The Good News Report

[KJHburg]

I think there is a suburbs vs city thread you might want to move this conversation too.  Be careful throwing stones at suburbanites because even Dilworth was an early suburb.  

[kermit]

1 minute ago, KJHburg said:

I think there is a suburbs vs city thread you might want to move this conversation too.  Be careful throwing stones at suburbanites because even Dilworth was an early suburb.  

Dilworth is a great example of how to put a stake through the heart of suburban vampires. Dilworth residents were benefiting from the infrastructure and economic base of the city so the neighborhood was annexed and now they financially contribute to the operation of the city they benefit from.

[KJHburg]

Suburban counties in both NC and SC contribute to our labor pool and there is NO way this city could operate without these workers.  No way.  Everyone can not fit in the city limits.  Doesn't happen in NYC, Chicago or Boston.  Last time I checked all those cities had suburbs upon suburbs.  

From UNC Charlotte 

from 2015 can't find anything more recent

https://ui.charlotte.edu/story/commuting-and-charlotte-region’s-economic-connections

 

[kermit]

The city does not need to 'do without' the suburban labor force, the city just needs to stop subsidizing their behavior which damages the fabric of the city (in the form of highways built to cater to commuters, the emissions and noise they produce and the tax value erosion they create via the underutilization of land used for parking).

Suburban office markets appear to be dead, 100% remote looks to be a non-starter for most high-skill activities, and some workers are moving further from the city. The only areas seeing office absorption are high density and walkable urban areas like Southend. Uptown is struggling because it catered too much to suburban commuters at the expense of residential growth (so there is not enough activity in uptown to keep entertainment / food businesses going or for it to feel safe). The good news is the city now has an opportunity to expand and augment places like Southend and remediate places like uptown by doing things like right-sizing infrastructure (e.g. removing the Belk), increasing residential densities in the core (to help lower housing costs) and taxing parking as a means of paying for transit. There is no reason to hang onto the pre-pandemic models of urban form.

Everything is different in the hybrid work world,  now is clearly the time for radical change -- what other strategies could Charlotte take to adapt to the new reality? Personally, I am not sure I see how continuing to cater to suburban commuters, at the expense of a denser, richer and more fiscally sustainable urban life, is a positive for Charlotte (or any other city). What adaptation strategies would you suggest?

Edited July 31, 2023 by kermit

[15895]

13 hours ago, KJHburg said:

Suburban counties in both NC and SC contribute to our labor pool and there is NO way this city could operate without these workers.  No way.  Everyone can not fit in the city limits.  Doesn't happen in NYC, Chicago or Boston.  Last time I checked all those cities had suburbs upon suburbs.  

From UNC Charlotte 

from 2015 can't find anything more recent

https://ui.charlotte.edu/story/commuting-and-charlotte-region’s-economic-connections

 

Fun fact, if everyone in the Charlotte metropolitan area lived within Charlotte city limits, it would still have a lower population density than NYC, Chicago & Boston. 
 

Charlotte with 2.7M people in 310 Sq. Miles = 8,713 People Per Sq. Mile.

Charlotte = 2,821PPSM

Boston = 13,980PPSM

Cambridge = 18,512PPSM

NYC = 28,302PPSM

Jersey City = 19,830PPSM

Chicago = 12,059PPSM

+NYC has *tons* of tourism (which matters from a tax revenue perspective) 
 

I guess I just think those factors make it more complex of a comparison that would be insightful to take into account. 

Edited July 30, 2023 by AirNostrumMAD

[Durhamite]

7 hours ago, AirNostrumMAD said:

Fun fact, if everyone in the Charlotte metropolitan area lived within Charlotte city limits, it would still have a lower population density than NYC, Chicago & Boston. 
 

Charlotte with 2.7M people in 310 Sq. Miles = 8,713 People Per Sq. Mile.

