Brookhill

[SydneyCarton]

This huge site, like The Colony, will be transformed from terrible to terrific.  I’m elated to see it be redeveloped.

P.S.: I couldn’t find an existing thread, so I made this.  If those with greater insight don’t think a thread is warranted yet, then , hopefully, the moderators can delete it.  
 

From the January 10, 2020 Observer:

Edited January 10, 2020 by SydneyCarton

[SydneyCarton]

https://www.google.com/amp/s/www.bizjournals.com/charlotte/news/2020/01/08/brookhill-village-land-lease-sells-to-local.amp.html

Edited January 10, 2020 by SydneyCarton

[dxartist]

Having lived in South End for a few years now, this does not surprise me after seeing what's now being built on the opposite side of Tryon Street. 

[KJHburg]

Financing might be tough to get according to this article.  with only 29 years left on the land lease that is not long.  Most buildings on land leases it is 50-99 years.

https://businessnc.com/tom-hendrickson-leading-brookhill-village-redevelopment-in-charlotte/

here is the article this morning Biz Journal talking about the financing

""His company, Lookout Ventures, in partnership with a local nonprofit, the South Tryon Community Development Corp., are undertaking a project that many over the years have been unable — or unwilling — to touch. It involves a complicated ownership structure that includes a 99-year ground lease that expires in 2049 and decrepit buildings renting far below the city's soaring averages in one of its fastest-growing neighborhoods.  "(The ground lease) is a challenge, but it offered an opportunity," Hendrickson said. "If the property was available for sale fee simple, it’s a lot easier to throw a bunch of money at it and do a market-rate deal."Because of the way the ground lease is structured, traditional low-income housing tax credits can't be used to finance construction of affordable housing on the Brookhill site. Instead, the relatively new Freddie Mac non-LIHTC forward financing, which provides flexible terms for workforce- and affordable-housing projects, will be pursued to underwrite a significant chunk of the new development. It is expected to be a $60 million project.""

https://www.bizjournals.com/charlotte/news/2020/01/10/whats-at-thetop-of-brookhill-village-developers-to.html?iana=hpmvp_clt_news_headline

Edited January 10, 2020 by KJHburg

[Blue_Devil]

Just now, KJHburg said:

Financing might be tough to get according to this article.  with only 29 years left on the land lease that is not long.  Most buildings on land leases it is 50-99 years.

https://businessnc.com/tom-hendrickson-leading-brookhill-village-redevelopment-in-charlotte/

Also the density that is being proposed down not seem correct for the size of the plot. 3 story flats and Townhomes? 360 units? On 16 acres.... That feels sparse. Unless they think that will be easier to tear down in 30 years. 

[SouthEndCLT811]

I was trying to imagine the density and for those who were as well I used Junction 1504 as a reference.  That development is 280 units on 10 acres.  So this is even slightly less dense than that..

[SydneyCarton]

I wonder if this is, in fact, under consideration for a new Panthers Stadium.

[KJHburg]

I don't think this site will be considered for a stadium.  Imagine asking the state and city to pump hundreds of millions of dollars for a new stadium while kicking people out of lower cost housing.  It is not going to happen I can assure you.   No transit, no good highway connectivity.   Either uptown on Charlotte Pipe and Foundry or what about the acres and acres Levine owns?  But here on the site of Brookhill no way. 

[Matthew.Brendan]

16 acres is plenty of space to make a complete node with retail and office and housing. Instead we're gonna end up with some townhouses?

[SydneyCarton]

1 hour ago, KJHburg said:

I don't think this site will be considered for a stadium.  Imagine asking the state and city to pump hundreds of millions of dollars for a new stadium while kicking people out of lower cost housing.  It is not going to happen I can assure you.   No transit, no good highway connectivity.   Either uptown on Charlotte Pipe and Foundry or what about the acres and acres Levine owns?  But here on the site of Brookhill no way. 

It's just a short walk from the Lynx stop.   Anyway, it seems like the Pipe and Foundry is the preferred site.

[Guest]

3 hours ago, KJHburg said:

I don't think this site will be considered for a stadium.  Imagine asking the state and city to pump hundreds of millions of dollars for a new stadium while kicking people out of lower cost housing.  It is not going to happen I can assure you.   No transit, no good highway connectivity.   Either uptown on Charlotte Pipe and Foundry or what about the acres and acres Levine owns?  But here on the site of Brookhill no way. 

