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Everything posted by queensguy06

  1. About what? SoFi is headquartered in San Fran and heavily invested throughout CA. Hell, the new rams/chargers multi-billion dollar stadium is SoFi Stadium, which I’m sure cost a pretty penny for naming rights. Golden Pacific is HQ in Sacramento. If the insinuation is offices in Charlotte I don’t see any connection whatsoever. EDIT: I was curious and looked up the naming rights agreement with SoFi and the stadium - 20 year naming rights term worth $625 million.
  2. Off Topic: Having left Charlotte several years ago I forget the ever present plume of the nuclear plant during winter. I grew up in Tega Cay on the lake pretty much right across from the nuclear plant. Every year we got a package from Duke/Catawba Nuclear Plant with contingency plans/evacuation routes in the event of a leak. They would include potassium iodide pills for each member in the household
  3. The website is actively being worked on and at Riverside's main website this project has moved from solely being in the "News" tab to their "Portfolio" tab; definitely looks like they are actively updating the portfolio description and renderings. All of this has happened in the last 24 hours: https://riversideid.com/portfolio/150-north-riverside-n7pwr Keep an eye on that site!
  4. I would imagine now that the land deal has closed (on schedule) and with a tentative groundbreaking in less than a year, that an updated website and renderings will follow shortly - even in a matter of weeks. Maybe @TheRealClayton has some more insight on a scheduled release date. I don't know if this has been discussed, but in the rendering below it looks like the office tower is on the right/further south with the residential building closer into downtown on the left. Most images I've seen of this project are a more cropped in version of the one below. Lastly, this is being labeled as a three tower project; I'd assume the 650 residential units are split between two towers; I haven't seen anything mentioned but could there potentially be a hotel component included in the final buildout?
  5. Paging @Conformity if he even still lurks on these forums - it's been a few years. Also, Conformity Corp. website is outdated by 2+ years with the latest project in their portfolio completing in 2017 - around the same time as Conformity's last post on this board. Are there tea leaves to be read by this?
  6. There's more going on in the reflection of the glass than inside It's what I picture an art gallery to be....without any art.
  7. We are talking about two completely different things here; my viewpoint is that of the developer building for current and anticipated needs of their clients/customers. Ain't no developer going to build a 10 mile light rail line so they can build less parking spaces. I do not disagree with your sentiment about mass transit - but that falls solely on government funding and planning. If Charlotte had a mass transit system on par with those you mentioned, there is no doubt that developers would build adapting to that system to accommodate their client needs. But that is not the system we have, so developers adapt accordingly. Again, I am not disagreeing with anyone here about the issues relating to an auto-centric/car dependent urban core. But the wheels set in motion to get us to this point started decades ago. Charlotte is still over a decade away from seeing a second light rail line. And two light rail lines isn't going to change the need for the automobile outside of small TOD nodes along the lines. This sentiment that developers should just build less parking spaces to spur a more walkable/pedestrian friendly neighborhood is a red herring. At this juncture, what Charlotte really needs to reverse the current trends is something on par with Denver's FasTracks Program. "FasTracks is RTD's voter-approved transit expansion program - the largest in the nation - that is transforming transportation through the Denver metro region. Since 2004, we've built 25.1 miles of light rail track and 53 miles of commuter rail track, launched the Flatiron Flyer bus rapid transit service, and opened an intermodal hub at Union Station right in downtown Denver."
