210 Trade | EpiCentre

[kermit]

CBJ says that CIM Group has defaulted on their loan (a while back) and the Epicenter is now in recievership

https://www.bizjournals.com/charlotte/news/2021/08/19/epicentre-goes-into-receivership.html

Edited August 19, 2021 by kermit

[Matthew.Brendan]

Aww shucks. 

[Desert Power]

On 8/10/2021 at 3:59 PM, nakers2 said:

IMO Charlotte needs to embrace the natural congestion that comes with dense urban zones. IE, double parking, taxi stands, short term curb parking, clearly marked loading zones *outside* bike lanes, etc.

I completely disagree with this. Making uptown more congested and not enforcing the rules will just leave things less safe for pedestrians and bikers. A further subsidy to drivers which they do not need!

[nakers2]

1 hour ago, Desert Power said:

I completely disagree with this. Making uptown more congested and not enforcing the rules will just leave things less safe for pedestrians and bikers. A further subsidy to drivers which they do not need!

Well I disagree with your disagreement. I don't think offering short term parking would be a subsidy at all, and it could, among other things, save or sustain this place until it can get some more nightlife and pedestrian retail back into place. Even in Europe businesses offer free or inexpensive/validated parking to their patrons. 99% of the light rail riders who go, or in the past, went to the Epicenter did so because they didn't want to drive, not because they couldn't. Lets not kid ourselves, if someone with car want to go pick up something at a business (such as Insomnia) and the Epicenter is hostile to them, their car, if anything, will be used for a longer trip to another location. 

[kermit]

It looked truly awful from the train today.  Is the CVS closed? It looked like it from the station side.

[Desert Power]

On 8/21/2021 at 5:59 PM, nakers2 said:

Well I disagree with your disagreement. I don't think offering short term parking would be a subsidy at all, and it could, among other things, save or sustain this place until it can get some more nightlife and pedestrian retail back into place. Even in Europe businesses offer free or inexpensive/validated parking to their patrons. 99% of the light rail riders who go, or in the past, went to the Epicenter did so because they didn't want to drive, not because they couldn't. Lets not kid ourselves, if someone with car want to go pick up something at a business (such as Insomnia) and the Epicenter is hostile to them, their car, if anything, will be used for a longer trip to another location. 

Touche. I certainly support more parking garages validating for the retail customers.

[Temeteron]

22 minutes ago, Desert Power said:

Touche. I certainly support more parking garages validating for the retail customers.

To be honest, none of the locals ever would park in the garage there when we actually would go there. Way too overpriced.  Also, nowadays, even with panthers games, there are way more places to park than before; so I’m not sure if they are making money at all from special events.  Perhaps from Hornets games due to proximity of the arena.  

Edited August 23, 2021 by Temeteron

[KJHburg]

Not good this morning. 

Tina Terry
@TinaTerryWSOC9

NEW INFO: CMPD says officers encountered a person armed with a rifle near the Epicentre. They say the person fired one round at security. No one has been hit at this time. No officers have returned fired. 
@wsoctv

 

Update:  
Allison Latos
@AllisonWSOC9

#BreakingNews UPDATE: CMPD source tells me officers took a suicidal woman into custody. She was armed with a rifle near the Epicentre & fired a round at security. No one was hurt. Officers were able deescalate the situation. 
@wsoctv

Edited August 30, 2021 by KJHburg

[tozmervo]

46 minutes ago, KJHburg said:

Not good this morning. 

Sounds like the best possible outcome for that situation.

[CLT2014]

Glad nobody was hurt. The media will have a field day with this and the social media comments will roll about how crappy the Epicentre is.

In the overhaul of this place someday, the "Epicentre" name will need to go. It has lost its luster and has a bad reputation. No major tenants are coming in the current state / name when a basic google search returns top results like "Shooting," "Foreclosure," "Doctor shot," " beleaguered", et... . High quality tenants like Apple, CityTarget,  H&M, Zara, et... don't sign up at dying shopping centers. Heck, even the CVS may bounce soon. 

