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615 South College (Portman Office Tower near Westin)


CarolinaDaydreamin

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The units in this building face either College or Brevard. Looking at the floorplans, the living room views will be out the corners of the building, looking due north, south, east or west. The northwest views, which we all agree will be the worst on the lower floors (facing the back of the Westin), will be in the 'in law suites/2nd bedroom. That is, only the secondary bedrooms will have this view, while the living rooms will face diagonally, beyond the Westin. I don't believe anyone makes a decision on a place based on the view in the secondary bedroom. However, even in that bedroom you'll still have a view when you stand at the window, as One Charlotte is still half a block away from the Westin.

True East (labeled NE) views will be of the Nascar tower, the Government District, and everything that gets built in 2nd Ward. True North (labeled NW) views will be of whatever Trump builds, the Wachovia towers, and anything else going up in 3rd Ward (Novare, etc.) that isn't blocked by the Wachovia and Trump towers. True West (labeled SW) views will be of the stadium, the foothills/mountains, the sunsets, anything that gets built off West Morehead and SouthEnd. The True South (labeled SE) views will be of SouthEnd (Arlington), Dilworth, and SouthPark's skyline in the distance.

Anyway, I still agree with the premise that a lower floor here is not as valuable as a penthouse in another building. Some people might value the exclusivity of the building over being on a lower floor. But I do believe that none of these units really has as bad a view as people are thinking.

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Anyway, I still agree with the premise that a lower floor here is not as valuable as a penthouse in another building. Some people might value the exclusivity of the building over being on a lower floor. But I do believe that none of these units really has as bad a view as people are thinking.

My thoughs and original post were more along these lines, not about the view specifically. I feel that most buying into this type of project or this type of unit will want to be as close to the top of the building as possible. It is more a matter of ego than anything else, IMO.

This being exacerbated by the availability of *top of the building* penthouses at other buildings that are comparable in price to these lower level units. Perhaps not in the very upper level of amenities, but in buildings that are still quite nice.

Again, this isn't my hope, but this IS why most towers have smaller units, efficiencies, etc, at their lower levels and the big penthouses on top. It is what buyers demand.

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Does anyone have any idea how this building is doing sales wise? I really like this building and really hope to see it built...

I wouldn't worry too much about this tower being built. It's main competition to the ultra lux end was Encore, and with its limited space and limiting height/views, One Charlotte does have something over it. I think they are still waiting for permits and sales (which I haven't heard anything about) and sooner or later the tower will be built.

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  • 2 weeks later...

Got the following email about One Charlotte:

Thank you for your interest in One Charlotte. It is my pleasure to assist you with details regarding the generously-sized floor plans, the unique amenities, and the impeccable service One Charlotte will offer its 99 residents.

Our Sales Gallery is now open in the center of Uptown Charlotte which is a showcase of finishes, model vignettes and interactive displays. Also, our website is now live at www.OneCharlotteResidences.com robust with residence plans, views and renderings of our spectacular offering.

I have availability for an initial telephone appointment on November 1st at 2:00 to discuss your needs in a residence. Let me know if that would be convenient for you.

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  • 3 weeks later...
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The slow sales are unfortunate. Architecturally, this building could really add alot to the skyline. Encore and One Charlotte are the 2 most upscale towers proposed. Supposedly Encore's sales are going much better. If I had the money and had to choose, I think I'd go with Encore. The interior car elevator and location really sold me on that one, although I would put One Charlotte's architecture a notch above (not that Encore looks too shabby itself). I think there is alot of potential around the One Charlotte site (Wachovia, possibly Trump, other vacant lots ripe for redevelopment), however there is already so much on North Tryon with the nightlife, shops, restaurants, street life, Blumenthal, arena, EpiCentre close, etc. North Tryon just seems more established at this point, but South Tryon is certainly on the rise. I really hope both are built.

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If you're looking at amenities, yes, further up Tryon has more options but the area around One Charlotte is catching up. Don't forget about the Wachovia arts complex being built and everything in the South End area. The LRT runs right through the Westin so they will have their own stop to access SE Charlotte, deeper into downtown, and perhaps by the time this building is built, NE Charlotte and North Mecklenburg. Last but certainly not least, who could forget that the Uptown Cabaret is right down the road from it . :whistling:

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  • 3 weeks later...

^ I can't say that I'm surprised. Given all the luxury condos that are going up, I didn't see the demand for it. I'm bummed though too. Definitely liked the design as well. Like you said, maybe it will make a comeback as a hotel/condo tower. Or heck, maybe an office/hotel tower. Now I truely hope Encore moves forward though. It will be a one of a kind building that only Charlotte would have.

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Yeah, well hopefully in about 3 years it will be back in action. O well. You win some, you lose some.

I feel like Encore's sales are going pretty well, as they already had a list of prospective buyers from their last project. I would say (especially now that One Charlotte is delayed) that Encore has a 90-100% chance of happening.

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Darn and I was just about to put down my deposit :rofl: It would have been an elegant addition to the skyline and may still happen. I just think it's just one level too high for our market to bear. I wonder if this delay will have any impact on the Trump plans....whatever they are.

