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SkyHouse Charlotte, Publix and Hotel/Condo Tower in 4th Ward

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1 hour ago, navigator319 said:

At least the rents won’t increase? emoji2373.png

Not good.

a8c0ce8dfc4645290d12de60f0888b13.jpg

IDK which tower this was in, but I am just waiting for the day that South and North tower are bought by different owners (read: South has far better finishes/gym, North also has the 21st floor contracted to Lyric hospitality - aka: corporately-run AirBnB)

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WSOC reports murder victim in Skyhouse not resident suspected drugs involvement and some witnesses are not talking.

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42 minutes ago, KJHburg said:

WSOC reports murder victim in Skyhouse not resident suspected drugs involvement and some witnesses are not talking.

Shocked, SHOCKED!

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Not to stray into rumors and speculation, but a coworker of mine lives in Skyhouse, unsure of which tower. He actually moved in after I told him I was looking for an apartment there, however I decided against it for unrelated reasons. He's expressed to me that he intends to move out upon his lease expiring despite the inconvenience due to a variety of reasons, but primarily the residents it attracts. Per his words, he grew up in a rough area and the people living there remind him of that, take from that what you will. I imagine a lot of the units are being rented via dirty money and I'm curious as to why. My best guess would be that Skyhouse is one of Uptown's cheaper options, and the least expensive high rise in the city, yet it has many of the "luxuries" that other towers include, and some that they don't, including rooftop pools and penthouse level entertaining suites, covered parking with amenities on top, concierge, the whole lot, but for considerably less. For this reason, the clientele are usually those who might be stretching their budget thin by living there, and those are usually the type to like to show off the wealth, or perceived wealth, they have. Often these types of people are involved with the wrong crowd, and as we saw here, things can boil over. 

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What I get from this report is this is a drug deal gone bad with a resident of the Skyhouse or maybe guest of someone and the victim was not a resident.    Tragically most murders in Charlotte are from people you know,  drug or other illegal activities , domestic family problems, and just a small percentage are random very small percentage. 

https://www.wsoctv.com/news/local/man-found-shot-to-death-inside-uptown-high-rise-apartment-complex/1006750747

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On 11/8/2019 at 2:28 PM, ricky_davis_fan_21 said:


They are using an extremely outdated rendering.
It’s 10ish floors office + 12-15 hotel above Publix and parking.


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So back on topic, 22-25 floors? That would be great for that side. 

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I need to say, in defense of Skyhouse as a building(s), at least in my experiences they are really nicely designed buildings in the ways that people appreciate: engineered hardwoods (not processed/vinyl/laminate), true floor-to-ceiling windows in every single room, rooftop amenities (which many high rises still have not done), a legit HUGE dog park and ground floor retail!
But every time I meet a former employee they are always glad to be out of there. I feel like their downfall has been in not enforcing AirBnB'ing. I have met SO many people that have complained about a daily/weekly revolving door of neighboring tenants, and the fact that they abuse the amenity areas. They  say management never seems to evict the leaseholders - I think they are afraid of occupancy (hardly ever has Skyhouse crested 90%, widely considered the bare minimum of acceptable occupancy).
And the thing is, everything said about Skyhouse being the cheapest uptown high rise for people to still have all of the high rise perks is ALSO true about Catalyst (except everything of theirs is even older), yet Catalyst stays fully occupied with no exceptional issues aside from the youthful rambunctiousness of it's residents. I think it comes down to the AirBnB issue, period. 
Sad, too, because I think Skyhouse will eventually shift to be one of the better options in Uptown due to location and amenities, if only they don't burn themselves to the ground first.
But also, the South Tower is twice as nice as North.


Catalyst is a Wells Fargo contract employee dormitory though.


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21 hours ago, nakers2 said:

Not to stray into rumors and speculation, but a coworker of mine lives in Skyhouse, unsure of which tower. He actually moved in after I told him I was looking for an apartment there, however I decided against it for unrelated reasons. He's expressed to me that he intends to move out upon his lease expiring despite the inconvenience due to a variety of reasons, but primarily the residents it attracts. Per his words, he grew up in a rough area and the people living there remind him of that, take from that what you will. I imagine a lot of the units are being rented via dirty money and I'm curious as to why. My best guess would be that Skyhouse is one of Uptown's cheaper options, and the least expensive high rise in the city, yet it has many of the "luxuries" that other towers include, and some that they don't, including rooftop pools and penthouse level entertaining suites, covered parking with amenities on top, concierge, the whole lot, but for considerably less. For this reason, the clientele are usually those who might be stretching their budget thin by living there, and those are usually the type to like to show off the wealth, or perceived wealth, they have. Often these types of people are involved with the wrong crowd, and as we saw here, things can boil over. 

My guess is that it's performing very poorly and they have to reach on background checks to keep the place (sort of) full

 

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4 hours ago, KJHburg said:

As an Airbnb host in Hilton Head Airbnb is always telling me to drop my rates or this many people looked at your place and booked X dollars cheaper elsewhere.  They don't understand I will not give my place away or having every night booked is something I want to do.   They are all about maximizing revenue so they can make their cut so the race to bottom in prices is what they encourage!    Does not surprise me their rates uptown at a place like the Skyhouse would be low. If you use their vaulted Price Tips  they will drop the prices for you automatically to get bookings.  

Result:  a high rise Motel 6  (and I have stayed at some of these over the years and lower you go the more problems you will have)  

It works the same way with Multifamily in general; generally if you want to increase occupancy, raise rates (though obviously there are many other factors, as well)

It all started with the Novare original owners, I think CBRE has just gone along with the current in that way.

 

Edited by SgtCampsalot

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