Misc. Uptown Projects/News

[Hunted]

Hence the disclaimer...

[KJHburg]

^^^ to a certain extent a huge building is good for a company and there is a trend here in Charlotte with BofA moving into fewer buildings.   They own uptown BofA Corporate Center and 1 Bank of America Center and Transamerica 400 N Tryon building. They own Charlotte Wake Forest Center on N College but it is on the market by HFF or maybe under contract.  They own half of Gateway Village with Cousins Properties.   They have substantial leased space in Hearst, 5/3 Bank Buildings and of course BofA Plaza but according to reports on here that will be given up (the BofA Plaza bldg space).   (If you combined their holdings in both Hearst and 5/3 Bank you would have a 1 million sq ft or so) 

Obviously owning a building and occupying it yourself is much cheaper in the long run and maybe this BofA owned buildings rumored help that along.   That is still why I believe Duke will build a building on S Tryon on the land they purchased because it is cheaper to own than rent especially if you know for the future you will be occupying large amounts of space. 

Edited March 8, 2018 by KJHburg

[EllAyyDub]

I am assuming 100 stories is an exaggeration, as that would be Empire State Building height.  @GeauxCLT said he had heard of a 70+ which would still be enormous BoACC is like 60 for reference.   Even on the "small" side this would be exciting!

What building(s) are the workers going into BOAT coming from?

 

[QCxpat]

13 hours ago, KJHburg said:

Okay put this in the rumor mill but someone else on this board mentioned this too.  I heard from a long time BofA employee that 2 towers were planned he thought for N Tryon. One smaller one like we think might happen on N Tryon at 8th (the Hall House block) and he mentioned a 100 plus story tower.   He was sober and this was in the morning.  But someone else on this board posted something about that I can't find the post now.    He also said BofA has about 23,000 employees here not sure about that does anyone know?  They are always saying 15,000 or so.   I have no idea if any of this right but I do believe the smaller tower on that block (smaller may mean 15-20)   anyone have thoughts on this and don't shoot the messenger.  

EMPLOYMENT --  CHARLOTTE'S MAJOR FINANCIAL SERVICES COMPANIES 

• Wells Fargo Company                                   23,000
• Bank of America Corporate                       15,000  
• TIAA                                                                          4,000  
• LPL Financial Services                                    2,850
• BB&T Corp                                                            2,065 
• Allstate Insurance Co                                     2,000
• MetLife Inc                                                            1,500
• Vanguard Group Inc,                                       1,300
• Barings                                                                    1,001+
• Ally Financial                                                           850 
• Sun Trust                                                                    500
• Regions                                                                       210+

Links:

(1) https://charlottechamber.com/clientuploads/Data/FinancialServices.pdf  -- Charlotte Chamber, Financial Services

(2) https://www.glassdoor.com/Overview/Working-at-Barings-EI_IE1404140.11,18.htm  --  Glassdoor, Barings, Charlotte, NC

(3) http://www.charlotteobserver.com/news/business/banking/article154130684.html -- Regions Bank to Base Trading Operation in Charlotte, Add Jobs, Charlotte Observer, 06/05/2017

(4) http://www.charlotteobserver.com/news/business/banking/article173540551.html -- Sun Trust Bank to Keep Expanding in Charlotte, Exec Says, Charlotte Observer, 06/15/2017

[CLTProductions]

Maybe a very tall tower, but ain’t no way we are getting a 100. Charlotte isn’t getting a top 5 in the US building lol 

[CLT2014]

13 hours ago, KJHburg said:

 He also said BofA has about 23,000 employees here not sure about that does anyone know?  They are always saying 15,000 or so.   I have no idea if any of this right but I do believe the smaller tower on that block (smaller may mean 15-20)   anyone have thoughts on this and don't shoot the messenger.  

15,000 is only the amount of people directly employed by Bank of America. That count doesn't include the good amount of contractors that work at BofA, which fluctuates, and they still have to seat in a BofA building. In the technology organization specifically, a good amount of people are on contract and anywhere from 5,000 - 7,000 contractors at any one point sounds reasonable. Down at Gateway Village.... I'd guess maybe 30% - 40% of people working down there are contractors, not BofA employees.

When I was on a tech team at Gateway in my BofA days, most doing development work were on a contract. We had 3 full time people from the business, 1 full time tech manager, 2 full time developers, and 18 contract developers that would rotate off when their contract expired. Similar ratios exist on many tech projects company-wide and developers often have to work as a contractor first, before getting a full-time offer.

They always exclude contractors when reporting their employee count, here in Charlotte and company-wide.

Edited March 8, 2018 by CLT2014

[Dale]

100 stories is lazy journalism for 1,000 feet.

