Dilworth Projects (Kenilworth, Morehead, East)

[CLT Development]

4 hours ago, KJHburg said:

this tower looks great on the skyline even if it is away from uptown and rest of the Southend skyline.  I hear more maybe in the works for the E Morehead corridor and of course there is the Pearl so there will be a skyline from South Blvd to Kings Drive.  

Further than Kings, the new Bed Tower is going to be pretty massive.

 

[CLT2014]

The new tower (which looks awesome with lots of natural light for patients in renderings!)  is slated to add 448 patient rooms to the CMC campus. Becker's Hospital Review currently has the CMC campus as the 13th largest hospital in the country when ranked by # of beds (1,059). This new tower would push CMC to #2 at 1,507 beds and just behind Yale Medical Center's massive 1,541 bed count. 

It is also bringing MUCH NEEDED operating room space for the region. Many people wait a long time for procedures simply because Operating Rooms are booked far out.

https://www.beckershospitalreview.com/lists/100-of-the-largest-hospitals-and-health-systems-in-america-2023.html

The greenway updates through that area are a welcome addition as well. Is Advocate Health helping pay for the greenway updates?

Edited December 29, 2023 by CLT2014

[QCxpat]

Today 9:50 a.m. - The Campbell, 12-story apt. bldg. (last photo, see little high-rise on lower left)

Edited December 29, 2023 by QCxpat

[KJHburg]

On 12/14/2023 at 4:56 PM, CLT Development said:

Fallon is doing the exact same thing as Peebles with Brooklyn Village. Locking in a purchase price based on a 2016 land basis (the have not closed), waiting until the market catches up with the site, paying nothing more than due diligence and then closing at 1/3 the value of the land, THEN developing. Its why we need to stop this practice. 

and  today we get this from WFAE twitter

Steve Harrison
@Sharrison_WFAE
Boston-based developer has asked for another 18 month extension to build new office, hotel,  housing; project might not start until 2026

Housing authority demolished low-income senior apartments in 2017. No new housing has been built | WFAE 90.7 - Charlotte's NPR News Source

[DonkeyKong]

29 minutes ago, KJHburg said:

and  today we get this from WFAE twitter

Steve Harrison
@Sharrison_WFAE
Boston-based developer has asked for another 18 month extension to build new office, hotel,  housing; project might not start until 2026

Housing authority demolished low-income senior apartments in 2017. No new housing has been built | WFAE 90.7 - Charlotte's NPR News Source

Hell to the no!  Sell the land and invest the proceeds in affordable housing now.  The longer the city and county allow these properties to be held up in perpituity the less return on their/our investment we are going to get. Housing is only going to get more expensive if we do nothing and this property (and others)  is major missed tax revenue because these are essentially dead assets. 

Edited January 2 by DonkeyKong

[RANYC]

8 hours ago, KJHburg said:

and  today we get this from WFAE twitter

Steve Harrison
@Sharrison_WFAE
Boston-based developer has asked for another 18 month extension to build new office, hotel,  housing; project might not start until 2026

Housing authority demolished low-income senior apartments in 2017. No new housing has been built | WFAE 90.7 - Charlotte's NPR News Source

Developer makes suckers out of city officials who make suckers out of taxpayers

Edited January 3 by RANYC

[Reverie39]

On 12/28/2023 at 4:16 PM, QCxpat said:

 

 

This is such a metropolitan picture. Got the density surrounding a major freeway but plenty of bridges, one of which has a rapid transit train on it, and sidewalks which include pedestrians and a biker. Many American cities would kill to have a neighborhood like this.

[davidclt]

On 12/29/2023 at 2:17 PM, QCxpat said:

Today 9:50 a.m. - The Campbell, 12-story apt. bldg. (last photo, see little high-rise on lower left)

From yesterday at The Campbell.

[SydneyCarton]

When I was on East Boulevard yesterday, it appeared that this site was getting ready for development.  Is it, and if so, has it been disclosed what will rise here.

