Brookhill

[CLTNative]

I had a feeling the shift to Griffin Brothers would be positive. They have played a big role in West End/5-Points and JCSU. For JCSU, there’s the Art Factory (reuse), Mosaic Village, and A&P Farmers Market site. I just found a listing on Loopnet for M2 at 1555 West Trade, new office space beside Mosaic.

Photos (pasted from Google search, various sources)

Art Factory; https://www.jcsu.edu/about/northwest-corridor-revitalization/arts-factory-in-the-news

Mosaic Village: https://www.jcsu.edu/about/northwest-corridor-revitalization/mosaic-village2

1555 West Trade: https://www.loopnet.com/Listing/1555-W-Trade-St-Charlotte-NC/16621027/

 

Edit: 5-Points Plaza is now open: https://www.instagram.com/tv/CbNMBKYOgHm/?utm_medium=copy_link

Edited March 17, 2022 by CLTNative
More info.

[KJHburg]

WSOCTV is reporting this today.

UPDATE:
Griffin Brothers will soon demolish 20 vacated buildings as part of redevelopment efforts at Brookhill  Village.
Previous coverage:  ‘Complicated’: Development for affordable housing near South End runs into setback 
@wsoctv

[carolinaboy]

4 minutes ago, KJHburg said:

WSOCTV is reporting this today.

UPDATE:
Griffin Brothers will soon demolish 20 vacated buildings as part of redevelopment efforts at Brookhill  Village.
Previous coverage:  ‘Complicated’: Development for affordable housing near South End runs into setback 
@wsoctv

Awesome.

[KJHburg]

here is the story 

https://www.wsoctv.com/news/local/griffin-brothers-takes-over-development-affordable-housing-near-south-end-charlotte/5RUUUF4E4BDB7GTEH5QBPHDTJE/

[Blue_Devil]

I am a little unsure here. On one hand, the place needs to be torn down. On the other hand, from what I can tell, Griffin Brothers has never developed anything.

 

edit: I am wrong, they do have a development portfolio 

http://griffinbros.com/property/

Edited June 2, 2022 by Blue_Devil

[DMann]

Fencing is going up at Brookhill.

[KJHburg]

saw this in the Biz Journal today about Brookhill:

""The city of Charlotte and Mecklenburg County are working on a collaborative investment that will move development forward at Brookhill Village.

Prior to last night's regular meeting, during action review, council heard an update from Shawn Heath, city director of housing and neighborhood services. Heath said city and county staff are proposing a $7 million investment to protect the 78 units currently occupied at Brookhill, plus 22 more that are uninhabited.

The proposal includes $3.5 million each from the city and the county that will be used for interior and exterior renovations on 100 remaining units, as well as acquisition of the land lease. The Harvest Center, a local nonprofit focused on housing and jobs, would manage the units and maintain an on-site presence. Some of the currently vacant units will be used by The Harvest Center as transitional housing for families and individuals experiencing risk of homelessness.   The development, off Remount Road near Interstate 77, is one of the city's few remaining housing communities with rent under $1,000 per month. Heath said the average rent is about $466, making it crucial that those remaining 100 units be saved. Over the last several years, more than 300 units have been demolished on the site.""

https://www.bizjournals.com/charlotte/news/2023/06/13/city-county-partnership-funding-brookhill-village.html

[Take2]

2 hours ago, KJHburg said:

saw this in the Biz Journal today about Brookhill:

""The city of Charlotte and Mecklenburg County are working on a collaborative investment that will move development forward at Brookhill Village.

Prior to last night's regular meeting, during action review, council heard an update from Shawn Heath, city director of housing and neighborhood services. Heath said city and county staff are proposing a $7 million investment to protect the 78 units currently occupied at Brookhill, plus 22 more that are uninhabited.

The proposal includes $3.5 million each from the city and the county that will be used for interior and exterior renovations on 100 remaining units, as well as acquisition of the land lease. The Harvest Center, a local nonprofit focused on housing and jobs, would manage the units and maintain an on-site presence. Some of the currently vacant units will be used by The Harvest Center as transitional housing for families and individuals experiencing risk of homelessness.   The development, off Remount Road near Interstate 77, is one of the city's few remaining housing communities with rent under $1,000 per month. Heath said the average rent is about $466, making it crucial that those remaining 100 units be saved. Over the last several years, more than 300 units have been demolished on the site.""

https://www.bizjournals.com/charlotte/news/2023/06/13/city-county-partnership-funding-brookhill-village.html

Thank you for posting the meat and potatoes of the article as some of us poor folks can't pay for the CBJ... 

