North End Projects - Camp NorthEnd, Lockwood, Greenville, Double Oaks

[KJHburg]

Camp North End attracts new software company.

From the Biz Journal today:

""Camp North End has added to its growing list of office tenants.

Software startup Mentra signed a five-year lease for 2,463 square feet at 201 Camp Road in Camp North End's Mount District. Mentra is a hiring platform that helps neurodivergents, or those whose brain processes information in a way that is not typical of most individuals, find successful career paths.

The startup was co-founded in 2019 by Jhillika Kumar and Conner Reinhardt while they were students at Georgia Tech. They moved the company to Charlotte after graduating in 2020, and the 10-person team worked from Kumar's home until moving into the office last week.""

Mentra opens Charlotte HQ at Camp North End - Charlotte Business Journal (bizjournals.com)

[KJHburg]

Camp North End plan as tweeted out by Camp North End developer 

Hex Coffee is located at 201 Camp Road site of the next local UP meetup 2 pm on Saturday Dec. 30 

[RANYC]

6 hours ago, KJHburg said:

Camp North End plan as tweeted out by Camp North End developer 

Hex Coffee is located at 201 Camp Road site of the next local UP meetup 2 pm on Saturday Dec. 30 

Obviously, I'm very intrigued by what the Camp North End guys are doing, but am I right in speculating that they're backed by some very patient capital?  Is this place profitable yet?  Or did they get it at such a steal given its location that they've got plenty of runway for brand-building and all the specialty tenant selection while undertaking incremental renovations and new additions?

[KJHburg]

11 minutes ago, RANYC said:

Obviously, I'm very intrigued by what the Camp North End guys are doing, but am I right in speculating that they're backed by some very patient capital?  Is this place profitable yet?  Or did they get it at such a steal given its location that they've got plenty of runway for brand-building and all the specialty tenant selection while undertaking incremental renovations and new additions?

Maybe both but they are financially backed by Shorenstein which is based in San Francisco and they are big money.  

[Hushpuppy321]

I’m completely stunned at the beginning transformation of the NorthEnd Area.  This region is so pregnant with Development potential that I never thought just 10 years ago would be possible.  The steady redevelopment of parcels and collection/sale of parcels for future development is amazing.

I work with so many native North Carolinians, folks/people who never come to Charlotte (I work an hour away) much more than maybe once or twice in several years time if that.   They would be shocked to see how it’s grown from end to end but also especially from the middle outward.

Edited December 23, 2023 by Hushpuppy321

[go_vertical]

I have a question for those who are more in-tune with land sale/swaps, development, etc.  I imagine that eventually we will see a similar trend on the North End that we have witnessed in South End with an initial wave of mid-rise projects followed by a number of high rise towers as larger and easier to develop parcels are eaten up.  I also imagine this direction will end up having primarily residential as I assume this area isn't well suited for large scale office.  My question is does anyone else think we will see any significant height towers (15 - 20 floors) get proposed in this area in the near future?

[KJHburg]

31 minutes ago, go_vertical said:

I have a question for those who are more in-tune with land sale/swaps, development, etc.  I imagine that eventually we will see a similar trend on the North End that we have witnessed in South End with an initial wave of mid-rise projects followed by a number of high rise towers as larger and easier to develop parcels are eaten up.  I also imagine this direction will end up having primarily residential as I assume this area isn't well suited for large scale office.  My question is does anyone else think we will see any significant height towers (15 - 20 floors) get proposed in this area in the near future?

My short answer no to high rises.  I think the reason  high rises are developing in Southend is the light rail  however with Camp North End building up so much it is possible for a residential high rise.  There are just so many better spots for high rises right now.   I think there will be many new midrise apartments and hopefully lots of for sale product like townhomes in this area.  

[CLT Development]

6 hours ago, KJHburg said:

My short answer no to high rises.  I think the reason  high rises are developing in Southend is the light rail  however with Camp North End building up so much it is possible for a residential high rise.  There are just so many better spots for high rises right now.   I think there will be many new midrise apartments and hopefully lots of for sale product like townhomes in this area.  

Actually the master plan includes taller buildings toward the corner of Graham and Statesville behind the Fire Dept HQ. I designed the maps lol. 

[Hushpuppy321]

37 minutes ago, CLT Development said:

Actually the master plan includes taller buildings toward the corner of Graham and Statesville behind the Fire Dept HQ. I designed the maps lol. 

Makes sense - that area around the CFD HQ would have commanding views of Uptown.  I think most other areas would be Low Rise to Mid Rise maybe except for the areas moving closer to NODA/Optimist Park.  I could envision 8 to 12 story buildings.

[RANYC]

On 12/23/2023 at 3:13 PM, go_vertical said:

I have a question for those who are more in-tune with land sale/swaps, development, etc.  I imagine that eventually we will see a similar trend on the North End that we have witnessed in South End with an initial wave of mid-rise projects followed by a number of high rise towers as larger and easier to develop parcels are eaten up.  I also imagine this direction will end up having primarily residential as I assume this area isn't well suited for large scale office.  My question is does anyone else think we will see any significant height towers (15 - 20 floors) get proposed in this area in the near future?

You asked about 15-20 floor towers in the near future (I'll insert here 5-7 years), and my answer is "No."

Taller buildings than what's there now, well sure, especially given it's mostly single-story repurposed warehouses with the exception of a single 4-5 story multi-family project and accompanying garage under development.

 

[CLT Development]

Here is a 3D version of the map I designed for the team at Camp ( @KJHburg posted the 2D above) . You will see a 12 and a 16 floor building on the bottom left. 

