Belk Place: Carolina Theater and Hotel Intercontinental

[Southernyank]

Although not condo's, car lofts aren't a new idea. I am aware of a project in Miami like this. Don't know if it was just a proposal though or if its being built. theres an english version link on the bottom of the home page. These are mainly in Germany.

http://www.carloft.de/v0/htdocs/index.php

just copy and paste the url if it doesnt work.

Edited March 4, 2008 by southernyank

[ontap]

In the most positive step to date, Pursuit Group applied for thier footing/foundation permit for Encore last Friday.

Has anyone seen the actual plans? I recall seeing plans that required losing a portion of the theater. I believe it was the last few rows of seating. Is this still the case? I really don't like the idea of changing the theater any more. Enough damage was done in the past. I hope this is not the case.

[Charlotte_native]

Has anyone seen the actual plans? I recall seeing plans that required losing a portion of the theater. I believe it was the last few rows of seating. Is this still the case? I really don't like the idea of changing the theater any more. Enough damage was done in the past. I hope this is not the case.

I've not heard that at all. Can't say they aren't, but all I seen and read, and from my talks with the preservation folks at one of the events, that has never been mentioned.

[jednc]

I do think its a silly marketing stunt, and what it tells the buyer is the unit is $50k overpriced in the first place.

I think one of the conditions to getting the Porsche is that the buyer does not use a buyer's agent therefore saving the sales commission. In return, the buyer gets a car. I don't think it suggests the condos are necessarily overpriced.

Anyway, builders regularly use incentives to get people to buy their homes. For me it was hardwood floors. If I were buying a $5M condo, it would probably take a bit more than hardwoods to make me sit up and take notice.

[Andyc545]

I think one of the conditions to getting the Porsche is that the buyer does not use a buyer's agent therefore saving the sales commission. In return, the buyer gets a car. I don't think it suggests the condos are necessarily overpriced.

Anyway, builders regularly use incentives to get people to buy their homes. For me it was hardwood floors. If I were buying a $5M condo, it would probably take a bit more than hardwoods to make me sit up and take notice.

That is correct. And again, the same goes for choosing Panthers Seasosn box (b) tickets or a personal chef © instead of the Porshe (a). I don't think it's really that bad of an idea. I mean, the main features of this condo are: a) Car elevator, assuming you drive very nice and expensive cars; b) In uptown close to all of the nice, fancy restraunts; c) Close to all of uptowns entertainment- like the Panther's stadium. Dropping a few million on a condo, this is just a small bonus. Anyway- I heard there were only something like 2 or 3 units left available anyway, so I think these incentives are dedicated more towards advertising and getting the building fully sold. I could be wrong on that number of available units, I heard this word of mouth a few weeks ago, so take it for what it's worth.

[Charlotte_native]

That is correct. And again, the same goes for choosing Panthers Seasosn box (b) tickets or a personal chef

[BlueDevil37]

They've sold 8 out of 20.

[dxartist]

They've sold 8 out of 20.

C'mon. Just 12 more to go (or whatever the number is to get it going).

[UrbanFuture]

In my opinion the car elevator is already outdated. Check this out...

http://www.europeantower.com/video/ET_DVD_web.wmv

Its a video for a project in Bellevue, Washington called European Tower (www.europeantower.com). It faces a lot of the same size restrictions (more so) as Encore. The project sits on a 75' by 75' lot. Its 17 stories and each floor is its own unit.

The cool part, the robotic parking garage. You pull up into the loading bay, shut your car off, and press a biometric fingerprint pad. The car sinks below ground into the garage. The car is sitting on a pallet and when it gets one full floor under the loading bay the pallet is picked up by a moving robotic elevator and deposited in its assigned spot. When you want to retrieve your vehicle, the same process in reverse. The garage takes up a space just over 2700 sq feet (65' x 42') in footprint and 43 feet deep. It holds 32 cars. Impressive use of space for sure, and all underground, the first floor is free for street level use. No human ever enters the garage, save for one maintenance person only to do required maintenance. Security. No human ever drives the car into the space. No danger of swiping the car next to you or wall. No human ever opens a door next to your car. No dings in the door. AND no car runs inside. No fumes in the building.

What do you think? I think the elevator and sky garages aren't looking as great anymore.

EDIT: This is not a new phenomenon, just something I hadn't seen visually before. It is supposedly very prevalent in other cities around the world.

Edited March 5, 2008 by QCkid

[UrbanFuture]

A company called LTW Systems Inc, a conveyor and crane company supplied the parking system in the above building. http://www.ltw-systems.com/

Another company called Auto Motion is in New York and got some national attention when the opened a public version of the automated parking garage. http://www.automotionparking.com/

Back on topic...

Would it be reasonable to assume that Encore would face a 50 % sale rate to construction? I'm thinking at the price point, maybe 80-85% would need to be sold. Any ideas?

Edited March 5, 2008 by QCkid

[orulz]

What do you think? I think the elevator and sky garages aren't looking as great anymore.

I would say the "sky garages" are actually more high end than the example you provide, even though the technology is not as "cool."

