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

[kermit]

1 hour ago, CarolinaDaydreamin said:

Australia's theory was the opposite. It was very vanilla and stable financing rules. There was no sub prime mortgages for example. Much more accepting of immigrants and increased trade with Asian growth countries like Vietnam and Thailand.

 

Totally off topic I know, but a cool article.

https://www.theatlantic.com/ideas/archive/2018/12/what-australia-knows-about-recessions/578482/

So @Dandy Chiggenshelp me understand why this post merits a downvote from your point of view.

[UrbanCharlotte]

3 minutes ago, kermit said:

So @Dandy Chiggenshelp me understand why this post merits a downvote from your point of view.

 

[JHart]

32 minutes ago, kermit said:

So @Dandy Chiggenshelp me understand why this post merits a downvote from your point of view.

Responsible fiscal policies and acceptance of immigrants is viewed negatively by roughly 1 in 4 Americans

[rockhilljames]

Getting back to the subject at hand, I'm skeptical of this not due to any recession, but because of how long such private/public projects take. Gateway, Brooklyn, Hal Marshal, Spirit Square-Library no shovels in the ground or indications that anything is imminent.

[Dale]

On 8/20/2019 at 11:20 PM, norm21499 said:

People were saying this before the Great Recession hit. Nothing lasts forever, and this current cycle of development will end. After a few years the next cycle will begin. It's just the circle of life.....or the economy lol

On Yahoo yesterday: 34% of economists believe we may have a recession by 2021. Presumably that means the majority see clear sailing for another two years or more. So, this feeling of impending doom has more to do, I suspect, from the American apocalyptic bent than any measured analysis of the fundamentals.

[CarolinaDaydreamin]

10 hours ago, kermit said:

So @Dandy Chiggenshelp me understand why this post merits a downvote from your point of view.

That guy downvotes everything I post. .. @Spartan @Neo He has a history of starting up sh*t for no reason and only is critical of other posters has YET to post anything relevant himself. 

Edited August 23, 2019 by CarolinaDaydreamin

[kermit]

10 hours ago, CarolinaDaydreamin said:

That guy downvotes everything I post. .. 

Everyone is welcome to an opinion, I was just wondering about the logic behind it.  The  basic facts of the post appeared (to me) to be beyond dispute and they are easily verifiable so I wanted to learn about his point of disagreement.  @Dandy Chiggens are you able to provide any context for us?   

EDIT: It would be flattering if UP was big enough to warrant our own Russian bot.

 

Edited August 23, 2019 by kermit

[A2.]

On 8/21/2019 at 7:43 AM, ricky_davis_fan_21 said:

Yea but in his defense we predicted this a few times since. The difference is this time,@A2. Has come out of the woodwork to warn us, just like he did last time. He’s a guru about the bond market and the economy. I trust him more than any newspaper


Sent from my iPhone using Tapatalk

Your too kind RDF! While I’m definitely no fortune teller, I look at the reality of the landscape in the markets. So like it, or lump it, the markets across the world are flashing warning signals. One of the most concerning items is the trillions in sovereign debt with negative yields. Never in my wildest dreams did I think that I would see the day where an investor actually pays to own a bond. This isn’t healthy and the global economy isn’t well as we would be led to believe. Right now the United States is the best looking house in a bad neighborhood. However, even stateside there are real concerns of a slow down. One thing that was quite amazing is that the BLS came out yesterday to state they actually over estimated job growth earlier this year by over a half a million jobs. That is not a small miss. Plus we are seeing a ton of divergences in PMI data. For the first time in more than a decade the manufacturing sector is actually contracting. 

All that said, Charlotte has so much going for it these days. So even with a looming recession, regional and local development could still continue, albeit at a slower pace. One thing that is markedly different from the last recession is that Charlotte has diversified its economic base. That is a really BIG deal. The other thing is the swell in population from outside the Tar Heel State. This bodes well as acting as kind of a buffer or insulator from external market shocks.  But even so, any downturn will have some material impact.

 I will close my reply by saying one thing,  and take it with a grain of salt. I personally believe the next recession will be a bad one.  A really bad one. One that will impact us all. We have record levels of debt, The government is spending like drunken sailors and we have amassed deficits that would make your eyes pop out of your head. Not to mention personal indebtedness is running at levels higher than the last downturn with student loans, auto loans, credit cards, and outstanding mortgage balances all running at all time highs. Markets will respond and all dislocations will be resolved. The only question is timing. Not to be a conspiracy theorist, but I could see many things happen before the election. First off there are many who would welcome a massive recession to unseat Trump, and then you have Trump pulling out all the stops to keep the markets propped up until the elections are over. He KNOWS, he’s out if the markets swoon before Election Day. It’s the only thing that he can hang his hat on. So we have a tug of war in the markets and policy, solely for the purposes of power. The next eighteen months will be quite interesting to watch, so stay tuned!