 

 

[videtur quam contuor]

I was at Dilworth Drug last Tuesday and the fencing contractor was on site with this much completed. Likely finished Wednesday or Thursday.

 

sakrete secured, about 5-6 feet high.

[CTiger]

11 minutes ago, videtur quam contuor said:

This counts as both foundation work and vertical construction, right?

[QCxpat]

Today 9:15 a.m.

Edited January 8 by QCxpat

[QCxpat]

Today 10:00 a.m. - The Campbell, 12-story residential tower, 117 units, Axiom Architecture (last photo, see small tower on the left)

Edited January 12 by QCxpat

[DJ8hep]

Tried some different angles today!

[QCxpat]

Today 8:35 a.m. - Radius Dilworth Overlook, 26-story apt. tower, height: 345 ft. / 105.1 m.

Edited January 23 by QCxpat

[videtur quam contuor]

I *hope* these neighboring buildings, Radius and the senior living tower,  with Dilworth location, new style and amenities will tease some existing homeowners out of their current homes and begin a swap for new residents. The stock of Dilworth homes peaked long ago so this might be the thing to begin a generation change. 

Anyone have an idea of the origin of residents in the several luxury and ultra luxury condos completed and near completion in Myers Park? 

[CLT Development]

4 hours ago, videtur quam contuor said:

I *hope* these neighboring buildings, Radius and the senior living tower,  with Dilworth location, new style and amenities will tease some existing homeowners out of their current homes and begin a swap for new residents. The stock of Dilworth homes peaked long ago so this might be the thing to begin a generation change. 

Anyone have an idea of the origin of residents in the several luxury and ultra luxury condos completed and near completion in Myers Park? 

My parents went from Myers Park, to Blowing Rock, and then looked at a place at the Senior Living Tower recently and dear lord was it expensive, like $10,000 a month for a 800 sq foot one bedroom with no care included.

[videtur quam contuor]

Barclay at SouthPark (senior community) has a two bedroom unit, decent size, well more than 800 sq ft, ~7200/month and incudes some meals, annual lease, option for care wing at higher cost. This was from Jan., 2023. No entry fee.

Edited January 23 by videtur quam contuor

[CLT Development]

3 minutes ago, videtur quam contuor said:

Barclay at SouthPark (senior community) has a two bedroom unit, decent size, well more than 800 sq ft, ~7200/month and incudes some meals, annual lease, option for care wing at higher cost. This was from Jan., 2023. No entry fee.

They don't want to deal with SouthPark traffic lol

[go_vertical]

It is quite infuriating how expensive senior and assisted living has become.  It does not need to be this way.  Just another example of how the Vanguards and Blackrocks out there are squeezing our society dry.

[videtur quam contuor]

From my experience shopping the market, and this is well off the topic, but here goes:

Southminster admission director quoted two years ago that net assets should be at least triple the entry fee meaning 900k- millions+ depending on size of unit. A choice to take return of entry fee directed to estate of resident(s) raises the amount. 50% return to estate raises entry fee 40% and 90% return raises entry fee 100% (double).* No interest paid on entry fee during residence if estate directed is chosen.

Monthly fee for services, (some) meals, transportation, amenities and so on is proportional to unit size and number of residents per unit. For example, 1270 s. ft. two bedroom unit for two persons, is 7000$ month. This fee has increased ~9000$ total over the past five years for this size unit. Other sizes vary. This fee is independent of age of residents.

Sharon South Park, formerly Sharon Towers, recommends net assets of 1 million$ per bedroom of unit. This figure has variance and is to recommend a generous cushion for the new residents. Cost for entry fee is more variable there as it is an older property and newest units are similar in price to Southminster, perhaps lower by a marginal amount, and older original units are smaller and a fair bit less expensive than Southminster. There is a wider range of size. Monthly fee is comparable and proportional. Sharon was originally a Presbyterian supported facility but there is no advantage now with one exception. If a resident enters as a member of the Presbyterian Church and encounters financial hardship at a later time that membership takes one to the top of the endowment list for assistance. Sharon South Park was rebranded 2 years ago or so from Sharon Towers as the Towers are now a minor part of the campus.