Charlotte = 2,821PPSM

Boston = 13,980PPSM

Cambridge = 18,512PPSM

NYC = 28,302PPSM

Jersey City = 19,830PPSM

Chicago = 12,059PPSM

+NYC has *tons* of tourism (which matters from a tax revenue perspective) 
 

I guess I just think those factors make it more complex of a comparison that would be insightful to take into account. 

Another fact, density doesn’t mean “better” cause there are vast amounts of many parts of those cities most of y’all would dare not visit, much less live in.  And a lot of those people would get the the hell out of there if they could.  Even in those metros most people live in the burbs and only visit the city for special events, just like the sunbelt. 

I say just let sunbelt cities continue to develop and densify based on today’s livability and affordability standards/demands…different time, era etc.  And post pandemic, it’ll take time to for all cities to adapt and figure out what works. I just don’t think you can totally “policy” behaviors, build, see if they’ll come, if not try something else. 

[15895]

17 hours ago, Durhamite said:

Another fact, density doesn’t mean “better” cause there are vast amounts of many parts of those cities most of y’all would dare not visit, much less live in.  And a lot of those people would get the the hell out of there if they could.  Even in those metros most people live in the burbs and only visit the city for special events, just like the sunbelt. 

I say just let sunbelt cities continue to develop and densify based on today’s livability and affordability standards/demands…different time, era etc.  And post pandemic, it’ll take time to for all cities to adapt and figure out what works. I just don’t think you can totally “policy” behaviors, build, see if they’ll come, if not try something else. 

I wish you’d stop interpreting my post as somewhere else is “better.” What I said is applicable to almost every city in the US, including San Francisco and building taller over their vast 2-3 floor row homes near Presedio or whatever that part of the city is, that includes DC upzoning more of certain neighborhoods, that includes Philadelphia building more along their HRT stations and electrifying it, etc. This is my beliefs. Not little “who has a bigger one”. Not who is better. Not which is inferior. It’s urbanism. 

Some of you clutch pearls “oh, I don’t want to grow like Houston or Dallas [or Atlanta] or Raleigh, it’s so sprawling, Charlotte isn’t like that, we’re so dense, has anyone ever seen anything as dense as a secondary skyline like SouthEnd (I guess people that has never been to GA or VA or many other places?) Woah” but in the next few paragraphs “oh, Boston, New York, Chicago, they got suburbs just like. Charlotte, it’s all the same.” Ok. Lmao. New York got suburbs liek Charlotte does. But Houston…. So sprawling, so low dense. Right…

I get it. Some of y’all hate places that you seemingly want to be like. I get it. But my posts aren’t insinuating one place is better than another. Some of y’all live …. For why some areas are better. I gotta say. People in NY, etc don’t care if you think Houston is better than them or not. Also, Why do I need to go and list out certain dense cities (I assume places like Baltimore) and list their issues anytime I post something someone here finds insulting because they don’t like what Charlotte is? No one is is saying Charlotte sucks or that somewhere else is better. 
 

We can have opinions on local policies, local initiatives, local issues without it meaning that others areas must be better than Charlotte…. I can be shocked Gateway Station has the tracks and infrastructure for a station but seemingly no solid plans to build a station. It doesn’t occur to me to think “oh well other places must be better.” That’s not how I think…

Edited July 31, 2023 by AirNostrumMAD

[elrodvt]

On 7/29/2023 at 4:20 PM, CLT2014 said:

York residents that commute to jobs based in NC pay NC income tax for that job. Corporations like Bank of America withhold all their earnings to NC and the employee would file an NC return. They would pay SC income tax on dividend earnings, interest income, et. outside their job. 

On the flip side, RedVentures employees living in South End pay South Carolina income taxes if they are based at the Indian Land campus.

The state where the employee is a resident then collects anything in excess if the tax formula in the residential state results in a higher bill than the state of employment. 

Thank you, I didn't know that.

