The Good News Report

[atlrvr]

When I lived in Boston, and said "I'm from Charlotte", the response was almost always "Oh, down in the Carolinas?"  Always "Carolinas"...no one was ever confident enough to take a stab at North or South.

 

[Temeteron]

4 hours ago, atlrvr said:

When I lived in Boston, and said "I'm from Charlotte", the response was almost always "Oh, down in the Carolinas?"  Always "Carolinas"...no one was ever confident enough to take a stab at North or South.

 

Or they just say “Carolina”.  That drives me crazy lol

[InSouthPark]

14 hours ago, Temeteron said:

Or they just say “Carolina”.  That drives me crazy lol

They learned their US geography from the NFL. 

[KJHburg]

Zillow says Charlotte is still a top 10 housing market due to growth.

Why Buffalo will be 2024’s Hottest Market - Zillow Research

Yes Buffalo is number 1 this year due to the fact they hardly build anything so there is some demand but little building.  

also this tidbit from Atlanta and it is interesting unless you hate going into the office.  But requiring more office time for employees does drive office building development just saying.

""UPS Inc. is making a bold move as the largest public company in Georgia to withdraw its hybrid work policy.

The shipping giant (NYSE: UPS) will require corporate employees to return to the office five days a week beginning on March 4, according to an internal memo sent on Wednesday and viewed by Atlanta Business Chronicle. The decision will affect thousands of workers based on UPS campuses, including its global headquarters in Sandy Springs.

UPS will allow a limited number of positions previously approved for remote status to continue to work from home, according to the memo. Managers will be able to allow employees to occasionally work outside of the office in cases of business travel, sick days, caregiving needs, home repairs and other circumstances, according to the memo""

from ATL Biz Chronicle.  UPS headquarters in the ATL employs 1000s in Sandy Springs but most of their employees have always had to show up to work in the delivery and distribution end of their business of course.  Could be a one off or start of something? 

Edited January 5 by KJHburg

[KJHburg]

Perhaps good news for the international exposure perhaps bad news if international embarrassment of our team. 

 

""Carolina Panthers to Play in Germany in 2024 

The Panthers have been making plenty of trips to and building plenty of fans in Germany over the last few years. Now, they will be playing a game there.

This morning, the NFL announced the Panthers have been designated to play in Munich next season.

"It's an honor for the Carolina Panthers to play in Munich in 2024," Panthers owner David Tepper said. "This game represents more than playing internationally for us. With more than 200 German-owned companies in the Charlotte area, this opportunity offers a special connection for the Panthers and our community. We are excited to deepen our relationships with our German fans, engage with our partners, and continue to grow our brand globally."

The date, opponent, and ticket information for the Munich game will be determined at a later date.""

[RANYC]

5 hours ago, KJHburg said:

Perhaps good news for the international exposure perhaps bad news if international embarrassment of our team. 

 

""Carolina Panthers to Play in Germany in 2024 

The Panthers have been making plenty of trips to and building plenty of fans in Germany over the last few years. Now, they will be playing a game there.

This morning, the NFL announced the Panthers have been designated to play in Munich next season.

"It's an honor for the Carolina Panthers to play in Munich in 2024," Panthers owner David Tepper said. "This game represents more than playing internationally for us. With more than 200 German-owned companies in the Charlotte area, this opportunity offers a special connection for the Panthers and our community. We are excited to deepen our relationships with our German fans, engage with our partners, and continue to grow our brand globally."

The date, opponent, and ticket information for the Munich game will be determined at a later date.""

I'd encourage a delegation of city officials and city planners to also visit and attend this game but while there, take lessons from Munich on making urban density very livable. I'd love for Munich to be a model of what we strive for here in Charlotte from its cultural institutions to its gathering places to its gardens.  Not all of council though.  If some of council show up, it may actually cause our growing economic connectedness to Germany to retrench.

Edited January 11 by RANYC

[CLT Development]

1 hour ago, RANYC said:

I'd encourage a delegation of city officials and city planners to also visit and attend this game but while there, take lessons from Munich on making urban density very livable. I'd love for Munich to be a model of what we strive for here in Charlotte from its cultural institutions to its gathering places to its gardens.  Not all of council though.  If some of council show up, it may actually cause our growing economic connectedness to Germany to retrench.

I'll be there, do I count?

[RANYC]

45 minutes ago, CLT Development said:

I'll be there, do I count?

For sure.  Take Alyson, et alia.  Maybe Dimple, Molina, Malcolm Graham and Anderson.

