Misc. Uptown Projects/News

[CLT2014]

3 hours ago, elrodvt said:

If it's decently sized and priced condo's I'll run over to home depo and rent a digger right now. 

My guess is decently expensive.

$280k - $340k for studios

$380k - $550k for one bedroom

$550k - $800k for two bedrooms

$800k+ for three bedrooms

Edited December 14, 2017 by CLT2014

[elrodvt]

Kinda rich for uptown

[go_vertical]

IIRC One Charlotte had 1 million plus units. Absolutely crazy but that was a beautiful building.

[nakers2]

2 hours ago, elrodvt said:

Kinda rich for uptown

Uptown has a lot of variety though, certainly not much in the way of affordable housing, but moderate income people such as myself could pull some strings and afford a studio or one bedroom (which is really all you need if its just you and maybe a partner) or split rent on a two bedroom with a roommate (and most places allow two people per room, so once again, a partner could live alongside you.) If you need more than two bedrooms then you're getting into family territory and probably got a nice cash flow if you can raise your family in Uptown Charlotte. As far as anything with more than three beds, that's penthouse territory, and I don't think there's a short supply of rich people who would take one of these as their second, third, fourth, etc home. A condo in those price ranges is not too high above similar apartments, just with more commitment. With that being said, who knew that the Third Ward would be where all these ritzy places pop up?

[elrodvt]

30 minutes ago, nakers2 said:

Uptown has a lot of variety though, certainly not much in the way of affordable housing, but moderate income people such as myself could pull some strings and afford a studio or one bedroom (which is really all you need if its just you and maybe a partner) or split rent on a two bedroom with a roommate (and most places allow two people per room, so once again, a partner could live alongside you.) If you need more than two bedrooms then you're getting into family territory and probably got a nice cash flow if you can raise your family in Uptown Charlotte. As far as anything with more than three beds, that's penthouse territory, and I don't think there's a short supply of rich people who would take one of these as their second, third, fourth, etc home. A condo in those price ranges is not too high above similar apartments, just with more commitment. With that being said, who knew that the Third Ward would be where all these ritzy places pop up?

There isn't much uptown inventory but prices aren't going up much. Nothing like what we were lucky enough to experience in Denver.  If a 2b is 1300sq and 550k that's a bit high but reasonable depending on HOA and amenities. Much more though and it seems like your trying to charge big city prices for a just emerging downtown.  It'll be interesting to see.

[KJHburg]

Dominion Development has done mixed used towers before. They did PNC tower in Raleigh their tallest building and now they are planning a 22 story tower with offices and apartments.  At 22 stories that is really tall for Raleigh.   Here is information on the new FNB tower: https://www.bizjournals.com/triangle/news/2017/05/23/fnb-bank-to-anchor-downtown-raleighs-new-22-story.html

In terms of condos I do think there is a market as ZERO new condos have been delivered in uptown Charlotte in the last few years.  It would need to small number and maybe a mixed use tower like this would be the ticket.   Prices in the Avenue which fell greatly and were slow to recover have finally recovered fully and now selling at their peak prices.  

[ES Charlotte]

Condos numbers still don't make sense unless you can charge $500-$600 a sq ft or get 50% down. Not happening in Charlotte for a few more years.

[CharlotteWkndBuzz]

I occasionally browse the other forums on UP and stumbled across the Nashville section and read about their new 505 Nashville Residential highrise.  It has both apartments and condos (Top 10-15 floors I believe are condos).  But the unique thing is it that it's offering short-term rentals (Nightly) to help fill in their tallest residential highrise (45 stories).  Kind of a cool concept.   I would have thought the Mint Tower would have been a perfect candidate to make some of those higher floors condos.

Edited December 14, 2017 by CharlotteWkndBuzz

[kermit]

18 minutes ago, ES Charlotte said:

Condos numbers still don't make sense unless you can charge $500-$600 a sq ft or get 50% down. Not happening in Charlotte for a few more years.

Gezzz. That is pushing twice the price of a house in Dilworth. Gezzz.

[elrodvt]

1 hour ago, CharlotteWkndBuzz said:

I occasionally browse the other forums on UP and stumbled across the Nashville section and read about their new 505 Nashville Residential highrise.  It has both apartments and condos (Top 10-15 floors I believe are condos).  But the unique thing is it that it's offering short-term rentals (Nightly) to help fill in their tallest residential highrise (45 stories).  Kind of a cool concept.   I would have thought the Mint Tower would have been a perfect candidate to make some of those higher floors condos.

Then you  end up with issues getting standard loans (like Sky does). Plus who wants to pay that for a condo then have it  partly be short term rentals with probably sketchy management - at least a hotel knows how to run the place. I think it's a terrible idea. Is that really a delivered building or just an idea?

1 hour ago, kermit said:

Gezzz. That is pushing twice the price of a house in Dilworth. Gezzz.

Living in uptown is just not that compelling at the moment imho. If everything goes right and with a lot of luck I can see this in a few years as well. But even then 500/sq is pushing it.  I say luck because I don't see the city rowing in that direction at all. It's a major achievement to get a crosswalk for crying out loud. 

