JLL Marketed Duke Properties (2 now and eventually 3)

[dxartist]

On 5/7/2022 at 8:44 AM, j-man said:

No I’m talking about the parking surface  right next to the building…why does everyone keep asking what parking. Have y’all not ever seen this side of  the building. 

I agree!! It’s something about the convention center that I just don’t like. It still looks outdated on the front side and it is such a huge dead zone in the middle of the city. An entirely new one with a 1,000 room hotel should have been on the table because this one still doesn’t seem that great. Sure it’s location in amazing but they could have done better with it. 

Fair enough.  Since Duke owns that surface lot on that Mint St side of the building, not sure what the new owner will have in mind.   Now I'm curious to see what becomes of it.

[DMann]

Nah!

[dxartist]

Well, just got this in my inbox. Mint Street Parking Deck is  under contract to be sold to Millenium Venture Capital (MVC).  Expected close on sale to be end od 2022 or early 2023.

[RANYC]

8 minutes ago, dxartist said:

Well, just got this in my inbox. Mint Street Parking Deck is  under contract to be sold to Millenium Venture Capital (MVC).  Expected close on sale to be end od 2022 or early 2023.

1. Change in ownership of an asset surrounded by an uptick in activity due to games and performances; the new buyer wants the growing parking fee yield on the asset
2. New vertical development and lot activation

Edited June 28, 2022 by RANYC

[KJHburg]

Now Millenium is the buyer which other Duke Energy property?  the South Church St building or the data center on College I can't keep up with all this?  

[RANYC]

20 minutes ago, KJHburg said:

Now Millenium is the buyer which other Duke Energy property?  the South Church St building or the data center on College I can't keep up with all this?  

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

[RANYC]

1 hour ago, RANYC said:

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

according to jasonthomasclt, it will remain a parking deck for the foreseeable future

 

[kayman]

On 5/5/2022 at 12:43 PM, CharlotteWkndBuzz said:

Don’t think we’re trying to compete with heavyweights like Vegas, Orlando, & New Orleans of the world but we need to be competitive with other peer cities. I’ve always viewed Indianapolis as a similar peer in this respect.  We both strive to be a sports and convention city. That’s their bread n butter. We don’t have a steady tourism pull like New Orleans and other destination cities. Conventions, sporting and other events are what brings a lot of ppl into the city. There are lessons learned when conventions pull out due to lack of size and maybe someday down the road our CC will be reassessed. The old data center project will hopefully have event space and there is the lot behind the Madison & two hotels which I believe is owned by the CC for future expansion. It won’t be contiguous space, however, they could add some significant space if they wanted to. 

Agreed, Charlotte should have a convention center of similar size as Minneapolis, Denver, etc. Yeah Charlotte should have a facility bigger than Nashville's Music City Center.  We have a major global airport (top 10 busiest in the world), so we should either have a larger convention center or at least an airport area convention center to provide an additional site or alternative location to supplement or replace the main one in Uptown.

At the very least it should be at least 500K square feet of exhibition space

[KJHburg]

Talked to a guy from MRP who is buying the Duke Energy building on S Church aka the concrete bunker like building. 

He said the building is perfect for residential in terms of its size.  The ceiling height is 13 feet which allows for high ceilings even with space for mechanicals.  Asana Partners will do the retail around it and they will do a creative office building on the parking lot that is behind the building.  He said he wished his company would have come south first to Charlotte, Raleigh and Nashville before they went to Philly and Baltimore.    They do own one of my favorite bldgs in DC the 2000 Pennsylvania building which saved a row of historic buildings.  MRP is also a partner in the White Point and Barings project at South and East Blvd aka the Walgreens site.   He said the Duke building on S Church was designed by their Nuclear power plant division. 

https://mrprealty.com/

from the Biz Journal article in May for a refresher

""Duke will sell the South Church Street property to MRP Realty, based in Washington, D.C.