[Durhamite]

On 7/31/2023 at 9:15 AM, AirNostrumMAD said:

I wish you’d stop interpreting my post as somewhere else is “better.” What I said is applicable to almost every city in the US, including San Francisco and building taller over their vast 2-3 floor row homes near Presedio or whatever that part of the city is, that includes DC upzoning more of certain neighborhoods, that includes Philadelphia building more along their HRT stations and electrifying it, etc. This is my beliefs. Not little “who has a bigger one”. Not who is better. Not which is inferior. It’s urbanism. 

Some of you clutch pearls “oh, I don’t want to grow like Houston or Dallas [or Atlanta] or Raleigh, it’s so sprawling, Charlotte isn’t like that, we’re so dense, has anyone ever seen anything as dense as a secondary skyline like SouthEnd (I guess people that has never been to GA or VA or many other places?) Woah” but in the next few paragraphs “oh, Boston, New York, Chicago, they got suburbs just like. Charlotte, it’s all the same.” Ok. Lmao. New York got suburbs liek Charlotte does. But Houston…. So sprawling, so low dense. Right…

I get it. Some of y’all hate places that you seemingly want to be like. I get it. But my posts aren’t insinuating one place is better than another. Some of y’all live …. For why some areas are better. I gotta say. People in NY, etc don’t care if you think Houston is better than them or not. Also, Why do I need to go and list out certain dense cities (I assume places like Baltimore) and list their issues anytime I post something someone here finds insulting because they don’t like what Charlotte is? No one is is saying Charlotte sucks or that somewhere else is better. 
 

We can have opinions on local policies, local initiatives, local issues without it meaning that others areas must be better than Charlotte…. I can be shocked Gateway Station has the tracks and infrastructure for a station but seemingly no solid plans to build a station. It doesn’t occur to me to think “oh well other places must be better.” That’s not how I thin

I have no idea where you're going with this ramble or the relevance of the density population stat (btw, which most of us urban nerds already know, and have lived in several of these places).  I have worked in DC, lived in VA/MD.  Lived in DC and worked in VA/MD, and everybody gets their chunk of the tax pie one way or the other.  I don't think people living in the burbs, working on the city get off the hook....that is interesting about York.

[15895]

5 hours ago, Durhamite said:

I have no idea where you're going with this ramble or the relevance of the density population stat (btw, which most of us urban nerds already know, and have lived in several of these places).  I have worked in DC, lived in VA/MD.  Lived in DC and worked in VA/MD, and everybody gets their chunk of the tax pie one way or the other.  I don't think people living in the burbs, working on the city get off the hook....that is interesting about York.

As long as People say “oh, even NY, Chicago, Boston has suburbs upon suburbs just like us” - I’m going to point out the population density in context of Charlotte being full “too.” Especially when it comes to tax burdens of municipalities in Metrolina.

I’m well aware you have lived in the DMV. I think you mention it almost every time you quote my post. Which is fine. I just don’t like when people get all “which area is better than which” post that you frequently attribute to my post. That’s not my style. It’s just projection. 

Some of Y’all could rage and write a novel on how Charlotte is more urban than Raleigh (and Atlanta and Houston)  And yet somehow go on tangents like the above. 

Edited August 1, 2023 by AirNostrumMAD

[Professor]

On 7/30/2023 at 4:16 PM, Durhamite said:

Another fact, density doesn’t mean “better” cause there are vast amounts of many parts of those cities most of y’all would dare not visit, much less live in.  And a lot of those people would get the the hell out of there if they could.  Even in those metros most people live in the burbs and only visit the city for special events, just like the sunbelt. 

I say just let sunbelt cities continue to develop and densify based on today’s livability and affordability standards/demands…different time, era etc.  And post pandemic, it’ll take time to for all cities to adapt and figure out what works. I just don’t think you can totally “policy” behaviors, build, see if they’ll come, if not try something else. 

Thanks. A voice of reason.  

