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About dman379

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  1. Per Doug Smith, Novare won't begin selling Catalyst units until early 2008. Given market conditions though, I wouldn't be surprised if that's pushed back similar to 300 S. Tryon. http://www.charlotte.com/business/columnis...ory/176912.html
  2. In Doug Smith's article in the link below, it says, "Novare plans to begin selling Catalyst units in early 2008 and move owners into the tower starting in early 2009." That's about what I had expected given the way Novare waited to start selling the Avenue until it was well under way. By then, they may have made progress on the park and/or baseball stadium, which may increase the attraction to buyers if they can actually see the surrounding blocks evolving. http://www.charlotte.com/business/columnis...ory/176912.html
  3. If you look closely at the second picture or visit the actual site, you'll see that the action and cranes are closer to the corner of MLK and Church than MLK and Mint. It's a huge block between Church and Mint and can be somewhat deceptive from various angles. That's an awesome second picture capturing the skyline view from the site. With the open block north of the site due to the new park, owners on the skyline facing side of the building are going to have forever-open and amazing views of the skyline, park, and new baseball stadium. Those in the upper floors might even be able to watc
  4. I'm hoping for the same, but I don't think those prices are likely given the cost of the remaining units at the Avenue combined with the superior (IMO) location and view of Overture and Twelve directly on the new park and overlooking the new baseball stadium and pictured skyline section. Granted, there are still a number of 2BR units remaining at the Avenue, but they're priced between $310-410/sq. ft. The only thing that may keep the average price at Overture down will be the fact that it appears to have units beginning on much lower floors compared to those at Avenue. I would expect prices
  5. Donald Trump Jr., Ivanka Trump, and Eric Trump were all in Charlotte on Thursday and spotted out at the Wachovia Championship. I know there's plenty of golf spectator opportunities elsewhere and have to assume that they were in town on business. Apparently the three Trump kids are playing a heavy role in Trump Constuction.
  6. Yeah - they're going to need every bit of a full court press to get those prices! I just spoke to a buddy of mine this evening who had lost his contract with The Renwick when it was reclaimed and renamed as The Enclave. Part of that deal apparently gave the original contract owners the first right of refusal to the new prices for the units they had originally selected. He told me that he reserved his ~1600sq. ft penthouse, skyline view unit for $327k back in June of 2004. They called him just the other day and said they were offering him the option to purchase the same exact unit now for $
  7. My friend said he consulted his lawyer and they said there probably isn't very much he can do regarding the lost profits. I think the contracts were written that loosely using the verbiage "unforeseen circumstances" as a situation allowing the developer to cancel the contracts. Regardless, they're requesting that the Renwick developer pay him $10k in addition to his downpayment, but he hasn't heard anything back from the lawyer yet regarding that request. I'll keep everyone posted.
  8. My friend was the 4th person to go to contract on the Renwick back in June '04 and got in on a ~1600 sq. ft penthouse unit with a great city view for around $320k. I called the sales team several months ago to look into a similar unit for myself and they were then selling those without a city view for $400k and about to go through a price increase. As such, I think a $100k profit was definitely a possibility. Is being upset at the loss of a potential $100k profit because the developer cancelled the contract greedy and shameful? I don't think so considering that he'd been waiting for th
  9. I just spoke to my good friend who owned a contract at the Renwick and he confirmed what we have been discussing over the last several weeks regarding the contract cancellations. Under the advice of his lawyer, he refused to sign the contract cancellation document that he was originally sent, but the Renwick folks sent him a check for his $4,000 down payment anyway. Under that action, I'm assuming the developer just cancelled the contract without his signature. He said that his lawyer is currently trying to get an additional $10,000 on top of the down payment, but he's not too optimistic.
  10. I didn't personally see the letter verbiage, but my buddy said that it wasn't very official and he is indeed refusing to sign it until he receives counsel from his lawyer. He looked back over his contract and said that the verbiage there around contract termination was written very loosely, stating acts of God and unforeseen circumstances as justification for termination. It will be interesting to see how the little guys fair against a developer with ~$6 Million in additional estimated costs to recover.
  11. My former roommate went to contract on a penthouse unit at the Renwick back in the summer of 2004. Over the past two years, he's been licking his chops as Uptown real estate values soared, putting him on track for a $100K+ profit if he chose to flip at the time of completion. Then just the week before last, he received a letter from the Renwick's developer asking for his signature and agreement to be released from the contract. Apparently the Renwick's developer is attempting to have all existing long-term contracts canceled so that they can be reissued at current market values. If you fig
  12. dman379


    You're right Seabreeze, only 2 elevators for TradeMark. I really can't believe that! Hopefully they'll have nice lobbies with flat screen TVs because folks will be spending a good bit of time there waiting on the elevators and will need something to keep them entertained.
  13. dman379


    Above is the statement that started all of the talk about elevators, but I can't seem to find where TradeMark's website states that the building will only have 2 elevators. I should probably have posted this under the Trademark thread and maybe I'm just missing something really obvious, but it would be great if someone could direct me to that information and confirm our concern.
  14. Boulevard Centro has begun reservations for The QUAD, the first of three buildings within their Quarterside development. Below is the link to their updated website and text from an email I received from them. Unit sizes and prices range from 525-1148sq ft and $225-$265/sq. ft, respectively. http://www.blvdcentro.com/quarterside/quad/quad.htm "Thanks so much for your interest in The Quad! We are excited to be able to offer this brand new development to Uptown. THE QUAD, a condo community located in QUARTERSIDE, is an exciting mixed use development on the city block bounded by Sixth S
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