Aldersgate is the oldest and largest, more units, more options, and cost is a bit more difficult to compare directly but not much out of line from the others. Aldersgate has had and continues to have some financial issues. 

There are private commercial providers in the county and I visited one. The legal arrangement for entry of new residents was different and did not interest me. The campus size and location was also less attractive. Costs comparable. We were most interested in non-profit communities. 

*this zero, 50, 90 option is uniform to communities (which offer any return to the estate) in NC as far as I can tell. Other states are different. Continuing care communities are governed, in part, by the Department of Insurance of N. C. These entry fees are considered an insurance product. 

[Windsurfer]

1 hour ago, videtur quam contuor said:

From my experience shopping the market, and this is well off the topic, but here goes:

Southminster admission director quoted two years ago that net assets should be at least triple the entry fee meaning 900k- millions+ depending on size of unit. A choice to take return of entry fee directed to estate of resident(s) raises the amount. 50% return to estate raises entry fee 40% and 90% return raises entry fee 100% (double).* No interest paid on entry fee during residence if estate directed is chosen.

Monthly fee for services, (some) meals, transportation, amenities and so on is proportional to unit size and number of residents per unit. For example, 1270 s. ft. two bedroom unit for two persons, is 7000$ month. This fee has increased ~9000$ total over the past five years for this size unit. Other sizes vary. This fee is independent of age of residents.

Sharon South Park, formerly Sharon Towers, recommends net assets of 1 million$ per bedroom of unit. This figure has variance and is to recommend a generous cushion for the new residents. Cost for entry fee is more variable there as it is an older property and newest units are similar in price to Southminster, perhaps lower by a marginal amount, and older original units are smaller and a fair bit less expensive than Southminster. There is a wider range of size. Monthly fee is comparable and proportional. Sharon was originally a Presbyterian supported facility but there is no advantage now with one exception. If a resident enters as a member of the Presbyterian Church and encounters financial hardship at a later time that membership takes one to the top of the endowment list for assistance. Sharon South Park was rebranded 2 years ago or so from Sharon Towers as the Towers are now a minor part of the campus.

Aldersgate is the oldest and largest, more units, more options, and cost is a bit more difficult to compare directly but not much out of line from the others. Aldersgate has had and continues to have some financial issues. 

There are private commercial providers in the county and I visited one. The legal arrangement for entry of new residents was different and did not interest me. The campus size and location was also less attractive. Costs comparable. We were most interested in non-profit communities. 

*this zero, 50, 90 option is uniform to communities (which offer any return to the estate) in NC as far as I can tell. Other states are different. Continuing care communities are governed, in part, by the Department of Insurance of N. C. These entry fees are considered an insurance product. 

Just hire a nurse and stay at home. I wish I had done that. Mine went to The Pines. 

[videtur quam contuor]

From my end of the telescope:

This is a decision that can be made several years early but not one day late.

[tozmervo]

5 hours ago, go_vertical said:

It is quite infuriating how expensive senior and assisted living has become.  It does not need to be this way.  Just another example of how the Vanguards and Blackrocks out there are squeezing our society dry.

I can think of no other industry that has become so intolerably awful for both the customers and the staff. Costs have skyrocketed and quality has crumbled. 

[Vitamin_N]

21 hours ago, CLT Development said:

My parents went from Myers Park, to Blowing Rock, and then looked at a place at the Senior Living Tower recently and dear lord was it expensive, like $10,000 a month for a 800 sq foot one bedroom with no care included.

Yep, I went to a presentation for the new tower on Morehead on behalf of my parents and iirc it was anywhere from $6k to maybe $15k per month depending on how big of a unit. The caveat I'd make is that they don't require a massive six-figure fee up front the way some other places do but they make up for it with higher monthly charges.