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3-story mixed use building with Self Storage as primary business 96,907 SF on floors 2 and 3 and 11, 914 SF of retail/ restaurant and parking on the ground floor.
Corner of Colonial & Magnolia:
Colonial looking West:
Hillcrest & Magnolia looking east:
GF Site Plan and Site Location:
After being approved by the city in .. 2016 ? and the project stalling out, the land went back on the market and was eventually bought together with the plans which were at that point approved a second time and now we've finally reached demo/construction. While nowhere near as big as 520 Church also being built in the neighborhood right now, this project will still have a huge impact on this block of E Pine St and the neighborhood's image. The buildings being taken were functional, but the townhomes will bring more residents and a breath of fresh air.. extending the newer look of South Eola from S Eola Drive all the way out to the border of the neighborhood at Summerlin Ave.
I'm just as excited to follow this construction as the 520 Church project, they're so different but both bring new residents to South Eola and enhance the image of the neighborhood. If anyone has comments or pictures to share I thought I'd start the topic. Thanks !
The search for this thread was prompted by the big announcement that Crescent Communities is being acquired by Sumitomo Forestry America, a subsidiary of a Japanese firm.
There are many sides to this transaction:
Sumitomo Forestry America will pump more capital and is more vertically integrated now to handle future expansion and also sees huge potential in Charlotte. http://www.charlotteobserver.com/latest-news/article209961859.html in June of 2009 Crescent Resources filed for bankruptcy protection -- in June of 2010 they emerged https://www.bizjournals.com/charlotte/stories/2010/06/14/story2.html Rebranded in 2013 to Crescent Communities. Is Crescent -- being intimately acquainted with the market -- trying to cash out as this development cycle is ending? Or worse -- Crescent sees similarities to 2008 in the economy in general and is cashing out? Lets try to stick in the "market analysis" and stay away from "doom and gloom" - "sky is falling" realm.
I tried to find an existing thread for this, but the one I found is archived and not open for new posts... and it is from the "Great Recession" days.
Recently @Jones_ posted in the Triangle Economic News thread about Kane's desire for better transit at North Hills and how it would be amusing if he ended up being what could light a fire to cause light rail to actually become a thing around here.
This could be a fun exercise in the creativity of people on here. If you had to figure out how to run a light rail line between downtown (let's say the new Union Station) to North Hills, how would you route it? Would you go straight up Capital and over? Would you add a jog over to Five Points? Where would you have stops (if any)? Are the kind of developer that would be frugal/conservative to the community, would you bulldoze a daycare while laughing from your corner office, would you find a balance somewhere in between? Go go go!
I encourage use of Google's MyMaps to facilitiate and share ideas:
I couldn't find a thread for the River District so I made one. I happen to be really excited about the River District, Most U.S. Major cities are on a river. Charlotte is near a river but not on it and I think River District will fill that hole, Most cities that have a river have lots of shopping and dining options along the river.