The Good News Report

[KJHburg]

This is good news for our local tourism industry the future ACC tournaments here and this was required they be in NC with the incentives offered in their new HQ here in Charlotte.

Look at those ACC basketball championship games coming.

ACC Announces Future Neutral Site Championships to be held in North Carolina - Atlantic Coast Conference (theacc.com)

[KJHburg]

finally getting around to reading my Biz Journal book of lists and all kinds  of facts to impress your friends at a Super Bowl party later today LOL

like this of the 50 largest publicly traded companies based in NC did you know.....

that 26 of the top 50 are based in the Charlotte metro including 14 of the top 25

or that 13 of the top 50 are based in the Raleigh Durham area

or that 6 of the top 50 are based in the Greensboro Winston Salem Triad area 

rest are scattered around the state with 2 being HQed in Wilmington.....

[KJHburg]

Charlotte ranks in the top 10 in CBRE investment and property rate of return report.  (along with Raleigh, Nashville and the usual suspects) 

2024 U.S. Investor Intentions Survey | CBRE

[KJHburg]

Mr Tepper's Charlotte FC had a successful start yesterday in 2 ways attendance and wins.

""All it took for Charlotte FC to win its 2024 season opener on Saturday was just one goal.

The black and blue opened the latest MLS season at Bank of America Stadium with 62,291 fans in attendance as they hosted New York City FC.""

in fact Charlotte FC has the 2nd highest attendance in the MLS which is great last year besting all major cities in the country with teams except for Atlanta.  

2023 MLS Attendance - Soccer Stadium Digest

[rancenc]

Economic impact of the state's recent legalization of sports betting in North Carolina.

https://ocnjdaily.com/economic-benefits-nc-approve-betting-legislation-development/

[tozmervo]

1 hour ago, rancenc said:

Economic impact of the state's recent legalization of sports betting in North Carolina.

https://ocnjdaily.com/economic-benefits-nc-approve-betting-legislation-development/

I'm pretty agnostic about legalization of gambling, but that story/report is trash and reads like it was written by a sports gambling lobbyist. 

[atlrvr]

https://ocnjdaily.com/author/chrisbates/

^^^ cause it's written by a bot

[rancenc]

Would never have known that this recreational industry had such a large impact on the state, especially in the Western part of NC.

https://www.themountaineer.com/outdoors/landing-the-big-one-rise-in-trout-fishing-supports-outdoor-economy/article_70286862-d207-11ee-8297-4b65d4bf3f07.html

[KJHburg]

not sure where to put this but @CLT Development has proposed this neighborhood map. 

what do you think?  Dallas has a downtown and an uptown.  Uptown Dallas is north northeast of downtown.  

in this map Uptown Charlotte is northeast of the Downtown area.     This downtown area will be home to the tallest buildings in Southend by far.

From Twitter X

""My reasoning: 
• Don't let 277 be a boundary, maybe if we ignore it, it will go away.
• Part of South End should become "Downtown" because that area will be much more urban.
• Some neighborhood areas have aesthetic boundaries that supercede current lines.
• Make Midtown real
Quote
Roads Second Development
@CLTdevelopment
·
11h
A redrawing of neighborhoods in inner city Charlotte that absolutely nobody asked me to do, I was just bored during the Hornets game.""

 

 

Edited March 6 by KJHburg

[Norm2]

I don't think we need a Downtown moniker for any of our neighborhoods. I don't think we need a Midtown either. Let our neighborhoods be unique. We don't need to copy the names of the major districts of Manhattan that many other cities have copied.

[1020AM]

29 minutes ago, Norm2 said:

I don't think we need a Downtown moniker for any of our neighborhoods. I don't think we need a Midtown either. Let our neighborhoods be unique. We don't need to copy the names of the major districts of Manhattan that many other cities have copied.

But the names downtown and midtown have existed in this city in some form, forever. We always called uptown, downtown growing up. I just embraced calling it uptown when i moved back four years ago.  My first job was at Midtown Square Mall.  

[CLT Development]

43 minutes ago, Norm2 said:

I don't think we need a Downtown moniker for any of our neighborhoods. I don't think we need a Midtown either. Let our neighborhoods be unique. We don't need to copy the names of the major districts of Manhattan that many other cities have copied.

You see, your argument is exactly why I think we do need some additional neighborhood delineations. I don't think Dilworth wants to claim what's happening on Morehead Street as their's because it certainly does not match the character of Dilworth. The same can be said for Cherry and Elizabeth, the character of those neighborhoods are not reflected in CPCC, Metropolitan the hospital districts, and Elizabeth avenue (does Elizabeth have TWO CBDs?), This diagram addresses current growth patterns and helps brand areas that fall into gray areas into a more cohesive brand story, while letting those core neighborhoods retain their character and uniqueness. 

Edited March 6 by CLT Development

[videtur quam contuor]

South End was a manufactured branding exercise and completely inorganic. It seems to have taken well. I was originally disappointed that areas that were considered Dilworth were drawn into the nascent South End but the success is apparent so I withdraw the objections. 

[DownEast]

It seems by trying to manufacture a downtown out of thin air overtop of the already wildly popular South End might make things even more confusing? With Downtown/Uptown being interchangeable for all these years and to move the DT moniker onto such a small piece of real estate outside the loop, perhaps it's time to drop this folksy Uptown business once and for all. I love Charlotte and I'm aware of the history but honestly... How many precious minutes of life have we lost having to explain the whole "Uptown is Downtown" thing. Let Shelby carry the torch. We got bigger fish to fry and maybe, in time, a more traditional style uptown will develop in the future. 

