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Charlotte Metro Tower | 40 Story Duke Energy Tower

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Unfortunately, I don't see the convention hotel being built anytime soon.  Between the current funding requests by the city/region, and several economic indicators throwing red flags about a looming recession in the next 9-18 months,  this will sit in developmental hell for the foreseeable future.  Any projects that haven't started construction by Q4 of this year (or early Q1 of next year potentially) I think will be victims of the turn in the economy and be shelved indefinitely. 

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3 hours ago, carolinaboy said:

There already is a tax on car owners who live in or around uptown (and everywhere else for that matter).  If you own a car, you pay yearly property tax on it.

I'm really not sure how to respond to this, if you honestly think I'm so dense as to not know the money I paid to the state literally two days ago was  a tax, then I pity you sir. But that's they keyword there, the state I'm talking for the city, like a congestion tax or something to that degree. Trust me, I'm not a fan of taxes, but a financial incentive is always a good way to encourage behavior. This wouldn't be a property tax in the general sense, but more of a flat fee, and over time it will create a zone where folks can within reason live without a vehicle. A little milk and honey, but Charlotte will eventually reach a critical mass, lets be ready for it. 

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12 minutes ago, nakers2 said:

I'm really not sure how to respond to this, if you honestly think I'm so dense as to not know the money I paid to the state literally two days ago was  a tax, then I pity you sir. But that's they keyword there, the state I'm talking for the city, like a congestion tax or something to that degree. Trust me, I'm not a fan of taxes, but a financial incentive is always a good way to encourage behavior. This wouldn't be a property tax in the general sense, but more of a flat fee, and over time it will create a zone where folks can within reason live without a vehicle. A little milk and honey, but Charlotte will eventually reach a critical mass, lets be ready for it. 

Well I wasn't sure if you just rode a scooter around, so.............:D

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2 hours ago, navigator319 said:

 

Timely as I just got my car tax bill in the mail over the weekend.   IDK what you mean by 40% more?? 

I am assuming the Special Districts that are itemized here are because I live Uptown. 

Those should be significant higher if to discourage anything as they are inconsequential to the total bill as it currently stands

Image-23.thumb.png.2a3133760cf3f0b11d8a85ab13feb41f.png

I just used the DMV tax estimator to estimate a $25000 vehicle appraisal. you can use it at https://edmv.ncdot.gov/TaxEstimator

Charlotte (my address) 357

Charlotte (uptown) 373

Rutherford (where I grew up) 172

Belmont 361

Davidson 313

Denver 181

Wesley Chapel 195

Harrisburg 268

Waxhaw 317

Gastonia 380

Shelby 310

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On 7/1/2019 at 11:35 AM, queensguy06 said:

Unfortunately, I don't see the convention hotel being built anytime soon.  Between the current funding requests by the city/region, and several economic indicators throwing red flags about a looming recession in the next 9-18 months,  this will sit in developmental hell for the foreseeable future.  Any projects that haven't started construction by Q4 of this year (or early Q1 of next year potentially) I think will be victims of the turn in the economy and be shelved indefinitely. 

If it’s any consolation, we were hearing this a year ago. 

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This is going to be such an amazing project.

On a side note, I'd love to see a new convention center.  Other peer cities, like Denver, for example, have much nicer ones, and this land could be put to much better use.  I know it won't happen, but I think that it would be nice.

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1 hour ago, navigator319 said:

There is a $100 million reno just beginning.  Also you can expect a separate investment in the next 3-5 years when the duke data center turns to rubble and a connected hotel + space get added   

I know.  I just hoped that this site would have been used for dense residential and retail development.  Maybe in about 20 years....

Edited by SydneyCarton

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8 minutes ago, ricky_davis_fan_21 said:

Heard from a reliable source this grew to 42 floors, and might now be just slightly taller than Hearst.


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Tell me more

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2 hours ago, ricky_davis_fan_21 said:

Heard from a reliable source this grew to 42 floors, and might now be just slightly taller than Hearst.


Sent from my iPad using Tapatalk

Hmmm ...

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Why are we arguing over car taxes!? Legacy Union parking deck has the capacity to serve uptown for the next decade and they keep adding parking decks. Why does every development in Uptown Charlotte have to be accompanied by a parking deck or parking lot?  

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On 7/1/2019 at 9:35 AM, queensguy06 said:

Unfortunately, I don't see the convention hotel being built anytime soon.  Between the current funding requests by the city/region, and several economic indicators throwing red flags about a looming recession in the next 9-18 months,  this will sit in developmental hell for the foreseeable future.  Any projects that haven't started construction by Q4 of this year (or early Q1 of next year potentially) I think will be victims of the turn in the economy and be shelved indefinitely. 

 

On 7/7/2019 at 7:05 AM, Dale said:

If it’s any consolation, we were hearing this a year ago. 

But a year ago we did not have a yield curve inversion.  The yield curve had been flattening out and sloping down for more than a year, and that was one of the reasons you had some pointing to the possibility that the market was headed that direction.  But for the first time, we just had three consecutive months (or 1 full quarter) of long term interest rates paying out less than short term interest rates, otherwise known as a yield curve inversion.  It indicates that investors' long term view of the market is not good.  And the big red flag is that  the last seven recessions going back over 50 years were all preceded by a three month yield curve inversion with a following recession occurring anywhere from 9-18 months after. 

Obviously I'm no soothsayer, and for every economist pointing to a recession you have another touting the strength of the markets and low unemployment currently.  But I personally use this metric as a cautionary point that dictates how I'm investing over the next year.

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