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4agreatcity

Ghazi Project at South Tryon and East Morehead

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While technically outside the loop, the observer is reporting that Ghazi has contracted to buy the land at Tryon, College and Morehead for mixed use. No details or specifics yet.

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Holy %*&@. When will the madness end?

I assume they are referring to the site of the former Lafayette Jewelers, which was rumored for development about 2 years ago, but the developer never closed on the land. It's a great location, my only concern is how they do the curb cuts for parking, as the intersections of Morehead/Tryon and Morehead/College get very congested. I would prefer a right-in, right-out off of college, but with the city scrapping the pedestrian component of the LRT bridge, it will make it even more dangerous for people to walk across the College St. bridge.

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I had heard about this, but I thought this was still really early in negotiation. Hmmm....

ANOTHER announcement for S.Tryon.

Something is definitely up.

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Amazing. We might have to name part of town Ghazi City...

I'm glad to see more coming on all sides of 277

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I'm glad to see more coming on all sides of 277

I agree 277 seems to cut off all of the citys urbanness as soon as you cross it, I can see dilworth becoming a place for less expensive office space in 5-10 story buildings in 10, 15 years

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I'm glad to see more highrise action proposed outside of Uptown proper.

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Amazing, simply amazing.

This is definitely good news, as the skyline will now spread south continuously into South End.

Charlotte 2012 will certainly be a sight to see.

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I park across the street from this and walk by it every day. I'm a little perplexed on how big this particular project would be - given such a small parcel. That is certainly a busy intersection.

Not to mention one of Charlotte's finest is RIGHT across the street! Hellloooooo ladies!

Anyway, traffic would also be an interesting factor. What happens to all of the Gold Rush riders who wait for the trolley at that parking lot?

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I park across the street from this and walk by it every day. I'm a little perplexed on how big this particular project would be - given such a small parcel. That is certainly a busy intersection.

Not to mention one of Charlotte's finest is RIGHT across the street! Hellloooooo ladies!

Anyway, traffic would also be an interesting factor. What happens to all of the Gold Rush riders who wait for the trolley at that parking lot?

Living next to a strip club...umm I wouldn't know what to say.

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Well, this might just be a modest sized project, right? It may not be a megaproject like we're accustomed to seeing lately. I have a feeling that the issues of transit stops, freeways, strip clubs, and parcel size can all be worked out.

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I agree, I have a feeling this won't be much of a tower if one at all. I can see something between Arlington and the Park's height going there. We'd be lucky if we even get that much on this location.

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...I don't know guys, take a close look at what Ghazi said in the article, and what he said about the land itself. I think we'll see not only a mid-rise to large tower (in the 30 story area) of condos, and a bigger pedestrian oriented shopping block. I know it's a small parcel, but I think you'll see a pedestrian bridge connected to the Trump project and a request for changes in the street grid. I'm thinking of shopping on top of a parking structure that tiers down to a street level entrance off Morehead.

Morehead is developing it's own little canyon just outside the loop.

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Just as the article says, though, I think Ghazi's project is contingent on what and how much Trump does with his project. I think if Trump goes all out with a 70 story tower with condo, hotel, office, etc. Ghazi will take a more conservative approach to the site on Morehead and probably only build in the 5 to 15 story range. On the other hand, if Trump's plans were to fall through, or maybe Trump decides to only do condos and a hotel, Ghazi might be more inclined to build higher to meet needs in other areas of development.

My biggest hope for these two projects is that they can work together in some form or fashion to improve retail and connectivity between Uptown and South Blvd. I am hoping to see a more high end retail district that would tie the new Wachovia arts facilities past Trump's tower and into the Ghazi/South End area. A mini Magnificent Mile, if you will.

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all these announcements - strengthen the desire to cap 2-77. realistically, i don't think that we'll see that... but, if ever there were momentum....

*1000 posts, i thought it would never happen.

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all these announcements - strengthen the desire to cap 2-77. realistically, i don't think that we'll see that... but, if ever there were momentum....

*1000 posts, i thought it would never happen.

I 100% agree. The city needs to examine that option and see if they can cap the 1-block section between Tryon and College. Possibly a synthetic-TIF with the Ghazi and Trump projects to cover the cost. If I had to guess a cost, I bet the cap for that one block would be about $30M. The s-TIF could realistically cover at least half of that. If it's going to happen before 2030 (when the long range plan calls for it) it needs to happen now.

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I wouldn't be surprised if Ghazi proposes that once he announces his project. He did mention wanting to be a connection/gateway to downtown and said that this was the only site where the topography worked....hmmmm......

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If you could build retail on this cap, would that revenue offset construction costs?

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I 100% agree. The city needs to examine that option and see if they can cap the 1-block section between Tryon and College. Possibly a synthetic-TIF with the Ghazi and Trump projects to cover the cost. If I had to guess a cost, I bet the cap for that one block would be about $30M. The s-TIF could realistically cover at least half of that. If it's going to happen before 2030 (when the long range plan calls for it) it needs to happen now.

Can you tell me more about "synthetic-TIF"? What would that look like and how would it be implemented? Thx

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A synthetic-TIF is essentially the same as a TIF (Tax Increment Financing) except it has more flexibility in regards to income source and what it can be allocated for, it also doesn't require state approval to be implemented.

Essentially, the city and county would agree to allocate a certain portion of the property taxes generated by the new construction (the net new revenues over current taxes on the property) and apply them to cover the cost of issuing a bond for a public project. In this case, a portion of the property taxes from the new towers would help finance a new park built on top of 277. Other tax revenues (such as retail sales tax and hotel tax) could in theory be uses in a s-TIF.

I just ran some preliminary numbers through my head, and I think that these two projects combined might create enough revnue to fully cover a new 277 "cap" w/ park.

EDIT. Pam Syfert, Bobbie Shields, Tom Flynn, Jim Humphries, Debra Campbell...THINK ABOUT IT!!!

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Atlrvr, is this what they're doing with the Wachovia project? I know some tax money there is going to fund the Arts project.

This would be amazing and could lead to some incredibly dense residential along Morehead and South Blvd if you could create a park walking/biking connector to uptown. I hope Ghazi is dreaming big.

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Atlrvr, is this what they're doing with the Wachovia project? I know some tax money there is going to fund the Arts project.

Yep...it's exactly what they are doing, with the revenue going towards the museum costs.

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Wasn't sure where to post this, but since the proposed Ghazi tower would be linked to the park - if it is ever built - I thought I would post it here.

I noticed last week that there was some drilling going on in the parking lot behind the LaFayette Jewler's building. I'm guessing that they were doing the soil sampling thing like they were doing for the Trump site.

Does anyone know about the building in general? I had heard that it was supposed to be listed on the historical building list. Would they possibly move it to another location? Kind of like they did with the Ratcliffe Flower shop uptown?

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I moved this post here, as it is specific to the Ghazi project on that site rather than the potential cap park.

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I can't imagine there is anything historic about that building as it looks like it was built recently (last 20 years), or at least completely reclad in that time frame.

Are you perhaps referring the building on the Trump block? Even though that building was beotchized, I think its at least on the local historic list.

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