Edited December 14, 2017 by elrodvt

[Guest]

30 minutes ago, elrodvt said:

Then you  end up with issues getting standard loans (like Sky does). Plus who wants to pay that for a condo then have it  partly be short term rentals with probably sketchy management - at least a hotel knows how to run the place. I think it's a terrible idea. Is that really a delivered building or just an idea?

Living in uptown is just not that compelling at the moment imho. If everything goes right and with a lot of luck I can see this in a few years as well. But even then 500/sq is pushing it.  I say luck because I don't see the city rowing in that direction at all. It's a major achievement to get a crosswalk for crying out loud. 

Its a topped out building.
That said I'm fairly certain 401 does not include condos.
For what its worth, a chatty drunk person at a holiday party was heard talking about a number of condo deals in the works. I know of two, neither are uptown.

Edited December 14, 2017 by Guest

[Scribe]

1 hour ago, elrodvt said:

Living in uptown is just not that compelling at the moment imho. If everything goes right and with a lot of luck I can see this in a few years as well. But even then 500/sq is pushing it.

You have some strange utopian view of living Uptown. Living there until 2011, I found it compelling (convenient, interesting, fun, exciting, efficient) until work logistics made me move.

1 hour ago, elrodvt said:

I say luck because I don't see the city rowing in that direction at all. It's a major achievement to get a crosswalk for crying out loud.

Not sure, where you've been the last 5-10 years, but Uptown has become more walkable/accessible every single year.  Maybe you wish your view of Uptown was implemented sooner, but the reality is Uptown is only one part of the city. That's why there are plans and schedules with budgets and priorities.

Edited December 14, 2017 by Scribe

[elrodvt]

23 minutes ago, Scribe said:

You have some strange utopian view of living Uptown. Living there until 2011, I found it compelling (convenient, interesting, fun, exciting, efficient) until work logistics made me move.

Not sure, where you've been the last 5-10 years, but Uptown has become more walkable/accessible every single year.  Maybe you wish your view of Uptown was implemented sooner, but the reality is Uptown is only one part of the city. That's why there are plans and schedules with budgets and priorities.

I didn't say there was no progress towards are more livable urban environment.  I have only lived here 4 years but in that time there have been improvements. However, it's seemed very slow and haphazard to me. 

I said that what is here is not compelling enough to push that price vs. a place in plaza or whatever. It's a personal feeling and everyone has their own threshold. I'm not sure why you would call it a utopian view?  I made the decision that 300/sq was worth it. $500 no way. In denver or philly or .... sure. You know what, it's ok to think it's not perfect in uptown. It started in a pretty deep hole and has a long way to go. If you found uptown compelling in 2011 (lol) we're definitely coming from different places but that's ok right?  

BTW, What does it cost to not let sidewalks be closed all the time unless absolutely unavoidable?  To keep crosswalks painted and occasionally have enforcement? What does it cost to get rid of the random parking on streets where you cannot even guess which lane to be in? Nothing much,  just lack of concern......... I could go on. It's not just a question of money or priority. It's also one of direction and desire.

[deleted]

5 hours ago, elrodvt said:

BTW, What does it cost to not let sidewalks be closed all the time unless absolutely unavoidable? 

Amen to this!  My biggest gripe as a runner in the city.

[jednc]

On 12/14/2017 at 12:13 PM, Scribe said:

Not sure, where you've been the last 5-10 years,

Then you must have never read a single one of his posts. He's been in DENVER, DENVER, DENVER.

[Cadi40]

Uptown is plenty compelling and lively, Ever walked around or gotten outside on a Friday or Saturday night? People playing musical instruments all over, bars are filled, dance floors are pretty packed and people are having a good time.

[Guest]

Uptown is plenty compelling and lively, Ever walked around or gotten outside on a Friday or Saturday night? People playing musical instruments all over, bars are filled, dance floors are pretty packed and people are having a good time.

He resides at 3rd and Tryon, so I’m going to go out on a limb and guess, yes, yes he has.


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[ES Charlotte]

3 hours ago, ricky_davis_fan_21 said:

He resides at 3rd and Tryon, so I’m going to go out on a limb and guess, yes, yes he has.


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I know that place 

[Guest]

I went inside but there were no scoops to be found, and nobody would engage in conversations about urban planning :-(


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[DMann]

RDF, Great article in C5. Looking forward to watching that developGreat article in C5. Looking forward to watching that develop

Watch out there’s an echo in here

[uptownliving]

The funny thing is that Urban Planet is in the least urban NYC borough: Staten Island.

[Guest]

10 hours ago, uptownliving said:

The funny thing is that Urban Planet is in the least urban NYC borough: Staten Island.

and what a horrible place it is. I never want to go back to that borough ever again. 

 

[CLTProductions]

Sabor is taking the space formally occupied by Tavolo at 6th and College. Holy crap.  

[AppState92]

I love Sabor!  A bit surprised they would take a space that large.  All the ones I go to are very small.   I know they are different concepts, but it will be interesting to see if it impacts Cantina a block away.

[SouthEndCLT811]

14 minutes ago, AppState92 said:

I love Sabor!  A bit surprised they would take a space that large.  All the ones I go to are very small.   I know they are different concepts, but it will be interesting to see if it impacts Cantina a block away.

Obviously, haven't you heard of the Sabor effect and the city's ability to appreciate $4-5 tacos? 

Edited December 19, 2017 by SouthEndCLT811