[rancenc]

Information on the expansion of Chase in the Carolinas.

https://www.bloomberg.com/press-releases/2023-08-01/chase-exceeds-2018-carolinas-expansion-commitments-and-plans-to-add-more-employees-branches-and-corporate-office-space

[Blue_Devil]

1 hour ago, rancenc said:

Information on the expansion of Chase in the Carolinas.

https://www.bloomberg.com/press-releases/2023-08-01/chase-exceeds-2018-carolinas-expansion-commitments-and-plans-to-add-more-employees-branches-and-corporate-office-space

I put this in the Banking news thread but expect another 500 job announcement in the next 12 months related to Operations and Compliance, though they might just do it quietly. They have been poaching Carolina area leaders a bit

[KJHburg]

This Beyonce concert is good news for uptown hotels.  Some are already sold out and the rest (just checked my Hilton family of properties ) have the highest rates I have seen since the NBA All Star game a few years back.

For Wed night August 9 the night of the concert these are the Nightly rates I am seeing:

Hilton Uptown $652 a night

Embassy Suites  Uptown $1392  a night (and yes I typed that correctly)

Hilton Garden Inn uptown $500

Hampton Inn uptown $477

Multiple hotels sold out around town but you can still book a night in Pineville Hampton Inn for $114.  

Now for those Marriott properties not much cheaper.... 

Ritz Carlton $685 a night but no breakfast buffet like the Embassy!

Aloft Uptown $469

Springhill Suites $440

JW Marriott $499

Westin $548 a night 

Basically an expensive night if you want an uptown hotel room  regular rates further into the suburbs. 

 

 

[Blue_Devil]

Not sure this is overall good news, but fully remote work just had the final mail hammered in. Zoom is not asking all works to begin hybrid schedule work. 
 

I give it 2-3 more years before most companies are back to a 4-1. I put this in good news because it is going to be great for places like uptown Charlotte and we will likely start seeing more relocations and hub announcements here again.

[rancenc]

3 hours ago, Blue_Devil said:

Not sure this is overall good news, but fully remote work just had the final mail hammered in. Zoom is not asking all works to begin hybrid schedule work. 
 

I give it 2-3 more years before most companies are back to a 4-1. I put this in good news because it is going to be great for places like uptown Charlotte and we will likely start seeing more relocations and hub announcements here again.

Your prediction might be accelerated if recessionary pressures force employers to trim their headcount.....

https://www.nytimes.com/2023/07/06/business/economy/jobs-great-resignation.html

[elrodvt]

It's a nice pain free layoff strategy I saw employed at my fortune 500. Encourage people to work remote. Wait till times are tough. Tell everyone they have to come back in. Call the folks who have moved, or refuse for other reasons, voluntary resignations. No unemployment. No severance or other compensation. Pretty sweet. No one could ever see through that right? We can hang onto the Corp jet fleet with the savings. Time to sip champagne. 

[krazeeboi]

On 7/29/2023 at 4:52 PM, kermit said:

I stand corrected, I forgot about withholding. York County residents are no more villainous than Union County residents -- but they are all still vampires draining  the city's blood. My apologies.

"Build the wall! Build the wall!"

[15895]

On 8/6/2023 at 8:24 AM, Blue_Devil said:

Not sure this is overall good news, but fully remote work just had the final mail hammered in. Zoom is not asking all works to begin hybrid schedule work. 
 

I give it 2-3 more years before most companies are back to a 4-1. I put this in good news because it is going to be great for places like uptown Charlotte and we will likely start seeing more relocations and hub announcements here again.

Everywhere up here in the Mid-Atlantic/Northeast is really starting to clamp down pretty hardcore. I work for a bank based in NY and they’re going to start monitoring badge swipes & we’re not hiring anyone unless they live near a location that can physically work from whether their team is there or not.

That & the Biden administration announced Friday, as a “priority of the president”, to “aggressively” return to the office in September/October. 

I agree with you. 4-1 May be the new standard if not fully 5 days a week at many places. I’m happy about it personally. 

