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Brooklyn Village Redevelopment in 2nd Ward

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Here is the link to the Observer article this morning about the county approving the master redevelopment agreement finally.  Sounds like it might be 2 years before they start moving dirt, and 4 to 5 years before Phase I is complete.  Does that seem slow to anyone else?  At any rate, glad they are making progress.  It will be intriguing to see what kind of vibe 2nd ward has in 5 years.  It will have to be better than the sterile, dead vibe the 2nd ward currently has.

https://www.charlotteobserver.com/news/business/article214635715.html

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Their first phase is heavy on the office space 500K I guess my thought is who is going to lease that.  Most of the financial firms and banks want to be close to Tryon St (and 300 South Brevard is even having trouble leasing its space and it is on the LYNX line) Their office plans seem very ambitious for the next few years especially on the office side.   

Here is the first phase according to BK partners

""In the first phase, the developers will be required to demolish the former Board of Education building, build more than 531,000 square feet of office space, 395 housing units, 108,000 square feet of shops and restaurants, and a 150-room hotel.""


 

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Just now, DMann said:

Anyone want to bet that 2nd Ward gets built out before 1st Ward Levine land?

 

I dunno, Im in the school of thought that thinks Danny Levine will sell out to a big institutional developer in the next year or two. With Crescent talking about making plays at large land grabs uptown, theres only a couple of no brainer swaths of land, and this is the biggest.

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1 hour ago, J-Rob said:

Here is the link to the Observer article this morning about the county approving the master redevelopment agreement finally.  Sounds like it might be 2 years before they start moving dirt, and 4 to 5 years before Phase I is complete.  Does that seem slow to anyone else?  At any rate, glad they are making progress.  It will be intriguing to see what kind of vibe 2nd ward has in 5 years.  It will have to be better than the sterile, dead vibe the 2nd ward currently has.

https://www.charlotteobserver.com/news/business/article214635715.html

Yes, seems grindingly slow to me. First, on the part of the government. Second, on the part of the developer.

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Dan Levine made it clear a while back that after his father passed, Dan no longer had the incentive and drive to follow through with his original plans. I tend to agree with ricky.

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25 minutes ago, Synopsis101 said:

Yikes at Crescent.  :tw_bawling:

I definitely agree. In my completely pointless opinion, Crescent over promises and under delivers e.g. Stonewall Station and (the downgraded) Tryon Place. Yes, I know Crescent did what they had to do with Tryon but still the original plans were awesome. 

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17 minutes ago, CLT704 said:

I definitely agree. In my completely pointless opinion, Crescent over promises and under delivers e.g. Stonewall Station and (the downgraded) Tryon Place. Yes, I know Crescent did what they had to do with Tryon but still the original plans were awesome. 

I don't agree Stonewall Station is underdelivered. I think they delivered exactly what they were advertising, something transformative. I always thought the project was going to be impossible to make attractive, thanks to all the necessary parking, and the lack of street connections across 277. 

 Tryon Place they lost an anchor tenant that wanted the original version, and had to pivot for new clientele. Ally Bank is happy with the tower, so be mad at them. Be mad at hurricane harvey and a nationwide building boom for creating a construction material shortage. Be mad at the huge labor shortage (maybe partially a trump thing). All these things have  lead to rising construction costs that have caused the price of doing business in the industry to skyrocket. And more recently, Steel suppliers are no longer guaranteeing prices much longer than a few months (again a Trump thing). 

Edited by ricky_davis_fan_21
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* First Ward desperately needs an Alex  Mikes equivalent.

(and for Danny to walk away)

Edited by kermit
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2 hours ago, ricky_davis_fan_21 said:

I don't agree Stonewall Station is underdelivered. I think they delivered exactly what they were advertising, something transformative. I always thought the project was going to be impossible to make attractive, thanks to all the necessary parking, and the lack of street connections across 277. 

 Tryon Place they lost an anchor tenant that wanted the original version, and had to pivot for new clientele. Ally Bank is happy with the tower, so be mad at them. Be mad at hurricane harvey and a nationwide building boom for creating a construction material shortage. Be mad at the huge labor shortage (maybe partially a trump thing). All these things have  lead to rising construction costs that have caused the price of doing business in the industry to skyrocket. And more recently, Steel suppliers are no longer guaranteeing prices much longer than a few months (again a Trump thing). 

I KNEW it was Trump!

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I'm already in the camp that Brooklyn Village has over promised and will under deliver.  Not because of their will but rather due to the slow process and undoubtedly changed economic forces (labor shortages, price spikes, over supply, general recession) that'll be at play once any construction does begin in mid to late 2020.  :tw_persevere:

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1 hour ago, Hushpuppy321 said:

I'm already in the camp that Brooklyn Village has over promised and will under deliver.  Not because of their will but rather due to the slow process and undoubtedly changed economic forces (labor shortages, price spikes, over supply, general recession) that'll be at play once any construction does begin in mid to late 2020.  :tw_persevere:

Perhaps.  But delaying this until the current boom ends could help the quality and cost of labor.  The time to be building (if you could get financed) was 2009...

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2 hours ago, JBS said:

Perhaps.  But delaying this until the current boom ends could help the quality and cost of labor.  The time to be building (if you could get financed) was 2009...

Tell me about it. People had to figure out how to get by building cheap as companies. They pivoted, and now have grown accustomed to it. This boom is way different than the last one.

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On 7/11/2018 at 11:10 AM, SgtCampsalot said:

Whomever Levine sells to, it would be nice if they didn't over-deliver parking spaces.

Aside from the Levine deck-bacle, First Ward is the most viable area in Uptown for true car-free living. First Ward is more connected in its street grid, has less highway-style streets, is right on the Blue Line (at-grade, no less!), and will have so many basic amenities within a couple block radius that any company would be cruel to build more than minimum-required parking. 

Totally agree - and if/when the UDO gets adopted, the minimum-required parking for First Ward would be zero for most land uses, with some maximum parking rates implemented.  The entirety of Levine's First Ward holdings fit within a half mile radius of 7th and 9th St stations, qualifying it for TOD-A.  Draft of TOD-A available here

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