Edited August 30, 2021 by CLT2014

[rancenc]

Could this retailer be the anchor savior of the EpiCentre complex?? Pembroke NC just landed one!!

https://www.robesonian.com/news/149803/dollar-general-store-in-pembroke-opens

[KJHburg]

walked through Epicenter this past weekend and what a sad sight it was.  Everything but the 2 hotels and the parking garage below needs to be redone.  The paver blocks were loose when I was walking on them not to mention  other signs of neglect.  This needs to be a priority on reimagining this place.  Again I think the big banks with the help of some local developers should buy this out of foreclosure to protect their nearby investments.  When you lose all your national chains it is pretty bad.  There is a local Japanese place I like that is still in there and the CVS.  

What is the status of this place with its ownership CIM which is proposing all these big things in the Gulch in Atlanta.?  This can be made lively again with someone who cares and Covid killed many of the restaurants and so forth when uptown became a ghost town for a year.  But uptown is now coming back and more attention of the Charlotte center city partners for solutions.  You want to know why Southend is stealing uptown's thunder here is an example.   Also an example of how government involvement in retail projects has failed almost everytime in Charlotte (Cityfair and now this place)    What ideas would you propose besides tearing it all down because with 2 hotels that is not happening.  

Here is there website which looks new

Epicentre ::: Charlotte ::: NC (epicentrenc.com)

but look at the directory map of the 2nd floor only 2 retailers and medical office.

Edited November 30, 2021 by KJHburg

[RANYC]

1 hour ago, KJHburg said:

walked through Epicenter this past weekend and what a sad sight it was.  Everything but the 2 hotels and the parking garage below needs to be redone.  The paver blocks were loose when I was walking on them not to mention  other signs of neglect.  This needs to be a priority on reimagining this place.  Again I think the big banks with the help of some local developers should buy this out of foreclosure to protect their nearby investments.  When you lose all your national chains it is pretty bad.  There is a local Japanese place I like that is still in there and the CVS.  

What is the status of this place with its ownership CIM which is proposing all these big things in the Gulch in Atlanta.?  This can be made lively again with someone who cares and Covid killed many of the restaurants and so forth when uptown became a ghost town for a year.  But uptown is now coming back and more attention of the Charlotte center city partners for solutions.  You want to know why Southend is stealing uptown's thunder here is an example.   Also an example of how government involvement in retail projects has failed almost everytime in Charlotte (Cityfair and now this place)    What ideas would you propose besides tearing it all down because with 2 hotels that is not happening.  

Here is there website which looks new

Epicentre ::: Charlotte ::: NC (epicentrenc.com)

but look at the directory map of the 2nd floor only 2 retailers and medical office.

Charlotte's new Crossroads for Creative & Cultural Expression 

>Music Hall (a wing of the complex almost in a variety show format with small-stage venues for live music, instrumentation, recitals)

>Multi-Arts Performance Space - nearly continuous live performance art of every type

>Piano Bar

>Karaoke Bar (I'm not a big fan but might as well throw in the option here)

>Comedy Club

>Incubation site for start-ups focused on the green economy

>"Charlotte By Hand": a local movement to showcase and celebrate Artisanal Handicraft merchants and entrepreneurship

>Location of Charlotte's Arts & Culture Office, and Charlotte's Cultural Affairs Office (if it has one)

 

Edited November 30, 2021 by RANYC

[TheRealClayton]

11 hours ago, KJHburg said:

walked through Epicenter this past weekend and what a sad sight it was.  Everything but the 2 hotels and the parking garage below needs to be redone.  The paver blocks were loose when I was walking on them not to mention  other signs of neglect.  This needs to be a priority on reimagining this place.  Again I think the big banks with the help of some local developers should buy this out of foreclosure to protect their nearby investments.  When you lose all your national chains it is pretty bad.  There is a local Japanese place I like that is still in there and the CVS.  

What is the status of this place with its ownership CIM which is proposing all these big things in the Gulch in Atlanta.?  This can be made lively again with someone who cares and Covid killed many of the restaurants and so forth when uptown became a ghost town for a year.  But uptown is now coming back and more attention of the Charlotte center city partners for solutions.  You want to know why Southend is stealing uptown's thunder here is an example.   Also an example of how government involvement in retail projects has failed almost everytime in Charlotte (Cityfair and now this place)    What ideas would you propose besides tearing it all down because with 2 hotels that is not happening.  

