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Myers Park / Eastover Projects

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The chimneys are a bit forced - and I would challenge their use of "southern style" in the description - but there are some details in the model that look promising. The bowed brick openings on the first floor look like they could be very nice.

 

They have added a good bit of the brick facade, and I don't mind it one bit.  I even like the funky hour-glass brick columns.

 

A couple blocks away, Meeting Street Homes is planning on demolishing the older apartment building at the NE corner of Selwyn and Croydon.  Below is a link.  This is pretty prelim at the moment, and the "elevations" I believe are a poor representation of what they will actually build.  Likely that same general ouotline, but much higher quality facade/materials.  While most of what they do is above average suburban planned-community townhomes, they did Chipping Camden which is one of the best (in my opinion) in-fill projects in the city (tucked way back in the NE quad of Providence and Wendover).

 

http://www.meetingstreet.net/Community_Towns-at-Croydon

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So there is something in the works for the large tract of vacant land on Queens Rd just between Hopedale and Ardsley (this is the section that eventually turns into Morehead).  I think it's about a 2+ acre site, and used to have an apartment building on it that burned down probably 10-12 years ago.

 

Brian Speas, who developed the Boxwood Condos, and several projects along Cheokee and Fenton Pl in Eastover controls the site, and I believe is planning luxury townhomes there, but I'm not entirely sure.  I really like all of his projects.  While very traditional, they seem to have good massing and attention to detail.

 

Below is architect he has previously used for good examples.  I'm hopeful, because that vacant site really is an eyesore.

 

http://schraderdesign.com/pages/portfolio/portfolio.aspx?catid=3&projid=49

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So there is something in the works for the large tract of vacant land on Queens Rd just between Hopedale and Ardsley (this is the section that eventually turns into Morehead).  I think it's about a 2+ acre site, and used to have an apartment building on it that burned down probably 10-12 years ago.

 

Brian Speas, who developed the Boxwood Condos, and several projects along Cheokee and Fenton Pl in Eastover controls the site, and I believe is planning luxury townhomes there, but I'm not entirely sure.  I really like all of his projects.  While very traditional, they seem to have good massing and attention to detail.

 

Below is architect he has previously used for good examples.  I'm hopeful, because that vacant site really is an eyesore.

 

http://schraderdesign.com/pages/portfolio/portfolio.aspx?catid=3&projid=49

 

 

So this rendering is out there now on a different architects site, but I believe is the current plan.

 

http://bhmarc.com/?portfolio=harvard-place

 

I'm definitely infatuated with this.  This is a really classic/urban plan, that would work perfectly there.

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Another Myers Park site that is vacant has an apartment in the planning phase.

 

Faison bought 511 Queens (basically next to Theatre Charlotte).  The site used to be a cool 1950's midrise apartment building.  It was demoed for 2 condo buildings in the mid-2000's that died with the economy.

 

Faison is planning 60-70 high-end apartment units on the site.

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Another Myers Park site that is vacant has an apartment in the planning phase.

 

Faison bought 511 Queens (basically next to Theatre Charlotte).  The site used to be a cool 1950's midrise apartment building.  It was demoed for 2 condo buildings in the mid-2000's that died with the economy.

 

Faison is planning 60-70 high-end apartment units on the site.

Oh good, we needed more.

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Oh good, we needed more.

 

Curious what this means.  Is this commentary on the supply of rental versus for-sale housing, and you think the site might be better suited for condos?  Or, is this just a cynical comment for the sake of being jaded.

 

I mean, it's Queens Rd, there is no way zoning would allow anything other than residential, its a vacant parcel.....

 

I personally think that more in-town housing is a good thing.  I think that this stretch of Queens road has very little rental properties and lots of condos, so this isn't skewing a sustainable balance.

 

Sorry if I read to deep into this short reply.

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Curious what this means.  Is this commentary on the supply of rental versus for-sale housing, and you think the site might be better suited for condos?  Or, is this just a cynical comment for the sake of being jaded.

 

I mean, it's Queens Rd, there is no way zoning would allow anything other than residential, its a vacant parcel.....

 

I personally think that more in-town housing is a good thing.  I think that this stretch of Queens road has very little rental properties and lots of condos, so this isn't skewing a sustainable balance.

 

Sorry if I read to deep into this short reply.

Lol you read way too deep into it. I was just making a snarky comment on the insane influx of 'luxury apartments' coming in. But, yes I agree more in-town is great.

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Lol you read way too deep into it. I was just making a snarky comment on the insane influx of 'luxury apartments' coming in. But, yes I agree more in-town is great.

These probably appeal to a different demographic (older, wealthier) than the uptown and southend apartments. I think these will do alright.

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These probably appeal to a different demographic (older, wealthier) than the uptown and southend apartments. I think these will do alright.

The insanely expensive apartments on the corner of Selwyn and Queens Road West are almost 100% leased and their entry level rent prices are 800 more a month than I pay for my 2 bedroom in Brooklyn.

 

http://www.mynicheapartments.com/niches/2100-queens

Edited by ricky_davis_fan_21
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The insanely expensive apartments on the corner of Selwyn and Queens Road West are almost 100% leased and their entry level rent prices are 800 more a month than I pay for my 2 bedroom in Brooklyn.

 

http://www.mynicheapartments.com/niches/2100-queens

Unreal.

 

Why do people rent these? Are they people that don't live here full time, but work in Charlotte frequently?

 

I just can't imagine why anyone that plans to stay long term would pay insane rental amounts when they could buy for much less each month.

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Unreal.

 

Why do people rent these? Are they people that don't live here full time, but work in Charlotte frequently?

 

I just can't imagine why anyone that plans to stay long term would pay insane rental amounts when they could buy for much less each month.

I always pictured those potential tenants as a bunch of Lucille Bluths.

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When these types of buildings were built to "go condo", renters had right of first refusal...  Not sure if that is the case here or not. 

Edited by archiham04

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Unreal.

 

Why do people rent these? Are they people that don't live here full time, but work in Charlotte frequently?

 

I just can't imagine why anyone that plans to stay long term would pay insane rental amounts when they could buy for much less each month.

 

I've done work for a family of 3 that lives there.  Kid is high school age.  Not sure why they live there, but I did work for a family of similar demographics in South Park area apartments who were completely renovating their home in Eastover so living in their apartment for a year while the work was being done.  Could be a similar reason.  I didn't ask.  Really didn't think of it at the time.

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^  Yeah, I would imagine people with home under construction/renovation, recent relos to the area that want to take their time before buying, recent divorcees, people with expected job transience, people who want to have a "guest house" near their home for friends and family.

 

Not a huge market, but plenty enough demand for the relatively few units at this price-point.

 

Edit: Forgot about professional athletes (maybe they fall into the transient job category).

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Also don't forget about taxes.... people compare a 3,000/mo rent to a 3,000/mo mortgage... but they often times the don't take into consideration the 1,800/mo tax bill.  CLT ain't cheap.

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Also don't forget about taxes.... people compare a 3,000/mo rent to a 3,000/mo mortgage... but they often times the don't take into consideration the 1,800/mo tax bill.  CLT ain't cheap.

 

$1,800 per month in taxes would equate to a home worth roughly $17.7 Million...  

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I think your decimal places are off. Should be $1.7 mil

 

Edit: Teeg beat me to it.

Edited by Prodev
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