Duke Energy Plaza Headquarters | 40 Story formerly Charlotte Metro Tower

[Scribe]

14 minutes ago, KJHburg said:

Digging a huge underground parking garage between 2 of them could be risky (remember there is a garage under the Harvey B Gantt too).

Additional risk is moderate to low. This is done with every urban project in all the major cities in this country, so the experience/knowledge is there. I think they could bury 4 levels of the garage at least, and I think they should make that a priority.

[KJHburg]

1 minute ago, Scribe said:

Additional risk is moderate to low. This is done with every urban project in all the major cities in this country, so the experience/knowledge is there. I think they could bury 4 levels of the garage at least, and I think they should make that a priority.

Then it is a pure financial decision.  

[Scribe]

5 minutes ago, KJHburg said:

Then it is a pure financial decision.  

Yup...

Still glad to lose that surface lot directly on Tryon!

[elrodvt]

^since there is no design review board or other public input and oversight? Cost should not be the only criteria. For a project this size what percent increase do the experts expect burying the garage would cost?

[southslider]

Maybe they need a 7-level deck to relo the light mural on S Church. 

Edited December 7, 2018 by southslider

[videtur quam contuor]

15 minutes ago, Scribe said:

Additional risk is moderate to low. This is done with every urban project in all the major cities in this country, so the experience/knowledge is there. I think they could bury 4 levels of the garage at least, and I think they should make that a priority.

The Ben Long fresco in St Peters Catholic church was damaged during construction of neighboring property  in 2002 and perhaps Duke is cautious in the care of its historic neighbor. Plus the money.

[Scribe]

1 minute ago, southslider said:

Please relo the light mural on S Church to another blank wall Uptown. Maybe to the side of the Crescent Stonewall deck.

The one from their old Fort -- I mean HQ?

If so, then I agree!

[southslider]

Just now, Scribe said:

The one from their old Fort -- I mean HQ?

If so, then I agree!

Maybe that's why they're going with 7 floors of parking above grade. Need a huge blank wall for that sucker.

[Guest]

30 minutes ago, elrodvt said:

^since there is no design review board or other public input and oversight? Cost should not be the only criteria. For a project this size what percent increase do the experts expect burying the garage would cost?

Probably $35M to have above ground deck 1,400 spaces, and $65M to do below ground.

[Dale]

Confused as whether 25K retail or that ‘plus additional’ ?

[elrodvt]

17 minutes ago, ricky_davis_fan_21 said:

Probably $35M to have above ground deck 1,400 spaces, and $65M to do below ground.

What do you estimate the entire project at? I know it's a wild guess at this point. Trying to get a feeling on the impact of 30M.

[mand1ng0sauc3]

The way I see it is money. $30 million can go into other things rather than a parking deck. The parking fees and $25 game day prices are the same whether they are above or below ground. Utilities have to be cautious too by not gold plating things if any cost was to be recovered.


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[QCxpat]

"Duke Energy to Build 39-story Uptown Tower, sell two buildings," Charlotte Business Journal, by John Downey, 12/07/2018

Points:

• Duke will build new 39 story tower across the street from its DEC headquarters to house 3,600 employees
• Duke will be the only corporate tenant in the 1M square foot bldg.
• 25,000 sq. ft. of retail available on ground floor
• To be developed by Childress Klein, approx. 3 years to completion in 2022
• Duke putting 401 South College and 526 South Church on the market; Duke exiting lease of several floors at 400 South Tryon
• The 401 South College building is on the same block as Charlotte's Convention Center & has long been identified as prime spot for new (1,000 room) convention hotel in Uptown
• Not all Duke employees will be Uptown; 400 will be housed at Optimist Park in NoDa and 100 Duke Energy Renewables at the NASCAR Plaza
• Duke expects to have renderings by March, 2019
• Duke expects to move employees into the new building in 2022
• However, Duke's headquarters will remain in the Duke Energy Center (DEC) across the street at 550 South Tryon Street 

Link to CBJ story:  https://www.bizjournals.com/charlotte/news/2018/12/07/duke-energy-to-build-39-story-uptown-tower-sell.html

Edited December 7, 2018 by QCxpat

[C85]

Legacy Union is 632 feet. It has 33 floors, and if you divide that you get 19.15. If you multiply 19.15 by 39 you get 746.85 feet tall so you never know if it won't be taller than 625 feet.

Edited December 7, 2018 by C85

[xx_.ajj]

I know this is really off topic, but Charlotte needs to entice Belk to build a uptown store. Uptown has been lacking in shopping since they  closed Belk in 1988, and Ivey's in 1990. Hopefully, just like how Dallas has Neiman Marcus downtown, Charlotte will once again have an amazing department store in its core!

[DMann]

If you look at the Gantt AfroAmerican Museum, you will notice that the side facing the proposed Duke building is about 7 garage stories and can easily be blanked out.  If there is a promenade from Tryon to College it could be facing St Peters, and have a very nice access towards The Green.

[CarolinaDaydreamin]

57 minutes ago, xx_.ajj said:

I know this is really off topic, but Charlotte needs to entice Belk to build a uptown store. Uptown has been lacking in shopping since they  closed Belk in 1988, and Ivey's in 1990. Hopefully, just like how Dallas has Neiman Marcus downtown, Charlotte will once again have an amazing department store in its core!