[Jasons0013]

30 minutes ago, CLT2014 said:

15,000 is only the amount of people directly employed by Bank of America. That count doesn't include the good amount of contractors that work at BofA, which fluctuates, and they still have to seat in a BofA building. In the technology organization specifically, a good amount of people are on contract and anywhere from 5,000 - 7,000 contractors at any one point sounds reasonable. Down at Gateway Village.... I'd guess maybe 30% - 40% of people working down there are contractors, not BofA employees.

When I was on a tech team at Gateway in my BofA days, most doing development work were on a contract. We had 3 full time people from the business, 1 full time tech manager, 2 full time developers, and 18 contract developers that would rotate off when their contract expired. Similar ratios exist on many tech projects company-wide and developers often have to work as a contractor first, before getting a full-time offer.

They always exclude contractors when reporting their employee count, here in Charlotte and company-wide.

This.  I have been a contractor for BOA for close to 20 years.  Everyone I work with is a contractor.  Hell, I don;t know of too many people that aren't contractors.  

[KJHburg]

Yes many people incorrectly assume a 100 story building would be 1000 feet however we know that is not the case with office space.  So maybe someone thought during a  conversation about a  1000 foot tower and someone incorrectly thought that meant a 100 story building.  We have a 60 story building now that is 871 feet so add 10 floors and there is a 1000 footer. 

Someone posted on here BofA is emptying out of their space in BofA plaza and moving that to Legacy BOAT and the bank pushed a 1 floor tenant out of 1 BAC I think Ridgemont Equity and they are moving to BofA Plaza which despite the name is not owned by the bank.  

Remember BofA has roughly a 1 million feet in Hearst and 5.3 buildings that they no longer own (sold shortly after the financial crisis) and the bank is growing.  Where is it cheaper to grow the bank here, NYC or Boston?   Which city is it cheaper to build a 70 story building in?   Yall know the answer to that one. 

Edited March 8, 2018 by KJHburg

[J-Rob]

What are some educated guesses about where a 70 story tower would go?  I wish they could put it on top of the transit center to even out the dip in the middle of the skyline.  I know the picture below doesn't have 300 S Tryon, which fills in some density, but 300 S Tryon doesn't do much for the dip in height from jukebox/DEC to BACCC/Hearst.  This is obviously not happening though, so would be interesting to hear where others think a 70 story tower might go?

 

[Guest]

11 minutes ago, KJHburg said:

Yes many people incorrectly assume a 100 story building would be 1000 feet however we know that is not the case with office space.  So maybe someone thought during a  conversation about a  1000 foot tower and someone incorrectly thought that meant a 100 story building.  We have a 60 story building now that is 871 feet so add 10 floors and there is a 1000 footer. 

Someone posted on here BofA is emptying out of their space in BofA plaza and moving that to Legacy BOAT and the bank pushed a 1 floor tenant out of 1 BAC I think Ridgemont Equity and they are moving to BofA Plaza which despite the name is not owned by the bank.  

Remember BofA has roughly a 1 million feet in Hearst and 5.3 buildings that they no longer own (sold shortly after the financial crisis) and the bank is growing.  Where is it cheaper to grow the bank here, NYC or Boston?   Which city is it cheaper to build a 70 story building in?   Yall know the answer to that one. 

These days people build 60 floors and it goes well over 1000 feet. See all the new supertall office towers in NYC. 

[Guest]

Does anybody live in one of the new towers uptown, and would be willing to be part of a story thats being worked on? If so Personal Message me please.

[CLT704]

Okay, I'm a little confused. So there is a rumor about BAC building a 100 storey tall or 70 storey or 1000ft tall building, yes? And based off the fact that neither RDF21 or Jayvee are outright denying it, I'm guessing it is somewhat credible ? 

[KJHburg]

4 minutes ago, CLT704 said:

Okay, I'm a little confused. So there is a rumor about BAC building a 100 storey tall or 70 storey or 1000ft tall building, yes? And based off the fact that neither RDF21 or Jayvee are outright denying it, I'm guessing it is somewhat credible ? 

Someone told me 100 story but someone told  @GeauxCLT 70 story (which would easily be 1000 feet)  Something really tall is being discussed at least on N Tryon and the most likely tenant is Bank of America.  Catherine Bessant is head of the N Tryon taskforce or whatever it is called.  

I just saying my tidbit of info from a BofA employee and what was heard below are more than likely one of the same "proposals".   and I could tell you right now whom the developer would probably be....... the most secretive, close to the vest, developer in town yes Lincoln Harris.  They have had a long history with the bank and were part of the team that developed the current BofA Corp Center. 

