Queensbridge Collective - 1 tower, maybe 2

[Blue_Devil]

2 hours ago, CharlotteWkndBuzz said:

With these proposed towers mentioned on this site, in addition to, the whole morehead st corridor about to explode into it’s own little skyline, the case for a cap/park over 277 has to be strengthened I would imagine. It would be expensive endeavor but it would be amazing. 

Given the site prep at Legacy Union right now, I imaging they have a tenant lined up for a tower too. 

26 minutes ago, kermit said:

I suspect that, once opened, the medical school is going to create substantial residential demand in the neighborhood (including at LU).

The rumor mill says that the tenant has plenty of money to pay for this, they fit very nicely into the uptown ecosystem, and they have nothing to do with the medical school.

Does the rumor mill say whether they are already established here, or new to the area? 

[kermit]

^ Its just a rumor. But they currently have a small handful of people here (<100).

[KJHburg]

1 hour ago, CLT704 said:

Any word on a tenant? You'd be pretty crazy to build a 40+ floor spec office tower in this environment. 

Only heard they have one do not believe it will be spec as no one will build that big.  In market and out of market tenants names floating around 

[navigator319]

I'm now convinced that you are intentionally trolling and/or have never been to Gateway. J&W moved into their "old" buildings way back in...2004.  Gateway Village is actually a pretty decent piece of urban development, including a public park space integrated within the main complex, parking largely hidden behind (not under) apartments and retail. It's a work in progress like much of the city but what has been developed in the past 20 years there is mostly pretty good. 
https://www.google.com/search?q=gateway+village+charlotte&client=ms-android-hms-tmobile-us&prmd=nmixv&sxsrf=AOaemvLIVmNyQBosgjsszSiyPCyGBqCWyQ:1630152934125&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjZmsX02NPyAhUVVTABHWdOBJQQ_AUoA3oECAIQAw&biw=360&bih=612&dpr=3
https://www.google.com/search?q=johnson+and+wales+charlotte&tbm=isch&ved=2ahUKEwiJ74v22NPyAhXkUd8KHTYYCc4Q2-cCegQIABAC&oq=johnsoncharlotte&gs_lcp=ChJtb2JpbGUtZ3dzLXdpei1pbWcQARgCMgQIABANMgQIABANMgYIABAHEB4yBggAEAcQHjIGCAAQBxAeOgcIIxDvAxAnOgQIABAYOgUIABDNAjoKCCMQ7wMQsAIQJzoFCCEQqwI6CAgAEA0QBRAeOggIABAIEA0QHjoGCAAQBRAeOgQIABBDOgcIABCxAxBDOggIABCABBCxAzoKCAAQsQMQgwEQQ1Dw5wNYmJwEYPyrBGgAcAB4AIABnwKIAf4VkgEHMTEuMTEuMpgBAKABAcABAQ&sclient=mobile-gws-wiz-img&ei=6SgqYcnWFuSj_Qa2sKTwDA&bih=612&biw=360&client=ms-android-hms-tmobile-us&prmd=nmixv
As for the church, the forced razing and relocation of the Brooklyn neighborhood in the '60s and '70s remains the most egregious development offense in modern city history (narrowly edging the building of freeways through African American neighborhoods).  I'd chain myself to that church before I let someone knock it down.

Hah I’m really not. I live two/three blocks away up Trade St. There is nothing here. The market bears this out too. Can’t give away the condos here and the office space is -$12/15 less then anything in ‘’real’ uptown/SE/midtown/SP/park rd. Need a developer with deep pockets and who wants a vision legacy project and can do something special here on all these blocks. Anyway we can let these people have their thread back. Can agree to disagree on this.

[Blue_Devil]

So interestingly, Riverside announced they are going spec on their 30 story Denver tower: https://www.bizjournals.com/denver/news/2021/07/21/1900-lawrence-downtown-denver-office-building.html

They announced it in July.

[Hushpuppy321]

23 hours ago, Blue_Devil said:

So interestingly, Riverside announced they are going spec on their 30 story Denver tower: https://www.bizjournals.com/denver/news/2021/07/21/1900-lawrence-downtown-denver-office-building.html

They announced it in July.

That is interesting on it's face but also is a bit upsetting.  Charlotte never (recently) seems to get  Speculative Projects of that size to actually Start.  I wonder if we (CLT) are truly a more risky prospect than our 'Peer' Cities like Denver?

[Blue_Devil]

43 minutes ago, Hushpuppy321 said:

That is interesting on it's face but also is a bit upsetting.  Charlotte never (recently) seems to get  Speculative Projects of that size to actually Start.  I wonder if we (CLT) are truly a more risky prospect than our 'Peer' Cities like Denver?

I mean, Legacy Union 2, Spectrum 2, and the Line have all gone up on Spec over the last 3 years.... all 300,000sqft+. Two of those projects currently have no tenants, with the Line being 3 or so months from completion. 

[TheRealClayton]

1 hour ago, Blue_Devil said:

I mean, Legacy Union 2, Spectrum 2, and the Line have all gone up on Spec over the last 3 years.... all 300,000sqft+. Two of those projects currently have no tenants, with the Line being 3 or so months from completion. 

