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Furman Condo/Hotel Tower

atlrvr

By atlrvr
in Charlotte

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AuLukey Town

AuLukey

Posted
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In a way, I hope that council approves his proposal. The only reason is not because I love tall towers, but because next to the gi-normous arena, a 25 story just seems to be a little bit too short for that location based on those renderings. If left as is, this project will either make the arena look taller from a distance than it does now, or will seem a bit lackluster compared to buildings that are not directly corresponding the arena.

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uptownliving Town

uptownliving

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It would be nice to have a rooftop pool, but obviously it is cheaper to put a pool on top of a parking deck since most of the structure support is already there. Whereas a rooftop pool would require much more structure and therefore cost. At least it is on the side that will get a lot of direct sunlight and a lot of that will be refelected off the metal and glass panels of the arena.

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orulz City

orulz

Posted
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As I posted above, the parcel is approximately 100x150 feet. It only looks small since it's surrounded on two sides by the monolithic arena. This building looks like it will have 12,000-15,000 square foot floor plates, which isn't small in the least for a 30-ish story building.

The idea that this parcel is small and that the building will be a "pencil tower" is nothing more than an optical illusion. The building will have a pretty substantial footprint.

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moving uptown Whistle-Stop

moving uptown

Posted
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has anyone done the math yet on this 400k discount furman is asking for? how many floors would that entail to offset the cost in a "reasonable" timeframe? an avg condo of 400k pays 4k in property taxes each year. if he added 10 condos that 40k extra in property taxes/anum and the discount given by the city would be refunded in 10 years minimum (assuming no revaluations). That is a whopping 2 extra floors.

is my math way off or does that make sense?

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monsoon Gigalopolis

monsoon

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This building looks like the offspring resulting from a mating between the Trademart and Courtside. When I was looking at that rendering above, I could not decide which one I was looking at then I remembered this was a new building. :blush:

(I wasn't reading this post in the context of this thread)

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uptownliving Town

uptownliving

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I went to the City Council meeting tonight where they discussed this project. It was a very interesting conversation and I could tell it was like pulling the scab back on a wound because it involved the Arena. Just like the discussions on here about the arena get very heated, so to at City Council.

Furman stated that earlier this summer Blvd Centro was very close to pulling the plug on this project due to the dramtic increase in the cost of construction matierals and the parking situation. However they think this can now work out if the city sells them the property at the appraised value of $2.1M and they are allowed to build 100 spaces of surface parking on top of the loading dock.

The Arena Loading dock was built to accomidate having this parking built on top of it. They will have to rip off the roof that is currently there and put in a new roofing deck to accomidate the parking lot. Since Furman is asking for a lower land price than what was in the original contract he has increase the value of this project by $18M. This building will still be around 25 stories, but since they can put the parking on the roof of the loading dock, that allows them to put in more condos and hotel rooms. That increased tax value means the City will make up the difference in land cost in about 5 years worth of increased property taxes over the original project cost.

There was some knashing of teeth by some council members over why the Bobcats had to approve this, and the lowering of the price, and possibly sending this back out for RFP, and one council member even stated the building was obtrusive to the Arena, and that there should not be anything developed on that parcel.

However I think all those that were knashing their teeth were in the minority and that this plan will get approved because they realise that this is a very hard parcel to develop, and that this is the 6th iteration of development plans for this parcel...that it is time to go ahead with a plan that could work.

This will come back to the Council in Janurary for their approval to close on the deal, however Furman plans to start marketing this publically very soon (expect it to be the Next Big Thing). I suspect Furman wants to get this on the market before Novare's TWELVE gets released.

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dubone Megalopolis

dubone

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Hopefully, the Bobcats will realize everything to do with them is very sensitive, and they'll just rubber stamp anything that comes up that the city approves.

In general, I think that it is a fair plan, as any other prospective buyers of that land would also have similar concerns, but possibly not with the same level of best intentions as Furman tends to have.

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