  8. An eye for tomorrow would be akin to installing more EV charging stations as that's where we are headed in the next 10 years; what you are talking about is a full revolution of the transportation sector based on unknown needs 30 years from now. I get it and I agree - having stroll districts and walkability in neighborhoods is very appealing. Who doesn't want that? But I'm also realistic about a number of things. As I mentioned, development is reactionary. The reason podium office building is all the rage in Charlotte is because at this current moment there just is no other way to get to the office. That Lowes tower in South End most likely will have employees coming in from Fort Mill to Matthews and everywhere in between. The one train line in the entire metro isn't a substitute. And this is not going to change in the next 10-15 years. And because of the aforementioned, parking becomes an amenity and stokes competition of the similar in other spec office buildings. If I'm a business looking to hire/retain employees and I have two options for office space - one with on site covered parking and the other with shared space in a deck 4 blocks away - it's going to be a tougher sell to say, "hey, I want you to commute 25 minutes and then park in a deck and walk four blocks." I do believe that city planning should be putting resources into development of strategies that put Charlotte in a position to cultivate environments around new modes of transit (I do question the ineptitude of the local government and political will power to do this, as seen in the current transit debacles plaguing the city). But realistically I just don't think we are quite there yet. These office towers being built in the heart of South End aren't prefab big box stores/dealerships sitting on undesirable land along Independence and any correlation between the two is disingenuous; the idea that a 20 story office building in South End would become obsolete to the point of "urban decay" even in 30 years because they have podium parking is laughable. If the prefab buildings were anything but just that they would most likely have been renovated at some point in the same way that the Varnadore is currently. I have more faith in human ingenuity and capital as drivers of change than bureaucracy.
  9. I would add to this the inability to predict future transit needs; development is reactionary to emerging technologies. First, we are talking about an environment built on technology still 20-30 years out at the earliest. Auto manufacturers are shifting to all electric options into the 2030s. There is still a LONG way to go on fully autonomous vehicles. What does ride sharing look like in this future? Drones most likely will become more prevalent but even that is not guaranteed and is in its infancy. What mix will personal electric mobility such as e-bikes, scooters, or some yet to be invented people mover play in this future environment? Will more than 50% of the workforce be working remote/from home? My point being is that as a developer, even if I am planning for the future, there is too much uncertainty that far out to warrant building infrastructure at high initial cost on a gamble that I've predicted the right transit mix and work environment 30 years from now. And to atlrvr's point - it still doesn't solve the issue of my current needs today and 10 years from now to attract businesses and their workforces. I need to maximize my return from day 1 as opposed to building for a potential that may not materialize when that future earned dollar is worth less than today. I do believe that we will see a shift in building design based around future transportation needs as new modes of transportation are fleshed out and become available to the general public, creating a need to accommodate said technologies. However, there isn't even consensus on this forum of what that looks like in 30 years other than "car bad."
  10. Agreed - the rendering below gives a good view of the support structure. The glass panels and lighting look to start below the top two concrete "floors" that conceal the core and elevator shaft which will give it a more dramatic appearance once completed.
  11. THIS is the question - I'm not sure how they got to $85,718,000? Denver bus terminal cost $219 million in 2016 with 22 bus bays and parking for an additional 6 buses. Current CTC hub accommodates 25 bus bays (20 inside the station, 5 around the station on surface streets). I'd assume they would need at least 20 bus bays for the new underground terminal just to maintain the current system.
  12. As mentioned above (and in photos below), here in Denver the bus terminal is underground. The concourse feels like an airport concourse with glass windows and doors separating the concourse from where the buses arrive/depart at each "gate." And I assure you the majority of RTD's bus fleet is NOT hybrid/electric. Not only that, as passengers do have to walk from the concourse to the bus, the entire system is ventilated so people aren't sucking in bus emissions - just like every tunnel ever built in the last 40 years. The concourse is more for noise reduction and climate control.
  13. I believe I've only seen one of these renderings of the library. I'm assuming the closure in October was to begin removing and storing the contents of the current library, which I'd imagine will take 6 months? Possible groundbreaking/demo Q2 next year? The architect's website has a spring 2021 start with completion mid-2024 which obviously didn't happen: https://www.clarknexsen.com/project/charlotte-mecklenburg-new-main-library/
  14. I'm not sure if there has been an official name for this project announced yet (or the office tower portion at least), but I think a safe bet would be 1111 South Tryon. The domain name was scooped up on August 7th of this year, right around the time Riverside filed a pre-submittal development document in Charlotte. The first mention of the development I can find was from the Charlotte Business Journal on August 10th. This also falls in line with the naming of the other projects in Riverside's portfolio. Additionally, it could point to this tower being spec office with no major tenant at least as of the filing in August (this could have changed since).