You'd have to bury several streets to make a stadium in first ward happen. The City wouldn't even cut out a street through the middle of 1st Ward park, no way do they abandon 4 full blocks of connectivity, that it would take to build a Football stadium in first ward.

[SgtCampsalot]

My mind's eye feels like a stadium would need to utilize every empty lot in First Ward Proper, including the train stations, in order to fit just barely.

[Guest]

8 minutes ago, SgtCampsalot said:

My mind's eye feels like a stadium would need to utilize every empty lot in First Ward Proper, including the train stations, in order to fit just barely.

It would take minimum 6 contiguous blocks 3x2, MINIMUM

Edited January 10, 2020 by Guest

[JorgiPorgi]

48 minutes ago, ricky_davis_fan_21 said:

It would take minimum 6 contiguous blocks 3x2, MINIMUM

I’m still trying to piece together where it would fit at Charlotte Pipe- would they not have to re-route Morehead at least some? 

[RANYC]

"New Brookhill…" renderings of the new development at the website below

https://www.newbrookhill.com/

According to yesterday's Charlotte Business Journal, Lookout Ventures (developer) asking for $19.8 million in city incentives.

$14.5 million in loans from the Housing Trust Fund and Charlotte Housing Opportunity Investment Fund, and a $5.3 million grant for roads.  Another $43m in private financing and $1.9m from the developer.

324 new apartment units.  Council to take up the package late this month.  If approved, new residents could move in during summer 2021.

[tozmervo]

1 hour ago, RANYC said:

"New Brookhill…" renderings of the new development at the website below 

"...Rampart Street LYNX stop..."

[Blue_Devil]

Should be denser, however this plan seems to be pushed back more toward neighborhoods, if the gradually build density toward Tyron, that would be great

[Guest]

26 minutes ago, Blue_Devil said:

Should be denser, however this plan seems to be pushed back more toward neighborhoods, if the gradually build density toward Tyron, that would be great

I would imagine much more dense uses on Tryon.

[Third Strike]

3 hours ago, Tyree Ricardo said:

I would imagine much more dense uses on Tryon.

Yup. Still plenty of potential for denser development facing Tryon and Remount. Hopefully the apartments near Davis Middle School are next. 

[videtur quam contuor]

Southside Homes, the project south of Brookhill, was built in 1951 as housing for "Negroes". So many other public developments have disappeared: Belvedere Homes, Boulevard Homes, Dalton Village, Piedmont Courts, Keyway homes, Earle Village, and others. Yet Southside remains. The Bethlehem Center in the heart of Southside is supported by the Methodist Church and the Methodist Women and started as a mission to women and children in Brooklyn, about which there is much discussion here and information online. When Southside Homes was built the Center moved there and provided social work, the first free kindergarten, after school activities and family enrichment. A settlement house as it may be called in larger cities in the past. History? You want history? There it is

[RANYC]

Didn't see Brookhill come up in a list of 14 affordable housing projects recently approved by Council.

[Blue_Devil]

Anyone hear any chatter here? Such a big piece of property, with some much going up around it. I feel like there should be some news. 

[KJHburg]

Update and it is not so good.

https://charlotte.axios.com/291277/brookhill-developer-sells-interest-in-the-project-after-funding-issues/

[Blue_Devil]

22 minutes ago, KJHburg said:

Update and it is not so good.

https://charlotte.axios.com/291277/brookhill-developer-sells-interest-in-the-project-after-funding-issues/

Someone bought the property, but yah, I doubt the now property owner is going to rehouse all of the people currently living there. 

[SydneyCarton]

A new plan for Brookhill Village in Charlotte — again BY LAUREN LINDSTROM UPDATED MARCH 16, 2022 5:53 PM

After taking over redevelopment of Charlotte’s Brookhill Village, a local businessman says he plans to not only preserve and build affordable housing but also commercial space for businesses facing rising rent prices. Charlotte businessman Mike Griffin has taken control of the land lease for the South End-adjacent community. A Raleigh-area developer, Tom Hendrickson, announced Tuesday he’d transferred the lease after unsuccessful redevelopment attempts, according to a statement sent to the Observer. The community, opened in 1951, is some of the last affordable housing in the area but badly needs upgrades....

Read more at: https://www.charlotteobserver.com/news/business/development/article259433689.html#storylink=cpy

 

Edited March 17, 2022 by SydneyCarton