Optimist Park / Belmont Projects

[rancenc]

Coming to the Optimist Park area!

Jefferson Apartment Group breaks into Charlotte market with Optimist Park complex

 

http://media.bizj.us/view/img/12266859/the-jefferson*304xx2094-1396-79-0.jpg

JEFFERSON APARTMENT GROUP

Rendering of the front of north facade at The Jefferson at Optimist Park.

Washington, D.C.-based Jefferson Apartment Group has closed on a 5-acre property in Optimist Park where it plans to build a 350-unit multifamily complex.

Jefferson purchased the property, at 200 Wadsworth Place, from a private owner for $7.95 million, according to Mecklenburg County real estate records. The sale closed on May 19. This will be the developer's first North Carolina project.

Construction is slated to begin on The Jefferson at Optimist Park later this summer. Its design will include red brick and ironwork on the exterior, and the interior will have touches of gingham pattern in a nod to the former fabric mill next door that is now home to Optimist Hall.

The six-story building will have a mix of studio, one- and two-bedroom units that range between 585 and 1,027 square feet. There will be a game room, fitness center, open coworking space, pet spa, a bike-storage room with maintenance bench, a pool and two courtyards, according to a news release.

“200 Wadsworth Place has been a long time in the making, and we’re excited to see it begin to take shape," said Greg Van Wie, senior vice president and development partner. "The industrial history around north Charlotte is rich, and we’ve worked hard to represent the heritage of the Optimist Park neighborhood in our architecture and design.”

With the kickoff of its first Charlotte project, Jefferson announced it has established an office presence in the city. The company manages properties up and down the East Coast.

“We knew it was the right time to plant roots in Charlotte,” Jim Butz, president and CEO, said in the release. “The Queen City is experiencing explosive growth, and we feel confident that it is not slowing down anytime soon. We’re looking forward to investing more in the Carolinas region.”

[Hushpuppy321]

Drove around Optimist Park/Villa Heights today and the construction going on is incredible!!  It’s amazing how much is being built right now and what’s planned along this BLE Corridor.  This entire area (vacant/under utilized lots) could literally be built out in a matter of just 5 or 6 years if things continue at this pace.  Seems like there’s always a minimum of 2 or 3 Apartment Complexes under construction at all times in this area.  Just amazing….

[Desert Power]

Is that technically Optimist Park? 200 Wadsworth is on the other side of the tracks from Optimist Hall. I wish the developer luck, but seems like a tough spot.

[Hushpuppy321]

56 minutes ago, Desert Power said:

Is that technically Optimist Park? 200 Wadsworth is on the other side of the tracks from Optimist Hall. I wish the developer luck, but seems like a tough spot.

I think OP boundaries/area may morph some (like NoDa) as it’s popularity grows.  This complex will do well directly behind the Foodhall.

[InSouthPark]

9 hours ago, Hushpuppy321 said:

I think OP boundaries/area may morph some (like NoDa) as it’s popularity grows.  This complex will do well directly behind the Foodhall.

Right along freight train tracks, behind the homeless shelter, lovely conditions to walk uptown.  And a 13min walk to Optimist hall.   Good luck with that. 

[Hushpuppy321]

34 minutes ago, InSouthPark said:

Right along freight train tracks, behind the homeless shelter, lovely conditions to walk uptown.  And a 13min walk to Optimist hall.   Good luck with that. 

Ha ha so true - but then again I thought nothing would ever change about Bedford Stuyvesant (Bed-Sty), Redhook or DUMBO neighborhoods.  Those close in Brooklyn neighborhoods are very trendy and up & coming yet there’s always that gritty/dangerous nature to remind you/excite you that you’re still in the City though.

[slipperypete]

2 hours ago, InSouthPark said:

Right along freight train tracks, behind the homeless shelter, lovely conditions to walk uptown.  And a 13min walk to Optimist hall.   Good luck with that. 

I'll bet this will end up a good bit more affordable than the places south of the tracks. But it will probably be a car-dependent community. Their parcel doesn't provide access to 16th Street, so all pedestrian activity will involve N Tryon. And it's on such a difficult section of N Tryon - with a pretty unpleasant rail underpass and long stretch of i277 underpass to get to uptown, and the foot traffic between Roof Above and the Urban Ministry. Seems like it would take a fairly determined pedestrian to do a regular foot commute uptown from here.   

On the plus side, increased business for the Auto Bell on the corner I guess. 

[InSouthPark]

2 hours ago, Hushpuppy321 said:

Ha ha so true - but then again I thought nothing would ever change about Bedford Stuyvesant (Bed-Sty), Redhook or DUMBO neighborhoods.  Those close in Brooklyn neighborhoods are very trendy and up & coming yet there’s always that gritty/dangerous nature to remind you/excite you that you’re still in the City though.

I walked the majority of DUMBO last month with my teenage daughter...DUMBO ain't got nothing on N Tryon grit. LOL.   Dang it now I'm hungry for some Juliana's pizza. 

[Hushpuppy321]

5 hours ago, InSouthPark said:

I walked the majority of DUMBO last month with my teenage daughter...DUMBO ain't got nothing on N Tryon grit. LOL.   Dang it now I'm hungry for some Juliana's pizza. 

Yes - Close-In Neighborhoods to Downtown Brooklyn have really been changed incredibly.  My family mostly in Bed-Stuy got pushed out towards Crown Heights & East NY neighborhoods because the Brownstones they were renting were sold out from under them.  Progress……

[KJHburg]

Spacecraft is building its next and much larger phase of apartments with no parking. 