[Blue_Devil]

31 minutes ago, AirNostrumMAD said:

Everywhere up here in the Mid-Atlantic/Northeast is really starting to clamp down pretty hardcore. I work for a bank based in NY and they’re going to start monitoring badge swipes & we’re not hiring anyone unless they live near a location that can physically work from whether their team is there or not.

That & the Biden administration announced Friday, as a “priority of the president”, to “aggressively” return to the office in September/October. 

I agree with you. 4-1 May be the new standard if not fully 5 days a week at many places. I’m happy about it personally. 

All 4 major Banks, JPM, Wells, BOA, and Citi, are pursuing a hub strategy now. 3 of those 4 now list Charlotte as one of their 7-8 major hubs. Citi will probably join them. 

[rancenc]

Great news as NC transitions from fossil fuels to greener energy methods of power.

https://www.energyportal.eu/news/with-coal-losing-steam-solar-is-filling-the-nc-power-void-but-natural-gas-is-still-king/134621/

[tozmervo]

10 minutes ago, rancenc said:

Great news as NC transitions from fossil fuels to greener energy methods of power.

https://www.energyportal.eu/news/with-coal-losing-steam-solar-is-filling-the-nc-power-void-but-natural-gas-is-still-king/134621/

If you want a source that doesn't read like AI produced trash: Solar passes coal as power source in NC but natural gas still king (starnewsonline.com)
Including actual links to data: Electricity data browser - Net generation for all sectors (eia.gov)

Edited August 8, 2023 by tozmervo

[KJHburg]

Some of you will think this is good news some will think it is bad news but here it is.  StorageCafe does an analysis of the largest homes and largest lots by metro and Charlotte comes closer to the top of both. 

Charlotte metro average home size is 1900 sq ft and average lot size is 10,600 sq ft or .24 acres.   Nashville Atlanta Louisville beat us in the average lot sizes.   Charlotte comes in at #9 with the biggest home size.    By the way NYC metro has a larger average home size.  

Southern Cities Lead The US For Spacious Homes and Backyards (storagecafe.com)

Note how Texas lot sizes are much smaller than the NC cities and this is very much true despite what you think everything is bigger in Texas.  Average farm or ranch size then you are talking much bigger than anywhere in the east. 

[ScottCLT]

Regarding the post that I must've missed back in February about Micro Center opening in Charlotte in 2024, I'm so excited about this!

I am a techie (I have 12 Raspberry Pis doing various home automation tasks, a Dell R740 server in a server rack, Ubiquiti network equipment, 11 Ubiquiti cameras around the house, several home automation dashboard tablets, and my home runs on Home Assistant - an amazing Linux app for controlling everything in your smart home) and just heard about this new Charlotte store today on Linus Tech Tips (a pretty famous YouTube channel, if you aren't familiar).

They are offering a free 128GB USB Stick to Charlotte customers who sign up for updates. I'll probably be there the day they open to claim mine (and probably spend a lot of money on new toys)! I can't wait!

https://www.microcenter.com/site/stores/charlotte.aspx

Edited August 12, 2023 by ScottCLT
Added context

[15895]

Multifamily Rental Completions report from CBRE:

Charlotte has 14th highest completions trailing 4 Quarters ending 2Q23. 

#7 for rent growth in the SouthEast (though I think rents are too “dang” high so I don’t think that is good news in my opinion but. From random million & billionaires around the country investing in CMBS, I suppose it is.  & the reality of our country  ) Now I want to put this in bad news xD

 

Full report:

https://www.cbre.com/-/media/project/cbre/shared-site/insights/figures/2023-figures-media-folder/q2-2023-us-multifamily-figures-media-folder/q2-2023-us-multifamily-figures.pdf

 

Off topic, Dallas + Fort Worth is an absolute monster. Though I think most of their Multifamily is actually pretty low dense like what you would see in North Lake or Gastonia etc. hopefully I’m wrong (imagine if that was going around all those DART stations). They have over 20,000 completions combined. 

Edited August 12, 2023 by AirNostrumMAD