MRP founding principal Ryan Wade says the ground floor will be converted into 50,000 to 75,000 square feet of retail and restaurant space. There will be office space, and MRP will build the 14-story addition for 550 apartments.  "This location is the center of what we believe will become the entertainment district of Charlotte with (locally based) Asana Partners curating the retail experience," he says. "Additionally, the characteristics of the existing building allow us to pursue an adaptive reuse of the structure with the goal of delivering the most sustainable, eco-friendly luxury residential building in Charlotte."  Wade details the project as having 100,000 square feet of "creative office" space, 425 loft-style apartment units in the adaptive-reuse part of the building, and 125 ultra-luxury apartments across 12 stories in the tower. Construction will start next year.""

 

[JacksonH]

45 minutes ago, KJHburg said:

Asana Partners will do the retail around it and they will do a creative office building on the parking lot that is behind the building.  He said he wished his company would have come south first to Charlotte, Raleigh and Nashville before they went to Philly and Baltimore.    They do own one of my favorite bldgs in DC the 2000 Pennsylvania building which saved a row of historic buildings. 

 

Oh wow, 2000 Pennsylvania Ave. is a favorite of mine as well.  If these,are the same folks, that's a positive sign.

[Madison Parkitect]

1 hour ago, KJHburg said:

Talked to a guy from MRP who is buying the Duke Energy building on S Church aka the concrete bunker like building. 

He said the building is perfect for residential in terms of its size.  The ceiling height is 13 feet which allows for high ceilings even with space for mechanicals.

 

It's honestly one of the few old office buildings in Uptown that could be easily converted to residential, it's pretty perfect for it.

[Nick2]

26 minutes ago, Madison Parkitect said:

It's honestly one of the few old office buildings in Uptown that could be easily converted to residential, it's pretty perfect for it.

It would be a fantastic spot for it. Gut the insides and throw on a few balconies and you've got the next hot spot.

Edited June 30, 2022 by Nick2

[KJHburg]

He was really excited about the old Duke building and it will be reskinned on the outside not sure what as he had to go and he said they even discussed their retail plans with Lincoln Harris.  Of which I stated they don't know how to do retail very well but will provide lots of customers for their retail curated by Asana partners.  

Another presenter can't remember who know said this the center of uptown business district has moved south which all know that.  

Back in the day KJ story:  when 2000 Pennsylvania Ave first opened teenager KJ was so impressed I drove downtown or rode Metro from Fairfax  to go see their atrium between the new office building and the row of townhomes.  Hey when you lived 10 years in the DC area you had been to every museum and major site multiple times and I found the business district of the District interesting.  (and I was pro Rosslyn before it was popular LOL)  I was going to be an architect back then like Art Vandelay LOL. 

I asked him why so many DC developers are suddenly into NC after years of not doing things here.  He said DC metro is slowing in growth and new opportunities are south.  Ackridge, Hoffman, MRP all DC developers plus the metropolitan partnership which is leading development at 7th and Tryon is another.   and DC developers love to build dense projects and without height restrictions here in most locations they can go tall. 

[AirNostrumMAD]

1 hour ago, KJHburg said:

He was really excited about the old Duke building and it will be reskinned on the outside not sure what as he had to go and he said they even discussed their retail plans with Lincoln Harris.  Of which I stated they don't know how to do retail very well but will provide lots of customers for their retail curated by Asana partners.  

Another presenter can't remember who know said this the center of uptown business district has moved south which all know that.  

Back in the day KJ story:  when 2000 Pennsylvania Ave first opened teenager KJ was so impressed I drove downtown or rode Metro from Fairfax  to go see their atrium between the new office building and the row of townhomes.  Hey when you lived 10 years in the DC area you had been to every museum and major site multiple times and I found the business district of the District interesting.  (and I was pro Rosslyn before it was popular LOL)  I was going to be an architect back then like Art Vandelay LOL. 

I asked him why so many DC developers are suddenly into NC after years of not doing things here.  He said DC metro is slowing in growth and new opportunities are south.  Ackridge, Hoffman, MRP all DC developers plus the metropolitan partnership which is leading development at 7th and Tryon is another.   and DC developers love to build dense projects and without height restrictions here in most locations they can go tall. 