Here is there website which looks new

Epicentre ::: Charlotte ::: NC (epicentrenc.com)

but look at the directory map of the 2nd floor only 2 retailers and medical office.

I'm not sure how the "government's involvement" doomed this. Afshin Ghazi being a conman, who was trying to accomplish something well outside his means doomed this. The city owned the land, sold the land, and then subsidized the parking, no more. The "government involvement' angle is tired and not based in fact.

Edited November 30, 2021 by TheRealClayton

[KJHburg]

I stand corrected I thought the city did a lot more than parking and selling it at a cut rate deal.  and yes he was not a good developer lets just say that.  

[Madison Parkitect]

Ghazi was a conman who built something that is now quite literally falling apart. The sooner it's torn apart to the studs and rebuilt, the better. It's such a negative mark on uptown.

[RANYC]

1 hour ago, TheRealClayton said:

I'm not sure how the "government's involvement" doomed this. Afshin Ghazi being a conman, who was trying to accomplish something well outside his means doomed this. The city owned the land, sold the land, and then subsidized the parking, no more. The "government involvement' angle is tired and not based in fact.

I'm relatively new to Charlotte, but does the city and/or county have a very different process and criteria now for selecting/prioritizing counterparties for land sales that are expected to result in catalytic development projects, versus the framework in place when Ghazi was chosen to acquire land for development of Epicentre?  Or is there no way for us to avoid situations like this...it's all just a matter of luck?

[kermit]

8 minutes ago, RANYC said:

I'm relatively new to Charlotte, but does the city and/or county have a very different process and criteria now for selecting/prioritizing counterparties for land sales that are expected to result in catalytic development projects, versus the framework in place when Ghazi was chosen to acquire land for development of Epicentre?  Or is there no way for us to avoid situations like this...it's all just a matter of luck?

I am no expert but I believe that any city-owned land being sold (as opposed to leased like the land beneath BoA stadium) must be auctioned in order to avoid sweetheart deals. I don’t have any memory of the Ghazi Epicenter deal however. 

[Guest]

6 hours ago, RANYC said:

I'm relatively new to Charlotte, but does the city and/or county have a very different process and criteria now for selecting/prioritizing counterparties for land sales that are expected to result in catalytic development projects, versus the framework in place when Ghazi was chosen to acquire land for development of Epicentre?  Or is there no way for us to avoid situations like this...it's all just a matter of luck?

YES. Both written into policy and through more competent leadership (in my opinion)

[RANYC]

Epicentre now in foreclosure, according to bizjournals.  90-120 day process.  Everything but hotels is collateral for the loan now in default.  Vacancy rate over 69%.

[Temeteron]

2 hours ago, RANYC said:

Epicentre now in foreclosure, according to bizjournals.  90-120 day process.  Everything but hotels is collateral for the loan now in default.  Vacancy rate over 69%.

Big surprise! lol

[KJHburg]

Time for our big banks to buy it up for pennies on the dollar and then hire a good leasing agent to revitalize it then sell it.  Come on big T,  Bank of America and Stagecoach step up to protect your multimillion dollar investments uptown.  

as I remember the Ghazi deal is that the city gave him a sweetheart deal for the the block and they did contribute towards the parking garage.  I also remember plenty of contractors saying they did not paid as per their contracts etc.  

Edited December 1, 2021 by KJHburg

[JRCLT]

Didn’t know there was a high-rise at the epicenter!! *blue font*

[TheRealClayton]

1 hour ago, JeanClt said:

Didn’t know there was a high-rise at the epicenter!! *blue font*

Unless it can be gotten at a record low price, and engineers cannot figure out how shore up the parking deck, this will be the ultimate fate of Epicenter. Price will be too high to remain as is. 

[kayman]

There are air rights to build an additional highrise. However I don't know when or if anything will come of that

Edited December 13, 2021 by kayman