pgsinger

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About pgsinger

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    Charlotte, NC

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  1. The Bad News Report

    Just for clarification, Lowe's has $37.5 Billion in assets, of which $1 Billion is goodwill. So, the $5.5 Billion is stockholder equity. Their primary competition Home Depot has $45 Billion in assets, of which $2 Billion is goodwill. HD also has about $41 Billion in liabilities, so there stockholder equity is about $4.5 Billion. If you are looking at tangible net worth of each (i.e. no goodwill), you are looking at $4.5 Billion for Lowe's and $3.5 Billion on Home Depot. Earnings multiples are pretty close with Lowe's actually doing better with a nearly 24 P/E with HD a touch lower than 23 P/E. HD's market cap ($182 Billion) is about 3x the market cap of Lowe's ($63 Billion). HD pays about 3x the dividend of Lowe's as well. Most of this, I assume, is a function of their income statement and earnings. Lowe's cost of actually doing business is much higher than HD. My hunch is they are looking to lower this cost, then potentially raise more equity to be better positioned to compete against HD. Regardless, active management is a good thing. Companies should always be looking to become more efficient.
  2. The Good News Report

    I am not sure if this should actually be here or in the Bad News thread, but here it is. Seattle has the most construction cranes in America. It is a bit dubious as Charlotte and several other metro areas were not even on the list. Phoenix, my current location, is on the list with 10. Any idea what the current count is there? I figured it would be around 10 depending on the construction timing of the various office buildings and when the report/count was actually done. So, I am posting it in good news thinking that given Charlotte's size relative to its competition, our crane count is probably pretty good. http://www.seattletimes.com/business/real-estate/seattle-is-again-crane-capital-of-america-but-lead-is-shrinking/ http://assets.rlb.com/production/2017/02/01000131/2017-01-Crane-Index.pdf Maybe ah59396 can confirm the current Seattle count while he rocks his Run CMC shirt or his game of thrones edition Kings of the South Panthers shirt.
  3. The Good News Report

    Oh...and I have a hard time believing that NC is ahead of AZ in solar production. I would love it if that were true, and I appreciate the link. I may dive into later tonight with an Old Fashion and sort through their data. I have solar panels on my house and I have generated 6.64 mega watts so far this year. There are literally dozens of houses in my neighborhood with panels. I doubt they are capturing all the homeowner systems out there. But...I have no evidence to suggest this is wrong...just a hunch.
  4. The Good News Report

    It is all probably apples to oranges. I grew up in Hillsborough, NC and lived in Charlotte for 7 years before moving out to Phoenix, AZ. House out here are mostly cinder block exterior. AC ducts run through the attic over the insulation in most houses older than 20 years or so. Strangely, water pipes are either routed through the attic or around the exterior of the house (again outside of the insulation). This is done because the soil is all rock based and it usually takes blasting to "dig" a basement. Also, there are only a few days a year where temps drop under 32F, so freezing pipes are not an issue. The flip side to that is we have already had a few days over 100F, and beginning sometime in late June the overnight temp won't drop below 88-90F until sometime in September. Power bills for a 1,500 sq ft house probably average $300-$500 per month from May through October. But you may not have to heat your house any month other than January. It is just a different world out here.
  5. Metropolitan, Midtown Redevelopment

    Mattress Firm has actually done extensive research about how people buy mattresses. They have found that people generally buy mattresses in the second store they visit. My understanding is that the logic is that it is a large purchase so they shop around but everyone carries the same mattresses for about the same price (especially after a price match). So Mattress Firm actually wants to have two stores with mostly overlapping footprints. This is also another reason people do not expect them to rebrand Sleepy's stores to MF stores, but to actually continue building Sleepy's.
  6. Elizabeth Projects (7th St, Elizabeth Ave, etc)

    I am pretty sure all of Midwood was reassigned to Hawthorne High over a year ago. Hawthorne High is the one on Hawthorne north of Central though. It is a magnet school, if I remember correctly.
  7. Yeah, I wasn't trying to be mean, just trying to educate. I tried to word it as delicately as possible, and I certainly meant no offense.
  8. Charlotte Center City Streetcar Network

    You would think the seating maps of TWC on the wind screen would have given it away...
  9. Dilworth Projects (Kenilworth, Morehead, East)

