Optimist Park / Belmont Projects

[dubone]

It was First Ward in theory a long time ago, but now that the freeway demarks uptown, it's pretty much in optimist park. But this is great that we now have two projects just north of Brookshire Fwy under development now to help seed some initial momentum in time for the BLE. Bloc 90's completion and growth in the Alpha Mill.

It is a shame they didn't orient the L of that building to the 12th and Caldwell border, but I really hope they can keep the mature trees in that new parking lot.

EDIT: I see now that it is Ch Housing Authority developing it. Is this going to be a mixed income apartment or for elderly?

[Guest]

It was First Ward in theory a long time ago, but now that the freeway demarks uptown, it's pretty much in optimist park. But this is great that we now have two projects just north of Brookshire Fwy under development now to help seed some initial momentum in time for the BLE. Bloc 90's completion and growth in the Alpha Mill.

It is a shame they didn't orient the L of that building to the 12th and Caldwell border, but I really hope they can keep the mature trees in that new parking lot.

EDIT: I see now that it is Ch Housing Authority developing it. Is this going to be a mixed income apartment or for elderly?

I think at some point i read that it was mixed income/market rate/ lower income.

[Niner National]

This is nothing definitive, but they have been doing what looks like surveying type work at Seigle Point.

I was looking into a start/completion date for The Lofts at Seigle Point that will occupy the two parcels of land on 10th street and it appears as though they will begin construction late Spring/Early Summer of this year according to the CHA timetable.

This depends on HUD funding, but the minutes from the CHA meeting in January made it sound like HUD funding is expected. This will add 190 units to this area.

Again, no hard facts, I'm just piecing a few things together and making an educated guess.

Edited March 20, 2012 by rworkman09

[southslider]

It is a shame they didn't orient the L of that building to the 12th and Caldwell border, but I really hope they can keep the mature trees in that new parking lot.

Until there is no longer a bus parking lot opposite Caldwell or a freeway opposite 12th, I think that's too much to ask for. At least, Brevard and New Calvine will become nicer streets, since lined on both sides with buildings.

[dubone]

Not sure if this rendering was posted already, but I came across this for the Lofts at Seigle Point. Seigle point has already remade this area along with Alexander Park and the greenway. I'm happy that this final phase is denser, with a parking deck, and 4 stories of apartments.

The Lofts at Seigle Point represents the final phase of The Charlotte Housing Authority’s Seigle Point development and occupies 2.37 acres. Oriented to maximize a skyline view of uptown Charlotte, the Lofts is a 245,000 SF apartment project offering 202 units over four stories, neatly concealing a 275 space, five-story parking deck.

As a mixed income community, the project will offer approximately 25% rent-assisted units with 75% at market rate. Amenities include residents lounge, theatre, computer stations and games area, all overlooking a spacious fully landscaped courtyard with large pool, outdoor kitchen and patio spaces.

[DCMetroRaleigh]

me gusta

[Niner National]

That rendering is very old actually.

I just bought in Seigle Point in February, so I've been actively tracking the project.

The last phase is waiting on financing from HUD before it can finish. They've resubmitted the paper work for the project several times for approval. In the March 2012 CHA meeting they said they have a construction permit for the site that expires in June, so either they'll start construction soon or they'll have to get permits again.

In earlier CHA meetings, it was said that the project would no longer feature market rate units. If this is the case, I'm sure the project will be scaled back from that rendering.

The city and developer are also trying to figure out if they want to continue building the townhomes. 31 have been completed of the planned 50. Fortunately they've landscaped the complex in a way that you can't really tell that there are supposed to be more townhomes build. When I closed, Myers Park Properties told me they were probably not going to build any more of the townhomes.

Whatever happens, I hope it happens soon. That stretch of road is dark and night.

[Niner National]

This is the most recent information for the Lofts at Seigle Point and the Seigle Point Townhomes:

The Lofts at Seigle Point – Mr. Holt stated that staff will continue with the 221(d)(4) and have spoken

with HUD because they are not comfortable with the ground lease. They want to us to submit the land

as Fee Simple and staff is working though that. The intent is for the Lofts to be built on a land lease

with CHA maintaining ownership. Mr. Banks asked Mr. Holt what is HUD’s problem with the lease.

Mr. Holt stated that HUD has not articulated the problem, all they’re saying is they do not want a land

lease and have asked for the land to be conveyed in Fee simple. Mr. Holt believes that he will need to

go to Greensboro to meet with HUD face-to-face and talk with them. Staff has sent them everything

and has done everything they need to do. Commissioner Ford asked Mr. Holt if there was a consultant

for this project and if so who is it? Mr. Holt stated that Berkcadia is the consultant. Commissioner

Ford stated he\wanted to know why was staff going to Greensboro; why Berkcadia was not doing this

and; why has staff not discovered this after two and a half years. Mr. Holt stated that the reason he

was going up to Greensboro is because he wants to make the deal work. Berkcadia is moving forward

and at some point they will get it done, but it is moving very slowly. Commissioner Ford stated that he

does not understand why we are paying Berkcadia but staff is running point on it. Is Berkcadia doing

their job; can they be released from the project? Mr. Holt stated that they are doing the job, they are

just not doing it in the pace that we expect them to be done. They do not have the same sense of

urgency that we do because they have multiple projects submitted and the Lofts is a primary focus for

us.

