Missmylab4

Legacy Union (former Charlotte Observer redevelopment)

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Man, I'm dying to know the anchor tenant. This would be a serious job expansion. I'm hoping this will be a big jobs announcement rather than just WFC or Duke shifting buildings around with the same headcount. We need more big employers in Uptown to justify all the new space for a big tower like this.

Edited by CLT2014

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Curious... I'm sure it depends upon multiple factors, but how much influence (if any) would an anchor tenant have in this scenario regarding the building's final design?     

Agreed with the comment that I can't tell if I will love or hate this building based on the descriptions.

Big thanks to all who share on this forum. 

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50 minutes ago, CLT2014 said:

Man, I'm dying to know the anchor tenant. This would be a serious job expansion. I'm hoping this will be a big jobs announcement rather than just WFC or Duke shifting buildings around with the same headcount. We need more big employers in Uptown to justify all the new space for a big tower like this.

Agreed. 

Do any of you secret-keepers-UPers actually know the tenant for this, or is this a very well-kept secret?

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4 minutes ago, sclark said:

Agreed. 

Do any of you secret-keepers-UPers actually know the tenant for this, or is this a very well-kept secret?

Honestly. While Jayvee and I are keeping the secret of the design, because peoples jobs are at stake. We do not know the tenant. We do think it will be a local expansion instead of a corporate relocation. I think this tower is becoming one of the worst kept secrets in town, and I've heard numerous tenants in the mix for it. I've also heard the same tenants attached to Tryon Place, so time will tell what goes there. I think both are construction imminent though.

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It's really crazy to me how quickly the south side of uptown became the epicenter (no pun intended) of center city. Guess that is what happens when you don't have someone holding onto acres upon acres real estate like the north end of uptown does.

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13 minutes ago, Niner National said:

It's really crazy to me how quickly the south side of uptown became the epicenter (no pun intended) of center city. Guess that is what happens when you don't have someone holding onto acres upon acres real estate like the north end of uptown does.

Well if you think about the neighborhoods that border each quadrant of uptown, its pretty easy to see why. Southend and Dilworth are very much so the closest and most connectable neighborhoods to uptown, and the wealthiest around. I think if Elizabeth Avenue Redevelopment ever happened you would see Trade/Elizabeth Ave have similar rebirth. From an urban perspective this thoroughfare offers the biggest possibility for an urban pedestrian district in the entire Center City. Unfortunately Grubb has a stranglehold. But thats off topic.

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25 minutes ago, ricky_davis_fan_21 said:

Well if you think about the neighborhoods that border each quadrant of uptown, its pretty easy to see why. Southend and Dilworth are very much so the closest and most connectable neighborhoods to uptown, and the wealthiest around. 

YUP... Belmont, Optimist Park, and Lockwood (which has Urban Ministries in between) are not "easy sells" to every new speculator out there. And even when Dilworth wasn't as nice, it was still part of the infamous South Charlotte wedge.

Some north side residents argue (I've heard them) that they don't want as aggressive a "boom" in N Tryon/First Ward, so they're grateful for the slower pace (as infuriating as Levine can be).

But I wonder, when investment does finally move faster on the north side, will there be any difference between how it and its southern counterpart develops? Others rebut that (I've heard them) saying that all they're doing is putting up sandbags against a tsunami.

Edited by SgtCampsalot

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20 minutes ago, SgtCampsalot said:

YUP... Belmont, Optimist Park, and Lockwood (which has Urban Ministries in between) are not "easy sells" to every new speculator out there. And even when Dilworth wasn't as nice, it was still part of the infamous South Charlotte wedge.

Some north side residents argue (I've heard them) that they don't want as aggressive a "boom" in N Tryon/First Ward, so they're grateful for the slower pace (as infuriating as Levine can be).

But I wonder, when investment does finally move faster on the north side, will there be any difference between how it and its southern counterpart develops? Others rebut that (I've heard them) saying that all they're doing is putting up sandbags against a tsunami.

Uptown land is at a premium and land on the north side has few owners, so that means land can be purchased in bulk. 

 

When someone finally does something with land there, it will be massive and in short order. We won't see small scale piece meal development.