  15. This is probably the project that I have been most amped about in some time, at least since DEC. There are so many reasons to like where this project currently sits, from the location to the developer. To me, it's one of those projects that can be transformative beyond it's actual buildout (i.e. extending Uptown into SouthEnd, spurring further discussion of a cap over the Belk, altering the skyline in height and aesthetic, etc.). Now for my armchair mathematics on what my guess is for height/floors assuming the 1.2 million sq.ft. is the final build - obviously these numbers will be based on floor plate size, so I've given a range and then my prediction: Low end: 41 stories @ 581' High end: 52 stories @ 737' My prediction: Third tallest building in Charlotte with 48 stories and 680'. Talk amongst yourselves.
  16. Pure spec is not that far of stretch for this building. Riverside announced a spec office tower here in Denver back in January 2020 that's 30 stories & 700,000 sq.ft. Now that the pandemic is subsiding, they are actively pushing this project forward, even with rather grim numbers in the market currently. As has been mentioned somewhere above, they are looking to capitalize on the need for companies to attract employees back to the office with higher end amenities. Riverside's own marketing material highlights the current state of the Denver market: The volume of tenants actively seeking space in the Denver-area market at the end of the second quarter remained down 32% from February 2020, although an additional 250,000 square feet of demand returned to the market during the quarter. The subdued demand has been coupled with the delivery of 1.4 million square feet of office space this year... An additional 833,000 square feet of office space remains under construction, which JLL predicts will lift vacancy rates further. Riverside is betting that 1900 Lawrence will benefit not only from its amenity package, but also from its location in an area of downtown Denver...that appears poised to densify further in the coming years. The company seems to be taking the same strategy post-covid that they started pre-covid with projects completed including a 55 story, 1.5 million sq.ft. and 54 story 1.2 million sq.ft. spec office buildings in Chicago, with a third tower at the same size completing Q1 next year.
  17. I would have agreed with that statement 6 months, 1 year ago when there was less certainty around planned vaccinations and no end game plan for the pandemic. But this statement is completely irrelevant in April of 2021. We are weeks away from the national government rolling out vaccinations for ALL adults with most states easing restrictions across the board. By end of summer it looks like we will be in a fairly pre-pandemic state of operations. And this hotel wouldn't even be completed until 2022-2023 as is - I would think the most ideal time to open a new flagship hotel. Sure, we will see some changes in work environs with more work-from-home positions than pre-pandemic. But people will still be traveling, sporting events and concerts will be in full swing, conventions will make a comeback, the list goes on. If the reason this has stalled is because it's become a money pit at time when financing and cash on hand is low, then say that. As I typed this, one reason did come to mind for a hold and that is material costs. I don't know about steel/metals, but lumber has skyrocketed in price over the past year.
  18. This may be a silly question, but can someone explain to me the logic behind 5 lanes of terminal roadway with only one of those lanes appearing to have curbside access for dropping off?
  19. https://www.charlotteobserver.com/article249311860.html Looks like because of a census delay until Sept. 30th they are looking to postpone elections for this year until next and hold back to back municipal races in 2022 & 2023. Why this is relevant to this topic is it also affects the transit tax: If the City Council postpones the election, Charlotte may also need to rethink its controversial sales tax referendum initially targeted for this November. Baker said the Council cannot pursue a standalone ballot referendum for “1 cent for mobility tax” — a focal point of the city’s ambitious transportation plan to expand light rail throughout Mecklenburg County, plus connectivity through greenways and bikeways. Leaders in north Mecklenburg are skeptical that a long-promised Red Line, stretching from uptown Charlotte to the Lake Norman area, will come to fruition. “We might actually benefit from having a more settled situation this year than it looks right now,” Driggs told the Observer Wednesday. “In my mind, we still have some work to do in order to persuade the public that we are kind of unified and everyone is on board.” Heberlig cautioned that consecutive election cycles might hamper city government. If members are elected for just one year, they automatically find themselves in campaign mode when sworn into office.