GeauxCLT replied to atlrvr's topic in Charlotte

Take this for what it is worth, was having a beer with a buddy who works in commercial construction and he said his contact in the city’s permit office told him there are more projects than ever in their pipeline for review - including a 70 floor tower on North Tryon. I immediately responded there’s no way because I haven’t heard a word of it on UP. RDF/Jayvee...y’all holding out on us?

 

all very intriguing for sure........

•  

[CLTProductions]

16 minutes ago, CLT704 said:

Okay, I'm a little confused. So there is a rumor about BAC building a 100 storey tall or 70 storey or 1000ft tall building, yes? And based off the fact that neither RDF21 or Jayvee are outright denying it, I'm guessing it is somewhat credible ? 

100 story, 70 story, 1000ft tall will all not happen ANY time soon (just can't see this being a reality, at all). So don't worry about it. However, a building or two of BofA's in the N Tryon corridor? That is extremely likely. 

Edited March 8, 2018 by Jayvee

[Cadi40]

In my opinion a 1000+ footer isn’t out of the question, this Charlotte and nothing is out of the question. However I do think very few cities have buildings over 100 floors, But it’s Charlotte and I wouldn’t be surprised to see a proposal for it. But, nothing has been confirmed.

[uptownliving]

Maybe the 2 towers will add up to 1000 ft.

[QCxpat]

1 hour ago, Cadi40 said:

In my opinion a 1000+ footer isn’t out of the question, this Charlotte and nothing is out of the question. However I do think very few cities have buildings over 100 floors, But it’s Charlotte and I wouldn’t be surprised to see a proposal for it. But, nothing has been confirmed.

Currently, there are 19 towers in the USA that are at least 1,000 feet / 305 meters tall.  Floor-wise, these towers range from 52 floors to 108 floors.

8 of these buildings are in NYC; 5 are in Chicago; 2 in Los Angeles; 1 in San Francisco; 1 in Philadelphia; 1 in Atlanta; and 1 in Houston.

BOAC in Charlotte is the 37th tallest building in the USA.   It is 871 feet / 265 meters and 60 floors tall.  BOAC is the tallest building between Philadelphia and Atlanta.

I'm sure a new 1,000+ foot skyscraper along North Tryon Street would make BOA's Cathy Bessant's (the North Tryon Vision Plan's Chair's) day.  

Links:

(1)  https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_the_United_States 

(2)  https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Charlotte,_North_Carolina

Edited March 8, 2018 by QCxpat

[Nick2]

How awesome would it be to get a 1000+ foot close to the current BOA center that's also designed by Cesar Pelli?

[QCxpat]

49 minutes ago, Nick2 said:

How awesome would it be to get a 1000+ foot close to the current BOA center that's also designed by Cesar Pelli?

Sort of like the twin Petronas Towers in Kuala Lumpur, Malaysia, designed by Mr. Pelli (now 91 years of age).  Charlotte would have iconic landmarks for sure.

Link:  http://pcparch.com/  -- Pelli Clarke Pelli Architects

 

Edited March 8, 2018 by QCxpat

[15895]

BofA I remember when I was there (recently) was working to bring people from offshore to onshore (mostly as contractors, but also transitioning to employees) and were ending relationships with offshore partners as they brought them to onshore. And I remember that space was very tight and was an issue so that slowed the process 

[Cadi40]

1 hour ago, QCxpat said:

Currently, there are 19 towers in the USA that are at least 1,000 feet / 305 meters tall.  Floor-wise, these towers range from 52 floors to 108 floors.

8 of these buildings are in NYC; 5 are in Chicago; 2 in Los Angeles; 1 in San Francisco; 1 in Philadelphia; 1 in Atlanta; and 1 in Houston.

BOAC in Charlotte is the 37th tallest building in the USA.   It is 871 feet / 265 meters and 60 floors tall.  BOAC is the tallest building between Philadelphia and Atlanta.

I'm sure a new 1,000+ foot skyscraper along North Tryon Street would make BOA's Cathy Bessant's (the North Tryon Vision Plan's Chair's) day.  

Links:

(1)  https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_the_United_States 

(2)  https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Charlotte,_North_Carolina

Appreciate the insight but I was talking about how few cities in the US have buildings with over 100 floors, Which happen to be NYC and Chicago. 

[Guest]

My take, its hogwash. There could be something big planned, sure. I dunno CRE people are really bad at keeping secrets, so I'll start digging anyways.

[Norm2]

I really don't foresee any other big projects being announced uptown until this whole thing regarding the tariffs on steel and aluminum gets resolved.

[Cadi40]

For once it’s not Uptown’s problem, We can thank the big man in office