atlrvr

2nd Ward Midrise Projects (Stonewall parcels, Brooklyn Village)

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The Adam's Mark brand is dying.......the company that own's all the AM branded hotels are trying to unload their portfolio nationwide. They've sold most of them and just Charlotte and few other cities are left. The problem they've had in Charlotte is that the company that own's the AM buildings, also owns the Cameron Brown building and has so far insisted that all 3 buildings get sold as a package. I don't forsee anything happening unless they will separate the uses or can find a buyer who can dispose of the office building.

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Anybody know what's going in at Caldwell and Stonewall, next to the Hilton Garden? It appears to be 1 story office buildings. I'd think that they would have tried to use the space better and build a little higher since space is at such a premium inside the loop.

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Caldwell and Stonewall, that should be the new Metro School. It is a school the county is building uptown for um.....slow and retarded kids from what I understand.

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Why can't they build it in the burbs? It is taking up valuable Uptown space! No offense to all you slow learners out there.

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The Adam's Mark will have a big announcement within the next few months.....not much that I can say at the moment, but it will NOT be demolished, though there will be serious site plan renovations to make it more urban.

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The Adam's Mark will have a big announcement within the next few months.....not much that I can say at the moment, but it will NOT be demolished, though there will be serious site plan renovations to make it more urban.

<{POST_SNAPBACK}>

Nice, if all this holds up, we should have a decent boom going on this time next year instead of a bunch of announcements.

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Ok.....those of you who wanted the Adam's Mark torn down may seem your dreams realized. There are BIG plans for the site, though it's too early to get into any details......I'll just say that the developers vision now for those parcels exceeds anything ever considered here in Charlotte.......and yes, it is mostly residential.

I don't know what the time-frame on this one is for announcement, but I would assume by the end of summer......of course, I'm always skeptical when out of town developers have grand plans, so there are no promises being made.

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Ok.....those of you who wanted the Adam's Mark torn down may seem your dreams realized.  There are BIG plans for the site, though it's too early to get into any details......I'll just say that the developers vision now for those parcels exceeds anything ever considered here in Charlotte.......and yes, it is mostly residential.

I don't know what the time-frame on this one is for announcement, but I would assume by the end of summer......of course, I'm always skeptical when out of town developers have grand plans, so there are no promises being made.

<{POST_SNAPBACK}>

That sounds great, as it is pretty much a dull area of town right now. Wonder if they're keying on the Elizabeth development?

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I was wondering that....also, the Midtown Square redev., which is right around the corner though it seems a lot further away......

That part of town is dead, though it does have spectacular views of the skyline.....and the city is planning 2nd Ward to be low/mid rise, so a tower back there would have an unineterrupted view.

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Ok.....those of you who wanted the Adam's Mark torn down may seem your dreams realized.  There are BIG plans for the site, though it's too early to get into any details......I'll just say that the developers vision now for those parcels exceeds anything ever considered here in Charlotte.......and yes, it is mostly residential.

I don't know what the time-frame on this one is for announcement, but I would assume by the end of summer......of course, I'm always skeptical when out of town developers have grand plans, so there are no promises being made.

<{POST_SNAPBACK}>

Details please o please, lol. No seriously, we didn't hear it from you, but approx in what range would the # of residential units (be they condos or apartments) be?

We won't tell!!! I can't wait, 2nd Ward needs this.

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Well......I can tell you what is already public knowledge......a NYC firm is rumored to have an option on the site (including the 14.7 acres of land)

The listed price is for the three buildings (2 hotel and 1 office) is $52M. The average uptown condo sells for about $280k, and land is usually accounts for about 10% of the sales price in a high-rise condo.........this will test some math skills, but I will say that they are looking to turn an even bigger profit (based on land to sales ratio) than the numbers would indicate.

It's just like a high-school word problem.

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Well......I can tell you what is already public knowledge......a NYC firm is rumored to have an option on the site (including the 14.7 acres of land)

The listed price is for the three buildings (2 hotel and 1 office) is $52M.  The average uptown condo sells for about $280k, and land is usually accounts for about 10% of the sales price in a high-rise condo.........this will test some math skills, but I will say that they are looking to turn an even bigger profit (based on land to sales ratio) than the numbers would indicate.

It's just like a high-school word problem.

<{POST_SNAPBACK}>

not to get off subject, but Ho's Ho's was great....Thanks again for the tip. Can't wait to see what will happen with the ol' Adam's Mark. :D

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Hey......I just laid out public and common knowledge.....I'm just confirming that someone believes that they can build enough to justify demolishing the existing buildings.......I'm not in the getting sued mood today, so I will refrain from adding more until I can. Besides, I told you everything you needed.

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Yep.....that's the company.....really the only thing that I was adding is that this now appears to be a complete tear-down and not upfit.....which means they need a lot more units to make the numbers work.

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Ok I'm going to do some math here.

$52M time 10 is $520M. $520M divided by $280k =

approximately 1857 condos!!!! That would be massive!!!

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Yep......and that's just what they need to build to make it work......perhaps they're interested in making a bit more $$$$ ;)

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hhhmmm....1857+ units. very interesting, the seven planned towers in uptown combined add up to a little under 1700 units. Can't wait to see what they have in store, although i must say i'm quite skeptical.

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Color me skeptical.

However, if the Vue, Avenue and Trademark sell out after completion, someone might be tempted to throw more units into the mix in a grand way. If the development included office and commericial along with the condos, we might actually see a mini-skyline show up between the CBD and Midtown.

Word.

Still...I don't see it. That's just too much money to sink into a project in Charlotte. Something like that would be a big announcement even in New York or Chicago.

...but to play devil's advocate here for just a moment. What if the project also included the rumored Sugar Creek uncovering and widening (ala Riverwalk in San Antonio?).

All of a sudden, you have the only "waterfront" land in uptown.

Hmmmm....

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I did a Google Search on that company. The only thing that came up was the article from the business journal. No website, no addresses, no mentions on other websites or in any other media outlets, absolutely nothing. It's almost like the company doesn't exist, I just think that's strange.

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Well, finding no record of the company isn't that big of a surprise.....it's a development or holding company LLC, that usually is created for a project specific reason.

I will say the real company behind this actually makes blue jeans....lol.....must have sold a lot of jeans.

I too am skeptical.....not that they can't afford to do it, but I'm not sure the demand is there yet.....but I agree with RHJ, once the other towers are sold, they could make a solid run at it, especially if they have time to phase this over 5-10 years......

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In Atlanta they have some large condo projects like this, I know Navare has done some very large ones there.

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Ok.....those of you who wanted the Adam's Mark torn down may seem your dreams realized.  There are BIG plans for the site, though it's too early to get into any details......I'll just say that the developers vision now for those parcels exceeds anything ever considered here in Charlotte.......and yes, it is mostly residential.

I don't know what the time-frame on this one is for announcement, but I would assume by the end of summer......of course, I'm always skeptical when out of town developers have grand plans, so there are no promises being made.

<{POST_SNAPBACK}>

This is getting very close to be announced.....it looks like now there will be more than residential involved now.....that said, I still have to be somewhat skeptical, but the buyer of the property does have deep pockets (from out of town).

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This is getting very close to be announced.....it looks like now there will be more than residential involved now.....that said, I still have to be somewhat skeptical, but the buyer of the property does have deep pockets (from out of town).

<{POST_SNAPBACK}>

YEAH !!! :D Give us just a clue Atlrvr. Just a small one. (pretty please)

The suspense is killing me...

Edited by A219724

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