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About CLT2014

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    Charlotte, NC

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  1. CLT2014

    SouthPark Mall

    Just curious, did you ever shop at the Emporio Armani at SouthPark? I never saw many people in it, but I'm sure some people liked it. Their items will continue to be available at Nordstrom and Neiman Marcus at SouthPark if you are a customer (plus online of course with free returns).
  2. CLT2014

    Honeywell HQ to Charlotte!

    Since that deal in 2015, New Jersey tax policy has changed hitting the pockets of the wealthiest at Honeywell and the corporate tax rate increased. In addition, the extremely suburban NJ location isn't ideal for attracting recent college graduates. Charlotte appeals to younger people who can live in South End, Uptown, etc..., while offering the suburban lifestyle for the employees with families as well all in proximity to the office. NJ Tax Changes: "As part of the agreement, the top income tax bracket has been increased from 8.97 percent to 10.75 percent on income above $5 million. Businesses earning more than $1 million will also now pay a higher corporate tax rate for the next four years. For the first two years (starting retroactive to January 1, 2018) they will be taxed at 11.5 percent, and at 10.5 percent for the remaining two years, up from the 9 percent current rate." "The state will now tax businesses at the second highest corporate tax rate in the country. "
  3. CLT2014

    Honeywell HQ to Charlotte!

    Anybody known when the official announcement will be made? Edit: Nevermind, I see the pres conference just happened.
  4. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    I believe a previous article said 3 of the 7 gates will technically be common use gates controlled by the airport. American would likely have access most of the time in addition to the 4 they will fully lease. Technically the airport could allow another airline to use those gates on a common use basis if another airline wanted to start service. Otherwise I'd say AA will basically get 7 gates.
  5. CLT2014

    Who is going to buy all the Condos, (Part II)

    I think part of the problem for the Uptown market is many of the arrivals ARE 20 somethings just entering the job market. A significant amount of people in this age group are also living in suburban apartments with cheaper rent where they are trying to get the cheapest unit possible because their entry level pay is low. A sub-cohort of 20 somethings land a job at Wells Fargo Securities and are ready for their luxury apartment - but not all. The $1,200 a month units Uptown are getting gobbled up. It is the premium units that are sitting and need to be filled by people in their 30's and older that can afford $3,500 a month rent (and chose to rent over buy). Novel Stonewall Station is a perfect example. Almost all the sub $2,000 a month units are leased. There are numerous premium units on corners and higher floors sitting empty where they want $2,000 - $12,000 a month. In addition to young people moving to town, America is getting older and elderly. Most of the apartment buildings in Uptown are pretty clearly targeting young millennials, and thus missing out on a growing empty-nester demographic that might be more interested in urban living feel like "the building isn't for them." This is also a demographic with wealth and income that can more often afford a $6,000 a month unit. This demographic is picking apartments and townhomes in Dilworth, Myers Park, Elizabeth, etc... though because the buildings are being designed more to that generation's aesthetic tastes (and unsurpringly lease up premium units much quicker than Uptown) and doesn't scream Miami nightclub.
  6. CLT2014

    Legacy Union (former Charlotte Observer redevelopment)

    I would guess a 12k BofA branch at this site is big due to the wealth management team. They are moving the US Trust and Merrill Lynch teams in Charlotte into this building. A ground floor branch with lots of private conversation offices for the financial advisors would prevent clients from having to check in with security, get escorted up, and ride elevators to meet their advisor. I would be surprised if they needed that much space for teller lines, etc... The whole building seems designed to try to have the prestige and power of a financial institution in a skyscraper, with the convenience and accessibility of a Merrill Lynch office in suburban South Park, Cornelius, Ballantyne, Dilworth, Davidson, etc... so clients can easily drive in to meet their advisor. I would assume the attached garage will have dedicated spots for Merrill Lynch and US Trust clients as well so they don't have to walk far.
  7. Southwire (formerly ABB) makes high voltage, underground electric power cable at their plant. The "extrusion tower" is the core component of the operation where the insulation layer cools around the cable.
  8. CLT2014

    The RailYard SouthEnd

    Who is responsible for paying to bury power lines in a neighborhood like this that is converting from a former warehouse/industrial district into a mixed use neighborhood with office, residential, and retail? I get that there was no incentive to bury the power lines when this was a full industrial district, but it has rapidly changed. Is it ultimately Duke Energy's call and do they pay for burying power lines out of the goodness of their heart / when it makes financial sense or is that the city's responsibility?
  9. CLT2014

    Crescent Stonewall Station

    Morning Glory is an annual so the tenant may have just cut it back prior to first frost. It was unlikely they were going to survive winter, so a little preventive maintenance by a good gardener.
  10. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    Likely the opportunity cost versus other routes. The route ties up an A319 for about 4 hours each way (just flight time) to serve a city with little corporate presence and likely lots of leisure fares. Better to serve it via DFW that just takes two hours. The fact the flight was a red-eye probably didn't help with leisure travelers either, but then AA probably didn't want to commit a plane to a more prime time slot.
  11. YES!!! Gorgeous, completely going to change that stretch of Stonewall.
  12. CLT2014

    210 Trade | EpiCentre

    Then I would just call it like it is. Your preference would be retailers that draw a upper middle class and affluent clientele... which does not equal everyone. Uptown has a high household income so it could be a candidate for an Apple store. I just wouldn't say it is a store for "everyone."
  13. CLT2014

    210 Trade | EpiCentre

    I'm still trying to figure out how Apple stores cater to "everyone". They sell laptops that start at $1,000 and phones in the hundreds of dollars. Their stores are strategically located in shopping malls and districts with high household incomes. There is a reason iPhone customers have a median income of $85,000 versus the general population median income of around ~$55,000. Android customers have a median income of ~$61,000. Apple often even boasts on their annual reports how their target customers are the upper middle class and affluent (who have high disposable income to buy new phones over and over and over every time a new version comes out). Most stores have a target demographic to occupy a niche in the retail world. Few are going to appeal to "everyone."
  14. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    ViaAir has lost their contracts with Mid-Ohio Valley Regional Airport in Ohio and Beckley Airport in West Virginia due to reliability issues. Via Air ends November 30, 2018. ViaAir still has service to St. Augustine and Orlando/Sanford on their schedule for Charlotte (for now). A new carrier picked up the old ViaAir contracts, Contour Airlines, who will offer service to Beckley ; Mid-Ohio Valley ; and Tampa, FL from CLT on ERJ-135 aircraft. Flights looks to start around $28 one way beginning December 5th.
  15. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    CLT - YUL: Departing CLT: 11:20AM ; Arriving 1:39PM Departing CLT: 7:50PM ; Arriving 10:09PM YUL - CLT: Departing YUL: 7:25AM ; Arriving 10:03AM Departing YUL: 2:20PM ; Arriving 4:58PM RDU - YUL: Departing RDU: 4:15PM ; Arriving 6:20PM YUL - RDU: Departing YUL: 1:35PM ; Arriving 3:45PM