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Childress Klein/Ram South End Tower - Lowe's anchored (23 floors - 345')

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5 hours ago, Ric0_0 said:

This Lowe's tower actually reminds me very much of a new tower going up in Atlanta right now. 

 

They are definitely cousins. But, I like our building better.

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16 hours ago, Ric0_0 said:

This Lowe's tower actually reminds me very much of a new tower going up in Atlanta right now. 

 

 

"...1105 West Peachtree project, which is scheduled to bring offices, for-sale condos, a hotel, and an elevated green space to a prominent Midtown corner as part of the same multifaceted package."

 

Wow, good job ATL. Charlotte could maybe learn thing or two here.

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20 minutes ago, Matthew.Brendan said:

 

"...1105 West Peachtree project, which is scheduled to bring offices, for-sale condos, a hotel, and an elevated green space to a prominent Midtown corner as part of the same multifaceted package."

 

Wow, good job ATL. Charlotte could maybe learn thing or two here.

what should we learn exactly? just curious. 

 

Edited by ricky_davis_fan_21

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That mixed use buildings are not only viable, but do great things for an area?  Charlotte is severely lacking for-sale condos uptown. Add another 10 floors of condos onto Honeywell, you think those wouldn’t sell? Heck, add them to any part of LU for that matter. Instead we are 3/6 on dedicated office buildings without a whiff of anything different for the remaining lots. 

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28 minutes ago, Matthew.Brendan said:

That mixed use buildings are not only viable, but do great things for an area?  Charlotte is severely lacking for-sale condos uptown. Add another 10 floors of condos onto Honeywell, you think those wouldn’t sell? Heck, add them to any part of LU for that matter. Instead we are 3/6 on dedicated office buildings without a whiff of anything different for the remaining lots. 

You do realize with all the offices coming in- that provides more possibility for condos or condos/mixed use buildings?  We don’t need to learn anything from ATL- but I do like that building.

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32 minutes ago, Matthew.Brendan said:

That mixed use buildings are not only viable, but do great things for an area?  Charlotte is severely lacking for-sale condos uptown. Add another 10 floors of condos onto Honeywell, you think those wouldn’t sell? Heck, add them to any part of LU for that matter. Instead we are 3/6 on dedicated office buildings without a whiff of anything different for the remaining lots. 

Plenty of Mixed Use in Charlotte, you shouldn't be forming your opinions on how Lincoln Harris does business.

As far as condos goes, couple people have tried to bring condos to bear in Charlotte and have been unsuccessful at getting capital partners to make it happen. In other words you have to buy the land, pay the architect, market the condos, pray you get enough sales, and then build the building, all on your own. Its expensive to build in Charlotte, and thus you end up with buildings who's prices just aren't palatable to Charlotte buyer.s Just look at 1Brevard, they priced it in order to actually make a profit on a building, I think they pre-sold 8% before they gave up.

Do I think if you added 10 floors of condos onto Honeywell that it would sell?
No I don't. I don't think they'd have a prayer of a chance, because people spending probably $750 psf aren't going to want to live on top of an office tower. You'd also have to have a separate lobby, a separate entrance and a separate elevator bank, so in other words way more money. 

Edited by ricky_davis_fan_21
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I am not 100% convinced that some sort of housing would not work on a few of these towers, depending on location. From a developers view, you are diversifying the development so that if office goes soft, apartment/Hotel may offset some of the variable costs to operate the building.  

As an example, for condos, Greenville SC is selling condos on top of a short office tower at $571 per foot. While Greenville’s Main st is nice, overall, there isn’t a lot of new companies moving into downtown (tons of office space for lease/ sublease) so, if  they can pull $571 per foot, Charlotte could do more.  But, I can’t imagine condos being built on a large scale of 20 floors on top of 40 office floors.  I could see 10 condo floors on top of a tower.  For hotel, I could see it working much easier.

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7 minutes ago, CLT_sc said:

I am not 100% convinced that some sort of housing would not work on a few of these towers, depending on location. From a developers view, you are diversifying the development so that if office goes soft, apartment/Hotel may offset some of the variable costs to operate the building.  

As an example, for condos, Greenville SC is selling condos on top of a short office tower at $571 per foot. While Greenville’s Main st is nice, overall, there isn’t a lot of new companies moving into downtown (tons of office space for lease/ sublease) so, if  they can pull $571 per foot, Charlotte could do more.  But, I can’t imagine condos being built on a large scale of 20 floors on top of 40 office floors.  I could see 10 condo floors on top of a tower.  For hotel, I could see it working much easier.

