Ally Charlotte Center (f/k/a Tryon Place) - 26 floors - 427'

[CLTProductions]

Unless maybe it WILL stick around longer than we all anticipate. Why lipstick this old thing up for "small TED-style talks" only to demo in two months? I think this is being done because they still need to drum up interest in the project or property. I really hope I'm wrong here, but I have a strange feeling this won't see a summer start as is planned. There haven't been any significant job announcements in a while and I highly doubt a building like this will or can go up as spec.

I am definitely inclined to agree. Portman will start as spec, and start this summer. But, call me pessimistic, but I don't even see this starting in 2015. I think they have complete focus on Crescent Whole Foods.

[Guest]

I am definitely inclined to agree. Portman will start as spec, and start this summer. But, call me pessimistic, but I don't even see this starting in 2015. I think they have complete focus on Crescent Whole Foods.

I disagree 100%. Crescent has a crap ton of money behind this project and will start tearing up the parking lot, demoing buildings and relocating utilities by Labor Day. They aren't far from Preleasing this building enough so that its no longer a spec tower. They have a lot of work to do just to keep up with Portman. Mark my words, 2 of the 3 Crescent projects will be well under way by the 4th Quarter 2015, with the 3rd Crescent (Noda), not far behind, breaking ground in 1st Quarter 2016.

[CLTProductions]

I disagree 100%. Crescent has a crap ton of money behind this project and will start tearing up the parking lot, demoing buildings and relocating utilities by Labor Day. They aren't far from Preleasing this building enough so that its no longer a spec tower. They have a lot of work to do just to keep up with Portman. Mark my words, 2 of the 3 Crescent projects will be well under way by the 4th Quarter 2015, with the 3rd Crescent (Noda), not far behind, breaking ground in 1st Quarter 2016.

If you say so  "In RDF We Trust"

Edited April 15, 2015 by Jayvee

[go_vertical]

I think Crescent was a little overly optimistic in thinking they could get these two major projects started at nearly identical times. For some reason it appears like Charlotte is struggling in luring companies to fill new office construction (except for Ballantyne and to a lesser degree Southpark). I worry that they are having a harder time than they expected in signing tenants for both the office and retail components. Personally I wouldn't be shocked to hear that this is either delayed six months to a year or it gets chopped up beyond recognition in order to start sooner.

Edit: I agree that they have things in order on their end and I'm not concerned about their capital on hand. Are we confident there is interest here from the market though? That is where I think the problem may lie.

Edited April 15, 2015 by go_vertical

[Guest]

If you say so  "In RDF We Trust"

There are projects I think will miss out on this upswing. 

• Spring Hill Suites by Marriott

• The projects announced recently in Gateway Village Area (includes Chris Branches project)

• Anything inside the loop on West Morehead

• 6th and College Project

• CMPD redevelopment

• Hal Marshall redevelopment

• The Bohemian

[Dale]

Ricky, your insider knowledge is no match for the first instinct of the skyscraper-watcher: pessimism.

[Guest]

Ricky, your insider knowledge is no match for the first instinct of the skyscraper-watcher: pessimism.

Don't get me wrong, I feel like any day now the bottom is going to fall out.

 

However, all I hear from my contact who is Fairly Senior at Crescent Communities, who happens to be a childhood best friend, and would never lead me astray, is that they are extremely bullish on both Stonewall projects, and have received a sizable amount of interest in their retail spaces and office space. They also are in talks with 2 Hotel flags to have hotels split between the two projects. 

[CLTProductions]

There are projects I think will miss out on this upswing. 

• Spring Hill Suites by Marriott

• The projects announced recently in Gateway Village Area (includes Chris Branches project)

• Anything inside the loop on West Morehead

• 6th and College Project

• CMPD redevelopment

• Hal Marshall redevelopment

• The Bohemian

I am not surprised by any of these except for SpringHill....I thought that was all systems go?

[Guest]

I am not surprised by any of these except for SpringHill....I thought that was all systems go?

I'm not 100% on this one. Logistics... Logistics... 

[CLTProductions]

I'm not 100% on this one. Logistics... Logistics... 