Seigle Point Townhomes – Mr. Holt stated that staff has talked about taking it back from Grubb

Properties and after speaking with The Banks Law Firm staff’s recommendation is not to take it back

but to get Grubb Properties to perform and get the nine units sold. Client Services will see if we have

any of our current residents that have graduated with our buyers so that they can possibly purchase a

unit. Myers Park is the group that is selling this and they have a list of buyers but the buyers that they

have are for market rate not for subsidized and the nine that are left are subsidized buyers.

Commissioner Ford stated that he thought there were more pads to be built and since the market as

staff described is improving can we not delay the affordable with the other pads. Mr. Holt stated that it

can be done but then there would be a concentration of affordable in one building. Commissioner Ford

asked how many pads are left to be built. Mr. Holt stated that there are 3 pads left to be built and at

that point it will be complete. Commissioner Ford asked if there was another phase of townhomes to

be built. Ms. Allen stated that this would be the second phase for the townhomes. It will consist of

nineteen units to be built on three pads. HUD allowed staff to take those nineteen units out of the

revitalization plan but staff said they would build the nineteen units later at some point. HUD is

holding us accountable for the nine units that have not been sold unless we tell them otherwise. If they

are switched out to market units a change of action will be needed and staff will have to go back to

HUD for approval. Commissioner Ford stated that he is not trying to get out of doing the affordable

units he’s just to take advantage according to the new information of a market condition to do market.

Ms. Allen stated that this is under review by staff right now because we know that HUD will say if

they approve this you are going to have to replace those units. Right now there is no funding source to

build the nineteen units and staff would have to determine or find funding sources to build those units.

It’s not simple but it could possibly be done.

https://docs.google.com/viewer?a=v&q=cache:-nZfk8a2cloJ:www.cha-nc.org/documents/RED%2520April%25205,%25202012%2520Real%2520Estate%2520Committee%2520Packet.pdf+&hl=en&gl=us&pid=bl&srcid=ADGEESgJboYQcbEbacyUYtMxYsZDI1JaV7SL1A9k3wI8NpTquNJez7oQqf9POFxKDZjyFoHMDNlzir5W23Ie_n5o-s4UBl1I6v7vSFMZa2yxjhvnysKYqQm7q99RgQp_kn-6-sogfXZQ&sig=AHIEtbTiwGdOgSozMD45zMDR-eB4JKuMOw

[dubone]

Argh! 0% market rate = 100% future ghetto. That is outrageous. The whole freaking point of the mixed income communities is to allow for a social mixture and market rate apartments acting as the anchor financially and socially to keep it stable.

First Ward and Belmont have vastly too many subsidized units at this point, and they are running the risk of ruining the success they've had by abandoning course and building the next generation 'projects'.

100% subsidized units = concentration of poverty = failure. Please tell me this is not what CHA is trying to do now. What a disgrace...

[southslider]

With all the other multi-family projects popping up in and around Uptown, surely, this site could also support market-rate rentals. Perhaps, CHA could sell this land, so they could then turn around and buy ailing apartment complexes elsewhere. That would be a much more cost-effective strategy than building subsidized units from scratch, especially on a site that can compete with other market-rate properties.

[dubone]

Well, I thought their whole strategy was to continue doing mixed-rate/income properties. It creates something that is sustainable for the city.

And yes some random buildings can be 100% if surrounded by market, but that is not what it is. It is mixed rate housing that they will then smother with a less sustainable percentage of poverty-income residents. Uptown and Belmont already deal an awful lot with the social problems of failed 70s-style welfare state. They have a new all-subsidized project next to Alpha Mill and now this, and I'm sure they will do the same on the land they control in First Ward at Myers and 6th.

[Niner National]

Ok so I was able to find this in a 2011 CHA document about the types of units at the Lofts of Seigle Point:

The Lofts at Seigle Point is proposed to be the final on-site component of the Seigle Point HOPE VI redevelopment of the former Piedmont Courts. The development is proposed to be part of a broader mixed-income community. The project will include 190 units of which 80% will be at 80% Area Median Income(AMI) and below and 20% will be affordable to those earning less than 30% AMI subsidized by CHA Project Based Section 8.

So it sounds to me like there will be none that are true market rate. 80% median income is a step up from the current apartments though. The current apartments are 60 and 30 percent of the median area income.

I still hope the plan is revised again to include market rate. When I purchased I was given the impression the new phase would be market rate. I did not discover this until after I had already moved in.

[dubone]

Ok I see a little more clearly now. 80% at 80% is more at a very miminal subsidization for lower middle class, right? Not as large a social impact, though, so still can be a stabilizing element, if I'm imagining correctly.

If all subsidized, the lower density will help, but it is far better to have more density and diversity that includes mkt rate. But I guess it's still in flux despite the rendering.

[Niner National]

They've started moving some dirt on the Lofts at Seigle Point.

There are a few pieces of heavy equipment on the front parcels and they had dug up several sections when I got home from work last night.

