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ricky_davis_fan_21

CTC Redevelopment - Crescent, BPR & Whitepoint Proposals for Transit Center Redo + More

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8 hours ago, ricky_davis_fan_21 said:

 

https://www.bizjournals.com/charlotte/news/2019/06/06/mixed-use-development-proposal-submitted-for.html

 

I think this will end up deserving a new topic.

 

Three Teams are vying for the right to redevelop CTC

 

BPR - local hotel developer, developing adjacent Moxy Hotel. Initiated process.

 

Crescent - bidding because they’d get too much FOMO if they don’t

 

Whitepoint, own adjacent land, looking to make a big redevelopment. Probably the best positioned of the group.

 

Here we share what we’d like to see here, and when the information is available we share here.

 

 

Sent from my iPhone using Tapatalk

 

What is FOMO? Asking for a friend.................

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@ricky_davis_fan_21 Since the BJ article didn't mention any developers by name, are you assuming those three are the ones vying for it or is that coming from your sources? Sounds like you might know more or the process might be further along than what the BJ article said...

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1 minute ago, ricky_davis_fan_21 said:

In an interesting turn of events. Crescent has rescinded their proposal. 

That's really surprising, if only because they're such a major player here you'd expect them to at least try to be involved.

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I say this is the perfect opportunity to run a quick sales job on Truist execs! Think about having a branded signature tower near the center of the city. I’m digging Hearst, but they will need more office space over time and this gives them the ability to work with the developers to create their own signature tower. 

I would think that would DOUBLE the height, with a committed anchor. Just my $.02

ps—-I would gladly say nix the above idea , if somehow Truist could create a corporate campus on Levine’s land. That would be my Developmental wet dream. But then I would wake up. :tw_dissapointed:

 

A2

Edited by A2.

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7 minutes ago, A2. said:

I say this is the perfect opportunity to run a quick sales job on Truist execs! Think about having a branded signature tower near the center of the city. I’m digging Hearst, but they will need more office space over time and this gives them the ability to work with the developers to create their own signature tower. 

I would think that would DOUBLE the height, with a committed anchor. Just my $.02

ps—-I would gladly say nix the above idea , if somehow Truist could create a corporate campus on Levine’s land. That would be my Developmental wet dream. But then I would wake up. :tw_dissapointed:

 

A2

You might get something more akin to a tease

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Just now, lancer22 said:

You might get something more akin to a tease

Ha! :tw_wink:

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32 minutes ago, A2. said:

I’m pulling for White Point! The other proposal wouldn’t even be completely done until 2030! Wowza! I will need adult diapers by the time the project comes to fruition. Lastly, I know the city NEEDS affordable housing, but sadly the immediate core of the city would Never justify it from a purely economic standpoint. Unless, they had some tax payer subsidies, which I doubt would happen. Not impossible, but I don’t think happens. 

"The firms are asking CATS to donate the transit center property to an entity that would be controlled by the partnership. In return, CATS would license or lease the new transit facility at no cost."

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9 minutes ago, RaleighHeelsfan said:

Is this gateway station or something different? I was hoping for a lot more if it's gateway...

Different. Gateway is down at Trade St & NCRR, where the Greyhound station is currently located. This proposal is where the Charlotte Transit Center currently sits at Trade & Brevard next to Spectrum Center.

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Seems like the bus facility could be integrated into a multimodal station at the confluence of the Silver & Blue lines around Tryon and 10th. 

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I know that wishing for a "new tallest" is a long shot right now, but there are few plots of land where I could imagine a new flagship tower in Uptown, the CTC, the NCRR site, and the parking lot adjacent to Fahrenheit are three of them. I'd be willing to settle for a 30-40 story tower to at least add some depth, selfishly, to my skyline view from Plaza, however, this is about as central as you can get without building on the square itself. In terms of the affordable housing, it sounds appealing, but sadly I am pessimistic about it, the people who can afford what will be the most centrally located apartments/condos in the city will not want "workforce housing" in their building, though a $500 a month studio would be something I'd kill for, as single guy I don't think I'll qualify though!

Speaking of "nimby-ism" while were on the topic though, how do you guys think having a bus station either under or across from the site will affect it's marketability? Or will it perhaps have an opposite effect, and spark a more friendly view to bus transit in Charlotte, thus decreasing incidents of crime and unruly behavior by more or less "watering down" the perceived (and not entirely unjustified) gritty image of the current facility?

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Business Journal has an updated story about one of the proposals today.  Subscriber but here are some highlights

https://www.bizjournals.com/charlotte/news/2019/08/20/developeraffordable-housing-shopping-center-part.html

"" Patel said BPR is in talks with potential partners like Westfield, which owns and manages shopping centers around the world, including Westfield World Trade Center in New York, as well as local groups like Laurel Street, Ascent Real Estate Partners and Centro Cityworks, the latter of which is owned by architect and developer David Furman. Furman and Ascent, led by Aaron Ligon, worked with BPR on its Northside Station adaptive-reuse project in uptown.    High Point-based BPR Properties submitted a roughly $300 million plan that includes high-rise buildings with offices, apartments, affordable housing, condos and hotel rooms in addition to a retail and plaza development with a "sustainable shopping" focus, said Birju Patel, president of the firm.""

other bidders have not revealed their proposals and CATS is not obligated to take any of them either according to the article.  

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