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615 South College (Portman Office Tower near Westin)

CarolinaDaydreamin

By CarolinaDaydreamin
in Charlotte

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atlrvr Metropolitan Area

atlrvr

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^ I always assumed it would be on land adjacent to the hotel, not on the office tower pad.  On a related note, that little asphalt parking lot between AT&T Plaza and the LRT is supposed to house a second Hilton tower.  

 

Are you saying this is a resurrected plan or just part of the original long term plan?  There was a meeting with the Land Use permitting department like 15 months ago around them adding a parking deck there.

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Miesian Corners City

Miesian Corners

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Are you saying this is a resurrected plan or just part of the original long term plan?  There was a meeting with the Land Use permitting department like 15 months ago around them adding a parking deck there.

Original long term plan (for the Hilton).  As for the Westin, it was just a guess.  The Westin was supposed to be 10 stories taller when it was planned with a hundred or so more rooms.  It's easy to see what it was supposed to look like, as the glass "buckle" in the middle of the building was originally exactly mid way between the bottom and top of the tower.  When they lopped off the upper floors, they didn't lower the buckle.

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  • 2 weeks later...
HopHead City

HopHead

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It still baffles me that an office tower in uptown has not gotten off the ground yet. If they started construction now, there's no reason why an anchor tenant couldn't be recruited in the 20 month period it takes for build out. BTW - When did the building become 615 South College? Or has it always had that name and the board topic just caught up?

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dcharlotte Whistle-Stop

dcharlotte

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It still baffles me that an office tower in uptown has not gotten off the ground yet. If they started construction now, there's no reason why an anchor tenant couldn't be recruited in the 20 month period it takes for build out. BTW - When did the building become 615 South College? Or has it always had that name and the board topic just caught up?

 

While there aren't many large blocks of space, a developer isn't going to go in the ground for a building this large without an anchor tenant.  Would you rather answer to three tenants in the building or three tenants per floor and try to divide up the space?  It makes sense that they haven't gotten started just yet.  I would expect them to wait another quarter before getting moving on this project, another office tower will come. 

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15895 City

15895

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While there aren't many large blocks of space, a developer isn't going to go in the ground for a building this large without an anchor tenant. Would you rather answer to three tenants in the building or three tenants per floor and try to divide up the space? It makes sense that they haven't gotten started just yet. I would expect them to wait another quarter before getting moving on this project, another office tower will come.

"another office tower will come"

You talking about crescent or still 615 when you say that? Or being in general.

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HopHead City

HopHead

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While there aren't many large blocks of space, a developer isn't going to go in the ground for a building this large without an anchor tenant.  Would you rather answer to three tenants in the building or three tenants per floor and try to divide up the space?  It makes sense that they haven't gotten started just yet.  I would expect them to wait another quarter before getting moving on this project, another office tower will come. 

 

I understand your point, but most prospective tenants don't want to wait nearly 2 years to move into a space. They want it now or not in the too distant future. One of the reasons why Ballantyne has landed several large corporate relocations, instead of uptown, is because they had the space already built out or close to being built out. 

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dcharlotte Whistle-Stop

dcharlotte

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The fundamentals are in place within Uptown. 2013 was the year that many companies with larger spaces worked through their shadow space, some larger leases rolled as the banks sold and 'right sized' their spaces, and Uptown actually saw negative absorption for the year (about 100K SF total).  In 2014 we will see demand for about 2000K SF, 2015 will be about 400K SF of demand of office space. More space has to be built. 


I understand your point, but most prospective tenants don't want to wait nearly 2 years to move into a space. They want it now or not in the too distant future. One of the reasons why Ballantyne has landed several large corporate relocations, instead of uptown, is because they had the space already built out or close to being built out. 

 

Yes and no.  If you're in 100K SF of space and with a large company you're starting the process of looking for space well before a year out.  Delay it another 6 months and you can have new space.  It is true that some companies look to uproot and move, but most times that has been in the works for some time and they are near the end of their lease in their current location.  Many of the companies we see moving to Charlotte are coming from cities where they don't have a prayer of being able to sublet their space.

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  • 7 months later...
atlrvr Metropolitan Area

atlrvr

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Land Use meeting on this was scheduled yesterday with the updated description referring to it as an 16 story addition at 370k sf of office space.  So essentially they added 1 floor to the original proposal.  Hopefully this is a sign they have a tenant lined up.