Belk is no longer Belk. It is an out of town VC firm who probably overpaid for the brand alone. Belk has already closed a flagship in Atlanta, and isn't opening large urban stores anymore. 

 

Duke will not be an owner operator. They plan a renter financed building. Basically build their own HQ then sell to a purchaser and rent the building back from them. This typically leads to more conservative, more universal floor plans. I'm gonna love a 660' building, but this isn't going to be the WF, BofA era of flagship buildings. I personally think Duke would be more cost conscious than most Fortune 200 company HQs. Hopefully they bring more Raleigh based employees and add on to the 39 floors. Kind of surprising to have a net DECREASE in floor space, but that is the era we are entering with more remote workers.  

Edited December 8, 2018 by CarolinaDaydreamin

[xx_.ajj]

50 minutes ago, CarolinaDaydreamin said:

Belk is no longer Belk. It is an out of town VC firm who probably overpaid for the brand alone. Belk has already closed a flagship in Atlanta, and isn't opening large urban stores anymore. 

 

 

That's unfortunately true. When they closed the Flagship at Phipps down in Atlanta, I knew they had truly went un-southern.   

[Desert Power]

5 hours ago, KJHburg said:

^^^ Digging a huge underground parking garage between 2 of them could be risky (remember there is a garage under the Harvey B Gantt too). 

Very exciting news and finally a corporate owned tower for the largest investor owned utility in the country.  Their last owner occupied building in uptown Charlotte was the 526 S Church the concrete bunker looking building and that was in the early 1970s I think.   So while all their competitors around the country have new buildings Duke has not.  They are just a tenant in the Wells Fargo owned Duke Energy Center and 400 South Tryon building which I heard years ago they wanted to leave it.  It is always cheaper to own a building than rent in various places uptown.  This is a cost saving move for Duke and I know critics won't see it that way but it is for the long run.  This company is committed to Charlotte uptown Charlotte and the Carolinas for the long run.   I noticed today their building in Raleigh has 2 other office tenants now and I think that will grow as that is a early 1980s building that Progress had.  

Great news and can't wait to see the renderings and hope this is the new 3rd tallest!    Photo of the building site from Sept. 23 2018.    a new addition to Charlotte rising!  Wait till the national media gets here in 2020 and sees the Ally Tryon Place going up and this tower rising.  Plus all the other new buildings just completed. 

This picture and how the straight lines work in it is very trippy

[CarolinaDaydreamin]

2 hours ago, Desert Power said:

This picture and how the straight lines work in it is very trippy

Well that fence is bent...soo...

[Guest]

What do you estimate the entire project at? I know it's a wild guess at this point. Trying to get a feeling on the impact of 30M.

Depends on a lot of factors. Probably $500M


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[Hushpuppy321]

5 hours ago, C85 said:

Legacy Union is 632 feet. It has 33 floors, and if you divide that you get 19.15. If you multiply 19.15 by 39 you get 746.85 feet tall so you never know if it won't be taller than 625 feet.

With Duke planning a 39 Floor building - My conservative height estimate would be 690 - 730 including architectural feature.  Definitely won't be a new Tallest but I believe it will be designed to take  3rd Tallest in Charlotte.  If they build on top of the parking deck then definitely will be 3rd Tallest.  I hope the design is modern and compliments DEC1 in shape and lighting.

[mand1ng0sauc3]

Belk is no longer Belk. It is an out of town VC firm who probably overpaid for the brand alone. Belk has already closed a flagship in Atlanta, and isn't opening large urban stores anymore. 

 

Duke will not be an owner operator. They plan a renter financed building. Basically build their own HQ then sell to a purchaser and rent the building back from them. This typically leads to more conservative, more universal floor plans. I'm gonna love a 660' building, but this isn't going to be the WF, BofA era of flagship buildings. I personally think Duke would be more cost conscious than most Fortune 200 company HQs. Hopefully they bring more Raleigh based employees and add on to the 39 floors. Kind of surprising to have a net DECREASE in floor space, but that is the era we are entering with more remote workers.  

 

A Duke internal document about the announcement of the tower says there are no plans to move employees from Raleigh to Charlotte and that they are committed to maintaining a strong regional HQ presence in the state capital.

 

 

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[DMann]

So......lets speculate about the 526 S Church building that Duke will be leaving.  Certainly is ugly and brutalistic, but it takes a whole block.  It has a dedicated parking lot across the street, so any building or buildings replacing it would not necessarily have to build parking.  The location and proximity to Romare Bearden Park as well as all the major downtown employers could seem like a good spot for residential, and if the Silver Line ever did go down under NSRR tracks and out to the airport what a great location.  I think the 401 College location is a no brainer for an eventual 1000 room hotel, but this 526 spot is very interesting!!!

[KJHburg]

Imagine a 39 story tower towering over the Harvey B Gantt and filling in the last surface parking lot on South Tryon inside the loop.  Just as recently as 3 years ago there were 3 surface parking lots on South Tryon:  1 where the 300 South Tryon Barings tower is now  2. the huge one at the Ally Tryon Place tower  3 and now this one will be gone.  

And of course there was one building on an entire block where Legacy is rising.  Truly amazing now lets get up to North Tryon and starting filling them in up there.