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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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28 minutes ago, Jayvee said:

Remember when people said we were crazy for thinking BofA was going in this building because they had their own police station land to develop? Welp, they're selling that land soooo

There is something to be said about location location location.  If they want prominent visibility, there is no better spot. 

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2 hours ago, Jayvee said:

Remember when people said we were crazy for thinking BofA was going in this building because they had their own police station land to develop? Welp, they're selling that land soooo

Not so fast... 

the plot might be thickening, stay tuned.

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21 minutes ago, J-Rob said:

I have some questions on this too, lol.  Is this an old article since it mentions looking for a construction loan?  Is Goldman not the entity providing the financing to begin with?

No...Goldman is the equity partner, not providing debt.  They have been funding everything to date with equity, but at some point they will "need" a construction loan.  This is pretty normal with deep-pocked investors/developers, as in starting without having financing lined up.

This is a brand new article from the most regarded weekly Commercial Real Estate finance newsletter.

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7 minutes ago, atlrvr said:

No...Goldman is the equity partner, not providing debt.  They have been funding everything to date with equity, but at some point they will "need" a construction loan.  This is pretty normal with deep-pocked investors/developers, as in starting without having financing lined up.

This is a brand new article from the most regarded weekly Commercial Real Estate finance newsletter.

So are we talking a new tower they've committed that space to? Because our tower here is 1m SF. Unless that number includes the retail and lobby too and the tower is just the 845k SF of office?

does the article specifically site 620 S Tryon as the tower BofA is going to?

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1 minute ago, Jayvee said:

So are we talking a new tower they've committed that space to? Because our tower here is 1m SF. Unless that number includes the retail and lobby too and the tower is just the 845k SF of office?

does the article specifically site 620 S Tryon as the tower BofA is going to?

620 S. Tryon is a 1m sq foot shell. 

Edited by Guest
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14 minutes ago, Jayvee said:

So are we talking a new tower they've committed that space to? Because our tower here is 1m SF. Unless that number includes the retail and lobby too and the tower is just the 845k SF of office?

does the article specifically site 620 S Tryon as the tower BofA is going to?

yes

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^ I suspect the thickening plot may involve the police station parcel. Ely's article says the city was told by BoA that the parcel was being sold -- however BoA has since said that the parcel was not for sale (but they still want CMPD out)

Edited by kermit
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5 minutes ago, kermit said:

^ I suspect the thinking plot may involve the police station parcel. Ely's article says the city was told by BoA that the parcel was being sold -- however BoA has since said that the parcel was not for sale (but they still want CMPD out)

Correct. 

17 minutes ago, atlrvr said:

yes

Yes to which question? Lol 

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4 minutes ago, Nick2 said:

Forgive my ignorance but which lot is being referred to with the police station?

I'm excited to see what is actually done specifically with all these details.

CMPD station on 7th St. 

 

 

Back to CO, I'm confused lol, what's actually going on with this tower?

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31 minutes ago, Matthew.Brendan said:

Condos in Charlotte? lol. I think you mean more expensive apartments. 

With the real estate market improving, condos are overdue.

 

I'd like to see an iconic, 1000'+ tower like Tower Verre, which is rising at 53 W 53rd in Gotham City, or the Stairway to Heaven, which is rising at 111 W 57th St.

Edited by edmundblackadder1999
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6 minutes ago, edmundblackadder1999 said:

With the real estate market improving, condos are overdue.

 

I'd like to see an iconic, 1000'+ tower like Tower Verre, which is rising at 53 W 53rd in Gotham City, or the Stairway to Heaven, which is rising at 111 W 57th St.

towers who's economics work in maybe 3 cities worldwide.

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Just now, edmundblackadder1999 said:

But I'm assuming that a tower like those could be built in Charlotte for a fraction of the price.

There is no reason for a building like that in charlotte because of available developable space. Not to mention the price it would cost to develop, the condos would have to be around 1,000 per sq feet. Something that would never fly in Charlotte. 

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