Montford Drive

[RaleighHeelsfan]

"Parking deck wrapped in apartments" LOL...yeah...there will be a parking deck alright...and it will sit there for years unfinished...

[Guest]

19 minutes ago, InSouthPark said:

Well Levine was successfully re-zoned lots of things.  Nothing build but yes he can get a rezoning. 

He built on Commonwealth, and a bunch of industrial buildings in Florida.

Edited August 28, 2019 by Guest

[InSouthPark]

I was walking up Montford today and noticed that some of the streetscape improvement project seems to be inching forward.  On the side with the sidewalks, there were some markings on the street for the pocket parks and bike parking.   This was out in front of Good Food.   Paint on the roads looked fresh.  Nothing up by Roasting Company yet.

[pgsinger]

Not sure if this should be here or in the SouthPark thread, but does anyone know what is going on at the corner of Runnymede and Selwyn?  Over the last 2-3 weeks several houses have been demolished right here.   Below is a screenshot with a blue square around the area...though I think the area may be longer than the area I marked.  I will try to grab a few pics on the way home today.

 

[AP3]

Just now, pgsinger said:

Not sure if this should be here or in the SouthPark thread, but does anyone know what is going on at the corner of Runnymede and Selwyn?  Over the last 2-3 weeks several houses have been demolished right here.   Below is a screenshot with a blue square around the area...though I think the area may be longer than the area I marked.  I will try to grab a few pics on the way home today.

 

Town homes

https://charlottenc.gov/planning/Rezoning/RezoningPetitions/2017Petitions/Pages/2017-183.aspx

 

[QClifer]

Guessing townhomes.  They paid big bucks for those homes. 800-900k for atleast 2 of them and that land has some serious topo. I’m sure they will Be nice when finished. 

[videtur quam contuor]

3 x 900,000$ for properties-2.7 million$

26 x 150$/sq.ft construction x 2600 sq. ft each=10.14 million$

2.7+10.14=12.84$ million costs

26 units x 800,000$/unit sale price=20 million$. 

Lots of room for transaction costs, grading, design, etc. and, of course, profit.

(Guesswork figures.)

[QCxpat]

From today's(11/12/19)  Charlotte Business Journal - "DC real estate developer enters market with massive office building renovation near Park Road" by Ashley Fahey (subscriber paywall)

Excerpt:  "A Washington, D.C., commercial real estate firm that's been eyeing the Charlotte market for years is making its debut locally with a multi-million-dollar office renovation project near Park Road.  Akridge and Charlotte-based Levine Properties are in a joint venture to overhaul the nine-story, 145,000-square-foot office building at 4701 Hedgemore Drive.  ... "Starting early next year, the companies will spend about 14 months and somewhere around $30 million renovating the entire building, which dates back to the early 1980s, and adding amenities before bringing it back to market for lease in the first half of 2021."  ... "Joe Svatos, Senior VP of acquisitions for Ackridge, said "from the fifth floor and up, you have a spectacular view of the Uptown skyline, so we’ll take advantage of that," adding the building will have floor-to-ceiling glass and new amenities like a coffee bar, an athletic facility, a conference center and a parking ratio of at least 4 spaces per 1,000 square feet.  Levine said the partners expect to invest about $225 per square foot on the project, or a little more than $32 million." ... "The building will be renamed One Montford Park as part of the overhaul." 

 

Link:  https://www.bizjournals.com/charlotte/news/2019/11/12/dc-real-estate-developer-enters-market-with.htm  (subscriber paywall)

[ertley]

And that's a massively outdated picture, because of course that massive Crescent apartment block is now in the upper left field, and the midrise building in the center background has been renovated. 

That area is a vivid exemplar for me of Charlotte's constant evolution: A(n elderly) cousin retired to those condos on lower Hedgemore in the late '80s when her entire neighborhood south of the airport was bought by said airport--and her house was sold separately and trucked north on 77 to Statesville or somewhere!--and she reminded me even then that the land east of Park Road, below Woodlawn and over to Selwyn had originally been the Graham farm, where Billy Graham was born. Plus ça change, plus c'est la même chose...