  20. The work from home trend was well on its way before the pandemic hit as a natural progression of the continued push by companies to squeeze as much productivity out of employees as possible. You can see this trend from the mid-century "Mad Men" style work environs to the cube farms of the 70s-90s humorously depicted in "Dilbert" comics and "Office Space" to the more organic dot-com era recreational style work places. It was just a matter of time until innovation and technology allowed for this transition, and COVID has simply sped that process up, to the detriment of some employees as mentioned by Urban Cowboy. I can theoretically get more production out of a salaried worker if they can roll out of bed, grab a cup of coffee, and be at there work space at 8:00am where they will work until 5:00 or 6:00pm with intermittent breaks as opposed to making that employee commute one to two hours a day to a centrally located office. In addition, that salaried employee tends to feel more empowered around their schedule if I say, "Hey - start around 8:00am and just get your hours in for the day as you see fit and as demand requires. If you need to go to a doctor's appointment at 11:00am just make sure you are communicating with your team." The idea of a regular 9-5 job has been eroding for 20 years. I think SouthPark is spot on with how this transition will continue after the pandemic has subsided - mixed scheduling of split office time/work from home with a more gradual push towards a large segment being work from home entirely over the next 5-10 years. Inevitably, there will be businesses/jobs that require office buildings - urban cores are not going away. But there is a reason that the vast majority of new high rises in major cities across the country are condo/apartment (and more specifically "luxury" units) and not office buildings. I don't foresee a huge demand for class A office space post COVID that will need filling on levels we've seen in the 90's & 2000's. Back to Urban Cowboy's point, while I certainly can agree on the hardships and haphazard approach people have had to take with current working from home conditions, I see that more as a product of the urgency required from stay at home orders. Obviously the ideal situation would be to say we are moving your position to full time work at home job over the next 6-8 months allowing for an ideal transitional period to get your office space set up, but unfortunately that wasn't an option. Now that the band-aid has been ripped off, there really isn't much going back. And companies will justify requiring out of pocket expenses for an at home work space through added benefits and savings from working at home - i.e. commuting (more than $1,000 in gas and maintenance annually).
  21. This. It is quite common across the country. Here in Denver I know of no less than 4/5 hotels downtown that do not have onsite parking but you can valet for anywhere from $35-$55 a night. I love Kimpton hotels and that is where I stay when I'm back in Charlotte. They even offer a Maserati SUV courtesy vehicle with driver that I use to get around downtown, and this is also common with other high end hotels. No onsite parking is the least of the concerns facing this project if they decide to mothball it for now.
  22. Overall, I'm not displeased with the project. I do question the color scheme though - the white sections make it look unfinished and the choice of mustard yellow as an accent color makes me scratch my head. More than anything, though, is the height of the core/elevator shaft sticking out from the top of the building; again, it gives the overall appearance that this building isn't finished.
  23. Nothing really of substance to add, but thought I'd share some of my anecdotal experiences. I live right next to City Park in Denver currently, and it's a great area - I always think, "Charlotte needs a City Park." At 330 acres, it's bordered by residential on three sides with a ranging mix of old two story row houses from as early as 1880s, new apartments and lofts, high rise condos, and larger estate homes. On the fourth side it is bordered by the Nature and Science Museum, the Denver Zoo, and a municipal golf course. It's always active (unless it's snowing) and they even have a boat house where you can rent little swan paddle boats on the lake. And while housing prices are pretty inflated in Denver as a whole, being close to downtown right next to the park it's rather insane. I looked up one of the 2 story row houses that was built in 1887 - needs quite a bit a work and they still want about $600K for it. The high rise condos available start just under $1 million. Here are some photos I took on my walk with my little dog just the other day (the last two photos are not mine and from the web):
  24. I think it was mentioned that the buildings in the rendering are not final designs, however, assuming they are somewhat close to actual build-out I crunched some numbers and came up with these rough estimates: Main office building - 450-475 ft Residential - 385-425 ft (most likely on the lower end of that)
  25. I wonder if this will be the final nail in the coffin for Epicentre as it currently exists. If I remember correctly, mgmt at Epicentre announced at the end of last year that they are moving away from entertainment to retail and offices, but would be waiting until after the RNC. With covid, it seems those plans moved up by several months as businesses have been closing for good (Jason's Deli, Firehouse Subs, Studio Movie Grill - which announced their closure BEFORE the pandemic - etc.). The new business model could suffice until this development is completed in 2024/2025, but once completed I can't help but think Epicentre will die rather quickly. The question is can they reinvent the current space, which will be 16 years old by then, for a third time. Or would it be redeveloped into something else? The timing could be right for a new tower in such a prime location.
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