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SkyHouse Charlotte, Publix and 10Tryon Tower in 4th Ward


monsoon

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  • 2 weeks later...

Skyhouse Phase II is now moving forward. Description from public records - 

SkyHouse Charlotte II

• Detailed Scope of Work: This project with be a second phase apartment tower on the same block as the initial SkyHouse Charlotte project. The tower will be positioned at the corner of Church and 9th and will include an expansion of the parking structure that will serve the initial phase.

 

Well, there's the confirmation for what has been speculated all along. Nice find...

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Skyhouse Phase II is now moving forward. Description from public records -

SkyHouse Charlotte II

• Detailed Scope of Work: This project with be a second phase apartment tower on the same block as the initial SkyHouse Charlotte project. The tower will be positioned at the corner of Church and 9th and will include an expansion of the parking structure that will serve the initial phase.

What do you mean by moving forward?

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Skyhouse Phase II is now moving forward. Description from public records - 

SkyHouse Charlotte II

• Detailed Scope of Work: This project with be a second phase apartment tower on the same block as the initial SkyHouse Charlotte project. The tower will be positioned at the corner of Church and 9th and will include an expansion of the parking structure that will serve the initial phase.

I mean that's great and all, but I REALLY think we have passed the need for more apartments....maybe in 10 years we will be lucky they're all here, but WOW is the market going to be over saturated next year....or am I completely off???

 

My question is.....how many apartments does a city like Columbus or Austin have in the same radius around their downtown (uptown/south end equivalent) compared to what we will have in the next 2 years?

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Actually dumb question that just came to mind... Does this now mean that the Days Inn site is in fact being bought and demolished for Skyhouse Phase 2? 

I would think so....so would that mean the site would have one tower at the corner of 9th and Church & 10th and Church....with the parking garage in the middle??

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Actually dumb question that just came to mind... Does this now mean that the Days Inn site is in fact being bought and demolished for Skyhouse Phase 2? 

Here is the current tax bill for the City Inn Site:  http://taxbill.co.mecklenburg.nc.us/publicwebaccess/BillDetails.aspx?BillPk=9342988

I would hope that it is an L shaped building, or the folks in the 10th Street tower will not have a view.

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Here is the current tax bill for the City Inn Site:  http://taxbill.co.mecklenburg.nc.us/publicwebaccess/BillDetails.aspx?BillPk=9342988

I would hope that it is an L shaped building, or the folks in the 10th Street tower will not have a view.

Link is broken for me :/

 

Oh, and got an answer on Columbus....seems they have about 5000 units in their downtown area. This is a city with a population LARGER than ours, granted their downtown population is much smaller.....I just dont see how they can have 5000....and we have what we do now, plus the 8000 or whatever under contstruction and the 12000 proposed...

Edited by Jayvee
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I mean that's great and all, but I REALLY think we have passed the need for more apartments....maybe in 10 years we will be lucky they're all here, but WOW is the market going to be over saturated next year....or am I completely off???

 

My question is.....how many apartments does a city like Columbus or Austin have in the same radius around their downtown (uptown/south end equivalent) compared to what we will have in the next 2 years?

Clay Grubb said recently in an interview that Millenials are the second largest demographic group in the U.S. and they were overwhelmingly choosing to locate in apartments in urban areas. He said as long as they can deliver a product in urban areas with attractive rents he doesn't think we're overbuilding. He then hinted at a second Skyhouse in Charlotte.

 

As long as companies keep hiring here, recent college grads will continue to flock here. My girlfriend gets almost weekly job offers for good accounting positions here and she's been out of the workforce for school for the last two years. The recruiters have told her they can't fill jobs fast enough.

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Charlotte is urbanizing and densifying.  Maybe some of the apartments will sit empty for a period of time, but the demand will continue as long as we keep pumping 20,000 a year into the city.  I can't imagine a company like Grubb would be so ignorant as to ignore any red flags (if there are any).  I say BRING IT ON!  Build, baby, build.

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Charlotte is urbanizing and densifying.  Maybe some of the apartments will sit empty for a period of time, but the demand will continue as long as we keep pumping 20,000 a year into the city.  I can't imagine a company like Grubb would be so ignorant as to ignore any red flags (if there are any).  I say BRING IT ON!  Build, baby, build.

Oh don't get me wrong, I am ALLLLL for it....lets keep building and building, I just don't want the market to be stuck with a ton of empty units and will deter future development. If these developers are confident they can fill them all, I guess I am too.....soooo when is this second tower being built :thumbsup:

 

I will say, in this areas current state, I do see them having a VERY difficult time filling 2 towers at $1200+ a month for a one bedroom. I can see them just having the one, wait til the area isnt.....well, awful....then doing the second.

Edited by Jayvee
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Oh don't get me wrong, I am ALLLLL for it....lets keep building and building, I just don't want the market to be stuck with a ton of empty units and will deter future development. If these developers are confident they can fill them all, I guess I am too.....soooo when is this second tower being built :thumbsup:

 

I will say, in this areas current state, I do see them having a VERY difficult time filling 2 towers at $1200+ a month for a one bedroom. I can see them just having the one, wait til the area isnt.....well, awful....then doing the second.

Levine is developing this year, and a wave of revitalization will sweep through the area  :whistling:

 

In all seriousness, this will be very close to everything and affordable for the young professional, and within a couple of years there will be a light rail stop 2 blocks away. This area should see a lot of change in the next decade. (C'mon Levine)

Edited by MilZ
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Levine is developing this year, and a wave of revitalization will sweep through the area  :whistling:

 

In all seriousness, this will be very close to everything and affordable for the young professional, and within a couple of years there will be a light rail stop 2 blocks away. This area should see a lot of change in the next decade. (C'mon Levine)

I agree with that....but as of 2015 when that first tower is done, speaking as a young professional there is NO WAY I would live there in its current state. I would absolutely choose, well any other complex uptown over this one. Even just walking down to Tic Toc diner (which is SO good) the area is just, undesirable to say the least.

Edited by Jayvee
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I agree with that....but as of 2015 when that first tower is done, speaking as a young professional there is NO WAY I would live there in its current state. I would absolutely choose, well any other complex uptown over this one. Even just walking down to Tic Toc diner (which is SO good) the area is just, undesirable to say the least.

I always feel the need to chime in that I lived at the front of Tryon House from 2008-2011 and think this sentiment is WAY overblown. Yes there are a lot of homeless people, but it never seemed particularly dangerous and frankly I became very comfortable with the scene there. In the time since I moved things have improved further, and I think even just 1 full apartment tower would be enough to bring a better balance to the area let alone 2. Not to mention that 1 block away on Church St, where these buildings will have their frontages, didn't carry the same stigma even then. It's seemed like a nice area to me all along.

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I used to feel like it was just me and the Salvation Army guys walking on Central around Hawthorne. But years later, add hundreds of new apartments and the streets are much livelier now. The same could happen along North Tryon, thanks to Skyhouse 1 & 2.

Count me in the excited column to see all this happen

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