In the meantime, raise cash and pay down debt. Also consider de-risking some of your longer term investments that have done well over the last decade, and use some basic common sense. Bull markets don’t last forever and the day of reckoning will happen. It’s the wise ones who can prosper and prevail if taken the appropriate actions ahead of time.  Principal preservation will be the name of the game for the intermediate term.  

A2

Edited August 23, 2019 by A2.

[CarolinaDaydreamin]

2 hours ago, kermit said:

Everyone is welcome to an opinion, I was just wondering about the logic behind it.  The  basic facts of the post appeared (to me) to be beyond dispute and they are easily verifiable so I wanted to learn about his point of disagreement.  @Dandy Chiggens are you able to provide any context for us?   

 

Look at his history. Its all downvotes. 

I spoke to a buddy at Crescent and he thinks they have another big project in the works that they are focusing on instead, hence why they dropped out. He seemed to imply First Ward. 

[A2.]

1 minute ago, CarolinaDaydreamin said:

Look at his history. Its all downvotes. 

I spoke to a buddy at Crescent and he thinks they have another big project in the works that they are focusing on instead, hence why they dropped out. He seemed to imply First Ward. 

That would be truly awesome. First ward is the one that needs the most attention, so any development news there is welcoming news. Thanks for sharing. 

 

A2

[Missmylab4]

I kind of like Dandy Chiggens and his downvotes. It is great trolling.

[Jasons0013]

23 minutes ago, Missmylab4 said:

I kind of like Dandy Chiggens and his downvotes. It is great trolling.

I like the name.  I use Dandy Chiggens as my alias if we have to wait at a restaurant. Love that show!

[Third Strike]

1 hour ago, CarolinaDaydreamin said:

Look at his history. Its all downvotes. 

I spoke to a buddy at Crescent and he thinks they have another big project in the works that they are focusing on instead, hence why they dropped out. He seemed to imply First Ward. 

I hope it’s a purchase of one of Levine’s parcels. So much potential on that side of Uptown. 

[Guest]

9 minutes ago, Third Strike said:

I hope it’s a purchase of one of Levine’s parcels. So much potential on that side of Uptown. 

I think that's a real possibility. Perhaps for a Truist Technology HQ

[A2.]

^^^Giddy up! 

Edited August 23, 2019 by A2.

[CarolinaDaydreamin]

17 minutes ago, ricky_davis_fan_21 said:

I think that's a real possibility. Perhaps for a Truist Technology HQ

I would think they either thier line of thinking on the CTC project is:

a)isn't happening

b)is too far out

c) they found something more appealing.

 

Here's to hoping its C.

Edited August 23, 2019 by CarolinaDaydreamin

[Dandy Chiggens]

21 hours ago, kermit said:

So @Dandy Chiggenshelp me understand why this post merits a downvote from your point of view.

Because its wrong?  CD seems to have skin that is too thin to post on the internet so I spare correcting him and leave a down vote and he still has a meltdown.  He must live in a padded room.  

First his statement that Australia "has never had a major recession" is just flat out wrong.  Many of their banks and financial institutions collapsed in the recession they had in the early 90's and unemployment was at 11%.  Not to mention just last year they fell into a per capita recession.  Some people even say that there is a major housing bubble and they may experience a collapse that resembles the US in 2008.

That article he then posted is junk and written from a establishment point of view that foolishly thinks our economies are similar in any way.  Pretty much advocating open borders and entering into the TPP like they so hoped we would.  As if not a single lesson was learned from NAFTA.  

Also what exactly does "much more accepting of immigrants" mean?

In 2016 Australia accepted 223,500 permanent immigrants.  An actual decrease from the previous year. 

Meanwhile, the US accepted 1,183,500 permanent migrants.  This does not include the thousands of refugees, H1-B visas, green cards, illegal immigrants etc etc.  

This place is just so misguided and calling for a recession year after year.  Growth may slow but we wont be in a recession anytime soon.  It reminds me of novice real estate investors saying they are "waiting for the next crash" to happen so they can scoop up properties for 50% below their peak price.  They will be waiting on the sidelines for a very long time.  

4 hours ago, kermit said:

Everyone is welcome to an opinion, I was just wondering about the logic behind it.  The  basic facts of the post appeared (to me) to be beyond dispute and they are easily verifiable so I wanted to learn about his point of disagreement.  @Dandy Chiggens are you able to provide any context for us?   

EDIT: It would be flattering if UP was big enough to warrant our own Russian bot.

 

This place should be more welcoming to view points that are outside the echo chamber.  When that recession (that everyone here is praying for) hits, this place will become a ghost town until the "next cycle" without enough diverse viewpoints to create dialogue.  But, not my problem.  I come here for the pictures. 

