Charlotte Condo Development News

[TarheelsCubs]

Wow, more towers for Charlotte? Even if just half of these get built the skyline will grow a ton!

Just imagine if it continues at this rate for the rest of 05. There is no telling how many buildings could be proposed by the end of the year! Booooooom

[skysdalimit]

Good, I hope those crappy hotels shut down, newer, better ones will just come in anyways.

[Route]

yes but out of all these proposals, are any actually being built yet?

[Southend]

Originally Posted by Route

yes but out of all these proposals, are any actually being built yet?

courtside is currently u/c. and trademark and novare's tower are starting up in the next couple of months.

[atlrvr]

There is a better rendering out now of the Ghazi project....it is part of a marketing package that uses some of the old renderings plus new renderings of the retail portion so it's a bit confusing, but it's definetly a clear view of the residential tower which is now listed at 44 stories.....interstingly though the website has been refined to say "second tallest tower in Uptown Charlotte" instead of "second largest" that was originally stated........anywhere here is the link to the marketing package...it's a .pdf.

http://www.theghazicompany.com/pdf/EpiCentre_lowres.pdf

[atlrvr]

It is an intersting looking building....almost like a lighthouse....I hope the top portion of the building is public for an observation deck maybe.........anyway, it looks like they have signed some more tenants and oddly, they still say it will be done by the end of 2005......maybe the retail/entertainment perhaps, there is no way they will have the tower done.

[skysdalimit]

Yay, observation tower! maybe

[Justadude]

To observe what? Southpark?

[oresaw]

The PDF list Lucky Strike Lanes as one of the tenants which is exciting as I think this is probably the best bowling alley operator out there right now. Check out there website.

Secondly, The tower in the rendering looks a little ho-hum. Of course the rendering is sketchy and I guess I should reserve judgment for a little more finished product.

I'm still anticipating what other tenants are coming. It says "an upscale steakhouse out of Atlanta” I wonder which steakhouse? It also says "the most talented restaurateurs and club owners in the country” I wonder what tenants that alludes to? I've never heard of McFadden's Pub. Anyone know anything about that?

I don't see how this can all happen by the fall 2005 completion date projected on the PDF.

[SmellyCat]

So do you think there will still be a merry-go-round? Maybe they'll put it next to the bowling alley.

[oresaw]

Maybe they will!

[atlrvr]

Here's the next Furman project.....This is at 1st and Elliot St. back in 3rd Ward near Frazier Park and I-77 and Morehead.

www.1strowwarehouse.com

I kinda like the varying relief of this project and the under building parking.

[norm21499]

It looks like a really nice project.

[hotspottny]

Originally Posted by Justadude

I wonder, though, whether the financiers might be justified in having a cautious attitude toward any more development. Though Charlotte is a fairly wealthy city, it's not fantastically rich. I just don't think there are that many people in the city that can afford $800 per month for an apartment, and God knows how much for a condo unit. I really do think the reason that Charlotte (and so many other booming cities) have seen so much suburban sprawl is that most folks would prefer to spend less than that per month on housing costs and have more space to show for it.

Of course, it would be very very different if downtown Charlotte were like downtown Charleston or New Orleans. But for the time being the downtown area is basically a business district with most of the really fun and interesting stuff located away from it. Being near the skyscrapers really doesn't benefit you that much unless you work in them. Combined with the lack of amenities downtown, it seems that you'd be just as well off buying a full-sized home in one of the city's neighborhoods.

I guess my point is: I think Charlotte really has limited potential as far as residential development goes. Unless there's some serious investment in building cultural and public institutions downtown, there's really no sense in investing tons of money in a condo when you can get more for your money in the surrounding area and be just as close to everything but the office.

