Crescent Stonewall Station

[BullDurhamer]

is this really going to be a whole foods or the new discounted whole foods that are coming to market?  apparently this company is really struggling.  hope this doesn't negatively impact this project. 

[Dub_Ag]

Don't expect any imminent construction as Crescent still does not own the City property. They have paid the City of Charlotte over $350K (which is non-refundable and not applied to the purchase price) to delay the closing date on this property for the eighth time. The current closing date is November 13, 2015

They have made the following commitments to the City:

-400 Apartments and 40,000 sq ft of retail space by Nov 1, 2016

-150 hotel rooms and 15,000 square feet of retail space by November 1, 2017

-150 hotel rooms by November 1, 2019.

If the deadlines are not met they come with financial penalties. I really don't see them being able to get the 400 apartments and Whole Foods complete in a years time.

 

 

•  

Why would Crescent need to be making such commitments to the City? Is the City funding the project in any way? If not, why would the City have any financial leverage over such delivery commitments?

[Niner National]

Why would Crescent need to be making such commitments to the City? Is the City funding the project in any way? If not, why would the City have any financial leverage over such delivery commitments?

Competitive bids on the property. Maybe a part of the city choosing wasn't just the highest bid, but who could do something with the property the quickest? There is value to selling to a lower bidder if they're going to build something that significantly improves property values versus someone that might just sit on it for years.

[uptownliving]

Why would Crescent need to be making such commitments to the City? Is the City funding the project in any way? If not, why would the City have any financial leverage over such delivery commitments?

Because Crescent went past the time stated in the purchase contract to close on the property and the city could have put the property back out to bid. So Crescent had to come back with more than "can we have another extension".

[CLTProductions]

Word on the street is that Home2Suites (old news and blah) and Hyatt Centric (awesome!!!) will be the 2 hotel flags here 

[CLTProductions]

Crescent officially closed on the land. Construction start is imminent. They will have a date after thanksgiving

[Deleted.]

On November 12, 2015 at 1:55:55 AM, Jayvee said:

Word on the street is that Home2Suites (old news and blah) and Hyatt Centric (awesome!!!) will be the 2 hotel flags here 

I've also heard about Hyatt Centric, which will be awesome! Hyatt Centric is like Canopy by Hilton, which is going be part of the Levine project in First Ward. 

 

Edited November 17, 2015 by Piedmont767
Got confused with two projects

[CLTProductions]

5 minutes ago, Piedmont767 said:

I've also heard about Hyatt Centric, which will be awesome! Hyatt Centric is like Canopy by Hilton, which is going be part of the Levine project in First Ward. 

That's brilliant! I assume we will know the height of Tryon Place very soon. The idea of a 600' building is mouth-watering. 

Tryon Place may be a bit longer before we hear anything official there. I'm like 90% sure now that it's Home2Suites and Hyatt Centric. However, Hilton may still be interested in doing both hotels

Edited November 17, 2015 by Jayvee

[Deleted.]

52 minutes ago, Jayvee said:

Tryon Place may be a bit longer before we hear anything official there. I'm like 90% sure now that it's Home2Suites and Hyatt Centric. However, Hilton may still be interested in doing both hotels

Well if Hilton does both hotels, I would like to see Waldorf Astoria or Conrad hotel. But that probably wouldn't happen. 

 

Edited November 17, 2015 by Piedmont767
Got confused with Tryon Place and Stonewall.

[CLTProductions]

36 minutes ago, Piedmont767 said:

Well if Hilton does both hotels, I would like to see Waldorf Astoria or Conrad hotel. But that probably wouldn't happen. 

So of construction is to begin soon, wouldn't we know final plans for the tower? 

No these are 2 completely different projects. Tryon Place is the office/hotel tower on the Goodyear site, this is the Whole Foods project. And yeahhhhhh Waldorf or Conrad wouldnt happen on this site in a billion years.

Edited November 17, 2015 by Jayvee

[Deleted.]

