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NoDa (N Davidson St Arts District) Projects

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4 hours ago, ricky_davis_fan_21 said:

SUGAR CREEK VENTURES LLC – July 2018

How is it that a company (with two employees) that's investing in developments near Sugar Creek Road, and whose name is Sugar Creek Ventures LLC, is headquartered in Indianapolis, Indiana?  https://www.dandb.com/businessdirectory/sugarcreekventuresllc-indianapolis-in-7428960.html

Edited by JacksonH

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44 minutes ago, JacksonH said:

How is it that a company (with two employees) that's investing in developments near Sugar Creek Road, and whose name is Sugar Creek Ventures LLC, is headquartered in Indianapolis, Indiana?  https://www.dandb.com/businessdirectory/sugarcreekventuresllc-indianapolis-in-7428960.html

Because it is probably a shell company.  Also, I question D&B's ability to pull info on a small subsidiary of another company.  Even the details of some large investment grade publicly traded companies on there is wrong (example: VEREIT).

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20 hours ago, Desert Power said:

They'll blow less, but not none.  Like they did when both were closed recently.  Even then, they still blow under Matheson.  And you have the line that cuts diagonally across Davidson above 36th that is supposed to be moved.......one day....

They shouldn't blow at Craighead. And all of the retained fill sections built for the new BLE create somewhat of a new sound wall, like the very tall structure beside N Davidson St south of Craighead, or the one over AC&W by the mill apartments. 

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9 minutes ago, Matthew.Brendan said:

Cut off from NoDa once Craighead closes -_-

Yea, but they still plan to connect Philemon to 36th, right?

Will there be a pedestrian crossing over the NCRR at Craighead after the road closes? I am guessing no, but it would make some sense.

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3 hours ago, kermit said:

Yea, but they still plan to connect Philemon to 36th, right?

Will there be a pedestrian crossing over the NCRR at Craighead after the road closes? I am guessing no, but it would make some sense.

Eventually... actually I can't find any timeline on that... Hmm...

Craighead, yeah no ped bridge. So these will certainly be N.I.M.O (NoDa in Name Only) until that Philemon connection is made. Although they'll have great access to the Flywheel/Sugar Creek projects via Greensboro/Raleigh St!

On the bright side, these having no parking garage may actually be cheaper.

Edited by SgtCampsalot
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16 minutes ago, KJHburg said:

Wow! I keep thinking that the boom is making adaptive re-use is dead in Charlotte, and then stuff like this keeps coming down the pipe.

I swear, everything on the SE side of N Tryon is set to become a whole other world in the next decade (or two, depending on the how the greenway portion of this area goes).

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50 minutes ago, KJHburg said:

I would bet my first born that this does not happen. Just look at these peoples website. canopyclt.com. They have investor buy in requirements on each of their investment "opportunities." crap look at their bios, canopyclt.com/bios. Does this look anything like a legitimate business to any of you guys? They should rename this project "Sketchy McSketcherson Lofts at Sugar Creek Station"

Edited by ricky_davis_fan_21
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4 minutes ago, ricky_davis_fan_21 said:

I would bet my first born that this does not happen. Just look at these peoples website. canopyclt.com. They have investor buy in requirements on each of their investment "opportunities." crap look at their bios, canopyclt.com/bios. Does this look anything like a legitimate business to any of you guys? They should rename this project "Sketchy McSketcherson Lofts at Sugar Creek Station"

LOL..  Also did they just borrow this from Nichols and put on their site?? 

https://www.canopyclt.com/the-rail-house

https://thenicholscompany.com/wp-content/uploads/2018/06/TheRailHouse-Updated-1.pdf

Edited by SouthEndCLT811

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13 minutes ago, SouthEndCLT811 said:

Nichols represented them in the purchase of this building on Raleigh, so I think its actually somehow their project, I'm just realllllly leery of these people. 

Edited by ricky_davis_fan_21
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10 minutes ago, ricky_davis_fan_21 said:

Nichols represented them in the buy of this building on Raleigh, so I think its actually somehow their project, I'm just realllllly leery of these people. 

