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Savona Mill, Lakewood Trolley, Greenway


JacksonH

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14 minutes ago, atlrvr said:

I usually come down squarely on the side of property owners, and at the end of the day I probably do in this case as well, but a couple of thoughts in Blue Blaze defense.

1) they taking that risk to open (with previous owner to Portman) created value there for mill owner

2) the building itself is pretty cheap quality, and maybe not worth full "market" rent for the area

3) I can only assume Blue Blaze spent a fair amount of capital for brewery systems, much of what could be lost, as I assume relocating that equipment is very expensive

All that said, Blue Blaze should have known the risks when signing what I assume was a 5 year lease. 

Lastly, and this is pure speculation, but wouldn't surprise me if Portman would prefer to have no tenant so they can demo/redevelop that part of the site.

 

 

Yes, the opportunity cost of blue blaze there is probably significant to Portman.

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15 hours ago, SouthEndCLT811 said:

Wow, another example of landlords aggressively raising rent 

https://twitter.com/CltLedger/status/1584877821532721154?s=20&t=Y-FbfcZsKQKmv1nZDZOIbw

 

Not being cynical but could they be raising the rent on Blue Blaze to allow Sycamore to come into there as they are a tenant and have a relationship with them from Southend?  I hope Blue Blaze finds another location close by. 

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  • 2 months later...

Since this is right by Savona Mill and near the current site of Blue Blaze I will put this here.

""Texas developer Kairoi Residential is gearing up for its next Charlotte project, a multifamily community on the city's west side.

Kairoi, based in San Antonio, filed a petition with the city of Charlotte on Jan. 2 to rezone 6 acres at 650 State St. from industrial to mixed-use development. Tyler Sibley, Kairoi principal of development, said the project will be about 500,000 square feet with 450 luxury apartments and will include a sky pool and amenity package. No ground-floor retail is planned at this time. Renderings were not yet available.

"We're going to have some unique private open space that kind of backs into everything that's happening at the greenway, and we're really excited about how everything else happening in the neighborhood will mesh together," he said.""

https://www.bizjournals.com/charlotte/news/2023/01/06/kairoi-residential-apartment-community-luxury.html?

this is right across State St from Lower Tuck and that has retail. 

 

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