[Niner National]

From the most recent CHA meeting:

Testing and procurement has started at the Lofts at Seigle Point site.

Authorize the CHA Authorized Signatory to Award a

Procurement Contract to Terracon Consultants, Inc., for

Construction Materials Testing and Special Inspection

Services to the Lofts at Seigle Point for $76,500 (Which

Includes Contingency).

The property ownership and rent structure have been designed to: create a property and

income tax exemption; and a sales tax rebate. The rents for all 190 units will be set at

80% Area Median Income (AMI) with 38 of those units available through the Section 8

program. All residents will be income qualified. The land will be owned fee simple by

The Lofts, LLC. The Lofts, LLC is wholly owned by Horizon, the non-profit CHA

subsidiary, and will not be subject to property or income tax. The Lofts, LLC has also

secured a sales tax rebate approval from the NC State Department of Treasury.

http://www.cha-nc.org/documents/June%202012%20%20Board%20of%20Commissioners%20meetnig%20Agenda.pdf

[atlrvr]

That's a real shame that they had to do 100% subsidized here. It would be nice if they set aside a majority for munipal workers (police, firemen, teachers, etc) but I haven't heard that they would. 80% AMI means a single renter would need an income below $38,400 or a couple below $43,700.

While these are higher levels that the 100% Section 8 that was there before, I generally see this is too great of a low-income concentration for that area. I suspect it's going to be tough to convince market rate housing developers to invest in Belmont.

[Niner National]

That's a real shame that they had to do 100% subsidized here. It would be nice if they set aside a majority for munipal workers (police, firemen, teachers, etc) but I haven't heard that they would. 80% AMI means a single renter would need an income below $38,400 or a couple below $43,700.

While these are higher levels that the 100% Section 8 that was there before, I generally see this is too great of a low-income concentration for that area. I suspect it's going to be tough to convince market rate housing developers to invest in Belmont.

At 80%, I'm hoping it still prices out the riff-raff. The neighborhood in general from my observations is okay, but there are a lot of young kids and teens that have little to no supervision.

I haven't had any serious issues living there, but I would definitely like to see some market rate stuff show up nearby in the future. The corner with that old broken down service station and the property across Seigle Avenue are really the only two parcels left in that area to keep it from becoming a 100% subsidized area.

[Niner National]

A sign went up out front today with a rendering of the Lofts at Seigle Point that said "Coming 2014."

Can't believe it will take them a year and a half (at the earliest) to build these.

[dubone]

Any chance at an updated rendering if they decided not to go with the density shown in the previous one?

[Niner National]

I just drove by as I was pulling in last night, at a glance it looked the same.

If they use the same one, they'll be building a parking deck and wrapping it with apartments so that it is not visible from the street.

Shame that they'll all by below market rate apartments, but at least this grouping is up to about $40,000. These places would be a good place for the service industry workers of Uptown, NoDa, and P-M.

[ah59396]

I know we love to only focus on the positives on this forum, so stories like this are really unfortunate. "up and coming" neighborhoods can't afford these kind of headlines.

http://m.charlotteobserver.com/charlotte/db_108651/contentdetail.htm?contentguid=1kosdHFV

[hokiehigh]

Agree..... this is a really sad incident. Hopefully it won't deter others from cleaning up the area. The other side of Parkwood is seeing a good amount of tear downs/renovations.

Belmont still has the issue where there are way too many rentals.

[dubone]

It's upsetting when that happens anywhere, but the fact that it is so close to uptown, the greenway, and random violence against someone who was trying to help improve a blighted neighborhood is just a very sad situation. I will certainly be thinking twice about riding my bike on the greenway in Belmont for a while.

[ah59396]

According to the "O", the guy died this morning. Very, very sad...

I know the police are investigating, but what is even more upsetting is the deafening silence coming from the leaders in that community. And from the report, it sounds like the shooter just walked away after the killing. You've got to question everyone in that neighborhood in my opinion. A guy doesn't just casually stroll away after murdering someone at 2pm on a weekday and people not know who he is, where he is from or where he went.

[Urbanity]

Belmont is such an interesting neighborhood though interesting is a dumb adjective in this context I just can't think of how to express myself.

It's location is ideal with it pretty much bordering Plaza Midwood, Elizabeth and First Ward but it can feel miles away from those neighborhoods within a block or two mainly because despite its geographic proximity - the physical separations of Independence; 277; and the factories/Charlotte Municipal buildings (and I would even suggest school campus) along the Otis/Louise Streets make it an island. The only neighborhood it flows into is Optimist Park which suffers itself in many of the same regards.

I personally had a bad experience looking at a rental in the area in January, and I hated myself for being so quickly turned against an area as a possibility (both for questions of my own racism and for the practical aspect of the low cost and ideal (theoretically) location.) The bottom line though is that I felt unsafe in the area in a way I hadn't felt in most of Charlotte.

Personally I think the area will turn around and it will eventually become yet another expensive part of the city - but it almost feels like the city would rather abandon it as a lost hope area until it bottoms out and can be razed and reconstructed rather than put effort into what I think is a potential gem of an area for the city as is (layout and architecture of many houses)