Belk Place: Carolina Theater and Hotel Intercontinental

[cha]

Yes they should be filled with concrete.  They look like CFST columns.  My guess is because these column types can typically support a larger open floor area than a typical reinforced concrete column or just steel.  They're used mainly in in high-rises, transit construction or seismic prone areas.

Edited September 25, 2020 by cha

[DMann]

Thanks!

[QCxpat]

Today 10:15 a.m.

Edited September 30, 2020 by QCxpat

[KJHburg]

walk bys today and progress since the last time I saw it a couple of weeks ago.  

 

[san]

On 10/4/2020 at 5:20 PM, KJHburg said:

walk bys today and progress since the last time I saw it a couple of weeks ago.  

Oh yeah that's hot

Glad to see more visible progress, here's to hoping more will get done by the end of the year.

[Richhamleigh, DC]

This is a complicated site in complicated times.  Charlotte is a city of 1 million people.  Intercontinental Hotels, if they survive, wants to be in a city like Charlotte.  

[QCxpat]

Today 11:15 a.m.

Edited October 13, 2020 by QCxpat

[CLT @❤️]

Construction workers on site today confirmed that this Project (the hotel portion) is going vertical. 

[CLT @❤️]

A ton of activity with a dozen or more workers on site this afternoon. 

[Blue_Devil]

13 minutes ago, CLT @ said:

Construction workers on site today confirmed that this Project (the hotel portion) is going vertical. 

I am not sure driveway pavers know if a project is going vertical/s 

[CLT @❤️]

Didn't speak with a driveway paver, spoke with a construction foreman. 

[Urban Cowboy]

The staging site has expanded and now takes up 2 of the 3 lanes on 6th!

[CLT Development]

On 10/13/2020 at 2:42 PM, CLT @ said:

Construction workers on site today confirmed that this Project (the hotel portion) is going vertical. 

1st Qtr 2022 is around when the tower will pick back up. The project is leveraged toward an air right sale making it viable, a hotel will be built, just won't be this year or next.

Edited October 24, 2020 by The Real Clayton

[Tyrone Wiggum]

On 10/13/2020 at 2:57 PM, Blue_Devil said:

I am not sure driveway pavers know if a project is going vertical/s 

Wow that is a callback!

/I loled.

[QCxpat]

Today 11:50 a.m.

Edited October 27, 2020 by QCxpat

[Norm2]

Since the hotel portion of this project is on hold, how tall with this be before they stop construction, or are they still building the whole tower?

[atlrvr]

I might be wrong, but I think a fundamental misconception on this project is they "stopped" building the tower.  I believe what was built was the elevator core for the theatre and FOTC office space.  The hotel would "begin" after buildable air rights are delivered.

[Yo Diaz!]

An air right sale? Just making sure I understand it all. The plan for many years has been a 420’ tower, which they started construction on finally at the end of 2018 (I think) and are above ground now with both a concrete core and a steel frame now being erected but they don’t have air rights secured yet? They are going to build up to encapsulate the 5 or 6 story concrete core and stop? Then pick back up again in 2022? (Although, the speed this project has been going maybe it’s perfectly paced and work won’t stop at all, hahaha! ;-)
Does this happen often - tower construction without air rights ?
How are some coming by their construction progress timetable/info for this tower?
(The beer bug put a damper on several hotels to be built. Is it really an air right thing or is it more to do with pacing based on how the bug phases out or not?)


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[atlrvr]

I mean, you don't actually buy the air rights until the supporting structure is there.  I believe a letter of intent to purchase would be in place.

If I'm the hotel developer, I'm not paying you $5mm today for the air rights (or maybe it's an air rights lease say $200k per year for 99 years? ) and just hope you build the theatre/my hotel base.

 

[Yo Diaz!]

I mean, you don't actually buy the air rights until the supporting structure is there.  I believe a letter of intent to purchase would be in place.
If I'm the hotel developer, I'm not paying you $5mm today for the air rights (or maybe it's an air rights lease say $200k per year for 99 years? ) and just hope you build the theatre/my hotel base.
 

Gotcha. So the tower needs air rights because it will cantilever over the theater, correct?
Which is where they stopped with the concrete core.
I had assumed that the theater and the tower were by the same owners/developers so that air rights wouldn’t be a thing here. It seems not.


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[CLT Development]

26 minutes ago, Yo Diaz! said:

Gotcha. So the tower needs air rights because it will cantilever over the theater, correct?
Which is where they stopped with the concrete core.
I had assumed that the theater and the tower were by the same owners/developers so that air rights wouldn’t be a thing here. It seems not.


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It'll need air rights because one entity is developing the base and theatre (Foundation of the Carolinas), and separate entity is developing the hotel tower. This is how it worked with Museum Tower, and eventually AC Hotel (210 trade). Another recent example will be Vantage, Spectrum built a parking deck, and will sell the development/air rights to a hotel developer, who will uncap the elevators and proceed forward with a hotel.

 

1 hour ago, Yo Diaz! said:

An air right sale? Just making sure I understand it all. The plan for many years has been a 420’ tower, which they started construction on finally at the end of 2018 (I think) and are above ground now with both a concrete core and a steel frame now being erected but they don’t have air rights secured yet? They are going to build up to encapsulate the 5 or 6 story concrete core and stop? Then pick back up again in 2022? (Although, the speed this project has been going maybe it’s perfectly paced and work won’t stop at all, hahaha! ;-)
Does this happen often - tower construction without air rights ?
How are some coming by their construction progress timetable/info for this tower?
(The beer bug put a damper on several hotels to be built. Is it really an air right thing or is it more to do with pacing based on how the bug phases out or not?)


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The Timetable has not been normal. There has been lots of issues that have delayed the project, whether it be personnel or complexity of the scope, not sure. A postage stamp sized 420' tower, attached to a 100 year old building, that needed a foundation that could hold the building without damaging the theatre is not something I'd like to attempt.

Edited October 28, 2020 by The Real Clayton

[Yo Diaz!]

Thanks for the clarity on the air rights and the separate entities on this Theater/Hotel project. I had assumed there was only one.

Oh yes. I get the timetable for this project not being normal,up, down, and all around. It’s a project I’m looking forward to being completed, but I’m not in a rush or frustrated with it. I understand a lot of the challenges for remodeling the theater and the small site for the tower.


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[JHart]

They had to redesign the entire supporting structure of the hotel after the crazy amount of groundwater was found a few years ago. The entire redesign was done around March of this year, at this point it is a financing issue that is keeping the hotel back. The developer has been trying to stay solvent, they are highly leveraged in the hotel market

[DMann]

The CFST should start to be filled with concrete in the next week - 10 days.

[QCxpat]

Today 10:30 a.m.