CLT Job Sprawl from CBD to Outlying Areas

[Urbanity]

The Brookings Institute has performed a study on "job sprawl" in the 100 largest metro areas in the country based on measurements or where jobs are from within 3 mi; 3-10 mi; 10-35 mi of the CBD. The study was based off of 200-2010 figures.

 

Charlotte is slightly better to average with 23.5% of our jobs within 3 miles of the CBD (national average is 22.9%), but if you look at the graphs of where job growth/locations have gone you clearly see the Ballantyne and University City effect where job growth has gone up 5.2% in the area of 10-35 miles outside the cbd while there has been a loss of that much within the first two closer rings.

 

Personally I think that the balance is decent and will probably continue to grow more in the CBD 3 mile radius as more office projects develop - however we'll always have 2-3 other jobs location magnets in the city which is ok so long as the balance remains.

 

Anyway thought it was a good read.

 

Brookings Institute Study: http://www.brookings.edu/research/reports/2013/04/18-job-sprawl-kneebone

 

Charlotte Specific page: http://www.brookings.edu/~/media/Multimedia/Interactives/2013/job_sprawl/Charlotte.pdf

[DEnd]

I wonder how the numbers look when direct patient care jobs are removed.  Direct Patient care would be health care jobs that basically relate to direct patient care: ie jobs in a doctors office, Hospital Jobs, and nursing homes.  Healthcare is kind of an industry unto itself, and while location is extremely important for it, it can also throw off the "health" of the CBD in a analysis like this. 

[Guest]

This kind of pertains to this thread as its about Job distribution in the Metro. But Smoky Bissell and the Bissell Company make me so damn sick. 
 

I would, but we’re now getting to the point where the integrity of the (Ballantyne) golf course is going to be affected if we don’t keep going high.

When we were on the west side of Johnston Road, every thing is surface parked. So when we came east, in 2005, I was going to start to eat into the golf course. It was our team that said, “Don’t eat into the golf course. There’s only one type of golf course, and that’s an 18-hole regulation course.”

So we went to structured parking, which runs you so much more. You’ve got to have about $3 per foot more in rental (rate) to pay for that structured parking.

We have just been very fortunate that the product is what the market wants. People don’t like parking in the sun in the summer.

I can't believe I thought they went for structured parking because they were wise to the times... It seems they would have rather kept building a sea of parking instead of structured parking, but couldn't steal any land from the Ballantyne golf course. So disgusting.

[Urbanity]

I think the thing to keep in mind with this study is the period it tracked.  Let's face it 2000-2010 was really the major growth years of Ballantyne.   

 

I actually am really pleased with where Charlotte falls in the overall picture knowing that more offices are going to be coming to the CBD.   Also the last parameter of jobs within 10-35 miles is a bit misleading (in my opinion) for Charlotte) as a lot of Ballantyne fall just outside the 10 mile mark from the CBD but is within 11-12 miles of the core.  

[dubone]

Well the Metlife decision to go to B-tyne when the rumors were that it would go uptown.  As a financial services company, it would probably have benefited intangibly by being in the cluster of financial companies, yet the block of space was just not there.  Somehow, the suburban formula is able to get green lights from their banks to build speculative office space, but not uptown.

 

I agree a balance needs to be struck, as it is not good for the world for people to drive so far from where they live for commutes, but outer ring job growth means more impetus for residential growth twice as far out.  That's when we end up with true sprawl, with people in Anson county commuting in.  

[atlrvr]

Well the Metlife decision to go to B-tyne when the rumors were that it would go uptown....somehow, the suburban formula is able to get green lights from their banks to build speculative office space, but not uptown.

 

 

Bissell didn't get construction financing for these buildings.  Ned Curran was quoted in the CBJ that these buildings, and the next ones (which would be maybe 15 stories, and stacked OVER the garage are "self-funded".  I think what this means as opposed to Smokey actually writing a check, they have a line-of-credit they draw on, without needing specific approval for the use of funds.

[rjp212]

Looks to be another 7-story Spec office building going up in the Ballantyne area.  I would hate for Uptown to lose out on another relocation because Developers are too skittish about Uptown's Office Market.

 

http://www.bizjournals.com/charlotte/blog/real_estate/2013/10/trinity-marketing-new-seven-story.html

 

 

[HopHead]

^While I hate seeing yet another spec building go up in Ballantyne, this one won't significantly impact a major relocation (or expansion) from happening in uptown versus the burbs. Luckily we have the Portman tower waiting in the wings, and it seems like that could break ground anytime soon since they are having so much interest. And of course the ever mysterious Crescent "transformational project"