Edited November 12, 2019 by ertley

[AP3]

The office building at Park and Abbey (next to Brawley's) is also being renovated.

https://www.foundrycommercial.com/core/fileparse.php/2530/urlt/4600-Park-Rd-Flyer_20190808.pdf

[CLT>]

On 11/1/2019 at 1:53 PM, QClifer said:

Guessing townhomes.  They paid big bucks for those homes. 800-900k for atleast 2 of them and that land has some serious topo. I’m sure they will Be nice when finished. 

Same folks that did these:

https://www.hoppercommunities.com/communities/

[QClifer]

meanwhile we have a sand volleyball court at the old Andrew Blairs.   I asked one of the owners kids (childhood friends) when the project would start and he said construction costs were to high right now

[SouthEndCLT811]

Melrose Place has fencing all around it, looks like the replacement apartments are getting ready to start

[QClifer]

1 hour ago, SouthEndCLT811 said:

Melrose Place has fencing all around it, looks like the replacement apartments are getting ready to start

Drove by monday and notice do it was vacant.  It’s abaout time it comes down.  The houses behind it are vacant as well.  Think that street is Dexter

[KJHburg]

these townhomes look good along Woodlawn from Thursday.   Hey if people want to pay $400K+ to live on Woodlawn I am all for it.  

[EllAyyDub]

Montford Drive streetscape improvements this morning (ignore the dirty car & apologies for the blurriness):

 

[AP3]

This looks temporary, like a pilot program.  

[QCxpat]

Today's CBJ - "Plans advance for $30M Overhaul of Montford Park Office Building" by Ashley Fahey.   (Paywall - Subscriber story)

Excerpt:   "The co-developers of a significant overhaul of an office building in Montford Park will soon begin construction.  Renovations are expected to begin this month at One Montford Park, the new name of the nine-story, 145,000-square-foot office building at 4701 Hedgemore Drive off Park Road.   Akridge, based in Washington, D.C., and Charlotte-based Levine Properties are in a joint venture to renovate the building, with an expected investment of about $30 million to bring the building back to market." ... "Renovations will take about 14 months to complete, with anticipated delivery in mid-2021." ... "Gensler will serve as Architect."

Link (Paywall - Subscriber article):  https://www.bizjournals.com/charlotte/news/2020/01/28/plans-advance-for-30m-overhaul-of-montford-park.html 

Edited January 28, 2020 by QCxpat

[KJHburg]

^that building is great even though it is codeveloped with Levine Ackridge from DC is big developer eager to do things in Charlotte.  Actually maybe this will start a partnership on the 1st Ward land holdings.

[kermit]

Wasn't the Park Terrace theater renovation going to give us another Studio Movie Grill sort of place?

[stw52]

1 hour ago, kermit said:

Wasn't the Park Terrace theater renovation going to give us another Studio Movie Grill sort of place?

It is AMC. No food outside of the normal snacks, but there is a bar. There are small theaters with large recliners (including heaters). Don't do what i did and book the first row. You are so close to the screen you are almost vertically looking up at it. Apart from that it is nice.

[InSouthPark]

1 hour ago, kermit said:

Wasn't the Park Terrace theater renovation going to give us another Studio Movie Grill sort of place?

They have a bar if that is what you mean.  No food though.  It is also my favorite theater now.  Watch a movie and then walk over to dot dot dot for a cocktail (or one of the other great spots in there beforehand for dinner). 

[stw52]

? heard from a friend today that the old MacDonalds at Park and Woodlawn is being replaced by a Chase Bank. Is this right? I find it an odd site for a new Chase location.

[KJHburg]

7 minutes ago, stw52 said:

? heard from a friend today that the old MacDonalds at Park and Woodlawn is being replaced by a Chase Bank. Is this right? I find it an odd site for a new Chase location.

Not sure but could be.  as intown locations are hard to come by especially near affluent neighborhoods like Myers Park it could be.  They have announced a couple of other locations in town but they really want to build up a brank network here.  

[SouthEndCLT811]

13 hours ago, stw52 said:

? heard from a friend today that the old MacDonalds at Park and Woodlawn is being replaced by a Chase Bank. Is this right? I find it an odd site for a new Chase location.

Yes this is true.  Went to pick up Cava on Friday night and they have a coming soon sign for the Chase branch