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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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8 hours ago, RANYC said:

Purely speculation, but one of the reasons buildings remain low-rise on niche lots of an otherwise dense district are parking constraints.  In the current market, an intensification of uses often accompanies an intensification of parking requirement.  If there isn’t the space for both use intensification AND adjacent parking intensification, then the use remains low-level.  

I’ve seen cities where the construction of a high-rise office actually stimulates the market for parking on surrounding lots that were full of a density of low-rise structures.  The high-rise’s intensity and its drawing in of suburban drivers who outnumber spaces in the building’s embedded parking structure then put demolition pressure on surrounding low-rise structures.  Eventually, those structures fall and surface parking results.  Hence why I have the view that high-rises in American cities have been deleterious and so overrated.

Part of the reason I have always heard is that the 230 South Tryon condos pool is behind the 1 story Ruths Chris.  Basically I was told they did not want a taller building shadowing their pool even more so their condo tower.  I love the fact it is 1 story and with acres and acres of vacant land and surface lots we have plenty of places to build high rises on. 

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Quiet as Kept - LU4 keeps chugging away!  This project has overall contributed well to Uptown’s success as a Major Employment Center.  I do think the last two (2) Parcels may be developed as Not Office (Looking at you Honeywell) since the Market has slowed considerably for new office starts.  Hospitality is a possibility but would have to be big to justify the cost of being here and I think for the foreseeable future hotels here will build smaller like 250 Rooms or smaller.  Residential is a very good possibility but facing substantial headwinds from everything going on and planned in SouthEnd.

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1 minute ago, navigator319 said:

SVB bank is imploding today. Aren’t they a tenant here?

Yes I just read that and no they are a tenant at the Line with their securities division.  According to what I read a lot of upstart tech companies are pulling money out because they need it.  But the bank said it is in good shape.  

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At this point I would settle for the damn pedestrian bridge starting construction. 

Supposed to start soon…. I hope it’s not delayed any further.

Edit: soon- next year lol.

“Project updates

03/06/2023
​The real estate acquisition phase is winding down. Last year's 90% design plan and estimate submission revealed that inflation had affected the pricing of several major materials required for construction. After further investigation of the hostile bid environment, the decision was made to take the project through various value engineering exercises to bring the project's cost estimate down to better align with the project's budget. The design team is currently preparing the plans for a 100% submission in the coming month and then start the bid process later this year in 2023. Construction is expected to start in 2024.” -charlottenc.gov projects.

Hopefully valuable engineering does not affect the overall design aesthetic too much.
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51 minutes ago, JeanClt said:


Supposed to start soon…. I hope it’s not delayed any further.

Edit: soon- next year lol.

“Project updates

03/06/2023
The real estate acquisition phase is winding down. Last year's 90% design plan and estimate submission revealed that inflation had affected the pricing of several major materials required for construction. After further investigation of the hostile bid environment, the decision was made to take the project through various value engineering exercises to bring the project's cost estimate down to better align with the project's budget. The design team is currently preparing the plans for a 100% submission in the coming month and then start the bid process later this year in 2023. Construction is expected to start in 2024.” -charlottenc.gov projects.

Hopefully valuable engineering does not affect the overall design aesthetic too much.

That stinks but isn’t surprising.  I kinda wish they did wait.  Wait until better economic conditions to build something memorable and not half-baked.  This is supposed to be kind of iconic for the city, is it not?   Is it worth waiting to do it right?

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11 hours ago, turbocraig said:

That stinks but isn’t surprising.  I kinda wish they did wait.  Wait until better economic conditions to build something memorable and not half-baked.  This is supposed to be kind of iconic for the city, is it not?   Is it worth waiting to do it right?

It's pretty uncommon for construction projects to actually get less expensive by waiting to start construction.

Edited by nicholas
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