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SouthEnd Projects


atlrvr

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They tore down the house on the corner of Mcdonald near Atherton Heights the other day. Construction for Dilworth Lofts should start in the spring. They are already like 60% sold out. The sales office is in the Village of Southend bulding. The floorplans look incredible, with roof top terraces and sunrooms.

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Here is the price list for 3030 south. They sold out phase 1 & 2.

Phase 3 Prices

A 1 Bedroom, 1 Bath Flat $144,900- 151,900

ALT 1 Bedroom, 1 Bath Flat (7 Available)

692 SF

B1 2 Bedroom, 2 Bath Flat $ 235,900-254,900

B2 2 Bedroom, 2 Bath Flat (12 Available)

1045 - 1065 SF

C3 2 Bedroom, 2.5 Bath Townhome with $ 271,900

2-car Garage and Elevated Balcony (6 Available)

1079 SF

C4 2 Bedroom, 2.5 Bath Townhome $ 286,900

With 2-car Garage and Roof Terrace (8 Available)

1112 SF

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Considering that "C" alone is 100 million, the cost overruns that brought the light rail to tally 430 million don't seem bad at all. Crescent is on record as saying they would not be doing this project without the light rail.

If the remaining open land from Scaleybark station to uptown is developed at even half of the density of "C", it could easily be a billion dollars in private investment. And then keep building, all the way to 485. :good:

But for now, talk radio and the Charlotte observer blogs, continue to rag on the "pointless" light rail project that "nobody will use".

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At that point, they'll be blaming all crime and other effects of urbanization on LRT. No doubt that the Trolley and the LRT have both earned their weight in gold in development. For me, the best part of LRT and SouthEnd's redevelopment has been that it has created a new rallying point for city leaders and city bureaucrats. There is now a fairly solid consensus in government plans that the transit corridors must be supported with infrastructure, and that dense pedestrian and transit oriented development is good. That is a major shift for a southern city that has grown mostly through sprawl and suburbanization for half a century (or possibly for a century).

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Dallas is an excellent example of negative talk before light rail. Dallas has seen tons of TOD, renewal of areas and new growth. Now all the critics sings its priases. Charlotte will be just as sucessful. It won't be long before the critics are silenced. I just hope that the success of the South corrider will convince CATS and the city to develop LRT on Independence rather than BRT.

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Your point is very well taken, but something important to remember in the BRT/LRT debate for the SE line is that CATS doesn't have the budget for LRT on Independence before 2025. Even if they make plans for LRT, it would like be an interest busway or BRT system, with funds for LRT coming around 2025 when the initial 25 year plan is built.

That said, I think if CATS can round up the budget for it, it will be a very good tool for rebuilding many of the large parcels along Independence. It probably won't happen the same way as in South End, though.

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  • 2 weeks later...

It WILL begin late summer/early fall, unless something unforeseeable occurs.....they are about to begin renovating their sales center which will be located on the second floor of the Fowler Building (at the corner of Camden and S. Tryon where the Canine Cafe is).

The lower rise apartments could be ready for occupancy by 2nd half 2007, with the mid-rise apartments and condos ready by mid-2008.

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  • 3 weeks later...

SouthEnd Showplace appears to be under construction now at Summit and Church. Here is the location: http://local.live.com/default.aspx?v=2&cp=...9&scene=1905461

West Summit might turn out to be a great urban street, as a spur from Camden and the LRT stop. Too bad the name is confusing after being disconnected from itself by 77. North Summit is on JC Smith's campus, South Summit is in Wesley Heights, and West Summit is east of both of them in South End. There is no East Summit :).

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I'll admit it's a tempting thought to look at some of these units. It's such a quick ride to here, even on the bus. The light rail access would make it even more tempting.

Hopefully when the trains are active, I'll find it convenient enough to continue commuting to Starmount. An $835/mo mortgage (PITI) is also nice to have. :) And that won't be possible in South End.

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  • 3 weeks later...

Thats awsome. The S. LRT is going to end up being our second skyline, of midrises anyway. Are apartments a better bet along the line then in uptown?

I'm not a real estate market expert but I doubt that apartments are going to have any more appeal south of downtown necessarily. I think it really depends on the market. I can imagine that we're about to see a number of announcements for apartment high-rises since the high-rise condo market is being addressed very nicely while the high-rise apartment market - in Charlotte - is close to zero.

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More evidence, the light rail stimulates more investment than it has cost. :) It could pay for itself several times over as more land gets redeveloped.

The medium density development on the line will probably also generate more tax revenue than it costs to serve, as well.

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Are apartments a better bet along the line then in uptown?

I would say its possible due to the lower land costs, and people's willingness to temporarily rent in less-established areas rather than to buy. I wouldn't be suprised if it is built to condo spec, with a conversion occurring a couple of years later.

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This is 2 announcements in one day for mid-high-rise along the South Corridor (the other being Cooperdawgs rumor of midrises at Ideal Way). Combine this with "C", and there is some serious investment coming. Like Uptown, this trend could really pick up....typically residential trends beget more residential development. I hope these announcements give developers confidence to build at every station, especially as the closer in ones become more expensive to develop.

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This is 2 announcements in one day for mid-high-rise along the South Corridor (the other being Cooperdawgs rumor of midrises at Ideal Way). Combine this with "C", and there is some serious investment coming. Like Uptown, this trend could really pick up....typically residential trends beget more residential development. I hope these announcements give developers confidence to build at every station, especially as the closer in ones become more expensive to develop.

I hope so too!

:)

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