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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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I still have a hard time believing it could be BoA. Maybe Merrill Lynch I could believe.

 

So with the changing retail/mall scene. I wonder if Simon would actually be much better off partnering (as has been rumored) with Lincoln Harris and adjusting SouthPark to fit a certain strategy vs. a retail presence uptown that reflects the future of changing shopping habits and Southpark reflecting an updated old concept of a mall.

Maybe more opportunities for premium retailers uptown (wonder how rents would be uptown vs. the mall), smaller spaces, have a smaller anchor tenant like a H&M vs. suburban malls have yuge department stores. 

 

I dunno. We can only speculate I guess (those with no inside knowledge) 

 

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5 hours ago, Desert Power said:

It would just be so damn stupid for BofA to put that many employees several blocks away from the rest of their employee base.  crap, it is definitely BofA.

No it wouldn't. The entire bank is basically virtual and the employees all being together really does not matter at all. They have a ton of people in gateway which is basically the same distance away. By them going to this building they not only get the aforementioned signage opportunities for the stadium coverage, but they also get to anchor the Stonewall district, and most importantly to them, stepping on Wells and Duke's turf. It makes a ton of sense. 

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43 minutes ago, Jayvee said:

No it wouldn't. The entire bank is basically virtual and the employees all being together really does not matter at all. They have a ton of people in gateway which is basically the same distance away. By them going to this building they not only get the aforementioned signage opportunities for the stadium coverage, but they also get to anchor the Stonewall district, and most importantly to them, stepping on Wells and Duke's turf. It makes a ton of sense. 

 

Virtual? They're pulling people away from home and moving people to CLT & NYC. 

Maybe the reason Gateway isn't so bad being farther away, along with Odell is they are more Technologies dominated vs. Plaza, 1BAC & Corp. 

 

BoA probably doesn't care about visibility of a skyscraper in BoA stadium. 

Pretty sure they don't care about stonewall district 

and I'm positive they have zero care about turf.

 

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14 minutes ago, AirNostrumMAD said:

 

Virtual? They're pulling people away from home and moving people to CLT & NYC. 

Maybe the reason Gateway isn't so bad being farther away, along with Odell is they are more Technologies dominated vs. Plaza, 1BAC & Corp. 

 

BoA probably doesn't care about visibility of a skyscraper in BoA stadium. 

Pretty sure they don't care about stonewall district 

and I'm positive they have zero care about turf.

 

By virtual I mean working side by side is not necessary, not talking about mywork/work from home. The rest you are incorrect about. Look at what happened in Minneapolis over US vs Wells. They 100% care about being on a prospering side of town, and the turf thing is fun to pretend they care about. And those things add up way more than them caring about "separation" 

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If Dodd Frank gets overturned.... ironically the bank stocks will probably fly through the ceiling but they could also let thousands of people go in places like Charlotte, New York, etc... Given all the recent political changes, makes me wonder why they would want so much more space. Only thing that would make sense is re-locating some of Merrill to NC from NJ/NY. 

Edited by CLT2014
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40 minutes ago, CLT2014 said:

If Dodd Frank gets overturned.... ironically the bank stocks will probably fly through the ceiling but they could also let thousands of people go in places like Charlotte, New York, etc... Given all the recent political changes, makes me wonder why they would want so much more space. Only thing that would make sense is re-locating some of Merrill to NC from NJ/NY. 

BINGO last sentence. Why have 1000s of people in space that cost 2 or 3x as much when bank profits are still under pressure? Why is Wells growing so rapidly here versus in San Francisco and the Bay area? Same reason.  However I do not agree that banks will let thousands go because Dodd Frank is not all going away.  Plus if the bank is growing it would not need to get rid of people on such a large scale. 

Edited by KJHburg
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46 minutes ago, KJHburg said:

BINGO last sentence. Why have 1000s of people in space that cost 2 or 3x as much when bank profits are still under pressure? Why is Wells growing so rapidly here versus in San Francisco and the Bay area? Same reason.  However I do not agree that banks will let thousands go because Dodd Frank is not all going away.  Plus if the bank is growing it would not need to get rid of people on such a large scale. 

Yes. They would realign people and the bank still has thousands of regulations to deal with outside of DF in the US, not to mention the jillion's of global regulations. 

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3 hours ago, Jayvee said:

No it wouldn't. The entire bank is basically virtual and the employees all being together really does not matter at all. They have a ton of people in gateway which is basically the same distance away. By them going to this building they not only get the aforementioned signage opportunities for the stadium coverage, but they also get to anchor the Stonewall district, and most importantly to them, stepping on Wells and Duke's turf. It makes a ton of sense. 

Agree to disagree.

It really is a PITA to have people you work with spread between Corporate Center, Odell, Transamerica, and Gateway.  Adding another building in another part of town makes it worse

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1 minute ago, Desert Power said:

Agree to disagree.

It really is a PITA to have people you work with spread between Corporate Center, Odell, Transamerica, and Gateway.  Adding another building in another part of town makes it worse

How so?  I am assuming that they cluster departments together so it's not like a marketing team would have 5 people in each of the buildings.  Just what interactions are you talking about that are going to be problematic based on the spread between these buildings?

