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From that link, the rest of the paragraph helps...

If they are not completed, the facades on the northern and southern sides must be painted to match the finished facades on the western and eastern portions of the deck. Also, protective yard plantings must be installed along the site

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From the council agenda today:

20.4 331 South Wilmington and Blount Streets (Blount Street Parking Deck)

A request has been received from Highwoods Properties to encroach on City right-of-way for the purpose of installing various encroachments. A report is in the agenda packet.

Recommendation:

Approve the encroachment subject to conditions in the administrative report.

The building permit review is ongoing, but we should see some construction fairly soon. I doubt much review time will be necessary for the parking deck/small retail facade.

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From the council agenda today:

20.4 331 South Wilmington and Blount Streets (Blount Street Parking Deck)

A request has been received from Highwoods Properties to encroach on City right-of-way for the purpose of installing various encroachments. A report is in the agenda packet.

Recommendation:

Approve the encroachment subject to conditions in the administrative report.

The building permit review is ongoing, but we should see some construction fairly soon. I doubt much review time will be necessary for the parking deck/small retail facade.

Thank you for keeping us upated!!! :)

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  • 1 month later...

The parking deck is moving forward separate from the two proposed buildings though its design was altered to conform with the Edison plan. I am thinking the parking deck could be operational well before the two buildings get very far along.

I believe there will be a 6 month gap between the completion of the deck and the start of construction on the towers.

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Vitaviatic

The only reason BofA is still headquartered in Charlotte is because of Hugh McColl. He is a good ol' boy, and he doesn't care too much for San Francisco or California. But I would bet at least half the farm that when he goes, the bank goes back to San Francisco. At least the CEO and the boardroom. Sure, they'll keep plenty of backoffice operations in Charlotte. There's no reason not to. But the executive corps will return to California post haste. And it has nothing to do with Charlotte.

I can tell you that BOA HQ is going no where anytime soon.

I know some people who work for BOA and they have problems in San Francisco finding places for people to live.

BOA is now building a new 32 story Office building with a Ritz-Carlton behind their HQ. Lewis of BOA says it will make it harder for BOA HQ to leave Charlotte.

BOA has big present all over the US Boston, New York, Dallas, San Francisco, and soon Chicago.

The high cost of New York and San Francisco for living and doing business is one reason BOA is still in Charlotte.

And you will lose your farm.

Edited by RiverwoodCLT
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  • 1 month later...

From what I have heard from inside sources its still in the designing phase, which is why we haven't heard anything lately.

I wonder if they are deciding to "design" down, given the downturn in the housing market. I'm thinking that the timing of this is not the best. Hopefully the developers have deep pockets and a good long range vision?

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I wonder if they are deciding to "design" down, given the downturn in the housing market. I'm thinking that the timing of this is not the best. Hopefully the developers have deep pockets and a good long range vision?

Sandreuter would hate to have to do that since he had to reduce the size of Dawson from 15 to 5.

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IMO, the best way to "design down" is to reduce the amount of SF for each unit.

If designed well, with efficient storage in the closets, laundry and takes advantage of other spaces off the floor & in out of the way areas within each room, a couple could easily live in less than 1500SF, and less than 1000SF for singles. It's more of a challenge for families & single parents than childless couples or single folks, but what's the statistic for couples with kids who live in high rise condos in Raleigh?

The average hotel room is roughly 300SF. That's ample for a comfortable week's stay. When was the last time you were in a hotel room and said, "this is too small!"?

It's a vicious cycle we get into: we get more SF, which means we get more things to fill the SF with, which means we need more SF, etc etc. It costs more to heat & cool and to clean more SF.

Sentimental attachment to things is one thing - like a family heirloom, or a collection to display. But endless clutter of stuff that gets used once a year (if that) can be donated (books? clothes?) and free up room (or downsize) for things that get used much more frequently. If you don't use it, why have it?

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Sandreuter would hate to have to do that since he had to reduce the size of Dawson from 15 to 5.

Ahh! But the point is they "did" reduce the Dawson! And even though it's not the same developer, the same happened to the "Hillsbourgh". I am sure they don't want to reduce because they won't make as much money. But the market is, I belief, only going to get worse for at least 6 months IMHO! Luckily this project isn't really due to be completed until 2012 or further if necessary.

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You guys are tripping, sure the market could get worse, and it's a real bet it will, and yes the project could be scaled down, but it's way to early for us to invision him doing that. The project won't even start construction til about 2010, correct me if I'm wrong, also he surly will have several versions of this plan for whatever the market conditions are at that time he considers moving dirt. lets keep are fingers crossed that this project is not scaled down. ^_^

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Ahh! But the point is they "did" reduce the Dawson! And even though it's not the same developer, the same happened to the "Hillsbourgh". I am sure they don't want to reduce because they won't make as much money. But the market is, I belief, only going to get worse for at least 6 months IMHO! Luckily this project isn't really due to be completed until 2012 or further if necessary.

I am pretty sure it is the same developer (help Jojo). I do know the Dawson pushed forward even as the dotcom bubble burst and buying power went down. It turned out that when units were delivered, the economy was starting to improve. An internal adustmetn was made by carving some of the larger units into smaller units...something all of us could have told the developer was needed without any "market research" money being spent.

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Ahh! But the point is they "did" reduce the Dawson! And even though it's not the same developer, the same happened to the "Hillsbourgh". I am sure they don't want to reduce because they won't make as much money. But the market is, I belief, only going to get worse for at least 6 months IMHO! Luckily this project isn't really due to be completed until 2012 or further if necessary.

I'm not so sure market downturn is a risk right now in Raleigh. The city has one of the strongest housing markets in the country. It doesn't appear that we should be gauging a hypothetical reaction to a continuing market downturn until we experience symptoms of an actual downturn.

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I'm not so sure market downturn is a risk right now in Raleigh. The city has one of the strongest housing markets in the country. It doesn't appear that we should be gauging a hypothetical reaction to a continuing market downturn until we experience symptoms of an actual downturn.

Agreed. Its too early to react on that stuff. I also have an update....by still being in the "designing stage," my inside source meant the building itself is still being finalized for design and the building at this point has NOT been downsized.

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Given how many projects are going on downtown, there really isn't anything to be gained by hurrying to start construction, is there? If you wait 6 months, then the Convention Center, West at North, the other project on Glenwood by 518 West, and a pretty good chunk of the RBC tower will be finished, dumping all those construction tradespeople onto the market looking for new jobs...

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I'm not so sure market downturn is a risk right now in Raleigh. The city has one of the strongest housing markets in the country. It doesn't appear that we should be gauging a hypothetical reaction to a continuing market downturn until we experience symptoms of an actual downturn.

I agree. So far the only possible symptom of a downturn has been 712 Tucker changing to apartments. But that may have more to do with an improving apartment market than a weakening downtown condo market. When Reynolds/Hillsborough downsized, it was the office space being removed, not the residential. Plus, I think the best comparable for the style of units that Edison will have is RBC, and things seem to be going smoothly for that project, sales-wise.

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