[Professor]

2 hours ago, CLT Development said:

I'll be there, do I count?

The only thing that impresses me about Munich other than historic structures is the underground where I usually eat. I like the Hofbrauhaus and visit the English Garden where there are some hot women almost nude in good weather, but after a few days in Munich, it's time to move on. Like most tourist cities, we become infatuated.  Don't see how we could model after it without destroying our modern architecture and reinstalling really bad plumbing like much of Germany has, i.e. steam heat, circa 1950s school buildngs. Good place to visit or enven live for a while. But, I'd prefer to keep Charlotte. Some of their tourist spots would be nice. 

[atlrvr]

I'm always hesitant to post this because I know I'm just going to hear objections on why they are so dissimilar, but every time I go to Miami Beach I just feel like it's a great ambition for Charlotte.

It's a city that has no meaningful mass transit, parking garages above ground everywhere, curb cuts for cars everywhere, people driving for the sake to drive (show off)....but, one of the most urban, walkable places anywhere.

The infrastructure is very cost efficient but effective.  The sidewalks are all very we wide (no useless planting strips).  Pedestrian medians.  Blocked off bike lanes.  Lots of connections to the boardwalk/Greenway.  Mix of dirt cheap old apartments next to $$$ condos.  Single family homes on small lots, and golf courses.  Retail all over, but only on main streets (not forcing it in places that it doesn't make sense).  TGIFridays within a block or so of a Michelin star restaurant,  and cash only dive bars. It also feels incredibly safe to walk anywhere on the island in the middle of night despite all the vices present, and homeless barely is noticeable.

Anyway, I just got back again, and felt like sharing that it actually is somewhat achievable for Charlotte, and not an old European city that is effectively impossible to emulate.

[Hushpuppy321]

17 hours ago, Professor said:

The only thing that impresses me about Munich other than historic structures is the underground where I usually eat. I like the Hofbrauhaus and visit the English Garden where there are some hot women almost nude in good weather, but after a few days in Munich, it's time to move on. Like most tourist cities, we become infatuated.  Don't see how we could model after it without destroying our modern architecture and reinstalling really bad plumbing like much of Germany has, i.e. steam heat, circa 1950s school buildngs. Good place to visit or enven live for a while. But, I'd prefer to keep Charlotte. Some of their tourist spots would be nice. 

Booking my next Solo Trip to the Munich English Garden....  in the summertime....

[RANYC]

On 1/11/2024 at 11:26 PM, atlrvr said:

I'm always hesitant to post this because I know I'm just going to hear objections on why they are so dissimilar, but every time I go to Miami Beach I just feel like it's a great ambition for Charlotte.

It's a city that has no meaningful mass transit, parking garages above ground everywhere, curb cuts for cars everywhere, people driving for the sake to drive (show off)....but, one of the most urban, walkable places anywhere.

The infrastructure is very cost efficient but effective.  The sidewalks are all very we wide (no useless planting strips).  Pedestrian medians.  Blocked off bike lanes.  Lots of connections to the boardwalk/Greenway.  Mix of dirt cheap old apartments next to $$$ condos.  Single family homes on small lots, and golf courses.  Retail all over, but only on main streets (not forcing it in places that it doesn't make sense).  TGIFridays within a block or so of a Michelin star restaurant,  and cash only dive bars. It also feels incredibly safe to walk anywhere on the island in the middle of night despite all the vices present, and homeless barely is noticeable.

Anyway, I just got back again, and felt like sharing that it actually is somewhat achievable for Charlotte, and not an old European city that is effectively impossible to emulate.

Much of Munich's built environment isn't really that old.  The city was reduced to rubble during WWII, and rebuilt itself to become one of Europe's most livable and sustainably designed and managed cities, with much of that growth and design happening post-war. 

 

It is a city with lots of walkability, but the car ownership rate in Munich is well over 50% and city balances acceptance and accommodation of cars quite well.  It does a great job of place-making, finding opportunities for engaging civic place-making anywhere the government owns/controls assets.  So while there would be constraints on Charlotte's ability to model Munich, I would't rush to dismiss it as impossible to emulate.  It is a highly desirable city and so housing goes for a premium versus other places in Germany, but housing product is varied and is more accessible than in Miami.  Munich is a highly-educated/highly-skilled place and all levels of government seem to be in service to the attribute.  Miami Beach doesn't seem to showcase or show off that attribute but I could be wrong. 

And by the way, I imagine a city like Munich, successful on so many fronts internationally, could be a model for a growing city without requiring full imitation.  Not proposing Charlotte imitate anywhere, but see the model and incorporate properties that will work here.  For example, Charlotte will probably never be able to imitate Munich's gun violence or property crime rate.