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ah59396 Town

ah59396

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Land Use meeting on this was scheduled yesterday with the updated description referring to it as an 16 story addition at 370k sf of office space. So essentially they added 1 floor to the original proposal. Hopefully this is a sign they have a tenant lined up.

Very encouraging news!! I was getting worried about this one.

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cltbwimob Burg

cltbwimob

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Very encouraging news!! I was getting worried about this one.

I was hoping this one would die for two reasons:

1. It looks like the design is an architectural ode to a refrigerator.

2. I fear that this one along with 300 South Tryon will put the kibosh on Crescent's tower for a long time perhaps forever. Crescent's tower would be a signature tower unlike Portman, which looks more like a 2014 neo-brutalist building that will, 30 years from now, conjure up questions such as "what the hell were we thinking?"

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nonillogical Burg

nonillogical

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I was hoping this one would die for two reasons:

1. It looks like the design is an architectural ode to a refrigerator.

2. I fear that this one along with 300 South Tryon will put the kibosh on Crescent's tower for a long time perhaps forever. Crescent's tower would be a signature tower unlike Portman, which looks more like a 2014 neo-brutalist building that will, 30 years from now, conjure up questions such as "what the hell were we thinking?"

While I absolutely agree from the standpoint of potentially delaying Crescent, come on, its completely unoffensive looking. The last rendering was a significant improvement, but I think we are all still remembering that first rendering a bit.  

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ah59396 Town

ah59396

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I'm very glad Portman could be moving forward. If Crescent missed the boat, they missed the boat.

This latest version of 300 South Tryon was worth it IMO. Maybe not the base but being an office tower was better.

This.

Plus, if a 16 story box takes down a project like Crescent, it wasn't going to happen anyways.

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HopHead City

HopHead

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I don't love the design. But it's essentially a ~22 story building if you include the parking deck/podium it will sit on. Good infill and will add some feet on the street.. Doubt it has too much impact on Crescent. I still think that thing breaks ground next year.

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15895 City

15895

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I don't love the design. But it's essentially a ~22 story building if you include the parking deck/podium it will sit on. Good infill and will add some feet on the street.. Doubt it has too much impact on Crescent. I still think that thing breaks ground next year.

Breaking ground is a fairly bold statement that I would only make if there were an anchor in serious negotiations with Crescent which RDF has hinted at a couple months ago.

It would be astonishing if all 3 were to break ground, holy cow. If all three did come under construction I have 2 words.... Retail.... & hotels....

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Guest

Guest

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Breaking ground is a fairly bold statement that I would only make if there were an anchor in serious negotiations with Crescent which RDF has hinted at a couple months ago.

It would be astonishing if all 3 were to break ground, holy cow. If all three did come under construction I have 2 words.... Retail.... & hotels....

I actually think 4th Qtr 2015, 1st Qtr 2016 for Crescent groundbreaking

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  • 4 weeks later...
navigator319 Burg

navigator319

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New design and June date!! It is also now 19 floors.

 

Project: 615 South College

Use: Office high-rise adjacent Westin Uptown

Size: 19 stories

Location: 615 S College atop existing Westin parking deck

Developer: Portman Holdings

Architect: John Portman and Associates

Status: In Land-Use pre-submittal, with proposed groundbreaking June 2015 (as of Oct 2014)

Commencement/Completion: 2Q 2015 / 4Q 2016

Renderings:

 

 

http://www.bizjournals.com/charlotte/blog/real_estate/2014/10/portman-holdings-plans-to-start-construction-on.html

 

post-28621-0-57036800-1414523433_thumb.j

post-28621-0-62890500-1414523449_thumb.j

post-28621-0-22566900-1414523458_thumb.j

post-28621-0-22136500-1414523473_thumb.j

post-28621-0-99941600-1414523398_thumb.j

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CLTProductions City

CLTProductions

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I really like the new design. Looks 1000% better than the other renderings.

Agreed, looks way way way better. I love the cut outs and the top. That's smart of them to plan construction regard less of the tenant being lined up. Do you think that helps them market it? Giving potential tenants a definite timeline....

 

Should have kept reading "We've had good activity," he says, adding that having a start date for the project will help with marketing the building to prospects. "I think being able to communicate that helps, especially on the corporate-relocation side."

 

Must ask the question here....with it being 19 floors on top of the parking deck, about how many ft tall will this be?

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