Hi all. Just a quick note to let you know that I've moved on to become associate editor of the Observer's editorial pages. Ely Portillo (email@example.com) has replaced me on the development beat. Please send him your thoughts and story ideas on real estate development in Charlotte.
Monday, November 24, 2014
Monday, November 10, 2014
There's been a lot of debate lately surrounding proposed rezonings in the historic Cherry neighborhood near the Metropolitan. Now comes news today that Saussy Burbank will be the builder of 39 single-family homes and two duplex lots there, with prices ranging from the high $400s to the low $600s.
Saussy Burbank will be the builder working with Sellars on the project. The homebuilder said today that lots will be made available for purchase in phases. The first phase will include six lots at the corner of Baxter and Main streets, with homes ranging from 2,900 square feet to 3,500 square feet and priced from $550,000 to $625,000. "The architecture will pay tribute to the style and vernacular of the surrounding neighborhoods," said Jim Burbank, a partner in Saussy Burbank. "It's important to us that we respect what's there. The real benefit for buyers is a new home -- and all the elements that go along with it -- in an older, close-in neighborhood."
A sales office and model home is expected to open in May 2015.
Wednesday, November 5, 2014
Real estate firms around Charlotte pretty much stopped building condos during and after the recent mortgage crisis and real estate meltdown. While apartment construction has come roaring back, and sales of new homes have as well, condos seem to remain out of vogue among developers. What seems to be replacing them, especially in well-established Southeast Charlotte neighborhoods, are high-end townhomes aimed at empty-nesters.
Among the latest in that line is MECA Realty's Rea Court at Colony project, a 10-unit townhome project on Rea Road, across from the Colony Place Shopping Center. Units there will start in the high $400s next week, with customizable New-England style architecture. MECA Realty's Jason Noblitt says the project is aimed at the sizable population of Southeast Charlotte empty-nesters who are growing tired of maintaining big homes in neighborhoods like Myers Park or Eastover and would like to downsize, but don't want to sacrifice high-end living touches for the convenience of a townhome.
Friday, October 31, 2014
Developer Daniel Levine's taken some interesting aerial pictures of the construction under way at the new First Ward county park near the UNC Charlotte Center City building. Check it out:
When I first got these from his PR person, Colleen Brannan, my first thought was, 'Boy, that helicopter sure was flying low over the site.' Silly me. In today's Age of Gadgets, I should have realized it was an Unmanned Aerial Vehicle (Attention FAA: I didn't use the D-R-O-N-E word).
Levine, answering my questions via email through Brannan, said he shot the photos in about 9 minutes with his DJI Phantom, which cost about $1,500. "Before, it would have cost me about $1,000 and two weeks to get those images," he said.
He's had it for about five weeks. Ben Wilhelm with Shiel Sexton Construction turned him on to the idea by giving him a live demo with a UAV. Levine thought they were some of the best aerial shots of the city he's seen in three decades. Levine said he's always been a photo enthusiast; his mom was one of the founding members of The Light Factory and had a darkroom at their house.
The photos show the park and related infrastructure work is well under way. The asphalt demolition is complete, Brannan says, and grading and utility work is in progress.
Friday, October 24, 2014
If you drive into uptown on the Brookshire Freeway, you've no doubt noticed construction on the SkyHouse apartment tower on North Tryon Street. If you're like me, you've been marveling at how fast they've been throwing that thing up. Yesterday, they topped it out at 24 floors, officially signaling the half-way point of construction that broke ground just in March.
The development team has built 11 of the SkyHouse towers in cities across the Southeast, including Atlanta, Orlando, Tampa and Raleigh. Mecklenburg real estate records show the team is planning a second tower right next to the one going up on North Tryon. The second one would go in at West 9th and North Tryon, a parcel currently occupied by the former Day's Inn motel. It would include an expansion of the parking structure planned for the original SkyHouse.
Wednesday, October 22, 2014
If New York-based Development Counsellors International is right, North Carolina and the Charlotte region should feel good about their economic development prospects. The firm, which handles economic development and travel marketing for cities, regions, states and countries, recently released a study that asked more than 300 corporate executives and site selection consultants what they thought of different areas. They named their top five states for business climate as:
- Georgia and North Carolina (tie)
- South Carolina
- Kansas City Area Development Council
- Charlotte Regional Partnership, Columbus 2020 (tie)
- Greater Phoenix Economic Council
- Greater Houston Partnership, Nashville Chamber of Commerce (tie)
- Georgia Department of Economic Development
- Louisiana Economic Development, Texas Governor's Office of Economic Development (tie)
- South Carolina Department of Commerce
- Michigan Economic Development
Monday, October 20, 2014
When I went to get my routine oil change at the Goodyear auto repair shop uptown this morning, I discovered some unexpected breaking news: the repair shop, at Stonewall and Tryon streets, has closed down.
According to the mechanic who walked up before I could exit the vehicle, the shop closed for good on Friday. The parking lot, normally full of cars left by busy uptown office workers like myself, was half-empty. Big oil barrels sat in one of the empty repair bays -- part, I supposed, of the process of tearing down and cleaning up the site. “We are closing that store,” Goodyear spokesman Jim Davis confirmed to me later. “It’s a difficult decision, but what’s going on there is it’s been an unprofitable store and we have an expiring lease.”
|Photo by Mark Hames|
Ostensibly, the shop's closing helps set the stage for the 27-story Tryon Place mixed-use development Crescent Communities plans to build on the three-acre site. Crescent's plans for the site include office, retail and hotel components, but the company has said it won't announce a start date for construction until it lands an anchor tenant. I'll be checking in with them, and will update this post when I hear more.