1160 replies to this topic

[Seeker]

There's a new infill community on Central Ave. and Eastway.  DOes anyone think that  area is too far out or wouldn't be a good investment?

[atlrvr]

I can't place there being a neighborhood at that corner.  Are you sure you're not refering to citiside at Plaza and Eastway?  Or is this something new that hasn't started?

Anyway, my take on Central is that anything on the other side of briar creek (the creek not the road) is not a great investment.  It's still on it's way down, and has yet to turn the corner.

[Miesian Corners]

There's a new infill project on the way for Central between Thomas St and The Plaza by Tuscan Development (site of the old costume shop, et al).  I'd look there before buying beyond Brier Creek.  East Charlotte is having a rough time right now for resale.

[uptownliving]

atlrvr, on Apr 5 2005, 09:27 AM, said:

I can't place there being a neighborhood at that corner.  Are you sure you're not refering to citiside at Plaza and Eastway?  Or is this something new that hasn't started?

Anyway, my take on Central is that anything on the other side of briar creek (the creek not the road) is not a great investment.  It's still on it's way down, and has yet to turn the corner.

<{POST_SNAPBACK}>

Personally I would draw the line at somewhere around Eastway....there are a number of cute homes between Eastway and Brier Creek along Commonwealth...near the WTVI 42 studios.

[UptownJ]

first...

Can someone go into detail about what ever project this is and the one atvar mentioned.

Second...

I know ppl who are starting to looking to properties in that area for investment so somethings turning to that direction but I don't think they have gone past the creek yet... its a bit questionable still but it will change with time

[atlrvr]

I think Brier Creek and Commonwealth will be a good investment in about 6-7 years when that strip will be within walking distance to both the Central Ave. streetcar and the Independence LRT or BRT......until then, it likely will remain a somewhat sketchy area with lower than average appreciation.  What needs to happen is some of the public housing and low rent apts. need to be redeveloped, and that would be a huge boost.  Otherwise, the area is somewhat attractive for people to invest.

What Seeker was referring to apparantly was a new development called Medford Glen behind the Wendy's at Central and Eastway.  The houses are in the $140k-$180ks and are bungalow style.  The project I was referring to was called CitiSide at Plaza and Eastway, and offers single family, townhomes, and apartments with townhomes starting around $100k.  CitiSide is almost built out I believe, whereas Medford apparantly just started.

[UptownJ]

Thanks man

[monsoon]

This used to be a fairly desirable area of Charlotte (believe it or not) and it may very well return to that status.   First it is a diverse area.  It has access to a great deal of shopping.  Downtown is very accessable but it is far enough away where you won't have to deal with the negatives of the center city

Finally if they actually build the streetcar system out ot Eastland then the area will appreciate rapidly as it has been shown over and over that locales within walking distance of rail transit always go up in value quicker than those where it is really too far to walk.   I can see similar development like we are seeing on S. Blvd going down Central.  

From an investment standpoint, keep in mind that once it is known as a desirable place to live its already too late.

[Raintree21]

I would say if you have the money to buy it now, go for it cause it's eventually gonna skyrocket as NoDa expands out.  If it's too sketchy for you to live in just yet, rent it out to cover your costs, just do a good picking of who you let live there so it doesn't get trashed.  I could definitely see development occuring as the trolley goes in, just like South End.

[UptownJ]

But whats the likely hood of a trolly or LRT coming down Central? I have not looked at the proposed map for track lay out. I would love to see that area become more popular again.

I really think that most of uptowns surrounding neigborhoods are going to get more and more popular as the burbs expand and ppl want to live closer to the core without actually doing so. Thats one reason why noda is so popular (other than the great atmosphere and image it has created for itself). Some of those older areas have such great potential lets hope some developers see that and capitalize on it.

[monsoon]

The east street car system is in the 2025 transit plan so I would say there is a good chance it will be built.  BTW, this won't be like the antique trolley operating between the center city and southend, but rather modern steet cars similar to those seen in Europe.

My guess is this line will definately be built.   I don't think they will build the other line however, i.e. the circle line that is supposed to orbit around the center city within I-277.  No room and no need.

[Seeker]

On the charmeck.org website I think you can what the city plans to do with the Eastland Mall/Central  area but it seems a while off.

[Seeker]

I heard that Bobby Drakeford will be building 22 bungalow style homes in Plaza Midwood.  It may be called Plaza Midwood Village.  A realtor told me they'll be between 300-400k , 1300-2000 sq. ft.

[monsoon]

Indeed.  I have heard the same rumor.

[sfmartin]

atlrvr, on Apr 5 2005, 10:27 AM, said:

I can't place there being a neighborhood at that corner.  Are you sure you're not refering to citiside at Plaza and Eastway?  Or is this something new that hasn't started?

Anyway, my take on Central is that anything on the other side of briar creek (the creek not the road) is not a great investment.  It's still on it's way down, and has yet to turn the corner.

<{POST_SNAPBACK}>

I saw the test bores in the gravel parking lot of the costume shop a few weeks ago; anyone have any more info on this project?

[Miesian Corners]

sfmartin, on Apr 6 2005, 02:11 PM, said:

I saw the test bores in the gravel parking lot of the costume shop a few weeks ago; anyone have any more info on this project?

<{POST_SNAPBACK}>

Read post #3.  30+townhouses planned.

[Seeker]

sfmartin, on Apr 6 2005, 02:11 PM, said:

I saw the test bores in the gravel parking lot of the costume shop a few weeks ago; anyone have any more info on this project?

<{POST_SNAPBACK}>

I spoket to a rep. at Tuscan Develpoment.  I was told that they haven't settled on the price yet, but it will be a loft type condo for 1st time home buyers.

[ElricSeven]

Seeker, on Apr 6 2005, 01:20 PM, said:

I heard that Bobby Drakeford will be building 22 bungalow style homes in Plaza Midwood.  It may be called Plaza Midwood Village.  A realtor told me they'll be between 300-400k , 1300-2000 sq. ft.

<{POST_SNAPBACK}>

Do we know of any other single-family homes that are being built in Plaza Midwood?  I've got a friend that's really interested in buying there...

[atlrvr]

There are some homes on Club Rd......they are in that same general price range I believe.  Some of the older homes though are great....and possibly better quality than the new.  You can find an older home in the mid $200k's on up.

[ElricSeven]

atlrvr, on Apr 6 2005, 06:45 PM, said:

There are some homes on Club Rd......they are in that same general price range I believe.  Some of the older homes though are great....and possibly better quality than the new.  You can find an older home in the mid $200k's on up.

<{POST_SNAPBACK}>

I think they're more interested in building their own place in that area, they've already got a house that they rent out in P-M.  They moved out to Southpark to get more space, but have always wanted to return.