4 minutes ago, Jayvee said:

No these are 2 completely different projects. Tryon Place is the office/hotel tower on the Goodyear site, this is the Whole Foods project. And yeahhhhhh Waldorf or Conrad wouldnt happen on this site in a billion years.

Oh yes, so sorry. Still hungover 

So construction on the Whole Foods will begin soon, but Tryon Place won't? 

Edited November 17, 2015 by Piedmont767

[15895]

9 hours ago, Jayvee said:

Tryon Place may be a bit longer before we hear anything official there. I'm like 90% sure now that it's Home2Suites and Hyatt Centric. However, Hilton may still be interested in doing both hotels

 

Wrong thread but I don't want to bump a thread for a simply clarification. It's been said that Tryon Place will begin by years end. If I remember correctly it was targeted for construction 1Q16. Then it articles and people started saying 4Q15. When you say a "bit longer" ... Do you mean UrbanPlanet "a big longer" as in a few months or a bit long as in like.... 3-4 weeks?

[CLTProductions]

7 hours ago, AirNostrumMAD said:

 

Wrong thread but I don't want to bump a thread for a simply clarification. It's been said that Tryon Place will begin by years end. If I remember correctly it was targeted for construction 1Q16. Then it articles and people started saying 4Q15. When you say a "bit longer" ... Do you mean UrbanPlanet "a big longer" as in a few months or a bit long as in like.... 3-4 weeks?

Utility relocation will hopeeeeefully begin by end of the year, but that is a definite 2018+ completion project

Edited November 18, 2015 by Jayvee

[Deleted.]

6 hours ago, Jayvee said:

Utility relocation will hopeeeeefully begin by end of the year, but that is a definite 2018+ completion project

Still the wrong thread but:

When is ground breaking expected? 

[CLTProductions]

11 minutes ago, Piedmont767 said:

Still the wrong thread but:

When is ground breaking expected? 

Ask in the Tryon Place thread, ground breaking for this is expected end of year, for Tryon Place, sometime next year.

[Deleted.]

1 minute ago, Jayvee said:

Ask in the Tryon Place thread, ground breaking for this is expected end of year, for Tryon Place, sometime next year.

I did ask but I didn't get an answer and considering which got on to the topic of Tryon Place I asked. 

[CarolinaCrown]

[HopHead]

This is what I think of when looking at this site now: https://www.youtube.com/watch?v=73tGe3JE5IU

[captainjack]

Merry Christmas!

[HopHead]

Is it me, or has the look of this project changed (for the better) a little bit as well? It looks more inviting and not quite as bland as the first set of renderings. I like the brick on the lower level residential portion and rustic orange looking Whole Foods signage. The 20 story apartment building seems to have more glass than I remember too. 

[CLTProductions]

1 minute ago, HopHead said:

Is it me, or has the look of this project changed (for the better) a little bit as well? It looks more inviting and not quite as bland as the first set of renderings. I like the brick on the lower level residential portion and rustic orange looking Whole Foods signage. The 20 story apartment building seems to have more glass than I remember too. 

You are correct, it is more detailed and has much higher quality materials. Also, this will be exciting for everyone: groundbreaking is January 6

[HopHead]

And just like that, CLT Biz Journal story on January 6th groundbreaking! Says 2017 completion date still. I'm guessing that would be "late" 2017.

http://www.bizjournals.com/charlotte/blog/real_estate/2015/12/crescent-communities-sets-uptown-groundbreaking.html?utm_source=dlvr.it&utm_medium=twitter

[Dale]

Here we go, Uptown Charlotte.

[HopHead]

Anyone plan on going to the ground breaking tomorrow? (cough) Jayvee (cough)

[CLTProductions]

48 minutes ago, HopHead said:

Anyone plan on going to the ground breaking tomorrow? (cough) Jayvee (cough)

You bet. I'll have a new image or two as well.  I wouldn't miss this for the birth of my first born