Belk Place: Carolina Theater and Hotel Intercontinental

[Andyc545]

What the O also released was a second website for the project specifically for the 5 penthouse units. Apparently they each have their own theme and appeal to the high end buyer: the art gallery, cosmopolitan, tech, wine enthusiast, and master cook themes.

http://www.encore5charlotte.com/

[DCMetroRaleigh]

I love this project. I am stoked about the possiblity that it may be under construction by next month.

[BUILDIT]

the materials on this project are going to be beyond awesome for charlotte

[dubone]

Is that just an expectation, or do you have information?

I love the design of the building, and I really want to see it happen, especially given the string of bad news.

Can any of you permit sleuths update us on whether they are still moving forward there?

[BUILDIT]

I know a little bit. And count on this one happening.

[dubone]

Thanks for sharing then.

I guess I sort of assumed that the materials would be solid considering the target market of the project, but it is a welcome change after seeing all the styrofoam snow on every sidewalk downtown for the last few months.

[atlrvr]

Per next weeks CBJ, the developer of Encore says he expects to break ground in 60 days.

[rockhilljames]

Wow.

Just amazing. I'm really looking forward to going to shows in the refurbished Carolina Theater. I hope it becomes our version of Atlanta's Fox!

[uptownliving]

On the City Council agenda for Monday is an option to extend the Closing date for the Encore Developers to October 31, 2008. The good news out of this delay is that the developer has agreed on terms for finanacing with a bank and feels they can close on the property by late October.

[dubone]

That is good news. They pretty much are giving themselves 90 days to close, which seems reasonable. This project is one of the couple projects downtown that I would be very upset if it failed. The saga of trying to save the Carolina Theatre has been so longstanding, and we've come so close. Beyond that, I am really impressed by the architecture, and the unique (for our area) parking solution. Also, it is good to have some high dollar places to help bring up our numbers for retail.

If Donnelly can pull this off despite the difficult economy, then that is a huge relief.

[dubone]

Per next weeks CBJ, the developer of Encore says he expects to break ground in 60 days.

Not to be too critical or exact, because we all know the market for financing is rough right now, but 60 days is now up and no sign of anything. Are you permit sleuths able to see any progress there that might indicate construction as imminent?

[BUILDIT]

time... just give it some time.

[mad_park]

With the whole "Green" trend we are seeing nowadays how marketable is a place with a cargo elevator for your car? How much power is it going to take to hoist a 3,000lb vehicle up to a 12th floor unit?

If one of the selling points of living downtown is that you don't really need a car, why make a a private elevator for your car one of the selling points for a place that is right smack on trade street?

[BUILDIT]

let me know when you can live in charlotte without a car...

as far as the green comment, i laughed...

[nonillogical]

i wouldn't expect a luxury tower with 20 units to be all about practicality or eco-consciousness

[Andyc545]

i wouldn't expect a luxury tower with 20 units to be all about practicality or eco-consciousness

It's been talked about before; the point isn't for someone to use it as a garage where every day they get in the elevator and drive to work. Likely people living here are people walking to work or not here full time. When you have 5 million to plop on a unit, you likely have a corresponding vehicle that you use for pleasure once in a while and want to protect. The garages are a luxury and a means for safe storage of their expensive toys. If it wasn't for the garages and the car elevator, this building would be nothing more than expensive condos and therefor less attractive and less unique, probably making this project (which was in a difficult location that most developers didn't want to touch) not make it, at least in this housing market so we should be thankful that something is even being built. It was said before the unique projects are what will survive.

Edited September 14, 2008 by Andyc545

[Charlotte_native]

Not to be too critical or exact, because we all know the market for financing is rough right now, but 60 days is now up and no sign of anything. Are you permit sleuths able to see any progress there that might indicate construction as imminent?

I wonder if they are having to get The Trust completed before starting something new. Units there are being delivered very late (was supposed to be finished early Spring 08) from the dates they initially announced. Most of that building is still not finished and progress seems to move at a snails pace. Encore is even larger and more complicated...

[atlrvr]

As far as building permits go....they also seemed to be having separation of use issues, and they have not reapplied in about 4 months or so....that said, I don't sense that the project is dead, and that they are working toward resolution while still trying to sell 1-2 more units.

[cltheel.sdl]

Any word on this project? I would think it will be a tough sell considering the economy and Wachovia's troubles.

[voyager12]

So has anyone heard lately if there will there be an encore at a later date or is the show cancelled?

[Andyc545]

So has anyone heard lately if there will there be an encore at a later date or is the show cancelled?

If I'm not mistaken, they took down the fencing that blocked street activity from entering the site. I am getting a hunch that this project has been delayed, hopefully not canceled.

[voyager12]

With the financial downturn even those that can afford car elevators are pulling back. Bad timing. The project is a nice combination of residential and arts renewal and I hope it moves forward eventually.

[Charlotte_native]

From all I've heard from sources very close to the project, it is happening but there will be some delay. The Pursuit Group who is doing it is still in the midst of finishing The Trust and just purchased the old Church on College Street (or is it Brevard?) and are finishing it for event space. For a relatively small company they have a good bit going on, so a delay in this economy for this particular project isn't surprising.

[Spartan]

From all I've heard from sources very close to the project, it is happening but there will be some delay. The Pursuit Group who is doing it is still in the midst of finishing The Trust and just purchased the old Church on College Street (or is it Brevard?) and are finishing it for event space. For a relatively small company they have a good bit going on, so a delay in this economy for this particular project isn't surprising.

The derelict church over on Church & 10th?

[Guest]

The derelict church over on Church & 10th?

I think he is talking about the church on Brevard and 3rd

http://maps.live.com/default.aspx?v=2&...C&encType=1