[CTiger]

Brookhill is about the same size as the ENTIRE Gold District.  I'm okay with maintaining an affordable area in Southend but are there development plans here that will bring some density to the area?  With sensitivity towards lower-income residents, it is hard not to look at Brookhill and Southside as insanely inefficient uses of  very valuable real estate.

[JHart]

16 hours ago, Take2 said:

Thank you for posting the meat and potatoes of the article as some of us poor folks can't pay for the CBJ... 

If you want to read anything from CBJ just load the page with Javascript turned off.

[Nathan2]

20 hours ago, KJHburg said:

saw this in the Biz Journal today about Brookhill:

""The city of Charlotte and Mecklenburg County are working on a collaborative investment that will move development forward at Brookhill Village.

Prior to last night's regular meeting, during action review, council heard an update from Shawn Heath, city director of housing and neighborhood services. Heath said city and county staff are proposing a $7 million investment to protect the 78 units currently occupied at Brookhill, plus 22 more that are uninhabited.

The proposal includes $3.5 million each from the city and the county that will be used for interior and exterior renovations on 100 remaining units, as well as acquisition of the land lease. The Harvest Center, a local nonprofit focused on housing and jobs, would manage the units and maintain an on-site presence. Some of the currently vacant units will be used by The Harvest Center as transitional housing for families and individuals experiencing risk of homelessness.   The development, off Remount Road near Interstate 77, is one of the city's few remaining housing communities with rent under $1,000 per month. Heath said the average rent is about $466, making it crucial that those remaining 100 units be saved. Over the last several years, more than 300 units have been demolished on the site.""

https://www.bizjournals.com/charlotte/news/2023/06/13/city-county-partnership-funding-brookhill-village.html

Maybe I am not understanding or know all the background information but why is saving the current structures a good thing? The current layout is extremely low density.  I would imagine that money could be better spent by vastly increasing density and giving more people the opportunity to find affordable housing? Seems like the land is being considerably underutilized.

[RANYC]

8 hours ago, CTiger said:

Brookhill is about the same size as the ENTIRE Gold District.  I'm okay with maintaining an affordable area in Southend but are there development plans here that will bring some density to the area?  With sensitivity towards lower-income residents, it is hard not to look at Brookhill and Southside as insanely inefficient uses of  very valuable real estate.

Griffin plans to build market-rate multi-family on much of the property, while using the city's contribution to rehab remaining structures plus a couple dozen others and keep them at the crazy low rent they're at now which is like $466/month or something like that.  Details on the market-rate multi-family housing hasn't been disclosed yet.  Underpinning Griffin's plans are a land-lease that doesn't terminate until 2049.  Once it terminates, the land will revert to the Spangler family who will have the option to do whatever.  Not sure how Griffin is modeling this out, but any improvements may have a fairly limited shelf life.

[Take2]

On 6/14/2023 at 12:29 PM, JHart said:

If you want to read anything from CBJ just load the page with Javascript turned off.

Wth! I'm so freakin happy! Tysm for this info..

[videtur quam contuor]

I click the link for CBJ article and as soon as it begins to load I click escape key and the text appears though not photos/slides as they are what follows the text.

[KJHburg]

news from Brookhill and this deal is so complicated because of the land lease under the apartments.  

""The latest plan to save one of the last affordable housing options in the South End area took a step closer to reality last night as Charlotte City Council voted to put $3.5 million behind the effort.

As CBJ has previously reported, Cornelius developer Griffin Brothers Property Services is working with Quore Real Estate Advisors to renovate and repair the dilapidated buildings that remain at Brookhill Village. The community, located off South Tryon Street at Remount Road, is just steps from bustling blocks in South End that have seen waves of investment and development in recent years. But the site's complicated ownership structure, involving a land lease that expires in 2049, has stymied previous redevelopment efforts.  Following the demolition of most buildings at the 35-acre site, Griffin Brothers and Quore are now working to preserve the 100 units remaining there — and protect current residents from displacement. For the 78 units that are occupied, rents average less than $500 monthly — unheard of in increasingly expensive Charlotte, much less in South End. The companies had asked for a $7 million subsidy, with half coming from the city and the rest from Mecklenburg County, to offset the cost of keeping the units affordable.""

https://www.bizjournals.com/charlotte/news/2023/07/11/cbj-buzz-brookhill-village-griffin-brothers-quore.html

 

[KJHburg]

we talk a lot about this redevelopment but never any photos.   I found myself with a perch today with a great view of the Brookhill site and some of the existing units to be rehabilitated 

Today Brookhill from West Tremont area.   The possibilities are endless on the rest of this land.  

