I'm not suggesting this is something the entire 321 sq miles of Charlotte will ever adhere to, but if we are to meet climate, mobility and equity goals this will be something that all our most urban neighborhoods will need to strive for.

Edited December 27, 2023 by CLT Development

[RANYC]

36 minutes ago, CLT Development said:

Which is ur prerogative, but you also don't live here, and I'm not suggesting this is something the entire 321 sq miles of Charlotte will ever adhere to, but if we are to meet climate, mobility and equity goals this will be something that all our most urban neighborhoods will need to strive for.

I fully support and agree with these car-reduction goals but feel that in order to make real progress toward this reduction, we need to view Choice riders as their own market segment and craft a strategy to engage and draw them and to also change their perception of transit riding from a means to lift up the down and out and despairing to some other narrative.

Not even sure CATS has the capacity to handle this, but something like a "Critical Mass Bus Ridership" event once or twice a month might be something, borrowing from the current Critical Mass concept for cycling.  Sleek and sexy fleet might also work?  Route report cards might help too, where periodic grades are given to routes based on reliability / lack of "exceptions" during the period.  Decorated buses for the major holidays.  Corporate Sponsorships of entire Routes instead of just flyers on individual buses.  Partner with companies to promote internal affinity groups such as a "Friends of Transit" network to promote and celebrate transit ridership within the company.  Perhaps that's even a way companies can boost their ESG scores.  Just thinking out loud here.

Edited December 27, 2023 by RANYC

[CLT Development]

1 hour ago, RANYC said:

Not even sure CATS has the capacity to handle this, but something like a "Critical Mass Bus Ridership" event once or twice a month might be something, borrowing from the current Critical Mass concept for cycling.  Sleek and sexy fleet might also work?  Route report cards might help too, where periodic grades are given to routes based on reliability / lack of "exceptions" during the period.  Decorated buses for the major holidays.  Corporate Sponsorships of entire Routes instead of just flyers on individual buses.  Partner with companies to promote internal affinity groups such as a "Friends of Transit" network to promote and celebrate transit ridership within the company.  Perhaps that's even a way companies can boost their ESG scores.  Just thinking out loud here.

Theres a lot of great ideas here. 

[DMann]

Going carless can work if you want to make it work, it is that simple.

[QCxpat]

Today 9:10 a.m. - Queensbridge Collective residential tower, 45-stories, height: 596 ft./ 181.6 m.

Edited December 28, 2023 by QCxpat

[JorgiPorgi]

7 hours ago, QCxpat said:

Today 9:10 a.m. - Queensbridge Collective residential tower, 45-stories, height: 596 ft./ 181.6 m.

Does anyone know if this building is actually 596 feet? Seems like it would be closer to 520ish. 

Edited December 29, 2023 by JorgiPorgi

[DJ8hep]

It’s great seeing more building components from the street!

[Richhamleigh, DC]

Charlotte = Amazing.

[Reverie39]

On 12/27/2023 at 2:07 PM, CLT Development said:

Why would they have to drive "very often." Pretty much everything you need is a 5-15 min walk away, this is likely the most walkable part of Charlotte.
• Closest Grocery (Whole Foods) – 9 min walk, could be as close as a 5-7 min walk once the Rail Trail bridge is done.
• Closest Pharmacy (Walgreens on Brooklyn Village) – 10 min walk away, closer to when Rail Trail bridge is done
• Closest Urgent Care (Concentra) – 12 min walk away
• Closest Dentist (Alure Dentistry) – 6 min walk away
• Closest Eye Doctor (CEENTA) – 10 min walk
• Closest Quick Breakfast or Sandwich (Goodwurst)– 3 min away
• Closest Sit Down Breakfast (Yolk)– 4 min away
• Closest Hair Cut, Nails, Massage – 5 min away
• Closest Lunch (Culinary Dropout) – 2 min walk away 
• Closest Dinner (Culinary Dropout) – 2 min walk away
• Closest Coffee (Waterbean) – 4 min away
• Closest Brewery (Wooden Robot & Hopfly) – 7 min walk away
• Closest Wine Bar (Sixty Vines) – 3 min walk away
• Closest Ice Cream Shop (Golden Cow) – 8 min walk away
• Closest Mexican Restaurant (Dos Caminos) – 7 min walk away
• Closest Taco Spot (The Matador) – 6 min walk away
• Closest Ramen Spot ( Futo Buta) – 12 min walk away
• Closest Greek Restaurant (Helena) – 12 min walk away
The list goes on and on and on, and doesn't include the large amount of retail this project will have.

This is quite an impressive list that shows walkability rivaling some of the most urban areas in our country. The goal should now be to extend this along a much larger stretch of the Blue Line, and hopefully eventually the Gold/Silver Lines too. 

I do believe Charlotte is now one of the few places in the Southeast where it is possible to live, work, and play without a car across a corridor of non-negligible size. Much more work is needed obviously, especially improvements to the Blue Line including frequency to make this car-free life convenient.

[carolinaboy]

Looks like the second crane base is set.

[Genesis704]

This is going to go up fast. Pearl district may have some competition in terms of project speed

[SydneyCarton]

I wonder what this will look like in a year.

Also, I hope that excavation starts soon on the Enterprise lot.  It looks terrible in this otherwise great location.

 

Edited January 8 by SydneyCarton

[QCxpat]

Today 8:10 a.m.

Edited January 8 by QCxpat

[carolinaboy]

I'm very excited about the impact this residential tower will have for the skyline. Hopefully the second tower happens and retains some height.

[Hushpuppy321]

On 1/7/2024 at 4:58 PM, SydneyCarton said:

I wonder what this will look like in a year.

Also, I hope that excavation starts soon on the Enterprise lot.  It looks terrible in this otherwise great location.

 

A year from now - this project should have the entirety of the block long Podium (Cast-In-Place) completed with the Residential Tower possibly up to the 10th\11th Floor.  As far as Toping Out (45 Floors) and having the maximum Skyline Impact, my guess is that would occur by late 2025.  If theres a turnaround in Office Demand I would guess that work could begin on that Tower by 1Q\2Q 2026.  

If this is a Steel Framed Tower (and I dont think it is) then Vertical Construction of the Frame would be very quick.

Edited January 11 by Hushpuppy321

[DJ8hep]

2nd crane is going up!

Edited January 10 by DJ8hep

[videtur quam contuor]

https://fred.stlouisfed.org/series/FEDFUNDS

Those who came into the development cycle at or before February, 2022 had a near zero percent interest environment. This project clearly met that limit. Those after are jeopardized by the economic climate.

[Prodev]

59 minutes ago, videtur quam contuor said:

https://fred.stlouisfed.org/series/FEDFUNDS

Those who came into the development cycle at or before February, 2022 had a near zero percent interest environment. This project clearly met that limit. Those after are jeopardized by the economic climate.

Nearly all construction loans are floating rate, so regardless of when they started, they're feeling the effects of the current rate environment. There are rate hedges like rate caps and swaps that limit exposure, but the cost of those are offsetting against the exposure you're capping. There's also a spread above LIBOR or SOFR that you're paying, so developers weren't just getting free money in pre-'22 era. We're seeing budget busts on current projects in mid to late stage development in the range of $1.5-2.5 mil as a result of rates running up and we use forward yield curves to project rates to help forecast what our interest expense will be over the life of the loan.  Clearly those projections didn't see the rate run up that has transpired. 

[videtur quam contuor]

Thank you for this Urban Planet perspective

[BJKM]