As for land-constrained Miami Beach, sure, there are elements to emulate, many of which we are already being incorporated here in Charlotte and increasing in prevalence over time.  Personally, I think Charlotte's center city is positioned to deliver a higher-quality and more inclusive urban experience in the near future than Miami Beach.  Of course, you must adjust for the fact that there are some who will always prize Miami Beach over Charlotte because the one place is book-ended by an ocean and an intracoastal waterway system with ample boating and water rec accesses.  Also, one place is pretty much summer roughly 340 out of 365 days a year.

Edited January 14 by RANYC

[KJHburg]

Poverty rates declining in the Charlotte region.

Poverty Rates Decline in Charlotte Region | UNC Charlotte Urban Institute | UNC Charlotte

[Professor]

On 1/12/2024 at 9:57 AM, Hushpuppy321 said:

Booking my next Solo Trip to the Munich English Garden....  in the summertime....

Just booked my hotel in Berlin (Mitte). I'll take notes.  I'll be going back and forth from Frankfort (Hb). I see Frankfort as much like Charlotte. It's a business center and not a big tourists draw. The only thing that I really would like to see in regard to copying Europe is Innercity transportation. There are only a handful of cities in the U.S, that are really close. However, in many European cities, it is very difficult to own a car due to restrictive parking, etc. I love public transport, yet I like the freedom of being able to have a car that is easily accessable as well. 

[rancenc]

The state legislature is exploring the competitiveness of NC in attracting more film production into the Tarheel State.

https://nsjonline.com/article/2024/01/new-committee-will-examine-film-industry-opportunities/

[davidclt]

9 hours ago, rancenc said:

The state legislature is exploring the competitiveness of NC in attracting more film production into the Tarheel State.

https://nsjonline.com/article/2024/01/new-committee-will-examine-film-industry-opportunities/

Didn't NC once have a booming film production scene? What happened to it?

Timeline of NC film industry policy, tax credit, grants | Raleigh News & Observer (newsobserver.com)

[CLT Development]

36 minutes ago, davidclt said:

Didn't NC once have a booming film production scene? What happened to it?

Timeline of NC film industry policy, tax credit, grants | Raleigh News & Observer (newsobserver.com)

The legislature CUT all incentives, and Georgia never even sent us a thank you note.

Edited January 23 by CLT Development

[ertley]

29 minutes ago, CLT Development said:

The legislature CUT all incentives, and Georgia never even sent us a thank you note.

Georgia wouldn't.

[davidclt]

10 hours ago, CLT Development said:

The legislature CUT all incentives, and Georgia never even sent us a thank you note.

I should have made part of the text blue. I guess our legislature showed those Hollywood types who was in charge? It seems like NC booms in spite of efforts from the rural/suburban parts of the state to take us back to a mythical place we never really were.

[CLT Development]

5 hours ago, davidclt said:

I should have made part of the text blue. I guess our legislature showed those Hollywood types who was in charge? It seems like NC booms in spite of efforts from the rural/suburban parts of the state to take us back to a mythical place we never really were.

correct.

[KJHburg]

From Yardi Matrix apartment reports Charlotte:   good news rents are softening but occupancy holding up despite massive number of completions and construction.

Multifamily fundamentals remained promising in Charlotte, despite negative rent performance amid robust deliveries and seasonal trends. On a three-month basis through November, rates contracted 0.6%, to $1,581, while national figures declined only 0.2%, to $1,713. However, the occupancy rate in stabilized properties stood at 94.1% as of October, pointing to solid demand. Nationally, occupancy clocked in at 94.9%. In the 12 months ending in September, the Charlotte employment market expanded by 3.6%, well above the 2.4% U.S. growth rate. Mirroring the national trend, most positions were added in leisure and hospitality, a sector that accounted for 18,700 jobs and marked a 13.5% expansion. Unemployment stood at 3.2% in October, 70 basis points below the national figure and 20 basis points above Raleigh’s jobless rate. Only one sector—manufacturing—lost positions (1,900), with some layoffs potentially stemming from technological automation. A total of 8,238 units were delivered last year through November, already surpassing 2022’s total (6,450 apartments). Meanwhile, the investment market softened substantially, mainly due to high borrowing costs. Charlotte saw only $1.8 billion in multifamily transactions, a significant drop from the same period of the previous year. However, the $234,476 per-unit price remained in line with the $235,207 average of 2021 and 2022""