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Darn and I was just about to put down my deposit :rofl: It would have been an elegant addition to the skyline and may still happen. I just think it's just one level too high for our market to bear. I wonder if this delay will have any impact on the Trump plans....whatever they are.

Well, it certainly clears some possible competition out of the picture. Not sure that this news is enough on its own to cause the Trumps to green light their project.

On a personal note, while I did not have high hopes for this project, I'm still really disappointed. I loved the rendering and thought this would be an absolutely awesome addition to the skyline. C'est la vie. :(

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If the long term of this project ends up getting scrapped, I sure hope it doesn't shy away Portman from building more here. His designs are recognizable and often icons. It'd be nice if he built a mix office/hotel space somewhere on N. Tryon/N.College since there is certainly more demand for that space right now... Too bad. I loved this tower and its magical crown.

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It's a shame this tower had to go. I loved the design, the extra life it would bring to South Tryon while extending the skyline and it would have had some amazing views facing north along Tryon. Oh well, something had to give. Better this than Encore. I wonder if this is a bad sign for the market or just one developer not seeing the need for this type of development just yet.

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The moment that they cancelled their kick-off sales party was the beginning of the end for this project.....99 condos of that price was too many, and they needed to capture just about everyone willing to buy in that price range.

If/when the relaunch, they need to consider that these buyers want to be wowed. Some adds in the CBJ doesn't cut it. At units priced $750 per square and up, they should have a marketing budget capable of individually targeting any possible buyer.

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I remember seeing an ad in the Wall Street Journal, in Boston. I'll see if I can dig it up.

I also saw ads in Luxury Homes, Dupot Registry, Unique Homes, Depatures, and many other super luxe magazines that I have picked up an issue of in the past year. Their national marketing scope was pretty sound actually. In everyone of them they had a fullpage ad. Its the only charlotte condo tower that I even saw in as many magazines, I believe the vue was in unique home, and 210trade was in something else national. Its a shame this tower won't come to fruition for a little while, but heres to hoping it comes to existance in some form. :alc:

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99 condos of that price was too many, and they needed to capture just about everyone willing to buy in that price range.

That was the basic problem for this project. 99 units is a lot of units to sell in any project but especially at that sales price. The article in the Observer today didn't go direct but hinted at what this might mean for the overall center city condo market. I personally don't think it says anything at all. It was ambitious, and I loved the design and would have been delighted to see it in our skyline, but there were some common-sense issues I believe.

There is a reason most developers build smaller and less expensive units on the lower levels of their buildings. Many people want higher floors and better views and they are willing to pay for it. Conversly those that might want to live in a given building but can't afford to live higher up will settle for lower level floors based on perceived affordability. In this case they were hoping to be able to sell those (presumably and based on other projects) less desirable units for the same price as a penthouse in another building. Tough sell -- I'd prefer be on top of 300 South Tryon or 210 Trade than on the bottom level or two at One Charlotte regardless of what the lobby, commons areas, and pool look like. You can try and wow buyers with other amenities, but it still goes back to the actual unit you are living in. There are too many other luxury and penthouse options (The Trust, the penthouses in any other high-rise, Encore, etc) that create too much competition for this to be able to lure 99 buyers for $1.5million +. I'd argue that they are in better locations as well.

I wonder if this is a bad sign for the market or just one developer not seeing the need for this type of development just yet.

I believe it was just this developer not hitting the mark on what the market wants or will pay for combined with competion from other luxury condo options.

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I also saw ads in Luxury Homes, Dupot Registry, Unique Homes, Depatures, and many other super luxe magazines that I have picked up an issue of in the past year. Their national marketing scope was pretty sound actually. In everyone of them they had a fullpage ad. Its the only charlotte condo tower that I even saw in as many magazines, I believe the vue was in unique home, and 210trade was in something else national. Its a shame this tower won't come to fruition for a little while, but heres to hoping it comes to existance in some form. :alc:

They also had a nice color ad in the USAirways magazines they have in the planes.

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This always seemed like one of the weakest projects, given it was a luxury tower in a rather odd place for luxury condos. It is still a shame that we are not able to bring all of our proposed tower projects to fruition, but if any of them were going to fail, this one probably has the lowest impact on the surrounding area. South Tryon will still have momentum and improvement due to the other under-construction projects. Also, the parking deck still has a development pad that can be done at any time, while still having SOMETHING there in there interim. It isn't like many other projects that, if they fail, will leave a surface parking lot or a dug out hole in their wake.

I hope this restores some buyers or remove competition for the penthouse units at all the other towers, and help give those other projects a needed boost.

Frankly, I prefer the projects that have a mixture of sub 200k units, 200-600k units, and then the more expensive units. To me, it provides a ready-made mixture of demographics and economics that I think helps makes them better for society in the long term. Not that I am opposed to some all-luxury projects, especially those like Encore, which are small scale, and need the higher values at the smaller scale to fund a project for the greater good. But One Charlotte didn't really have any of those pluses.

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