They absolutely have tenants. :-)

[Blue_Devil]

Just now, TheRealClayton said:

They absolutely have tenants. :-)

 

[EllAyyDub]

I have nothing to add, just wanted to say 150 Riverside in Chicago is my third favorite building in the World - so I have high hopes here!

[Norm2]

Any speculation when this project may be officially announced?

[KJHburg]

6 hours ago, Blue_Devil said:

I mean, Legacy Union 2, Spectrum 2, and the Line have all gone up on Spec over the last 3 years.... all 300,000sqft+. Two of those projects currently have no tenants, with the Line being 3 or so months from completion. 

Legacy 2 had Deloitte and they were a preleased tenant and yes Spectrum vantage southend is spec but much smaller as is the Line Portmans tower but now I have heard they have a tenant for a few floors.  The massive size of the Riverside office tower 750K sq ft or more is why they need an anchor tenant.  Maybe one that is given up on California who knows. 

[SydneyCarton]

Is this likely to be office space or residential?  Also, is this something that's going to happen within the year or more of a longer term likelihood?   Even when I first moved to Charlotte in 2008, I thought that this was a massive waste of prime space.

[Blue_Devil]

1 hour ago, SydneyCarton said:

Is this likely to be office space or residential?  Also, is this something that's going to happen within the year or more of a longer term likelihood?   Even when I first moved to Charlotte in 2008, I thought that this was a massive waste of prime space.

3 towers. 1 office, 2 residential. 

[SydneyCarton]

2 hours ago, Blue_Devil said:

3 towers. 1 office, 2 residential. 

That's fantastic!  Will they all rise at once or in stages?

Also, when is it likely to start?

Do you have any idea as to the height?

[Norm2]

14 minutes ago, SydneyCarton said:

That's fantastic!  Will they all rise at once or in stages?

Also, when is it likely to start?

Do you have any idea as to the height?

If I had to guess, probably will be built in stages. The office tower will probably be over 500 feet tall. No word as of yet when this might start.

[Blue_Devil]

On 8/28/2021 at 5:47 PM, kermit said:

^ Its just a rumor. But they currently have a small handful of people here (<100).

Citi?

[RANYC]

On 8/31/2021 at 1:00 PM, Blue_Devil said:

Citi?

informed speculation or wild?

[Blue_Devil]

1 hour ago, RANYC said:

informed speculation or wild?

It was a question... They are an employer who has started hiring in the area, with probably about 90 employees, who would be home in uptown near Tryon... Which are the hints dropped. But entirely speculative on my part. They are hiring pretty heavily, not just what they are posting on Job sites either. Active recruiting of mid and senior managers for Risk/Controls/Audit in the area. 

 

Edit: Wanted to add, Citibank looks like Wells did 5 years ago. They are facing a huge amount of regulatory pressure, have multiple consent orders, and need to build out independent risk management. Over the last 5 years, Wells hire 1000s of IRM employees to satisfy their consent orders, before them BOA in the early 2010s... expect Citi to do the same. It will be interesting to see if they do it here in Charlotte, but they are hiring here. 

Here is some background on what they are doing. 

https://www.bloomberg.com/news/articles/2021-06-16/citi-slumps-after-warning-of-costs-rising-and-revenue-slipping

Edited September 1, 2021 by Blue_Devil

[KJHburg]

On 8/31/2021 at 11:05 AM, norm21499 said:

If I had to guess, probably will be built in stages. The office tower will probably be over 500 feet tall. No word as of yet when this might start.

probably over 600 feet tall for the office tower it is really big and tall from what I have seen.  Citi could be a possibility but there are others far west too in a city by the bay. 

[cltbwimob]

51 minutes ago, KJHburg said:

probably over 600 feet tall for the office tower it is really big and tall from what I have seen.  Citi could be a possibility but there are others far west too in a city by the bay. 

I’ve read a company that would fit well amongst the companies in uptown” but not “the stagecoach”...so a major fintech???

[KJHburg]

8 minutes ago, cltbwimob said:

I’ve read a company that would fit well amongst the companies in uptown” but not “the stagecoach”...so a major fintech???

I am on vacation this week my spokesperson will issue a statement next week. 

[joenc]

1 hour ago, KJHburg said:

probably over 600 feet tall for the office tower it is really big and tall from what I have seen.  Citi could be a possibility but there are others far west too in a city by the bay. 

SVB?

[atlrvr]

2 minutes ago, joenc said:

SVB?

I see them with a fair number of job postings and even hired a few senior execs lately, but haven't heard anything about a major expansion....but maybe???

[Blue_Devil]

So if this is a big bay area company (BNP Paribas, Uber, Visa?) looking to leave or expand elsewhere, which a lot are doing, I wonder how much this new Texas abortion law will pay into it, as well as future issues. We got a lot of flack for the bathroom bill. This seems monumentally bigger, and will likely be much more drawn out. How many relocating companies will pause all together and start focusing on Charlotte, Nashville, Raleigh, Tampa, etc?