I totally disagree with you about not enough of people in this city to afford 800 month condos,lofts downtown.....There are plenty people that can afford it and most people moving here are people who want to live downtown thats why as soon as the word gets out about new residential towers and etc... alot of them sell out before they are even finished... As far as the thing about the downtown area there is alot to do in downtown on everyday of the week and there are always alot of people downtown ,I live downtown.AS far as Charleston goes from my visits there to see family Charleston's downtown life isn't nothing compared to Charlotte,Nashville and even Jacksonville.IMO(No disrespect)

[Justadude]

Originally Posted by hotspottny

I totally disagree with you about not enough of people in this city to afford 800 month condos,lofts downtown.....There are plenty people that can afford it and most people moving here are people who want to live downtown thats why as soon as the word gets out about new residential towers and etc...

Possibly. But the market isn't unlimited. Considering how quickly it's booming, there has to be a point of stagnation somewhere, and right now it's hard to tell where that line will be. I certainly hope that there's enough wealth and demand to support continued condo building, but I have my doubts... especially if the economy drops off any more.

As far as the thing about the downtown area there is alot to do in downtown on everyday of the week and there are always alot of people downtown ,I live downtown.

I don't know if I'd say there's a lot to do all the time. It's definitely got more "buzz" than it used to, but it's not like there's a 24-hour district or a retail area. There are some pretty big gaps still left to fill, many of which are in proposal phase and should be coming along sometime soon.

AS far as Charleston goes from my visits there to see family Charleston's downtown life isn't nothing compared to Charlotte,Nashville and even Jacksonville.IMO(No disrespect)

Are you serious? Charleston's downtown is one of the most active in the South. It certainly compares to Charlotte's and Nashville's (probably a little better than Charlotte), and is definitely better than Jacksonville's.

[atlrvr]

These renderings are now on Ghazi's website......this looks to be around 45 stories (unlike that last rendering) and I really like the public areas on these renderings better. The blue glass is a nice touch in the theatre rendering, though I hope the tower uses multiple colors to truly stand out......all I want is for the Times Square Westin to be duplicated here......

Black and white rendering of entire project
http://www.theghazicompany.com/image...ntre_large.jpg

Color rendering of Plaza area, theatre (EpiCinema....yuck), and the Lucky Strikes Bowling Allys
http://www.theghazicompany.com/pdf/EpiCentre_cinema.pdf

[oresaw]

Charleston does have a booming downtown full of retail, dining etc. but one huge problem Charleston's downtown faces is that it is so expensive to buy a home there that only extremely wealthy out of towners can really afford it. The lack of full time residents is starting to show and some of the businesses that target full time residents are having to relocate to places like Mount Holly leaving only destination establishments downtown. Downtown Charleston can get pretty sleepy on a weekday night during the winter months.

On a second note, I don't work uptown but would absolutely live there. Everything I do seems to be in the center city somewhere whether it's in Dilworth, Elizabeth, South End, or NODA and living uptown provides a tremendous centralized location to engage in all that all of these neighborhoods have to offer. The one thing lacking is retail but that can be solved with a short jaunt to SouthPark and the retail offerings of Dilworth and SouthEnd shouldn't be ignored. As far as "strip mall" offerings, sure they can't found in the center city but I rarely go to those places anyway. For me it would make sense to live in uptown and make the occasional trip to the burbs rather than live in the burbs and make daily and sometimes twice daily trips into the center city.

[CLTfanatic]

does anyone have anymore info on when this project would start, they are still projecting an 05 completion?

And what about some info on who would be in this entainment complex? At one time I heard Fox sports grille had signed up. Then I saw a rendering and noticed that they had guitars lining the sidewalk, might this mean a Hard Rock Cafe????

[atlrvr]

Well....they already have the demolition permit to remove the existing building. They will need site plan approval for the project though. They haven't received financing yet, but they are in serious talks with a lender.......I could see construction starting by early to mid summer......the two smaller buildings could take as little as 8-10 months though the tower will take closer to 2 years.......just in time for the LRT to start.....

[atlrvr]

I don't know about a Hard Rock Cafe......they are growing out of fashion now that they are franchised and everywhere......still, it wouldn't be bad for Charlotte. I just hope it's not too many restraunts and hopefully a good number of local tenants will sign on....