Edited December 27, 2023 by CLT Development

[turbocraig]

^So probably a dumb question, but do they have plans for the old overgrown RR tracks that go through there?

[RANYC]

1 hour ago, CLT Development said:

Here is a 3D version of the map I designed for the team at Camp ( @KJHburg posted the 2D above) . You will see a 12 and a 16 floor building on the bottom left. 

Thanks for sharing.  Camp North End is an intriguing case study on restorative development, urban placemaking, and creative reuse.  When drafting a plan map, can you comment on whether there was any consideration of a central plaza or activated, hard-scaped square as an anchor feature?

I'd be fine with a 15-20 floor bldg there in the next 5-7 years, I'm just doubtful it happens.  If it does, huzzah.

Edited December 27, 2023 by RANYC

[CLT Development]

1 minute ago, turbocraig said:

^So probably a dumb question, but do they have plans for the old overgrown RR tracks that go through there?

Never a dumb question, this is currently a broken portion of Norfolk Southern's O-Line and would technically be the alignment for CATS Red Line. 

3 minutes ago, RANYC said:

Thanks for sharing.  Camp North End is an intriguing case study on restorative development, urban placemaking, and creative reuse.  When drafting a plan map, can you comment on whether there was any consideration of a central plaza or activated, hard-scaped square as an anchor feature?  The space where movie nights are held sort of acts as that now but isn't fully designed and finished for that purpose.  Given CNE's historica and growing cultural significance, might there have been an opportunity to work with Parks to create a civic public square somewhere in the camp, and then orient retail, office, and residential uses around and adjacent to said square?

There are some much more robust plans where the movie night is being held. Those changes will come when the Ford Building gets renovated, which will have retail facing that park/plaza. There will also be a number of other open spaces. I'll try to remember to print out this map at work to bring to the meetup.

[RANYC]

7 minutes ago, CLT Development said:

Never a dumb question, this is currently a broken portion of Norfolk Southern's O-Line and would technically be the alignment for CATS Red Line. 

There are some much more robust plans where the movie night is being held. Those changes will come when the Ford Building gets renovated, which will have retail facing that park/plaza. There will also be a number of other open spaces. I'll try to remember to print out this map at work to bring to the meetup.

ooh, very nice.  thanks.  i'm just really amazed at how camp north end is evolving and the kind of vision being brought into that evolution.  you sometimes forget that there are sources of financial backing out there that allow for this kind of creativity and design thoughtfulness and intentionality.

Edited December 27, 2023 by RANYC

[CLT Development]

15 minutes ago, RANYC said:

ooh, very nice.  thanks.  i'm just really amazed at how camp north end is evolving and the kind of vision being brought into that evolution.  you sometimes forget that there are sources of financial backing out there that allow for this kind of creativity and design thoughtfulness and intentionality.

I've never been able to 100% determine how much they paid overall for the land ( I could but who has the time to go through that many deeds), but based on the excise taxes on the larger parcels with buildings vs ones without, I think its around $2M an acre, so about $150M+ total for the 76 acres. I think the financiers see this as a close in property with endless potential and are ok with it being a longer term investment. 

Edited December 27, 2023 by CLT Development

[KJHburg]

Had a good little meetup with some UP folks at the Hex Coffee at Camp North End.  That place gets better and better every visit I make.  A lot of attention to details and new tenants keep coming and more are in the works I hear.  The apartments will open in fall of next year and I think they will do great.  First of 2000 plus I heard today.  

 

[CLT Development]

On 12/27/2023 at 4:57 PM, CLT Development said:

I've never been able to 100% determine how much they paid overall for the land ( I could but who has the time to go through that many deeds), but based on the excise taxes on the larger parcels with buildings vs ones without, I think its around $2M an acre, so about $150M+ total for the 76 acres. I think the financiers see this as a close in property with endless potential and are ok with it being a longer term investment. 

by the way I did the Excise Tax math WAY WRONG. They only spent $15M on the site. $200K per acre. I think thats why they can be so patient, they got a hell of a deal.

[KJHburg]

forgot to post these from Saturday.  Driving around the  Lockwood area between N Tryon and N Graham on  24th and 27th.  Lots of new apartments being built in this area.  

[KJHburg]

update from Twitter on Camp North End and where they will develop or restore next

 

[nicholas]

I believe this is Kinship West that is visible from Graham St.

[KJHburg]

first reported in the Ledger then in the Biz Journal  Shorenstein is selling its interest in the office buildings at Camp North End.

The Offices @ Camp North End - Charlotte - Properties for... (jll.com)

Shorenstein Properties selling office stake in Camp North End - Charlotte Business Journal (bizjournals.com)

""The San Francisco-based commercial real estate firm is seeking a 90% recapitalization or the outright sale of The Offices @ Camp North End, according to a JLL property listing. JLL is marketing the property on behalf of Shorenstein.

The 380,031-square-foot site includes five adaptive-reuse office buildings — 701 Keswick Ave.; 1701 and 1801 N. Graham streets; and 201 and 301 Camp roads. They span 20 acres on the Camp North End site. The buildings delivered between 2019 and 2022 and are 58% occupied.  

Tenants include Software startup Mentra, local tech firm Kingsmen Software, Google Fiber, Bolton & Menk, Petfolk, Centene Corp., Ally Financial’s TM Studio, CloudGenera, Passero Associates and Pine Gate Renewables.

Shorenstein joined Atco Properties & Management in the redevelopment project in 2018 as a strategic capital partner. ""