[Norm2]

1 hour ago, DownEast said:

It seems by trying to manufacture a downtown out of thin air overtop of the already wildly popular South End might make things even more confusing? With Downtown/Uptown being interchangeable for all these years and to move the DT moniker onto such a small piece of real estate outside the loop, perhaps it's time to drop this folksy Uptown business once and for all. I love Charlotte and I'm aware of the history but honestly... How many precious minutes of life have we lost having to explain the whole "Uptown is Downtown" thing. Let Shelby carry the torch. We got bigger fish to fry and maybe, in time, a more traditional style uptown will develop in the future. 

I don't disagree that our changing neighborhoods may need to rebrand to be more cohesive. Instead of a "downtown" in South End, just expand the boundaries of South End. Just as First Ward and Second Ward are sub-neighborhoods of Uptown, Wilmore Gold District and Dilworth can be sub-neighborhoods of South End. They pretty much already are except for on paper. Same thing for "Midtown", Elizabeth and Cherry can be sub-neighborhoods of that area.

[rancenc]

Looks like fashion giant H & M is scouting the state for a joint venture to recycle used clothing!  No specific site as been identified at this time though.

https://businessnc.com/hm-plots-n-c-plant-for-recycled-polyester/

[KJHburg]

this could be good news or bad news depending on your view of it. 

How the money will be allocated collected by the state of NC through its taxes:  I have not seen this before. 

""North Carolinians bet $198 million and won $142 million during the first week of legalized online sports betting, according to figures disclosed today by the N.C. State Lottery Commission.

Sports wagering tax and fee revenue in the state is projected to be $74.9 million in the fiscal year that begins July 1, growing to $100.6 million three years later, according to the Fiscal Research Division of the legislature. Net state impact from sports betting revenue is anticipated to be $53 million to $72 million annually over the next four years.

The online sports betting law mandates that state revenue be spent on the following (annually):

$2 million for gambling addiction and education programs
$1 million for youth sports equipment or public facility upgrades benefiting youth sports
$300,000 each to 13 public universities to support college athletic departments (including UNC Charlotte and five historically Black colleges and universities; N.C. State and UNC Chapel Hill are excluded)
$1 million for amateur sports grants
Any additional available revenue to be divided as follows: 20% to the 13 public universities receiving athletic department funding; 30% for a new state-operated major events incentives fund; and 50% to the state’s general fund""

according to the state's projection in the first full month $600 Million will be bet.  

NC sports bets on pace to hit $600 million in first month - Charlotte Business Journal (bizjournals.com)

I wonder what if just half that amount was donated to charitable causes in the state what a difference it would make.  

[videtur quam contuor]

Just as with Lottery income for the state, money is fungible. Money from the "education" lottery was supposed to go to education but the income goes to the general fund and not education specifically. There is no requirement that lottery money go to education and the education area of the budget cannot show an increase of income due to the lottery. It is all clouded in ambiguity. Thus my prediction that this money will disappear into a budget committee in Raleigh and no one but perhaps a few of those members will ever know how it is allotted.

https://publicschoolsfirstnc.org/resources/fact-sheets/the-facts-on-the-nc-education-lottery/

(If we had better education we would have fewer gamblers, thus the incentives are reversed)

[KJHburg]

Somewhat good news Charlotte is better than most of the large metro areas in affordability.  

This study examined how long it would take the average person to save 20% for a downpayment for a median list price home in the area based on the median income. 

Here's How Many Years It Takes to Save for A Home In Your City - 2024 Edition - RealtyHop Blog

Charlotte comes in #53 around competitors like Raleigh Durham Atlanta etc.  However, Nashville is a far more expensive place to buy a home due to around the same median income but a much higher median home price.

The top 10 include of course many California cities, NYC and Miami which has a lower median income but relatively high median home prices.  This is the type of list you want to be down the list on like Charlotte is.  

[tozmervo]

Great. The average Charlottean can afford to buy a house in 5.4 years. Housing crisis solved. 

 

[KJHburg]

Apartment rental rates in Charlotte have flattened to slightly declined.   From Yardi Matrix here are some regional comparisons.

Columns from Left to Right.  
1. Year over Year Rent growth March '24
2. Forecast at year end of 2024 rent growth
3. year over year job growth last 6 months Dec 2023
4. completions as a percentage of stock March  '24

Charlotte -0.8% 0.1% 3.1% 5.5%

Dallas -1.6% -1.0% 3.7% 2.6%

Orlando -2.0% -1.5% 2.2% 4.2%

Raleigh -2.2% -0.6% 3.7% 5.0%

Portland -2.2% -1.6% 2.1% 3.1%

Nashville -2.4% -0.6% 2.7% 4.8%

Phoenix -2.6% -1.4% 1.9% 3.4%

Atlanta -2.8% -0.9% 2.2% 3.4%

Austin -5.9% -3.5% 2.8% 5.0%

 

look at our job growth 3rd column from the left.  Notice also completions as a percentage of total market which ours is very high which means lots of recently built apartments.  

[KJHburg]

NC is ranked in the top 5 of the best business states by influential Chief Executive  Magazine.  They poll CEOs who are the ultimate decision makers.  

Texas and Florida Top Chief Executive Magazine's 2024 CEO Survey of Best & Worst States for Business (prnewswire.com)