[kickazzz2000]

17 minutes ago, Dandy Chiggens said:

Because its wrong?  CD seems to have skin that is too thin to post on the internet so I spare correcting him and leave a down vote and he still has a meltdown.  He must live in a padded room.  

First his statement that Australia "has never had a major recession" is just flat out wrong.  Many of their banks and financial institutions collapsed in the recession they had in the early 90's and unemployment was at 11%.  Not to mention just last year they fell into a per capita recession.  Some people even say that there is a major housing bubble and they may experience a collapse that resembles the US in 2008.

That article he then posted is junk and written from a establishment point of view that foolishly thinks our economies are similar in any way.  Pretty much advocating open borders and entering into the TPP like they so hoped we would.  As if not a single lesson was learned from NAFTA.  

Also what exactly does "much more accepting of immigrants" mean?

In 2016 Australia accepted 223,500 permanent immigrants.  An actual decrease from the previous year. 

Meanwhile, the US accepted 1,183,500 permanent migrants.  This does not include the thousands of refugees, H1-B visas, green cards, illegal immigrants etc etc.  

This place is just so misguided and calling for a recession year after year.  Growth may slow but we wont be in a recession anytime soon.  It reminds me of novice real estate investors saying they are "waiting for the next crash" to happen so they can scoop up properties for 50% below their peak price.  They will be waiting on the sidelines for a very long time.  

Educate me, professor, what are the relative populations of the two countries?

[Dandy Chiggens]

Just now, kickazzz2000 said:

Educate me, professor, what are the relative populations of the two countries?

I simply asked what "much more accepting" means and provided data to make things easier to visualize.  The economy is a vast topic and I believe immigration has a big effect on wage growth (which is at a 10 year high in this country).  So high that establishment hacks are saying we have a "wage bubble".  Meanwhile,  Australia's wage growth has been stagnant.  Must be a coincidence huh?  Do you have anything else to add besides a triggered comment?

[lancer22]

No mas politics por favor

 

[Nick2]

Ugh so this topic was "hot" because of arguing. I thought there was new info on the project. We have a coffee house for these kind of discussions, y'all.

[Norm2]

This place was not a ghost town during the last Recession surprisingly enough

[UrbanCharlotte]

https://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article234479997.html?

 

The city said Wednesday that it had selected White Point and its partner, Dart Interests, to begin discussions over the redevelopment of the Charlotte Transportation Center, potentially a nearly $400 million project.

[QCxpat]

26 minutes ago, UrbanCharlotte said:

https://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article234479997.html?

 

The city said Wednesday that it had selected White Point and its partner, Dart Interests, to begin discussions over the redevelopment of the Charlotte Transportation Center, potentially a nearly $400 million project.

 CBJ's story:  "CATS selects joint venture for negotiations on redeveloping uptown bus terminal into major mixed-use center," by Ashley Fahey, 08/28/19.

Excerpts from CJB's story;

"The joint venture partnership of Charlotte-based White Point Partners and Dart Interests, a Dallas real estate investment firm, was selected out of three groups that made proposals to redevelop the site into a mixed-use project."  "White Point and Dart have proposed a project that could, potentially, redevelop three blocks in uptown, sites that today contain mostly surface parking lots." ...  "White Point and Dart, under an LLC, purchased a 1.2-acre surface parking lot on Brevard Street, across Fourth Street from the CTC, and said in its proposal they have had "multiple conversations" with N.C. Railroad Co., which owns the balance of that block — 1.3 acres at Brevard and Third streets, which is leased by Norfolk Southern.  If acquired from N.C. Railroad, that land would create a contiguous two-block holding for the group, which also has 1.7 acres at Fourth and Brevard streets under contract.  The joint venture proposed two plans, with up to 691,199 square feet of office space, up to 60,000 square feet of retail and amenities and hotel rooms. One plan called for a complete redevelopment, with a temporary bus location adjacent to the current site while a new one is being built at the current location.  A second plan would shift the CTC one block southwest."  ...  "The project still has a long way to go before any deal is inked. Selecting the partnership for further discussions is the first step for a multi-department city team and the joint venture to determine if there is a feasible project. Should it be determined that there is, the city would enter into a development agreement with White Point and Dart after receiving authorization from Charlotte City Council."

Link to CBJ's story:  https://www.bizjournals.com/charlotte/news/2019/08/28/cats-selects-jv-for-negotiations-on-redeveloping.html?

White Point and Dart Interests say in their proposal that their plan would have the potential for three blocks of "full-scale placemaking in addition to a "world-class" CTC.

Edited August 28, 2019 by QCxpat

[Crucial_Infra]

^Sorry guys, I’m not gonna believe this news until I get confirmation from Charlotte Stories.