Lol was going to say the same thing. Sketch ball city

 

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31 minutes ago, ricky_davis_fan_21 said:

I hope you guys trust Chad and Panchali with your investments. yikes

Much like pro poker players, their sunglasses are meant to hide their extremely trustworthy eyes. The ultimate sign of humility.

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Haha...also they state the the minimum net worth of their investors has to be $500k...unless I missed something and the 1934 exchange  act was amended and accredited investor must have $1mm as a net worth qualifier.  Admittedly there are income and entity type qualifiers, but this very awkwardly written.  The minimum investment for their spec home in Plaza-Midwood is $100k...So, one and half investors is all they need to get funding given financing terms.  No project listed is completed.  My only question is how did they come up with the money to buy this building to begin with?  Even with seller financing you are still looking at >$1mm at closing.  This is Ghazi 2.0.

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19 minutes ago, pgsinger said:

Haha...also they state the the minimum net worth of their investors has to be $500k...unless I missed something and the 1934 exchange  act was amended and accredited investor must have $1mm as a net worth qualifier.  Admittedly there are income and entity type qualifiers, but this very awkwardly written.  The minimum investment for their spec home in Plaza-Midwood is $100k...So, one and half investors is all they need to get funding given financing terms.  No project listed is completed.  My only question is how did they come up with the money to buy this building to begin with?  Even with seller financing you are still looking at >$1mm at closing.  This is Ghazi 2.0.

Actually if you dive deeper, there is like 5 companies associated with these two folks. They claim that they built Noda Street Market, and guess what, definitely didn't.

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20 hours ago, ricky_davis_fan_21 said:

I hope you guys trust Chad and Panchali with your investments. yikes

image.thumb.png.d9f4c5cf12ff26367bd072433c0aa04e.png

I went to Design School with Panchali.  I trust her.

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So, while I will be surprised if this project is completed (I would love to be wrong), it does look they have been a part of some decent projects via Cobalt DBS (https://www.cobaltdbs.com/).  Chad is the Manager of this entity and Imprint Properties LLC, the new owner of 4000 Raleigh St.  They did Coltrane's in PM (formerly John's Country Kitchen).  Their historic Dilworth house has some neat features, but it is a random mix of modern and traditional.  Just not my style personally.  

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31 minutes ago, pgsinger said:

So, while I will be surprised if this project is completed (I would love to be wrong), it does look they have been a part of some decent projects via Cobalt DBS (https://www.cobaltdbs.com/).  Chad is the Manager of this entity and Imprint Properties LLC, the new owner of 4000 Raleigh St.  They did Coltrane's in PM (formerly John's Country Kitchen).  Their historic Dilworth house has some neat features, but it is a random mix of modern and traditional.  Just not my style personally.  

I just don't understand why they have 5 different companies doing the same thing under the same umbrella, with what seems like all the same employees

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19 hours ago, ricky_davis_fan_21 said:

I just don't understand why they have 5 different companies doing the same thing under the same umbrella, with what seems like all the same employees

They probably listened to their corporate/tax lawyer who gets paid for each LLC created.  

Actually I'd bet they have different investors for each venture.   

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4 minutes ago, DEnd said:

They probably listened to their corporate/tax lawyer who gets paid for each LLC created.  

Actually I'd bet they have different investors for each venture.   

"Investors"

 

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22 hours ago, pgsinger said:

Haha...also they state the the minimum net worth of their investors has to be $500k...unless I missed something and the 1934 exchange  act was amended and accredited investor must have $1mm as a net worth qualifier.  Admittedly there are income and entity type qualifiers, but this very awkwardly written.  The minimum investment for their spec home in Plaza-Midwood is $100k...So, one and half investors is all they need to get funding given financing terms.  No project listed is completed.  My only question is how did they come up with the money to buy this building to begin with?  Even with seller financing you are still looking at >$1mm at closing.  This is Ghazi 2.0.

The only way I know of to legally get around that is to have a REIT.  

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