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Just now, cjd5050 said:

How so?  I am assuming that they cluster departments together so it's not like a marketing team would have 5 people in each of the buildings.  Just what interactions are you talking about that are going to be problematic based on the spread between these buildings?

Yea I'm not really getting this. When I worked for a big company, as a director, there were departments that I never once interacted with in my 6 years of service. Our creative and executive operations were in Midtown Manhattan. Operations, Human Resources, production, etc were all in new jersey. Never once was a pain in the ass working with our Opps in New Jersey, except maybe HR, lol.

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If you work for the bank and work with departments beyond your group it can be a haul. I used to have to somewhat regularly traipse between 3 Wachovia/Wells and go to the Carillon building. Was a fairly long walk that meant factoring in time on either side of a meeting just to get there and back. Not a reason not to build a building on the other side of town but worth taking into consideration. 

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It is still easier to walk 10 minutes then hop in your car and find a parking space then get to a meeting. One thing everyone seems to be forgetting is Lincoln Harris and Bank of America have a long history. LH and its affiliates developed Bank of America Corporate Center and Transamerica Square on N Tryon. A 5 block walk is nothing if a face to face meeting needs to take place. Look at Wells Fargo they have a 2 million sq ft campus in University Research Park, millions of square feet uptown and now 288,000 sq ft in Ballantyne.  Look at TIAA with a huge 750,000 sq ft campus in University Research Park and they just leased 140,000 sq ft whole building in Ballantyne for some of their people. 

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4 minutes ago, KJHburg said:

It is still easier to walk 10 minutes then hop in your car and find a parking space then get to a meeting. One thing everyone seems to be forgetting is Lincoln Harris and Bank of America have a long history. LH and its affiliates developed Bank of America Corporate Center and Transamerica Square on N Tryon. A 5 block walk is nothing if a face to face meeting needs to take place. Look at Wells Fargo they have a 2 million sq ft campus in University Research Park, millions of square feet uptown and now 288,000 sq ft in Ballantyne.  Look at TIAA with a huge 750,000 sq ft campus in University Research Park and they just leased 140,000 sq ft whole building in Ballantyne for some of their people. 

I think the reason it feels out of left field is there is still buildable land on North Tryon.  Obviously walking a few blocks is preferable to driving 30 minutes. 

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4 hours ago, cjd5050 said:

How so?  I am assuming that they cluster departments together so it's not like a marketing team would have 5 people in each of the buildings.  Just what interactions are you talking about that are going to be problematic based on the spread between these buildings?

Not within departments; all of my current team is remote.  More problematic making connections across the org, particularly with tech/ops groups.  I'm big on building relationships face to face where possible.

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5 hours ago, ricky_davis_fan_21 said:

Yea I'm not really getting this. When I worked for a big company, as a director, there were departments that I never once interacted with in my 6 years of service. Our creative and executive operations were in Midtown Manhattan. Operations, Human Resources, production, etc were all in new jersey. Never once was a pain in the ass working with our Opps in New Jersey, except maybe HR, lol.

Yep... I spent nine years with B of A and I think I had one meeting at Gateway the whole time I was there. B of A is a big, big company with lots of silos.

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1 hour ago, Desert Power said:

Not within departments; all of my current team is remote.  More problematic making connections across the org, particularly with tech/ops groups.  I'm big on building relationships face to face where possible.

It's 500k of space.  I would assume that each building would have it's own team or teams of tech/ops.  It's a company where the CEO does not even work in the same city as the HQ.  I think a short walk down the same road isn't too much of a trouble.  

As you say...agree to disagree.

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On 2/1/2017 at 0:07 PM, ricky_davis_fan_21 said:

The Parking deck will have two levels below ground. Supposedly the mint side is already low enough for the two levels, so not much will have to be graded.

So, I was trying to go back in this thread to find out why they are not doing a large underground parking garage like Duke Energy Center next door.  I'm kind of lost (outside of possible continued remediation costs the deeper they dig) as to why they would not want/need to have a good amount of parking under this building - especially with all of the proposed retail above.  And I do have to bring up the subject that we are losing more and more parking spaces for people Uptown (those of us that work there and are not on the Blue Line).  It becomes more and more difficult to find a spot that is reasonable to park on a monthly basis.  I know that there are a lot of UP'ers that love the fact that we lose more and more barren parking lots Uptown - and I do agree.  However, I would think that LH would want to make every convenience available to the future workers and shoppers to have an ample supply of parking.  Just my two cents tossed in!

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On 2/15/2017 at 8:22 PM, JRNYP2C said:

So, I was trying to go back in this thread to find out why they are not doing a large underground parking garage like Duke Energy Center next door.  I'm kind of lost (outside of possible continued remediation costs the deeper they dig) as to why they would not want/need to have a good amount of parking under this building - especially with all of the proposed retail above.  And I do have to bring up the subject that we are losing more and more parking spaces for people Uptown (those of us that work there and are not on the Blue Line).  It becomes more and more difficult to find a spot that is reasonable to park on a monthly basis.  I know that there are a lot of UP'ers that love the fact that we lose more and more barren parking lots Uptown - and I do agree.  However, I would think that LH would want to make every convenience available to the future workers and shoppers to have an ample supply of parking.  Just my two cents tossed in!

Rock.

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