Belk Place: Carolina Theater and Hotel Intercontinental

[Hushpuppy321]

This planned opening (Mid to late 2022) could hopefully lead straight into the Intercontinental Hotel Construction phase.  Staying optimistic 

[DMann]

putting a lid on the elevator shaft at The Intercontinental.

[JRCLT]

putting a lid on the elevator shaft at The Intercontinental.

Carolina Theater/Belk Place* Since that part won’t exist until later I guess...


Sent from my iPhone using Tapatalk

[gman430]

Looks a tad shorter than the renderings.  

[Mid South NC]

I'm digging what the theater will bring to N. Tryon, and if anywhere in the city could absorb a setback of a 400'+ tower, it's right here.
With BofA & Truist as immediate neighbors, 42 market condo tower a block away, the JBL, the Avenue and others right there as well while in most Carolina cities this tower would be the tallest building by leaps & bounds, on N. Tryon, in Charlotte it will be dwarfed by existing neighbors. 

Would I like to see the Intercontinental built right away, on faith in the recovery? Absolutely! But we are in the midst of a global pandemic recovery, slowly reopening from an unprecedented, almost total, year long shut down and all, so as Chris Rock would say, "I understand" and who knows, my optimistic nature could see a QC recovery so hot they go ahead and restart by adding a another 10 floors to the hotel.  Lets be honest, they could double the expected height of hotel portion and the top floors would still only be looking into the the 50 - 55th floors of BofA. 

Edited March 15, 2021 by Mid South NC

[QCxpat]

Today 4:55 p.m.

Edited March 15, 2021 by QCxpat

[urbanlover568]

What's the completion date for this? 2100? 

[QCxpat]

Today 11:05 a.m.

Edited March 20, 2021 by QCxpat

[CharlotteWkndBuzz]

I don't have a subscription, but are there any interesting tidbits in this article that we don't know yet?

What’s the plan for Carolina Theatre with rooftop luxury hotel? It’s complicated.

[turbocraig]

4 hours ago, CharlotteWkndBuzz said:

I don't have a subscription, but are there any interesting tidbits in this article that we don't know yet?

What’s the plan for Carolina Theatre with rooftop luxury hotel? It’s complicated.

Not really.  Other than this bit that says it’s not cancelled, just on indefinite hold for now.  Which actually isn’t news, so I guess no, there is no news  contained herein. 

Smith said the companies don’t have a firm date for when they might start work on the hotel.

“There’s been no indication that they plan not to go forward,” she said. “It’s just that the world has changed a bit since we’ve started.”

[#1Son]

51 minutes ago, turbocraig said:

Not really.  Other than this bit that says it’s not cancelled, just on indefinite hold for now.  Which actually isn’t news, so I guess no, there is no news  contained herein. 

Smith said the companies don’t have a firm date for when they might start work on the hotel.

“There’s been no indication that they plan not to go forward,” she said. “It’s just that the world has changed a bit since we’ve started.”

Not hotel related, but the article does touch on N. Tryon development somewhat.

Despite the hotel plans being stalled, a number of other projects are underway as the North Tryon area experiences a revitalization.

The Charlotte Mecklenburg Library unveiled plans in late 2019 for its $135 million overhaul of the main branch along North Tryon.

The city, county, library and Bank of America plan to sell 3.1 acres along North Tryon between 6th and 8th streets to Virginia-based developer Metropolitan Partnership for a mixed-use development. The $600 million project includes plans for an office tower, apartments, retail and parking.

 

 

Edited April 8, 2021 by #1Son

[queensguy06]

2 hours ago, turbocraig said:

“There’s been no indication that they plan not to go forward,” she said. “It’s just that the world has changed a bit since we’ve started.”

I would have agreed with that statement 6 months, 1 year ago when there was less certainty around planned vaccinations and no end game plan for the pandemic.  But this statement is completely irrelevant in April of 2021.  We are weeks away from the national government rolling out vaccinations for ALL adults with most states easing restrictions across the board.  By end of summer it looks like we will be in a fairly pre-pandemic state of operations.  And this hotel wouldn't even be completed until 2022-2023 as is - I would think the most ideal time to open a new flagship hotel.  Sure, we will see some changes in work environs with more work-from-home positions than pre-pandemic.  But people will still be traveling, sporting events and concerts will be in full swing, conventions will make a comeback, the list goes on.  If the reason this has stalled is because it's become a money pit at time when financing and cash on hand is low, then say that.

As I typed this, one reason did come to mind for a hold and that is material costs.  I don't know about steel/metals, but lumber has skyrocketed in price over the past year.

[tozmervo]

Lumber prices are *#$% insane right now, but sheet metal is not far behind on the insanity level. It's creating huge supply and demand challenges.

[ArchiCLT]

I'm an architect in Charlotte, and it's not just lumber. Lead times for materials and products across the board are at high levels. We're experiencing 6 to 8-month lead times right now for steel, and costs have nearly doubled since pre-COVID levels. There are only 3 major manufacturers of steel decking and joists in the US, and even 12 regional suppliers are subsidiaries of 2 of the same 3 national companies. Most steel foundries are currently operating with only one shift, which is unnecessarily inflating the market. If this trend continues, we might see the market soon revert to using precast concrete double-tee's, in lieu of steel for some warehouse projects.

[SMSRedux]

9 minutes ago, theronhobbs said:

We're experiencing 6 to 8-month lead times right now for steel, and costs have nearly doubled since pre-COVID levels. There are only 3 major manufacturers of steel decking and joists in the US, and even 12 regional suppliers are subsidiaries of 2 of the same 3 national companies. 