With the "Sky Garages" proposed for Encore, you have access to your car simply by walking out the door of your condo into your garage. Leave your cell phone in the car? Just like walking out to the garage of a single family home. With the biometric, palletized car storage system, you have to go downstairs, wait your turn to use the parking system, wait for your car to be retrieved, get your phone, and then stow your car again. A hassle that would probably take 5 minutes at least.

In addition, if you're packing for a long car trip, being able to load stuff directly from your condo into your car, rather than having to retrieve your car, finding a nearby loading zone or metered space, then bringing your stuff down one elevator load at a time would save a LOT of work.

Besides, I don't think we know anything about the parking elevator yet... I would guess that it might actually use some sort of pallet, where you turn your car off once you drive it into the garage bay, and it stows the pallet (with car on board) into your garage. And who knows, they might still use biometrics instead of fobs/cards/keys/etc.

Of course, Encore lacks the trancey techno music, so perhaps it does lose after all...

[Andyc545]

I like the example that you attached QKid; I have seen that technology used in several scenarios. However, I think what Encore offers is a different product, and in all honesty, a more premier product. The EuroGarage thing would be more ideal in very tight areas and cities where parking is limited, like NYC or San Fran for example. It doesn't give you the luxury of having your car part of your home, like a garage on a typical home. Both scenarios are very nice, but I wouldn't say one is more high tech than the other and I still think Encore is more premier for its purpose.

[UrbanFuture]

haha, I didn't have the speakers on when I saw it, nice.

I see your point on the "Luxe factor" of the sky garages. I'm quickly becoming a die hard sustainability freak and I think that the cool and greener factor could definitely outweigh the luxury factor with the right market. Plus, it opens an incredible amount of space both on the street level (as does Encore) and each floor plate (which Encore does not). It also looks like the building has a loading space available. Plus, that elevator doesn't and won't kick in unless you are in the building pressing the fingerprint pad, assuming its right next to the elevator, you really aren't taking anything very far.

Also, the one in New York was timed at 1:38 seconds, and that was a 68 car garage.

I guess I'll concede that for Encore's audience might go for the elevator over the automated garage.

[RiverwoodCLT]

Cars for the Encore buyers.

[atlrvr]

Encore has submitted Round 2 plans to acquire building permits (well, foundation permits)....this happened last Friday, so it's good to see they are still moving forward....there hasn't been a lot of publicity, but this is a project that I really want to see happen.

[jednc]

Encore has submitted Round 2 plans to acquire building permits (well, foundation permits)....this happened last Friday, so it's good to see they are still moving forward....there hasn't been a lot of publicity, but this is a project that I really want to see happen.

Although they are separate projects, in today's paper the developer of Encore says all but one unit is sold in The Trust. I look at this as positive for a couple of reasons. One, it shows there are still buyers out there at this price point in an uncertain economy, so hopefully that will continue to hold true for Encore. Also, now that The Trust is wrapping up, hopefully Donnelly's full attention will be turned to Encore and we'll* see some progression.

* edit: I misused will for we'll

Edited May 21, 2008 by jednc

[BUILDIT]

8 of 20 units in Encore are under contract as well. The bigger money ones are still up for grabs, with only one full floor penthouse sold, but overall, looking good for this project.

[dubone]

That sounds good in general, but I wonder if he could or should split some full floor units into two. I guess we aren't at the point where he is worried about that, since he is focused more on finishing the Trust and is probably not in a hurry to start construction on the Encore yet.

[uptownliving]

I had heard that more than 8 units were under contract....closer to 12 now.

[Appetite for Construction]

Encore has submitted Round 2 plans to acquire building permits (well, foundation permits)....this happened last Friday, so it's good to see they are still moving forward....there hasn't been a lot of publicity, but this is a project that I really want to see happen.

Do they have the permits needed to start work? Or will this permit approval give them the green light to get started?

[atlrvr]

They don't have any permits the need yet....but they are actively moving through the process of acquiring them....whether or not issues identified in the first round of review were corrected will determine if they will get their permits in the next couple of weeks or so....

[Andyc545]

They don't have any permits the need yet....but they are actively moving through the process of acquiring them....whether or not issues identified in the first round of review were corrected will determine if they will get their permits in the next couple of weeks or so....

Sorry if I missed something, but why were they unable to aquire the permits the original submission?

[atlrvr]

A lot of different reasons, but that's very common....I can't think of a single high-rise that has gotten their foundation or their structural permits on 1st submittal....not to get into the minutea of what they didn't pass on, I'll say the issues didn't seem that difficult to rectify as compared to other buildings that initially were rejected but eventually progressed.....that said, I'm not a structural engineer.

[BUILDIT]

That sounds good in general, but I wonder if he could or should split some full floor units into two. I guess we aren't at the point where he is worried about that, since he is focused more on finishing the Trust and is probably not in a hurry to start construction on the Encore yet.

really there are only 4 full floor units, and I think the will sell. 6,300 sq ft is a ton of space for the price/location

[DCMetroRaleigh]

According to the Observer, developer Jim Donnelly of Pursuit Group has contracts on nine units priced from $1.75 million to $5.5 million and probably needs one or two more sales to break ground, which he hopes will occur by July.

http://www.charlotte.com/122/story/652785.html