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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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17 hours ago, KJHburg said:

dont know but I think it is being pitched to this company looking for a HQ that is circling Charlotte maybe for a new home.  could be Fintech firm but maybe something else.  Could be from the west coast maybe not.     I will say this no major office building over 500K will be started without an anchor tenant in this current environment.  that includes this site and the big Midnight diner uptown cabaret site in Southend.  Smaller building might be started as all spec but not big towers way too risky right now. 

Do you think the South End site has a major tenant looking there as well? Or will they move forward with just residential first?  Also, and this is just a guess, I am assuming if they move forward with Office on the next Legacy tower, tower 5 would be residential and tower 6 a hotel + residential? 

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1 minute ago, Blue_Devil said:

Do you think the South End site has a major tenant looking there as well? Or will they move forward with just residential first?  Also, and this is just a guess, I am assuming if they move forward with Office on the next Legacy tower, tower 5 would be residential and tower 6 a hotel + residential? 

Both developers could be pitching the same tenant for an office tower.  Neither office tower would be started without an anchor especially the size talked about in Southend by the midnight diner block.  I do believe a residential tower or hotel at Legacy will happen but Lincoln Harris is an office developer first and I think they would joint venture on the other types.  as for the south end project I don't think it will start without the office tower.  None of this I know for sure but educated guesses. 

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8 minutes ago, KJHburg said:

Both developers could be pitching the same tenant for an office tower.  Neither office tower would be started without an anchor especially the size talked about in Southend by the midnight diner block.  I do believe a residential tower or hotel at Legacy will happen but Lincoln Harris is an office developer first and I think they would joint venture on the other types.  as for the south end project I don't think it will start without the office tower.  None of this I know for sure but educated guesses. 

Makes sense. I have to wonder between companies like Citi, Moody's, MUFG, if there aren't multiple anchors looking around. I am also curious if this same anchor was looking at 110 East. 

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  • 2 weeks later...
On 8/11/2021 at 1:41 PM, KJHburg said:

Both developers could be pitching the same tenant for an office tower.  Neither office tower would be started without an anchor especially the size talked about in Southend by the midnight diner block.  I do believe a residential tower or hotel at Legacy will happen but Lincoln Harris is an office developer first and I think they would joint venture on the other types.  as for the south end project I don't think it will start without the office tower.  None of this I know for sure but educated guesses. 

Quick question, what do we know thus far about this prospective tower on the midnight diner spot? 

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13 hours ago, KJHburg said:

what I have heard multi tower project maybe 2 residential towers and one large tall office tower.  Riverside builds tall as you can see from their Chicago projects.  They must have an anchor tenant pretty much tied up as no one would start a building 650K or MORE as a spec in this market right now.  I have heard rumors of out of state corporate interest.   But one thing I will add their 110 Wacker tower in Chicago was anchored by no less than Charlotte based BofA.   Not saying that is the tenant but they have worked with them before.  This tower the office tower would be uptown height the new tallest building outside the 277 loop. 

So reading the tea leaves here we can expect something like a 30-40 story office tower and two 20-25ish story residential towers?!?!

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40 minutes ago, KJHburg said:

My tea leaves say 40+ office tower and 2 30+ residential towers.

site is pretty big from Carson to Morehead including the Uptown Cabaret site 

It's long but kind of narrow. Probably about the same amount of total space as the Legacy Union site, right? A 40 and two 30s in that amount of space is more dense than Legacy Union or Ally across the street. Either way, it's exciting! 

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17 minutes ago, Madison Parkitect said:

It's long but kind of narrow. Probably about the same amount of total space as the Legacy Union site, right? A 40 and two 30s in that amount of space is more dense than Legacy Union or Ally across the street. Either way, it's exciting! 

Legacy Union is more than twice the size. 

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46 minutes ago, KJHburg said:

Yes but not sure what to call it the Midnight Diner Uptown Cabaret thread or Riverside Development South Tryon site? 

This Legacy thread will go on for many more years until built out.  There is room for at least 3 more towers on the Legacy 2 blocks. 

Maybe Lincoln Harris has a build it and they will come mindset here?  I doubt it, but I just walked by the site it looks clear out? Legacy Union 2 is 80+ percent leased (I think 86%) which is healthy especially in this market... Maybe they go for a Kane approach... 

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