New Urban Village Near Scaleybark Light Rail Station

[voyager12]

I am glad to see that SP was approved at last night's Council meeting. Per the O a park and a parking will be ready by November. The one vote against expressed concern that the affordable apts are all being concentrated in one section of the development. Assuming that all the buildings will be constructed with quality materials I would hope there would not be a visible difference. I also think interspersing units of every price range, rental and condo would have been a better idea instead of segregating and setting up a stigmatized section of the complex.

[uptownliving]

The one vote against expressed concern that the affordable apts are all being concentrated in one section of the development. Assuming that all the buildings will be constructed with quality materials I would hope there would not be a visible difference. I also think interspersing units of every price range, rental and condo would have been a better idea instead of segregating and setting up a stigmatized section of the complex.

[atlrvr]

If I'm not mistaken, Cherokee is the company that raises/manages a large international real estate investment fund, and Greenhawk is their development subsidiary that specializes in brownfields and TOD. I'm pretty sure its all the same company. Regardless, I really like them. I get the impression that they are one of the companies that likes to do it right, and not just making a dollar.

[ChiefJoJo]

I learned something new about this last night. It is the State of NC that puts out these tax credits for affordable housing and it is their policy that if you put all the units together in one building then you get a 9% tax break. However if you intersperse the affordable housing with the market rate in the same building then you only get a 4.5% tax break. Personally I think it should be the other way around. So the reason that Scaleybark Partners and more specifically the Housing Partnership is putting all 80 units of the affordable housing in one building is to get more bang for their buck. They did state that the affordable housing would be indistingushable from the rest of the market rate units.

I am not sure the reasoning behind this State policy but it does seem to be backwords.

[nowensone]

I learned something new about this last night. It is the State of NC that puts out these tax credits for affordable housing and it is their policy that if you put all the units together in one building then you get a 9% tax break. However if you intersperse the affordable housing with the market rate in the same building then you only get a 4.5% tax break. Personally I think it should be the other way around. So the reason that Scaleybark Partners and more specifically the Housing Partnership is putting all 80 units of the affordable housing in one building is to get more bang for their buck. They did state that the affordable housing would be indistingushable from the rest of the market rate units.

I am not sure the reasoning behind this State policy but it does seem to be backwords.

[atlrvr]

I learned something new about this last night. It is the State of NC that puts out these tax credits for affordable housing and it is their policy that if you put all the units together in one building then you get a 9% tax break. However if you intersperse the affordable housing with the market rate in the same building then you only get a 4.5% tax break. Personally I think it should be the other way around. So the reason that Scaleybark Partners and more specifically the Housing Partnership is putting all 80 units of the affordable housing in one building is to get more bang for their buck. They did state that the affordable housing would be indistingushable from the rest of the market rate units.

I am not sure the reasoning behind this State policy but it does seem to be backwords.

[atlrvr]

EDIT Tax credit law was written in 1985 or 1986 I believe...the first allocations were in 1987. I don't think it was written with segregation in mind, rather the social divide was more pronounced at the times, and people didn't really think about mixed income. The law isn't written to penalize mixed income, rather it just wasn't written with it as a consideration. Also, the issue they were addressing was providing affordable housing, not social engineering.

[uptownliving]

If I'm not mistaken, Cherokee is the company that raises/manages a large international real estate investment fund, and Greenhawk is their development subsidiary that specializes in brownfields and TOD. I'm pretty sure its all the same company. Regardless, I really like them. I get the impression that they are one of the companies that likes to do it right, and not just making a dollar.

[dubone]

Greenhawk is definitely part of Scaleybark Partners, but is Greenhawk a subsidiary of Cherokee? Can anyone confirm this?

[atlrvr]

My post that U/L included in his reply above explains the arrangement.

[New Name]

Forgive me, my South End knowledge is not so up to date, but is this still the working conceptual rendering for the proposed TOD? Or has it been sized down after they resubmitted? Anyone got some specs?I found this rendering in the original 3 proposals link in this post.

[dubone]

This is the original rendering from the group that won council approval. The project has changed, though. This rendering wouldn't match quite right with the plan, but I think they still plan a park like that. I'm also sure some of the architectural concepts will remain in the newly configured buildings.

[Raintree21]

If not, sounds like it might be due to segregation, not really the racial kind but the tax kind. Wouldn't having mixed value units in a multi unit structure restrain the better units from high increases in value because the lesser units effectively hold them back?

[uptownliving]

Next Monday City Council is scheduled to vote and hopefully make this thing official and sign a sales contract with Scaleybark Partners.

While fishing around charmeck.org I came across the Scaleybark Area Design Charette prestentation that was held just last month. It is a product of the city's planning department and it was exciting to see that they are already focusing on the area SOUTH of where this Scaleybark Partners project is going up. There are some nice renderings of what could possibly and hopefully go there. Something else I found interesting is they are looking at realigning a portion of Old Pineville so that it was a One-Way spur off of southbound South Blvd before it crosses the tracks again.

Anywho take a gander at the document...I will warn you it is pretty big...24M...so be prepared to wait a bit while it downloads.

[sfmartin]

This may have come up already - I got tired of looking through the thread - but be looking for a substantial announcement for the east side of South Blvd at the Scaleybark station. You do know who hangs out on that side of the tracks don't you?

[dubone]

That was my theory all along. Sell the land on the west side of the tracks to Scaleybark Partners and not Crosland, as they own so much land on the east side of the tracks, they can focus on that, and get something going there. I'm assuming this scoop is about Crosland.

[uptownliving]

Yeah Crosland aka Merrifield Partners has already been doing some demo work so having an announcement come up soon would not surprise me.

If you go look in that planning document there are some nice renderings of Cherokee's plans for the block SOUTH of the property they are getting from the City. Cherokee currently owns the block with the Subway sandwich shop and the QP tower.

[orulz]

I'm still curious about Crosland's plans. Seems to me that while they own a lot of land in the neighborhood just off South Boulevard accumulated by buying out single-family homes, the only land they own actually fronting South is the shopping center at the corner of Scaleybark & South. Perhaps they have some of the other land (Auto Zone, South 21, the strip mall at Hollis & South, etc) under contract?

[monsoon]

It's interesting that South 21 decided this wast the time to close their restaurant and sell that property. Maybe this is part of your answer.

[uptownliving]

This project continues to move forward. The demolition permits have recently been issued so expect to see the older buildings on this site to be removed very soon. Part of the old Englishmans building will be the only one that remains since it will be a sales center for the new project.

The developer plans to have a linear park constructed on the site by December 1.

[Charlotte_native]

It's interesting that South 21 decided this wast the time to close their restaurant and sell that property. Maybe this is part of your answer.

[Mobuchu]

This project continues to move forward. The demolition permits have recently been issued so expect to see the older buildings on this site to be removed very soon. Part of the old Englishmans building will be the only one that remains since it will be a sales center for the new project.

The developer plans to have a linear park constructed on the site by December 1.

[uptownliving]

Yeah...I was talking about the buildings between Freeland and Clanton that will be demo'd very soon.

I think they will put in a temporary gravel lot in time for the November opening and replace that with a parking deck at a later date. In the agreement with the city they have until 2012 to build the parking deck.

[dubone]

I rode past this area the other day and there seems that Englishmans has either moved or is close to moving. I had hoped that building could be incorporated into the new retail, but I guess the new project is dense enough and includes enough retail so as to be worth removing that old warehouse. A lot of land is already cleared, so I assume that once Englishmans fully moves out, that the building will be removed soon after.

[uptownliving]

The last plan I heard was that they would keep Englishmans and use it as the Sales Center for the condos.