""Local real estate developer Space Craft was recently approved for a $65.2 million construction loan for the second phase of its apartment project The Joinery.  The Joinery is an 83-unit apartment complex in Optimist Park, at 1824 N. Brevard St., that opened to residents on April 1. It's a short walk from the Lynx Blue Line's Parkwood Station and sets itself apart by being one of the first in the city without on-site parking.  Phase two, next door at 1816 N. Brevard St., will be more than four times the size of the original complex, with a total of 361 units across two buildings that will include 17,384 square feet of ground-floor retail space, according to a news release from JLL Capital Markets. It will have studio, one-, two- and three-bedroom units that average 629 square feet.""

if you were on the last months UP waking tour of the Mill District you know exactly  where this is going.

https://www.bizjournals.com/charlotte/news/2022/06/15/the-joinery-space-craft-apartments-development.html

[Hushpuppy321]

Wow - four times the size and with no parking!?  The Joinery must be leasing up at a good pace to give them the confidence to move forward with phase II.

[TGIBridays]

21 minutes ago, KJHburg said:

Spacecraft is building its next and much larger phase of apartments with no parking. 

""Local real estate developer Space Craft was recently approved for a $65.2 million construction loan for the second phase of its apartment project The Joinery.  The Joinery is an 83-unit apartment complex in Optimist Park, at 1824 N. Brevard St., that opened to residents on April 1. It's a short walk from the Lynx Blue Line's Parkwood Station and sets itself apart by being one of the first in the city without on-site parking.  Phase two, next door at 1816 N. Brevard St., will be more than four times the size of the original complex, with a total of 361 units across two buildings that will include 17,384 square feet of ground-floor retail space, according to a news release from JLL Capital Markets. It will have studio, one-, two- and three-bedroom units that average 629 square feet.""

if you were on the last months UP waking tour of the Mill District you know exactly  where this is going.

https://www.bizjournals.com/charlotte/news/2022/06/15/the-joinery-space-craft-apartments-development.html

My friend has been teasing me about this project since he helped with the surveying work for it. Can't wait to see more details.  Apparently the code names they use for the buildings are all from Back To the Future which I found funny. 

[Desert Power]

3 hours ago, KJHburg said:

Spacecraft is building its next and much larger phase of apartments with no parking. 

""Local real estate developer Space Craft was recently approved for a $65.2 million construction loan for the second phase of its apartment project The Joinery.  The Joinery is an 83-unit apartment complex in Optimist Park, at 1824 N. Brevard St., that opened to residents on April 1. It's a short walk from the Lynx Blue Line's Parkwood Station and sets itself apart by being one of the first in the city without on-site parking.  Phase two, next door at 1816 N. Brevard St., will be more than four times the size of the original complex, with a total of 361 units across two buildings that will include 17,384 square feet of ground-floor retail space, according to a news release from JLL Capital Markets. It will have studio, one-, two- and three-bedroom units that average 629 square feet.""

if you were on the last months UP waking tour of the Mill District you know exactly  where this is going.

https://www.bizjournals.com/charlotte/news/2022/06/15/the-joinery-space-craft-apartments-development.html

Are they still planning an alley concept for this general complex?

[KJHburg]

19 minutes ago, Desert Power said:

Are they still planning an alley concept for this general complex?

Yes I think that was part of the plan behind the existing Joinery they built 

[CLT Development]

4 hours ago, Hushpuppy321 said:

Wow - four times the size and with no parking!?  The Joinery must be leasing up at a good pace to give them the confidence to move forward with phase II.

it has 50 rentable parking spaces, 10 of which will be occupied by ride share vehicles 

Edited June 16, 2022 by CLT Development

[kermit]

16 minutes ago, CLT Development said:

it has 50 rentable parking spaces, 10 of which will be occupied by ride share vehicles 

Ride share (lyft / uber) or car share (zipcar or short term rentals)?

[fortibus]

Anybody know what's going on with the materials stacked up in the empty lot behind Edgeline Flats apartments? Corner of N Davidson St and E 16th St.

 

 

[Desert Power]

13 hours ago, fortibus said:

Anybody know what's going on with the materials stacked up in the empty lot behind Edgeline Flats apartments? Corner of N Davidson St and E 16th St.

Looks like Edgeline still owns that second lot, would be great if it was finally able to develop it.

[nuthinberger]

On 6/19/2022 at 4:04 AM, fortibus said:

Anybody know what's going on with the materials stacked up in the empty lot behind Edgeline Flats apartments? Corner of N Davidson St and E 16th St.

 

 

I have wondered this as well.  Given the lack of ground work on the site, I assume this is just a staging area for the apartment complex around Birdsong.  

[KJHburg]

The Joinery phase 2 has been crowdsourced in terms of funding.  Very interesting.

https://www.connectcre.com/stories/crowdstreet-investors-flock-to-participate-in-93m-charlotte-multifamily-project/

[Hushpuppy321]

The Optimist Park/Villa Heights area is teeming with construction.  Took a few photos to update things;

Birdsong Apartments, OP Foodhall Phase 2 (Apartments and Office) and Joinery Phase 2 (New Tower Crane Active)

Edited July 15, 2022 by Hushpuppy321

[KJHburg]

Optimist Hall parking fees starting August 15    seems a little steep after 3 hours to me. 

[Matthew.Brendan]

[DonkeyKong]

[kermit]

There is no doubt that people spend most of the money they spend at OH in the first hour they are there. After that initial spend, vendors will want turnover so the tables and parking spaces can be used by other car-dependent visitors. Drivers are the most expensive  customers to attract because of the cost of providing parking, so OH is making a good, revenue-focused, decision by discouraging driving.

It aint like the rail station isn't 1,100 ft away from the door of OH, granted the pedestrian connection could be much better (along with better rail frequency).

Edited August 10, 2022 by kermit