Queensbridge Collective - 1 tower, maybe 2

[SouthEndCLT811]

39 minutes ago, Blue_Devil said:

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? 

I was saying the same to my wife last night..  We'll see how far corporate social responsibility spans when there's no corporate income tax in Texas.  You'd think it would have a big impact given the blame HB2 got in NC but it won't surprise me if nothing happens in this case.  At least not until the younger generation that doesn't want to live under draconian laws migrate elsewhere and the companies follow the talent.

Edited September 2, 2021 by SouthEndCLT811

[RANYC]

8 minutes ago, SouthEndCLT811 said:

I was saying the same to my wife last night..  We'll see how far corporate social justice spans when there's no corporate income tax in Texas.  You'd think it would have a big impact given the blame HB2 got in NC but it won't surprise me if nothing happens in this case.  At least not until the younger generation that doesn't want to live under draconian laws migrate elsewhere and the companies follow the talent.

Saw twitter calls to move SXSW.  Austin proper is blue and is hiding under that shield.  NC currently has a nice balance with the GOP Legislature but Cooper in the governor's office.  We've got some loons in our legislature, so I look at what's happening in Texas and simply say : buy by the grace of God go Us...

Wish Charlotte had something similar to SXSW - highly visible and well branded multi-day event representing the intersection of artistry, technical innovation, and capital.

Next Gen North Carolina??

[joenc]

54 minutes ago, Blue_Devil said:

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? 

Finally starting to see articles mentioning this type of thing in business media. (https://www.bloomberg.com/news/articles/2021-09-02/lurch-to-the-right-may-imperil-texas-s-attraction-for-employers?srnd=premium)

Pretty sure they have hb2-style laws of their own too. 

Edited September 2, 2021 by joenc

[kermit]

Texas, our biggest competitor over the past decade, has lots of strikes against it lately:

• Outlawing abortion
• Voter suppression
• Anti-science COVID policy
• Unreliable power grid

Coming soon, water restrictions everywhere in the state beyond Houston.

Polls pretty clearly show that the majority of consumers nationwide feel that the legislative policies above are wrong. Everybody wants to avoid long-term power and water shortages.  I would be surprised if this combination of events did not cause some type of corporate reaction, but I have been surprised before.

Edited September 8, 2021 by kermit

[Blue_Devil]

Also, isn't Texas' big corporate tax incentive for businesses, or something like that, expiring at the end of this year? 

Edit:

https://news.utexas.edu/2021/07/28/could-the-death-of-a-corporate-handout-in-texas-be-a-turning-point-nationwide/

https://www.bizjournals.com/austin/news/2021/08/19/company-relocations-to-austin-region-pick-up.html

It’s seen by many as a useful counter to the state's high property taxes, though Chapter 313 is slated to expire at the end of 2022. Economic experts have suggested Central Texas will see a flood of applications in the next year and a half before the program expires, though a gap in major economic investment could follow.

"We are seeing some of the largest projects in our history and Chapter 313 is a huge consideration for companies with massive capital investment," Bodisch said. "While there are other factors pushing companies to make decisions, Chapter 313 is critical to help offset the tremendous costs. Some of these companies are pushing to get through the decision-making processes quicker in order to capitalize on this important incentive."

Edited September 2, 2021 by Blue_Devil

[CarolinaDaydreamin]

6 hours ago, Blue_Devil said:

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? 

Visa is def looking to get out of Foster City, and I think Dallas is the leading candidate, but this abortion bill isn't going away, and I could see it being a huge obstacle.

[Matthew.Brendan]

Surely it’s Salesfoce (before Millennium tower next door topples over)

https://www.msn.com/en-us/money/realestate/leaning-millennium-tower-in-san-francisco-sinking-faster-retrofit-halted/ar-AANWZd8

Edited September 2, 2021 by Matthew.Brendan
my bad. thought it was SF HQ that was leaning.

[Blue_Devil]

53 minutes ago, Matthew.Brendan said:

Surely it’s Salesfoce (before Millennium tower next door topples over)

https://www.msn.com/en-us/money/realestate/leaning-millennium-tower-in-san-francisco-sinking-faster-retrofit-halted/ar-AANWZd8

Salesforce does like building Towers... Their Chicago one is very nice. 

[Hushpuppy321]

8 hours ago, Blue_Devil said:

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? 

Politics does have an effect on where some companies choose to go or stay but Texas probably will not pay too a heavy price due to their excellent business climate & cheaper real estate.  Anyway - How did PayPal turn out & where did they land since snubbing Charlotte?

[KJHburg]

3 minutes ago, Hushpuppy321 said:

Politics does have an effect on where some companies choose to go or stay but Texas probably will not pay too a heavy price due to their excellent business climate & cheaper real estate.  Anyway - How did PayPal turn out & where did they land since snubbing Charlotte?

never landed anywhere in terms of new expansion maybe adding some jobs to their existing operations but never announced a new location. 

[KJHburg]

Looking forward to this block being redeveloped with the 3 towers.  and this short section of College St will probably go away too really not needed anymore.  Cloud shot is me imagining the huge tower there  what a view it will have of uptown and the surrounding area.   3rd shot is across the street the Enterprise lot where a tower may rise too see plans on that one too a while back. 

[tozmervo]

Right. you were at Uptown Cabaret thinking about the huge... tracts of land. got it. 

[Norm2]

5 minutes ago, tozmervo said:

Right. you were at Uptown Cabaret thinking about the huge... tracts of land. got it. 

