Missmylab4

Legacy Union (former Charlotte Observer redevelopment)

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27 minutes ago, NCMike1990 said:

 

download.jpg

You know that mound has been there a while when it needs a good mowing. I wonder why they never moved it.

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I’m bored. So I was wondering about those rumors a long time ago about Simon partnering up on this project. 

 

Sara Hogan is the contact for leasing:

 

 
Current Responsibilities

Sara Hogan joins Lincoln Harris with over 12 years of retail leasing experience.  Ms. Hogan began her career in the Shopping Center Industry in 2004 and has worked with some of the most notable REITs including Macerich and Simon. Her leasing responsibilities have crossed a broad range of disciplines, demographics and geography. Ms. Hogan's portfolio includes, but is not limited to, SouthPark Mall(Charlotte, NC) Haywood Mall (Greenville SC) West Town Mall (Knoxville, TN) Tyson’s Corner Center (D.C.) Freehold Raceway Mall (NJ) Danbury Fair Mall (CT) and Wilton Mall (Saratoga Springs, NY).

 

Also, her LinkedIn she was with Simon from 2012-2015 and joined Lincoln Harris in 2016. Before that, Macheric (also malls).

 

Thats promising for some good retail.

 

 

 

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1 hour ago, go_vertical said:

We should be hearing something final about the next building to go up here in the coming months right?

I dunno. I think multifamily is softening tremendously. I think theres a chance we hear about a large hotel, and maybe another office tower. I'm not so sure multifamily is a sure thing right now, and I can tell you Lincoln Harris/Goldman Sachs is going to be watching the success of Novel Stonewall Station and 550 Stonewall like hawks. 

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I think it was the newer apt complex across the street from the baseball stadium, not the mint, and they are offering 2 months free rent already, im sure others are as well thats the only sign ive seen out of the sidewalk,  thats not good.   

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31 minutes ago, QClifer said:

I think it was the newer apt complex across the street from the baseball stadium, not the mint, and they are offering 2 months free rent already, im sure others are as well thats the only sign ive seen out of the sidewalk,  thats not good.   

Skyhouse is advertising 2 months at the door, and throwing in a third just to get leases signed.

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1 hour ago, ricky_davis_fan_21 said:

I dunno. I think multifamily is softening tremendously. I think theres a chance we hear about a large hotel, and maybe another office tower. I'm not so sure multifamily is a sure thing right now, and I can tell you Lincoln Harris/Goldman Sachs is going to be watching the success of Novel Stonewall Station and 550 Stonewall like hawks. 

 

54 minutes ago, QClifer said:

I think it was the newer apt complex across the street from the baseball stadium, not the mint, and they are offering 2 months free rent already, im sure others are as well thats the only sign ive seen out of the sidewalk,  thats not good.   

Without going too far OT: even if the rental market dropped a ton, wouldn't Uptown/the inner ring neighborhoods still be where you'd want to be? Even if prices drop a ton, Uptown/inner ring is still the place to be, and would then be even more attractive to renters, because it would then be affordable.
So, short of advocating a full-on recession, wouldn't these areas still be "fine" and the more suburban areas be at risk (sans South Park, Ballantyne, etc)? 

Edited by SgtCampsalot

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Damn, I thought this thing had critical momentum and that stuff was going to be flying out of the ground.

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1 hour ago, SgtCampsalot said:

 

Without going too far OT: even if the rental market dropped a ton, wouldn't Uptown/the inner ring neighborhoods still be where you'd want to be? Even if prices drop a ton, Uptown/inner ring is still the place to be, and would then be even more attractive to renters, because it would then be affordable.
So, short of advocating a full-on recession, wouldn't these areas still be "fine" and the more suburban areas be at risk (sans South Park, Ballantyne, etc)? 

I'm not sure what you mean: without SouthPark, Ballantyne, etc...

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4 minutes ago, jednc said:

I'm not sure what you mean: without SouthPark, Ballantyne, etc...

I think the poster meant high end / high income suburban areas wouldn't see lots of vacancies as those areas have desirability / jobs close by, but apartment complexes in Northlake, Steele Creek, East CLT, South Blvd, etc... would drop in price as residents favor getting closer in to town. I.E. if a 1 bedroom apartment in Uptown dropped from $1,400 to 1,200 a month a 1 bedroom in Steele Creek would drop from $1,100 to $1,000 a month as some residents might make the leap for the Uptown building and cut out their commute.

Edited by CLT2014

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I think once more office comes online, the need for housing will rise again. I feel like this “boom” only happened because of the severe deficit that has existed for so long. We may have reached a point where the demand is leveling off. But honestly I feel like this is just seasonal, housing markets are historically slower during winter months. The same thing happens in University where there has been a glut of apartments for more than a decade. Apartment complexes are just using standard tactics to keep at least some interest flowing. If I’m wrong, I just hope this won’t impact Market 42.

 

What we need now are families to broaden Uptown’s horizons. It will take a much larger cultural shift in Charlotte to get suburbanite commuters and their families to live in Uptown Charlotte. The conveniences they are accustomed to just don’t exist yet. Maybe once Whole Foods, Publix, and some more sundries come online Uptown won’t be as difficult for a family to call home. Even then I’d be astonished to see many families with children living here. Maybe it’s time for the condo market to rebound subtly. IMHO home ownership is much more attractive to families. I’d love to see condos as part of this complex, if even only a limited amount.

 

 

 

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2 minutes ago, CLT2014 said:

I think the poster meant high end / high income suburban areas wouldn't see lots of vacancies as those areas have desirability / jobs close by, but apartment complexes in Northlake, Steele Creek, East CLT, South Blvd, etc... would drop in price as residents favor getting closer in to town. I.E. if a 1 bedroom apartment in Uptown dropped from $1,400 to 1,200 a month a 1 bedroom in Steele Creek would drop from $1,100 to $1,000 a month as some residents might make the leap for the Uptown building and cut out their commute.

You might be right. I thought of that based on the wording, but the context implied those were examples of places that would be hurt so I wasn't sure.

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Honestly, it's not the lack of shopping that precludes families from living Uptown.  It's the schools.  Schools in Myers Park, Ballantyne, Waxhaw, etc are really good.  People who live there will never send their kids to inner city schools.

I may get a flurry of responses calling me a d..ick, but it's true.

Young couples with infants will live Uptown and then move to a better school district when their kids are older, but no one with school age kids will live there.

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1 hour ago, AuLukey said:

Maybe it’s time for the condo market to rebound subtly. IMHO home ownership is much more attractive to families. I’d love to see condos as part of this complex, if even only a limited amount.

This is exactly what I was thinking after reading RDF''s reply. This would be an ideal project to reintroduce condos to the market. And it doesn't need to be something massive either. I would be very happy with ten to twelve floors as long as it's owner occupied.

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7 minutes ago, SydneyCarton said:

Honestly, it's not the lack of shopping that precludes families from living Uptown.  It's the schools.  Schools in Myers Park, Ballantyne, Waxhaw, etc are really good.  People who live there will never send their kids to inner city schools.

I may get a flurry of responses calling me a d..ick, but it's true.

Young couples with infants will live Uptown and then move to a better school district when their kids are older, but no one with school age kids will live there.

Bingo. Uptown School districting sucks. 

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