[dylansukkert]

5 hours ago, KJHburg said:

we talk a lot about this redevelopment but never any photos.   I found myself with a perch today with a great view of the Brookhill site and some of the existing units to be rehabilitated 

Today Brookhill from West Tremont area.   The possibilities are endless on the rest of this land.  

The amount of prime land there is unbelievable. 

[CLT Development]

I don't have much details to share but a midrise apartment building has been submitted at Brookhill along West Tremont at Village Ct. 

[RANYC]

23 minutes ago, CLT Development said:

I don't have much details to share but a midrise apartment building has been submitted at Brookhill along West Tremont at Village Ct. 

Thanks for sharing.  I'm so cofused by this property.  Isn't the Spangler family estate the lessor to this land until 2049, so what's the incentive to build major "leasehold improvements" like a mid-rise apartment building or anything else?  Was something worked out with the estate?  Lease extension, perhaps?

Edited December 22, 2023 by RANYC

[CLT Development]

3 minutes ago, RANYC said:

Thanks for sharing.  I'm so cofused by this property.  Isn't the Spangler family estate the lessor to this land until 2049, so what's the incentive to build major "leasehold improvements" like a mid-rise apartment building or anything else?  Was something worked out with the estate?  Lease extension, perhaps?

Spangler still has another 72 years on that land lease, Core Real Estate Advisors and Griffin Brothers have come in and will be renovating 100 of the older units (1/4 of the site) and redeveloping the rest.

[RANYC]

 

23 hours ago, CLT Development said:

Spangler still has another 72 years on that land lease, Core Real Estate Advisors and Griffin Brothers have come in and will be renovating 100 of the older units (1/4 of the site) and redeveloping the rest.

Wait, I just want to be clear:

• According to a 2017 Observer article, Brookhill Land was a Spangler-affiliated entity that owns the land.
• At the time of the article, Brookhill Land (owner) was in a ground lease with Brookhill Village Two LLC (bldg developer), affiliated with Greg Pappanastos, until 2049.
• Brookhill Land was in litigation to take control of the entirety of the property (including the structures under the control of Greg's Entity) because of how badly the buildings had fallen into disrepair
• Unclear how things got resolved between Brookhill Land & Brookhill Village Two, but at some point, Lookout Housing Ventures came along & attempted to negotiate a deal with the city to redevelop the property and to include affordable housing.  The city balked at terms, and the issue of separate land ownership & structure ownership was cited
• Lookout Housing Ventures is out of the picture now
• I'm assuming Spangler entities (the Land Owner) have entered into a new ground lease with the latest developer giving that developer some stability for 72 more years? 

Edited December 23, 2023 by RANYC

[CLT Development]

19 minutes ago, RANYC said:

 

Wait, I just want to be clear:

• According to a 2017 Observer article, Brookhill Land was a Spangler-affiliated entity that owns the land.
• At the time of the article, Brookhill Land (owner) was in a ground lease with Brookhill Village Two LLC (bldg developer), affiliated with Greg Pappanastos, until 2049.
• Brookhill Land but was in litigation to take control of the entirety of the property (including the structures under the control of Greg's Entity) because of how badly the buildings had fallen into disrepair
• Unclear how things got resolved between Brookhill Land & Brookhill Village Two, but at some point, Lookout Housing Ventures came along & attempted to negotiate a deal with the city to redevelop the property and to include affordable housing.  The city balked at terms, and the issue of separate land ownership & structure ownership was cited
• Lookout Housing Ventures is out of the picture now
• I'm assuming Spangler entities (the Land Owner) have entered into a new ground lease with the latest developer giving that developer some stability for 72 more years? 

The 100 units seem to still be on the land lease until 2049. The 72 number came from this story. https://www.youtube.com/watch?app=desktop&v=7meJkfkpDYc After relistening to it for the first time since earlier this year I am now questioning how the statement was posted "The latest developer involved with the last 72 years of this land lease"

Edited December 22, 2023 by CLT Development

[Guest]

Lease ends in 2049 and land goes back to Spangler. Spangler and Griffin Brothers have a handshake deal that apparently has given Griffin confidence to buy the remaining 27 years on the lease from its previous owner. Details are under wraps but my bet is they agreed to renew the lease  in 2049 with the duration/value of the lease being caveated in some way