110 East: 23 story Tower by Stiles/Shorenstein

[Blue_Devil]

13 minutes ago, 49er said:

So they gave up on screening the one corner of the deck facing S. Blvd? I feel like the towers are great but at the same time they will continue to encourage the removal of the smaller scale brick structures that give South End some of its charm. 

So there will eventually be an Apartment tower on the Honey Tulepo site. That will cover the corner from a lot of angles. 

8 minutes ago, JacksonH said:

So the cool building with Tupelo Honey, and the building next to it with the Manchester, remain.  So why did Tupelo Honey move out?

See above. 

[atlrvr]

Phase 2...

But in the near term, the majority of the surface parking is getting removed used by that older building.  All those leases likely had rights to parking, so Tupelo Honey negotiated an exit.

[davidclt]

On 5/19/2021 at 10:16 AM, QCxpat said:

110 East is 308 ft. / 93.8 m. and 23 stories tall.   

The Design Center Tower (Lowe's Tech Hub) is 345 ft. / 105.5 m. and 23 stories tall. 

By comparison, the Arlington (the rose-colored apartment tower in South End) is 310 ft. tall / 94.5 m and 24 stories tall.

Link:   https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Charlotte  (see Tallest Pending Construction section)

I can't believe that the Bank of America tower is 30 years old! I still like it and it has aged gracefully.

[SydneyCarton]

All hail the Queen!

[RANYC]

Has this project lined up financing, along with Centre South and any of the other office announcements we've heard about?

Why am I so convinced that speculative high-rise office construction isn't going to have any lenders any time soon, until it's a bit clearer what companies are going to do post-COVID?

I wouldn't pay much attention to the banks - I'd question whether they're being so vocal about the importance of RTO (return to office) in order to signal to the rest of the economy that "in-office matters."  They don't want to see the CRE loan portfolio go south as lease renewals come up in the next few years.

I'd love to see more mid and high-rise infill density in center city, but can someone give me reason for hope?

[atlrvr]

CBRE has a new report on sublease activity in NYC.  May saw the lowest amount of new sublease space being marketed since last May, but even March-May was outlier because decisions weren't being made at CRE agents were considered non- essential.  This May new sublease postings were below long term avgs in NY.

On the flip side, 1mm sq ft was drawn in April and May, or 6mm sq ft annualized, which would be the highest since 2010.  60% of those withdrawals were stated as tenant changed mind, and now plans on occupying the space again.

There's lots of similar reports recently, some coming from the big consulting firms that are presumably less biased than a brokerage firm.

[JRCLT]

So they gave up on screening the one corner of the deck facing S. Blvd? I feel like the towers are great but at the same time they will continue to encourage the removal of the smaller scale brick structures that give South End some of its charm. 

This particular structure isn’t removing any smaller scale brick building as far as I know? Although there are some construction projects that have and that is undeniable.

[JacksonH]

On 4/14/2021 at 6:35 AM, KJHburg said:

I have heard rumors they have an anchor tenant for it but they stated the would start without one.  

I don't know if they have an anchor tenant, but they are definitely looking for tenants.

https://www.commercialcafe.com/commercial-property/us/nc/charlotte/east-west-station/

On 4/14/2021 at 9:28 AM, Blue_Devil said:

I think that is scheduled for GB in June or July?

I had read Q2 2021, and now we're past that.  Perhaps July is more accurate.  We shall see.

Edited July 8, 2021 by JacksonH

[JacksonH]

Question:  This link says:  Property Size:  363,382 square feet.  Then below that:  Total Space Available:  363,382 square feet.  When I see that, it makes me think they have no tenants.  True?

[atlrvr]

Possibly true.  It very likely means no signed leases.  In commercial deals though, there are often LOI's.  These can be very complexly structured, and usually the space would continue to be marketed as available until the official lease is signed.

 

An example would be ABC corp wants to lease top two floors here.  They sign an LOI, but they is a clause saying if the developer finds a different tenant that wants greater than 50% of total space that the developer can terminate the original LOI if the larger tenant requires that space. 

It can work the other direction too.  XYZ big-tech signs an LOI for the entire building, but has 6 months to change their mind for any reason, or 12 months if the building hasn't reached a certain construction milestone.