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Does anyone know the name of this new development? We can't call it the Charlotte Observer site forever and of course they won't either. As with the speed of the demo of the old Observer building and building permits being filed for superstructure tower I do believe they have an anchor tenant in place. My best guess is Duke Energy for reasons I have stated before but maybe there is a Goldman Sachs component with their new GS Bank that they are ramping up. Anyway it is exciting to be talking about 2 towers that may launch by years end. 

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1 hour ago, KJHburg said:

Does anyone know the name of this new development? We can't call it the Charlotte Observer site forever and of course they won't either. As with the speed of the demo of the old Observer building and building permits being filed for superstructure tower I do believe they have an anchor tenant in place. My best guess is Duke Energy for reasons I have stated before but maybe there is a Goldman Sachs component with their new GS Bank that they are ramping up. Anyway it is exciting to be talking about 2 towers that may launch by years end. 

The name of this new development will be..... The Great Pyramid :rofl:

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15 hours ago, ricky_davis_fan_21 said:

We do not know the tenant. We do think it will be a local expansion instead of a corporate relocation.

Just a glass half full perspective/hope but I wonder if the announcement is being kept quite until after the election and the potential changes that would come with that from a PR perspective.  After all, outside of political hot potato issues, Charlotte/NC as well all know has a really strong pitch for business consolidation/expansion/relocation.  

Personally I hope that it's an expansion of Duke/Piedmont.  Mostly this is based on the hope that the relocation of DEC employees and Piedmont into a new tower would open up the opportunity to redevelop the old Duke HQ, which sits on a massive super block.  

Am I being realistic that in 10 years Stonewall/Church could become the next Trade/Tryon?

 

 

 

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6 minutes ago, cjd5050 said:

Just a glass half full perspective/hope but I wonder if the announcement is being kept quite until after the election and the potential changes that would come with that from a PR perspective.  After all, outside of political hot potato issues, Charlotte/NC as well all know has a really strong pitch for business consolidation/expansion/relocation.  

Personally I hope that it's an expansion of Duke/Piedmont.  Mostly this is based on the hope that the relocation of DEC employees and Piedmont into a new tower would open up the opportunity to redevelop the old Duke HQ, which sits on a massive super block.  

Am I being realistic that in 10 years Stonewall/Church could become the next Trade/Tryon?

I actually had this discussion yesterday. Personally, I don't think they would time it that way, however I am hoping they (and 615 S College) are waiting until after November at the very least.

The reality is though that there are a LOT of major players involved with this project and because of that, it is kept uber secret and quiet. Something like this has a ton of dominoes and if one falls the wrong way they all will. 90% chance Duke is not involved here. 

I would argue Tryon/Stonewall being the next Trade/Tryon, however it will be this entire stretch of Stonewall that matters. 

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5 minutes ago, Jayvee said:

I would argue Tryon/Stonewall being the next Trade/Tryon, however it will be this entire stretch of Stonewall that matters. 

I could see that as well.  Do you know who is in control of the large parking lot on that intersection?  Any plans for it?  Somewhat new to the area so my UP knowledge is about 6 months old.   

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3 minutes ago, cjd5050 said:

I could see that as well.  Do you know who is in control of the large parking lot on that intersection?  Any plans for it?  Somewhat new to the area so my UP knowledge is about 6 months old.   

Tryon Place

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10 minutes ago, cjd5050 said:

Sorry for the confusion.  Was asking about this parking lot.

Screenshot 2016-08-31 08.59.40.png

That space is broken up into 6 parcels 5 of which are owned by "Consolidated Realty Company." Which after some searches might have been aquired by Crosland, LLC, which was purchased by Northwood and David Ravin, aka Northwood Ravin. ATLRVR, please correct me if I'm wrong. the last .29 ACRE is owned by EASTERN FEDERAL CORPORATION. 

 

 

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I'll just stand by my original assumption.

BTW...the site is totally in-play if you want to write a massive check.

I would say there is no selling pressure at all, but see above re: massive checks are welcome

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4 minutes ago, atlrvr said:

I'll just stand by my original assumption.

BTW...the site is totally in-play if you want to write a massive check.

I would say there is no selling pressure at all, but see above re: massive checks are welcome

I'd go with ATLRVR on this one. And yea. You'd have to spend 30-40M to purchase that land and then build something pretty grand.

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Thought the Cleveland Marriott was a good comparison. Also the Chicago Board of Trade building, albeit a little more sleek and a lot more glass.

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