I think the sweet spot is finding space for 25-30 units on top of a hotel tower. But I'm telling ya, a 800 sq foot condo is going to run you at least $600,000. I don't know if the market is right for that. 

Edited by ricky_davis_fan_21
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1 minute ago, ricky_davis_fan_21 said:

I think the sweet spot is finding space for 25-30 units on top of a hotel tower. But I'm telling ya, a 800 sq foot condo is going to run you at least $600,000. I don't know if the market is right for that. 

It is definitely a narrow market, I would not expect to see this type of development too much downtown.  I do think condos on a hotel make more sense than on an office tower so that the amenities can be leveraged.  Maybe Harris can do a 35 story Four Seasons with 10 condo floors on top.  

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Take a look at condo prices in the existing highrises Uptown. Prices are fairly flat...

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40 minutes ago, ricky_davis_fan_21 said:

I think the sweet spot is finding space for 25-30 units on top of a hotel tower. But I'm telling ya, a 800 sq foot condo is going to run you at least $600,000. I don't know if the market is right for that. 

I think as more HQs come on line we will have more execs wanting pied-à-terres but I'm not sure we are there yet. Maybe if WF moved here..,

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17 minutes ago, CarolinaDaydreamin said:

I think as more HQs come on line we will have more execs wanting pied-à-terres but I'm not sure we are there yet. Maybe if WF moved here..,

For the odd one here and there that happens to be a bachelor or bachelorette. 

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1 hour ago, ricky_davis_fan_21 said:

For the odd one here and there that happens to be a bachelor or bachelorette. 

How is real estate in Brooklyn?  I have some ambition of staying for a month or two in NYC at some point and was randomly lookin at monthly rental prices on Airbnb in Manhattan and Brooklyn this week...woaw buddy! Hit me right in the feels lol

Edited by NikolaTesla
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36 minutes ago, NikolaTesla said:

How is real estate in Brooklyn?  I have some ambition of staying for a month or two in NYC at some point and was randomly lookin at monthly rental prices on Airbnb in Manhattan and Brooklyn this week...woaw buddy! Hit me right in the feels lol

I'll let ya know. Probably going to put my place on the market in the next few weeks, and start looking for a place to buy in NoDa

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My issue with nearly all of the projects in South End (this one included) as well as Uptown are the structured parking decks adjacent to the building. I understand the economics of it, but it is such an inefficient usage of space and detracts greatly from the overall streetscape. People should pay more attention and offer kudos to the developers who can figure out how to either partially bury their parking or include some sort of podium. Unfortunately, Charlotte office market rents coupled with high construction costs make it incredibly difficult for podium and/or buried parking to pencil for developers.

I agree 100%. Interestingly this building will have retail on every side, and the largest space is facing the worst part of the parking deck, so that’s nice. As far as cost goes, Spectrums massive deck for their two tower project is $50M! so burying it would be around 90+M


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1 minute ago, ChessieCat said:

^Any chance of wrapping microapartments around the parking deck like the RailYard is doing?

none. its a very small parcel. Also the only side that will be an obviously exposed parking deck is facing toward West Blvd, and I know for a fact there will be a hotel built fronting West Blvd in the next few years that will block that view of the parking garage. Hawkins parking deck side will be brick, precast, aluminum panels, glass and mesh artwork. Plus a really handsomely done brick retail storefront wrapping the entire corner.

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does Asana have a plan for where drive up customers Superica/Hawkers/Jennis/ShakeShack  etc are going to park?  It might not be an issue, but dang I'll be super impressed if they can keep that tenant mix with zero parking.

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17 hours ago, ricky_davis_fan_21 said:

I'll let ya know. Probably going to put my place on the market in the next few weeks, and start looking for a place to buy in NoDa

Good luck with the sale and move, hope you do well on the real estate market. :tw_thumbsup:

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1 hour ago, ricky_davis_fan_21 said:

none. its a very small parcel. Also the only side that will be an obviously exposed parking deck is facing toward West Blvd, and I know for a fact there will be a hotel built fronting West Blvd in the next few years that will block that view of the parking garage. Hawkins parking deck side will be brick, precast, aluminum panels, glass and mesh artwork. Plus a really handsomely done brick retail storefront wrapping the entire corner.

I don’t see the two story brick retail on the corner of Camden and West being there long term...unless something odd happens.  Is this where a hotel will go or will it be in the vacant lot fronting West?  

When you look at google maps, the bakery is sitting on a ton of cash.  They have to be thinking about selling that and moving these operations.  

The happiest people right now have to be the group developing the corner of West and S Tryon, the Lowes project makes their job so much easier. 

Edited by CLT_sc

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