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Charlotte Residential Tower Rumors

appatone

By appatone
in Charlotte

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graydog Hamlet

graydog

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I'll be very sad if 129 W Trade gets reclad, which it most likely would if it gets converted.....it's by far the best looking modern architecture skyscraper in the city.

Ditto. Recladding it seems like major deal too. Wonder what the cost would be. We need to save this building so we have some architectural history for future generations.

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atlrvr Metropolitan Area

atlrvr

Posted
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An update from Doug Smith......Novare has said they will develop three high-rise condo towers on the Duke Power building site....they didn't say how many units or the timetable.

I hope they maintain the Church St. facade of the existing building. This project could be like the Centinneal Park project in Atlanta which has two 39 story condo towers and 12 story TWELVE hotel between. I would like that very much indeed.

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A2 Town

A2

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It looks like Novare likes the third ward park, they now have land on both sides. The rest of the area around the park will not likely stay parking lots for long.

Furman wants to put something lining the Park on the back side closest to the tracks. Once the placement of the park is final expect big time moves from developers. :D

A2

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stateman99 Whistle-Stop

stateman99

Posted
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hopefully this is the proper place for this post but....

I wonder, amongst all the people moving into these condo towers how many of them are relocating charlotteans, and how many are incoming out of towners

I see where u are coming from and have been wondering the same myself. I mean, I keep hearing people talk about oversaturating the market, but at the same time, we have a major influx of people to Charlotte every year, therefore, it is understandable why so many condos are being proposed. I am sure that is taken into account by the developers. Obviously the announcements will slow down, but as long as new people are moving into the city at the rate they are now, we should continue to see new announcements over the years.

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Rickydavisfan21 Hamlet

Rickydavisfan21

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I wish there was some way to find this out, because that would be very intersting thing to know. I hope we aren't oversaturating the market.

anyways guys, Its still 83 here and I'm heading to the beach all my homework is done and I'll tell the atlantic ocean hello for you guys.

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atlrvr Metropolitan Area

atlrvr

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From what an urban infill developer has told me, most of the demand is actually generated by people currently living in the suburbs. They are tired of the commute and won't to be part of a real city.....he didn't know how many of those people are originally from Charlotte.

I would guess that many are from up north originally, moved to the suburbs because that's what the locals advise everyone to do and realized how boring it is, and looked at other options and realized that Uptown is still a relative bargain.....that's just my guess based upon the dozen or so people I know buying highrise condo units, and only 1 of them was actually born here.

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MZT Burg

MZT

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I would not be surprised to see gas remain above $2.50 for the remainder of the year. Demand to live closer in should be picking up soon just from that alone.

Every mile farther from work you live, costs about $80 a year in gas+wear on an automobile. [Could be more like $150 on an SUV if gas prices get to $3.] It may not seem like a big deal for a few miles, but the savings for someone relocating from Concord or Rock Hill can mean something.

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graydog Hamlet

graydog

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From what an urban infill developer has told me, most of the demand is actually generated by people currently living in the suburbs. They are tired of the commute and won't to be part of a real city.....he didn't know how many of those people are originally from Charlotte.

I would guess that many are from up north originally, moved to the suburbs because that's what the locals advise everyone to do and realized how boring it is, and looked at other options and realized that Uptown is still a relative bargain.....that's just my guess based upon the dozen or so people I know buying highrise condo units, and only 1 of them was actually born here.

That's us, except we knew it would be boring. A bargain it is too. We thought about buying Uptown when we moved in in '03. The kids weren't ready for that much change, so we did the suburban thing they were used to. In May, we'll be in Uptown. We'll save an hour a day commuting because we'll walk to work 30 minutes round trip. That's 5 hours a week of extra time.

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UrbanCharlotte Burg

UrbanCharlotte

Posted
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Got some news to report. Maybe some already know this but...

Novare has plans for around 5 more towers as of now. ( not including TWELVE/Avenue ) three of those will go at the Duke site, with two other ones. Presales on their next tower (after TWELVE) will probably begin at the end of the year or beginning of next year. Presales on a project at the 300 block of S.Tryon will probably begin presales this summer or fall.( not by novare ) Finally the 210 Trade part of EpiCentre will most likely begin presales in a month or 2.

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atlrvr Metropolitan Area

atlrvr

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Presales on a project at the 300 block of S.Tryon will probably begin presales this summer or fall.( not by novare )

So I assume this is the Spectrum Tower....this is the project that I have been looking forward too (and fearing the most)

This will fill in a major gap, but Spectrum has a reputation for being a bit fake stucco happy. The rumor was several months ago, that this project would be about 15 stories of office and then 20 stories of condo on top......I guess we'll see.

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orulz City

orulz

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I really think that it's not so much the market that is driving demand for these towers- it's as if developers like (especially Novare and Furman) are driving the market themselves. The more towers they build, the more attractive uptown Charlotte becomes. I guess that's what they call "critical mass."

It's especially nice that the center of the boom is actually in the center of Charlotte, too, rather than somewhere else like South Park (which seems to be Charlotte's equivalent of Buckhead.)

All this makes me wish we had some "critical mass" building here in Raleigh, too.

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ElricSeven Hamlet

ElricSeven

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I wish I knew the size and amount of units on the Duke site project. It sounds pretty big.

Anyone care to speculate where this stuff will put Uptown population at and how it will affect the timing of retail making it into Uptown? I heard that 15,000 was an entry level number for retail to start becoming serious.

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49er Hamlet

49er

Posted
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its also a factor of pent up demand over several years. Downtown was on many peoples radar as a living choice 5 years ago, but the options were so few compared to now. the stampede of people wanting/waiting to buy downtown will eventually slow, but its still amazing to me how many units are selling.

Its really similar to Raleigh i believe. There is demand up there, but not enough product that people are interested in. The developers went high end before downtown revitalization has hit full stride. Glenwood is really the destination residential address up there with all the entertainment and dining options.

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