I can echo this statement with our experiences as well. Coil steel (decking/bar joist) is outrageous right now, especially on lead times for bar joist which is putting many projects out towards the end of this year already just to get materials. Heard another mill was to be up and running in TX later this year which may start to relieve some pressure into next year.

[videtur quam contuor]

Buying a laundry set, washer and dryer, delayed for weeks at least, months in many cases due to supply issues including steel, chips, and supply chain issues. If you need a new laundry appliance take what you can get. I know.

[Poo Diddy]

16 hours ago, theronhobbs said:

I'm an architect in Charlotte, and it's not just lumber. Lead times for materials and products across the board are at high levels. We're experiencing 6 to 8-month lead times right now for steel, and costs have nearly doubled since pre-COVID levels. There are only 3 major manufacturers of steel decking and joists in the US, and even 12 regional suppliers are subsidiaries of 2 of the same 3 national companies. Most steel foundries are currently operating with only one shift, which is unnecessarily inflating the market. If this trend continues, we might see the market soon revert to using precast concrete double-tee's, in lieu of steel for some warehouse projects.

This right here.  I work more with aluminum than steel.  Mills are rationing supply of aluminum and generally the auto manufactures get top priority as they are buying high grade aluminum.  Building product manufactures are lower on the chart and have to do with the limited supply.  The biggest constraint we are facing is the labor shortage.  It's quickly headed to crisis levels.  I can personally attest some building product factories are operating with half their normal staffing levels.  In the past 4 months we've seen lead times go from 6-8 weeks to 12-14 weeks.  It's creating a mess for onsite job progress.

[gman430]

5 hours ago, Poo Diddy said:

This right here.  I work more with aluminum than steel.  Mills are rationing supply of aluminum and generally the auto manufactures get top priority as they are buying high grade aluminum.  Building product manufactures are lower on the chart and have to do with the limited supply.  The biggest constraint we are facing is the labor shortage.  It's quickly headed to crisis levels.  I can personally attest some building product factories are operating with half their normal staffing levels.  In the past 4 months we've seen lead times go from 6-8 weeks to 12-14 weeks.  It's creating a mess for onsite job progress.

Labor shortage due to people not wanting to go back to work because they’re making more sitting at home collecting unemployment. Sad.

[jthomas]

1 minute ago, gman430 said:

Labor shortage due to people not wanting to go back to work because they’re making more sitting at home collecting unemployment. Sad.

*citation needed*

[gman430]

7 minutes ago, jthomas said:

*citation needed*

https://www.bloomberg.com/news/articles/2021-04-05/businesses-can-t-fill-jobs-despite-high-u-s-unemployment

https://www.nytimes.com/2021/04/08/dining/restaurant-worker-shortage.html

From NY Times article: 

Restaurateurs say many former employees are choosing not to re-enter the work force at a time when they can make nearly as much or more by collecting unemployment benefits.

“You have some cases where it’s more profitable to not work than to work, and you can’t really fault people for wanting to hold on to that as long as possible,” Mr. Fox said.

Edited April 9, 2021 by gman430

[CLTranspo]

Guess we’ll have to raise wages ¯\_(ツ)_/¯ 

[jthomas]

5 minutes ago, gman430 said:

https://www.bloomberg.com/news/articles/2021-04-05/businesses-can-t-fill-jobs-despite-high-u-s-unemployment

Thanks. I disagree with the conclusion that it is "sad" - this was the relevant quote to me:

"Many of the jobs that employers can’t fill are low-paying, while the high-paying ones generally require skills that most people don’t have."

I agree with @CLTranspo - I have little sympathy for companies whose business model relies on paying their employees poverty wages. To me, it's an indictment of the businesses, not the character of the people on unemployment. They are making a rational economic decision.

[Spartan]

So the market isn't responding by offering higher wages like everyone said it would? Go figure!

[Urban Cowboy]

 

16 hours ago, gman430 said:

Labor shortage due to people not wanting to go back to work because they’re making more sitting at home collecting unemployment. Sad.

Labor shortage due to MARGINALIZED people not wanting to RISK THEIR LIVES FOR POVERTY WAGES because they’re PROVIDING more at home EARNING unemployment. Smart.
 

I find it easier to not judge the decision making or circumstances of people I don’t know and probably can’t relate to. Every person and every business has responded differently the last 13 months. I think EVERYONE from every background deserves a little grace. I know several people who have died from COVID - and I can’t blame anyone for not wanting to risk their lives to make minimum wage.

Once everyone is eligible for the vaccine, and we’re all vaccinated...Then by all means, let’s get back to work. 
 

[gman430]

20 minutes ago, Urban Cowboy said:

 

Labor shortage due to MARGINALIZED people not wanting to RISK THEIR LIVES FOR POVERTY WAGES because they’re PROVIDING more at home EARNING unemployment. Smart.
 

I find it easier to not judge the decision making or circumstances of people I don’t know and probably can’t relate to. Every person and every business has responded differently the last 13 months. I think EVERYONE from every background deserves a little grace. I know several people who have died from COVID - and I can’t blame anyone for not wanting to risk their lives to make minimum wage.

Once everyone is eligible for the vaccine, and we’re all vaccinated...Then by all means, let’s get back to work. 
 

That’s great and all but some of us work at an essential business and couldn’t take off work no matter if we thought it was safe or not due to Covid. I personally was never furloughed and had to show up for work everyday. That holds true to this day. 

If us essential workers have to go to work these other people should have to also instead of enjoying a free ride by the government that does nothing but add to the national deficit.

 

Edited April 10, 2021 by gman430