Ah, that makes sense. They seem like a nightmare in this location. As far as 2 flags for the 2 projects...what do you mean? I thought Whole foods was getting 2 brands?

[Guest]

Ah, that makes sense. They seem like a nightmare in this location. As far as 2 flags for the 2 projects...what do you mean? I thought Whole foods was getting 2 brands?

I guess I should have said two parent companies.

[15895]

I disagree 100%. Crescent has a crap ton of money behind this project and will start tearing up the parking lot, demoing buildings and relocating utilities by Labor Day. They aren't far from Preleasing this building enough so that its no longer a spec tower. They have a lot of work to do just to keep up with Portman. Mark my words, 2 of the 3 Crescent projects will be well under way by the 4th Quarter 2015, with the 3rd Crescent (Noda), not far behind, breaking ground in 1st Quarter 2016.

 

 

Does that mean Tryon Place will be U/C in Summer 2015 though?

 

I'm not pessimistic it wont start this year, nor am I pessimistic in general at all. I just take the time frames for what they are.  Rarely are time frames ever met it seems.

[Dale]

Ricky, are you joking about the bottom falling out ?

[Guest]

Ricky, are you joking about the bottom falling out ?

Not completely. The current economic climate and our state and federal government have me just waiting for something to go bad and everything wonderful planned to just come to a complete halt. I'm just hoping the Federal government waits till after the Crescent projects are done to completely implode. 

[Dale]

I take comfort in the fact that the fearmongers are usually wrong or at least premature. Even Alberta keeps churing out projects.

[HopHead]

Not completely. The current economic climate and our state and federal government have me just waiting for something to go bad and everything wonderful planned to just come to a complete halt. I'm just hoping the Federal government waits till after the Crescent projects are done to completely implode. 

 

I'm actually far more worried about our incompetent state government than our federal government.. They seem intent on trying to screw the urban cores in favor of rural areas (among many other things). That being said, I feel pretty strong about this project moving forward. In large point because Crescent has positioned itself for it to get off the ground. And because Ricky D feels so upbeat about it!  It just may not kick off on June 1st like we hope.

[Guest]

In large point because Crescent has positioned itself for it to get off the ground. And because Ricky D feels so upbeat about it!  It just may not kick off on June 1st like we hope.

I don't think it will kick off June 1st, but I think its not far off. Crescent has something that few other developers in the region have, oodles of Cash and oodles of liquidity. They have positioned themselves so they don't really need financial backing, they can take a risk. They have very similar projects all over the country, and they are knocking them out without much red tape. Check out this building going up in Dallas, its a beaut. 

Edited April 15, 2015 by Guest

[tozmervo]

Kind of a lousy photo, but this was tweeted earlier. Maybe someone can track this image down? 

 

 

[dcharlotte]

They conveniently missed on including potential competition! 

[Guest]

Kind of a lousy photo, but this was tweeted earlier. Maybe someone can track this image down? 

 

 

huh? What am I missing?

[tozmervo]

Portman

[CLTProductions]

Who tweeted it? Looks like the 2 hotel buildings are going to be behind the apartments basically fronting Caldwell....neat. Cannot WAIT to see a full scale rendering. And is it just me (or because we really haven't seen a rending from that angle) but does it look like Tryon Place has a bit of a redisign?

Edited April 17, 2015 by Jayvee

[Guest]

Who tweeted it? Looks like the 2 hotel buildings are going to be behind the apartments basically fronting Caldwell....neat. Cannot WAIT to see a full scale rendering. And is it just me (or because we really haven't seen a rending from that angle) but does it look like Tryon Place has a bit of a redisign?

I can't see anything!?!?!?! Everything is just blank!

 

EDIT: I can only see it on Tapatalk, not on my work computer, weird.

Edited April 17, 2015 by Guest

[tozmervo]

Direct tweet link: https://twitter.com/afbillings/status/589083092431810561

[15895]

In that picture, either Tryon Place looks shorter or the hotel at Tryon Place looks bigger.

How perfect would it be for a JW at Tryon place? Beside the convention center, beside Duke Energy and anchoring a potentially very vibrant block. And having a JW would also help Tryon Place score tenants.