Both just made up completely, but would be common negotiations in a large class A office new development.  The broker will continue to market the space as available, but will be willing to disclose more details to legit tenant prospects.

[JacksonH]

Thank you, atlrvr.  That's very helpful information.

[Hushpuppy321]

15 hours ago, JacksonH said:

I had read Q2 2021, and now we're past that.  Perhaps July is more accurate.  We shall see.

My estimate a few months ago was for Groundbreaking\Major Work commencing around years end like November or December.  I still stand by that - these projects (Large Office) always tend to break ground slightly later than anticipated.  Building Construction Industry is still very busy and lacking in skilled laborers.

Edited July 9, 2021 by Hushpuppy321

[Blue_Devil]

So remember we had that discussion on the tents they set up? The Biz Journal had an Article a few weeks back talking about why those were there. It was buried in a very long article on how we changed our economic development process. Basically, there is/was a very serious out of state tenant for 110 East, they were touring the city, with 110 being the final stop of the day, because that is where they were targeting the for their office location. Stiles was going to have them tour an empty lot, but the new city economic development team made them put up tents and cater food, etc. 

[tozmervo]

https://www.instagram.com/p/CUIQQJ5AXNg/?utm_medium=copy_link

I'm finding myself increasingly disappointed in this project. The parking deck looks like sht and makes this thing look horribly suburban in what should be a super urban corner. The very basic glass box on top does nothing to salvage it. Hastings is capable of much better work than this.

 

Edited September 22, 2021 by tozmervo

[CTiger]

Agreed.   The excitement of the height and density have worn off and now I’m just stuck on the monolith of a parking garage.  Can’t see past it.  Not to mention the fact that screening on parking decks almost always looks 100x worse in reality than in renderings.   
If a massive deck is unavoidable, I wish we could  at least take something like the Honeywell design and put it here.  It would fit in better with all the brick buildings around it.  

[RANYC]

24 minutes ago, tozmervo said:

https://www.instagram.com/p/CUIQQJ5AXNg/?utm_medium=copy_link

I'm finding myself increasingly disappointed in this project. The parking deck looks like sht and makes this thing look horribly suburban in what should be a super urban corner. The very basic glass box on top does nothing to salvage it. Hastings is capable of much better work than this.

 

Yes, a bit disappointing, but boy would I take this version of a building-to-garage integration over the crap we've got lining Church Street in uptown.  Having said that, it seems so out of proportion with surroundings - almost gaudy.

Edited September 22, 2021 by RANYC

[Matthew.Brendan]

[Norm2]

12 minutes ago, Matthew.Brendan said:

Are they really going to keep one corner of the deck exposed like that!?

[atlrvr]

Phase 2 will be blocking the view of the uncovered portion.

[Norm2]

1 minute ago, atlrvr said:

Phase 2 will be blocking the view of the uncovered portion.

I keep forgetting that there will be a phase two of this development.

[videtur quam contuor]

On 3/2/2020 at 8:05 PM, tarhoosier said:

East-West light rail station.  Three bus lines. Nine floors of parking. Do better.

 

[KJHburg]

2 hours ago, tozmervo said:

https://www.instagram.com/p/CUIQQJ5AXNg/?utm_medium=copy_link

I'm finding myself increasingly disappointed in this project. The parking deck looks like sht and makes this thing look horribly suburban in what should be a super urban corner. The very basic glass box on top does nothing to salvage it. Hastings is capable of much better work than this.

 

Nashville look LOL why even show even a corner of that garage like that? 

[CLT2014]

Well.... the pretty view of the Uptown skyline while walking on the southern portion of the rail trail was nice while it lasted.....

[KJHburg]

1 hour ago, atlrvr said:

Phase 2 will be blocking the view of the uncovered portion.

It will one day but in the meantime they could have done something there.  Lots of exposed garages in Nashville where the architect is from just there believe me. 

[TheMightyBK]

Can the city not offer incentives to reduce parking? They’re shooting themselves (CATS) in the foot with all those parking spots at light rail stops.

Oh, and I agree 100%…it looks massively out of scale and unfinished. Blah.


Sent from my iPhone using Tapatalk