DC Metropolitan area (and the city) is booming insanely. It even has been beating out Seattle in the crane counts (pre and post pandemic), among the top in adding office despite its small city limit size and the metropolitan area is adding among the most people and office space over the decade. Heck, DC added more people than Atlanta between 2010-2020 despite Atlanta having double the city limits. But the South definitely is proving to be a great place for development as the cities grow more urban. DC developers really like Raleigh too I’ve noticed. NC is such a natural place for VA businesses to expand. It’s great to have a booming neighbor. 

In any event. This building definitely needs life breathed into it. It’ll be super positive for the area. I hope they keep the lights on the side of the building I loved those as a child 

 

Edited June 30, 2022 by AirNostrumMAD

[JeanClt]

I hope they keep the lights on the side of the building I loved those as a child 
 

If they don’t duke should slap it right on their blank wall facing now, Brooklyn Village Ave. would do great there.

[DownEast]

I get the feeling that this project is going to be the highest quality and materials that Uptown has seen, residentially speaking. It's going to address the retail needs that really any corner of Uptown sans Tryon St. could use. Adaptive reuse, creative office, tower to replace the parking lot... This could really be great. It may also force LH to finally put down the much-anticipated hotel/residential component of LU.  

[ertley]

I can't express in words how wonderful it is to know that a building (dare I even refer to Hall House?) is able to be assessed on its structural merits AND upon the environmental and resource consequences of demolishing a perfectly serviceable building and rebuilding it anew, and then reimagining the building. I hope this can inspire some new thinking in Charlotte. 

[ClassicColtrane]

so how much taller will this residential project be than the original building? will it be as tall as the catalyst and element? 

very impressed that they’re not demolishing because this building seriously looks like the jail in uptown lol

[j-man]

2 hours ago, ClassicColtrane said:

so how much taller will this residential project be than the original building? will it be as tall as the catalyst and element? 

very impressed that they’re not demolishing because this building seriously looks like the jail in uptown lol

 

So since the current building has 13 ft ceilings, I wonder will the newer floors be the same height or will the floors be the usual 10 ft from top to bottom. 

[dxartist]

On 6/28/2022 at 4:56 PM, RANYC said:

There's a Millenium Venture Capital based in Berlin.  The buyer of the data center on College was also Berlin-Based.  Same or affiliated interests?

According to the FAQ PDF I got in my Duke e-mail inbox, it's the same group based in Berlin.  The FAQ also stated the company negotiated roughly the same monthly rate for Duke Employees for at least the next 5 years. The only thing that will change is the daily parking rate will go up for Duke employees who park at Mint Street on occasions.  This doesn't affect me since I don't exactly work Uptown anymore.   If I need to go, I simply bike or walk that half mile.

Hope this clears it up.

[KJHburg]

Germans and Europeans in general are very patient in development they will develop this huge deck when the time comes but right now probably best to keep it parking for a while longer.  But boy can you build a lot of towers on that site. 

[KJHburg]

On 7/2/2022 at 7:24 PM, KJHburg said:

Germans and Europeans in general are very patient in development they will develop this huge deck when the time comes but right now probably best to keep it parking for a while longer.  But boy can you build a lot of towers on that site. 

and according to the Biz Journal today the German MVC of Berlin will keep the parking deck a parking deck for at least 5 years.  So dont expect any redevelopment anytime soon. 

[RANYC]

43 minutes ago, KJHburg said:

and according to the Biz Journal today the German MVC of Berlin will keep the parking deck a parking deck for at least 5 years.  So dont expect any redevelopment anytime soon. 

Not getting any younger here people 

[AirNostrumMAD]

2 minutes ago, RANYC said:

Not getting any younger here people 

I think I joined this website when I was 15 in high school (under 2 usernames because I was one of many people banned under one crazy moderator) and have been regular since.

I'd be 35 by the time they'd consider getting rid of the deck. So this comment definitely resonates with me, haha. 

[gsutton5]

Has anybody seen this? Lots of interesting details on the below website. It says ‘conceptual’, but still. Any other insight into the status or even possibility of this happening? This website is a hidden gem if you ask me!

http://www.developuptownclt.com/