When Forestar Group bought a prime parcel of land at Kenilworth Avenue and Morehead Street, the company demolished an old, vacant building that had become an eyesore to make room for a high-end mixed use development featuring 379 apartments and up to 25,000 square feet of retail.
But since that demolition and others nearby, the site has sat mostly quiet, fenced off and vacant. On the same block, Solis Dilworth and Crescent Dilworth have come out of the ground, with 196 and 296 units respectively. Both of those upscale complexes are set to be finished this year.
On Monday, I called Texas-based Forestar to see what the latest news is and whether the company has any more information on its project, or a timeline. Spokeswoman Anna Torma said Forestar doesn't have any updates at this time on when the company might move on the site.
A check of county building permits showed no permits have been pulled for most of the site since the demolitions. But one set of permits, for "Mega East Morehead Apartments," was issued in December for $1.9 million worth of work on the site.
Another complicating factor could be Forestar's corporate situation. The company is in the midst of a fight with an activist investor group seeking changes to the board, and recently announced it is "exploring strategic alternatives" for its oil and gas exploration business. That usually means a sale or breakup of the company - a pretty turbulent position for any corporation.
So where does all of this leave those Charlotte apartments? For now, on the drawing board. We'll follow up and keep track if that changes.
Tuesday, January 27, 2015
Still waiting on apartments on Kenilworth
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6 comments:
Maybe Forester has second thoughts, remembering how Dallas was sooooooooo overbuilt with apartments at one time that formerly luxury units became section 8 housing and desirable neighborhoods turned into ghettos for iimmigrants. Won't happen in Dilworth because it is too upscale, but i fully expect to see it hapoen further out South Blvd, along the rail line. Another East Charlotte in the making.
nice, positive post @10:55.
I've said all along it was in the city's best interest to not allow this project and instead work with CMC to widen and expand turn lanes in the intersection to resolve "the kink" in Kenilworth as well as allow better traffic flow for emergency vehicles trying to get to the hospital. The majority of MEDIC calls for the city of Charlotte have to pass through this very congested intersection. Widening and expansion of the intersection may help save lives.
Anonymous 12:55 can't handle the truth.
It's a mixed blessing for motorists. Traffic is congested enough already with the construction on the opposite corner of Kenilworth and Morehead.
I agree with Lenn. I always shake my head at these developers that just want to build without doing anything about what surrounds what they're building. Some of the land on both of these tractsshould have been reserved to widen the road, and the traffic lights aren't run properly (there's no dedicated time for left turns from Morehead) and as mentioned, it's a major undertaking for ambulances to navigate the congestion. With the 2 complexes being built now, Forester is smart to wait.
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