Could have been pondering the airports soon to be built "landing strip"

[Richhamleigh, DC]

On 9/2/2021 at 8:52 AM, kermit said:

Texas, our biggest competitor over the past decade, has lots of strikes against it lately:

• Outlawing abortion
• Voter suppression
• Anti-science COVID policy
• Unreliable power grid

Coming soon, water restrictions everywhere in the state beyond Houston.

Polls pretty clearly show that the majority of consumers nationwide are believe that the legislative policies above are wrong. Everybody wants to avoid long-term power and water shortages.  I would be surprised if this combination of events did not cause some type of corporate reaction, but I have been surprised before.

...left off LGBT protections and rights.

[JacksonH]

On 9/6/2021 at 10:14 PM, Phillydog said:

...left off LGBT protections and rights.

It was about 15 years ago, maybe longer, that I was living in Virginia and their (then) very Republican state legislature was on the verge of passing an anti LGBT bill.  Northern Virginia has become that state's bread and butter and there was a huge outcry from some high tech companies that were planning to open major operations in Northern Virginia.  Their concern was that a significant amount  of the talent in that industry is LGBT.  So moving to a state with that kind of law would make it difficult to attract the kind of talent they would need to remain competitive.  These companies threatened Virginia's government that if their law passed they would not move their companies to Virginia.  So the Virginia state legislature acquiesced and immediately put a halt on that bill and it never became law.  And Northern Virginia has thrived ever since.  But that's the difference between Virginia and Texas:  this terrible bill in Virginia was stopped before becoming law, while Texas has actually made these (multiple) horrible discriminatory bills the law of the land.  I will be surprised if there is not a major backlash.

Edited September 8, 2021 by JacksonH

[kermit]

On 9/2/2021 at 8:16 AM, SouthEndCLT811 said:

I was saying the same to my wife last night..  We'll see how far corporate social responsibility spans when there's no corporate income tax in Texas.  You'd think it would have a big impact given the blame HB2 got in NC but it won't surprise me if nothing happens in this case.  At least not until the younger generation that doesn't want to live under draconian laws migrate elsewhere and the companies follow the talent.

One observation does not make a dataset but… Salesforce has offered to relocate its Texas staff out of the state. While I probably wouldn't term this as an exit from the market, I would think it signals that the company will no longer consider Texas for expansions.

https://www.cnbc.com/2021/09/10/salesforce-offers-to-relocate-employees-from-texas-after-abortion-bill.html

 

Edited September 11, 2021 by kermit

[CarolinaDaydreamin]

Sounds like we may be hearing some big news here soon. 

[KJHburg]

1 hour ago, CarolinaDaydreamin said:

Sounds like we may be hearing some big news here soon. 

Yes I have heard rumors.   Get ready for uptown Charlotte tall buildings on this site like a 600 plus foot tall tower!  I am very excited to hear who this anchor tenant is will they be local already in the market or a big relo from a golden state.  

Edited November 4, 2021 by KJHburg

[Hornets]

There was smoke on Twitter yesterday that a big announcement was supposed to take place today.  When pressed, it was said  something to the effect of a land swap.  What will be built on the land was something to get excited about.  Also, was hinted that Southend is getting ready to "grow up" with development.  We shall see!

24 minutes ago, KJHburg said:

Yes I have heard this week they will be closing on the land if not already.   Get ready for uptown Charlotte tall buildings on this site like a 600 plus foot tall tower!  I am very excited to hear who this anchor tenant is will they be local already in the market or a big relo from a golden state.  

Said it's BIG names.   Whomever that may be?

Edited November 4, 2021 by Hornets

[KJHburg]

Why dream small things and I am dreaming big  as a big relo and some think I am crazy.   and yeah I maybe California dreaming but I guess we will find out LOL.  We will see how the cards fall. 

But this I know you dont start a huge office tower in this environment without an anchor tenant and certainly not one this big and tall. 

[Blue_Devil]

I think it is SVB, I know there are a few senior people in the company who have closed on houses here. I also know the Tenant for another tower in the area... but I cant say as it will hit to close to home. I posted it, and then thought better. 

[KJHburg]

1 minute ago, Blue_Devil said:

I think it is SVB, I know there are a few senior people in the company who have closed on houses here. I also know the Tenant for another tower in the area... but I cant say as it will hit to close to home. I posted it, and then thought better. 

I would welcome Silcon Valley Bank to open an east HQ here but I dont think it the anchor of this tower.  But who knows maybe I am wrong.  I was thinking someone more up closer to the golden gate.  

[Blue_Devil]

Just now, KJHburg said:

I would welcome Silcon Valley Bank to open an east HQ here but I dont think it the anchor of this tower.  But who knows maybe I am wrong.  I was thinking someone more up closer to the golden gate.  

I will say the other tower, which we have all be speculating on, the tenant is local and not a bank. We won't see renderings until its coming out of the ground. 

[KJHburg]

2 minutes ago, Blue_Devil said:

I will say the other tower, which we have all be speculating on, the tenant is local and not a bank. We won't see renderings until its coming out of the ground. 

Oh the 23 story Lincoln Harris tower at Legacy with US Bank as the anchor or another one?   Must be an accounting firm then or big law firm. 

Edited November 4, 2021 by KJHburg

[Blue_Devil]

Just now, KJHburg said:

Oh the 23 story Lincoln Harris tower at Legacy with US Bank as the anchor or another one? 

Can't say