    Did he provide any info as to what was supported versus what was opposed? 29% seems like a pretty high number from my perspective, though I am not experienced in this area at all. Challenging 1 out of 3 rezoning applications seems like it would send a pretty clear message to developers that they will likely have to fight and may need an alternative plan in line with current zoning. The timing matters as well. If 10 out of those 13 opposed cases came in the last 5 years that would show a completely different current atmosphere than the 10 year average. These are just some thoughts that came to mind. I would be curious to know the answers if the letter happened to have these facts.
  10. I didn't' know that. This poster fits your description well as it says Whirly something. Oh well. Surely something will go in there soon.
  11. I wanted to put the rest of my pics in a different post since I took so many of Morningside. So here are pictures of Marvel Apts, Tommy's, Levine's Apts on Commonwealth, Workman's Friend, Legion Brewing, the back of the Edison, and the store across from Thomas St. Tavern. I apparently underestimated the size of Levine's Apts. They take up all of the frontage on that block. I am very curious to see how those come out. Didn't people thing the materials were actually good on these (unlike the 10th St Apts.)? Also, for Legion Brewing, I believe the initial plan was to demo both buildings adjacent to it. However, it looks like they will be keeping the church building which fronts Commonwealth. The building behind it is well on its way to being a parking lot. They still have the Brodt sign up, which I think is the permanent plan as well. The land slopes off as well, so you won't be able to see the parking lot from a car driving down the street which is a plus. I also included a picture of the back of the Edison as I like what they did by focusing on the building's interaction with the street and putting all this stuff in the rear. These 35-50 unit buildings are exactly what we need in PM, particularly when they have good street interaction. The Edison could certainly have been much better with the activity on the front of the building, but it isn't that bad. Finally, the building across from Thomas St Tavern is being renovated and looks like a bike shop might be going in! That would fill a much needed void. Anyone have any more info on this? http://www.urbanplanet.org/forums/gallery/image/3582-img-1427/ http://www.urbanplanet.org/forums/gallery/image/3581-img-1426/ http://www.urbanplanet.org/forums/gallery/image/3580-img-1425/
  12. I biked around today and took a bunch of pictures of stuff in the neighborhood. The first thing I did was circle all around the Morningside Village project. When I did this last October things were just coming together. However, now you can really see the scale of the project. I knew it was big and obviously knew everything that was going in, but being there and going around it you get a real sense of its size and future impact. I am curious to get everyone else's opinion on it when it is done, but I think they have done a great job using the alley as the entry to the parking which is all on the backside of the project. The front will be the area with the plazas and public space. They are using a very neutral cream/beige color which I know people won't love. There is also a lot of brick work on the buildings fronting Morningside, so hopefully this will be a theme throughout to cut down on the cream/beige hardiplank siding. The scale is massive. I think this will be a big catalyst for more retail and development along Central beyond the "downtown" area of PM. http://www.urbanplanet.org/forums/gallery/image/3603-img-1448/ http://www.urbanplanet.org/forums/gallery/image/3602-img-1447/ http://www.urbanplanet.org/forums/gallery/image/3601-img-1446/ http://www.urbanplanet.org/forums/gallery/image/3600-img-1445/ http://www.urbanplanet.org/forums/gallery/image/3599-img-1444/ http://www.urbanplanet.org/forums/gallery/image/3598-img-1443/ http://www.urbanplanet.org/forums/gallery/image/3597-img-1442/ http://www.urbanplanet.org/forums/gallery/image/3596-img-1441/ http://www.urbanplanet.org/forums/gallery/image/3595-img-1440/ http://www.urbanplanet.org/forums/gallery/image/3594-img-1439/ http://www.urbanplanet.org/forums/gallery/image/3593-img-1438/ http://www.urbanplanet.org/forums/gallery/image/3579-img-1424/ http://www.urbanplanet.org/forums/gallery/image/3578-img-1423/ http://www.urbanplanet.org/forums/gallery/image/3577-img-1422/ http://www.urbanplanet.org/forums/gallery/image/3576-img-1420/
  13. The link below will take you the Accela site (Accela is provided so the public can track the progress of rezoning applications and view the submitted plans.) for this development. You can expand the "Attachments" category to access the filed plans. For this one, click on the last PDF to download the approved site plans, which includes (on the last page) a rendering of the final project. Personally, I think this one will either be amazing or really bad. I like the use of blue and red, and the originality in the design. However, it will be completely different from everything else in the area, which will be bad if it is not a great looking building (in my opinion at least). You can also go back to page 75 of this topic and read some discussion about it. You can also find a rendering there, but being new I thought you might find the Accela link helpful. Generally, I think the consensus was very positive for this one as it is replacing a decrepit single family house and adding some density further down Central than we had seen to that point. The downside is that there will be no retail and only a lounge/coffee area for tenants will be fronting Central, in addition to the garage entry. However, this far down Central and having a relatively small frontage, people considered it not that bad. https://aca.accela.com/charlotte/Cap/CapDetail.aspx?Module=LandDevelopment&TabName=LandDevelopment&capID1=14LDU&capID2=00000&capID3=00029 Also, since you are new to the group, you may find this map helpful as well. It is incredibly useful and the people on here that maintain it are incredibly generous to share it with us and work so diligently to keep it up to date. https://www.google.com/maps/d/viewer?mid=zVkgech8oPvQ.kAkwm8EIn_7Y Finally, and I really don't mean this to come off as rude, but the search function is incredibly useful. Many of these developments have been discussed a lot elsewhere in the forum. So you may be able to find a ton of info on a specific project by running a search on the project name. In this case you probably couldn't do it as easily because I don't think you knew this was called Marvel Apartments. Anyway, it is a useful tool, and search engines are not always as useful in forums.
  14. This just brings us all the way back to the argument of form based zoning versus Euclidean zoning. I started a thread several months back that got a couple weeks of good discussion then it died (there probably wasn't much more to discuss). One of the points was the impact of minimum parking requirements versus maximum parking requirements. An example of this in PM is likely Legion Brewing. If they didn't need more parking due to zoning, they might not be buying up the lot next to them and exchanging two buildings (albeit it crappy buildings) for a surface lot. PM needs an extension of the PED Overlay (revised to require true retail along Central, and IMHO parking maximums as opposed to minimums) beyond the HT. Exchange true retail on the street for some of the buildings like Tommy's, the auto shops next to it, the restaurant at Tippah Park, the strip of buildings from McD's to Morningside (Sorry Nick's), and everything on the Veteran's Park side between the Army Reserve and Morningside.