Charlotte rents were down 0.6% on a trailing three-month (T3) basis as of November, to an average of $1,581. Meanwhile, the national rate clocked in at $1,713, a 0.2% decline. Year-overyear, rents in the metro slid 1.6%, mainly impacted by the large influx of new supply in the past three years. Since 2021, almost 26,000 units have come online in the Queen City""

Following its weakest year for deliveries since 2015—only 6,450 units came online in 2022— Charlotte’s multifamily inventory expanded by 8,238 units last year through November. That accounted for 3.9% of existing stock and nearly double the 2.1% national average. Along with Austin and Nashville, Charlotte had the greatest number of completions as a percentage of total stock across the top 30 metros that Yardi Matrix tracks. ➤ With 35,258 apartments under construction as of November, the metro’s construction pipeline remained robust. Roughly 85.0% were in market-rate developments and the rest were part of fully or partially affordable projects. Another 93,894 units were in the planning and permitting stages. ➤ Even though multifamily investors are still bullish on Charlotte due to its strong demographics, high interest rates and decelerating rent growth have thrown a wrench in some developers’ plans to launch new projects. In the first 11 months of 2023, construction starts decreased to 13,633 units, from 17,363 apartments in the same period of 2022.""

the report does state construction starts are decreasing which in my opinion give growth rates will increase rental rates in the next few years.   So if you are renting now lock down a longer lease period now.  

[KJHburg]

NC which has an excellent state park system that is mostly free unlike other states had record attendance last year.   And the acreage of the state parks is growing can't wait for this new state park to open outside of Asheville. 

State Parks System Grew in Visitation, Size in 2023 | NC State Parks (ncparks.gov)

""Twenty-seven of 42 units saw an increase in annual visitation from 2022. Rendezvous Mountain, a satellite area of Stone Mountain State Park, more than doubled its visitation from the previous year. The largest visitation growth for a state park was 95% — at both Mayo River and Morrow Mountain state parks.""

I have been to 35 state parks and just have a remaining few mainly in the west to visit.  I have been to every state park east of I-95.   So make 2024 you visit at least 3 no 5 new state parks you wont be disappointed.  

My favorites you ask Mt Mitchell, Jockeys Ridge, Raven Rock, Merchants Millpond, Mt Jefferson to name a few.  

[Take2]

On 1/25/2024 at 10:38 AM, KJHburg said:

F ➤ With 35,258 apartments under construction as of November, the metro’s construction pipeline remained robust. Roughly 85.0% were in market-rate developments and the rest were part of fully or partially affordable projects. Another 93,894 units were in the planning and permitting stages. ➤

No matter how many times I read these numbers I cannot wrap my head around how massive they are. There are 35,000 multifamily units under construction right now?! That's incredible.  I can remember back in the mid 90s when what was then called "The Grandview" was basically the only new multi-story apartments in the entire region. Fast forward 30 years and there are THREE multi-story developments in downtown  Concord no less. The Charlotte market is truly remarkable. Thanks for your post.

[carolinaboy]

23 hours ago, KJHburg said:

NC which has an excellent state park system that is mostly free unlike other states had record attendance last year.   And the acreage of the state parks is growing can't wait for this new state park to open outside of Asheville. 

State Parks System Grew in Visitation, Size in 2023 | NC State Parks (ncparks.gov)

""Twenty-seven of 42 units saw an increase in annual visitation from 2022. Rendezvous Mountain, a satellite area of Stone Mountain State Park, more than doubled its visitation from the previous year. The largest visitation growth for a state park was 95% — at both Mayo River and Morrow Mountain state parks.""

I have been to 35 state parks and just have a remaining few mainly in the west to visit.  I have been to every state park east of I-95.   So make 2024 you visit at least 3 no 5 new state parks you wont be disappointed.  

My favorites you ask Mt Mitchell, Jockeys Ridge, Raven Rock, Merchants Millpond, Mt Jefferson to name a few.  

I was canoe camping in Merchants Millpond years ago. We were having a nice paddle around and there was this very peculiar looking log floating nearby. Fairly quickly I realized the log was an alligator. In a panic we paddled over to a cypress tree and I grabbed onto it nearly putting my hand on a water moccasin. Fun times.

[KJHburg]

Best Performing cities by Milken Institute include Charlotte metro coming in at number 10.  We are bested by Raleigh Cary coming in at number 2 .   Austin #1.   

Large Cities | Best-Performing Cities (milkeninstitute.org)

Charleston SC #11

Myrtle Beach #19

Wilmington #21

Edited February 6 by KJHburg