SouthEnd Midrise Projects

[atlrvr]

Tryon St. frontage of The Millenium. This project is creeping along.

I neglected to take a picture of the new paint scheme going up at Camden South End Square, but I don't think its anyworse than the snooze-fest that was there.

[atlrvr]

Also, Cox & Schepp, the GC's for 1225 S. Church St apartments (The Blvd. Co's apartments), has put up a Webcam. I'll add this to the list in the Charlotte Coffee House as well.

http://www.earthcam.com/clients/coxschepp/

Looks like over 50% of the footings for the first building (Phase I) are already poured.

[Guest]

Great updates ATLRVR, you've been a busy guy. On another topic, has anyone ever noticed that Ashtons Courtyard and 75% of the condos seem to be perpetually in shadows. I even watched the time lapse to confirm this, and it seems to be prettyt true, how unfortunate. http://oxblue.com/pro/open/?webPath=waynebros/ashton

[Charlotte_native]

At least the rooftop deck and gardens won't be -- they'll be almost perpetually in the sun.

[voyager12]

Anyone else get the free burrito coupon from the Southend Chipotle Grill in the mail? I am going this week

Edited February 22, 2009 by voyager12

[Guest]

I haven't seen this mentioned anywhere here, but Ashton Southend finally has a website that I can find. http://www.ashtonSE.com

I must say after looking at this website this project is definately droolworthy, as it should be for the prices they are asking. The Floorplans do give us an answer as to what happened to the 8k of retail. It seems it all became their obnoxiously large clubhouse (10 "room" area, with fitness club, catering kitchen, HDTV Lounge, Screening Room, Executive Conference Room, Concierge, Art Gallery, Wifi Lounge, Private Dining Room, etc.)

[voyager12]

I am starting to worry that many of these completed projects are going to be mostly empty shells and devoid of life. At night you can see many of the already completed projects around town and very few lights are on in the units. The Residence Apts @ The Village at SouthPark are very sparsely inhabitated along with the condos at The Met. The white collar jobs that potential Ashton residents would hold are being slashed in ever greater numbers. Many of these people are leaving, not looking to rent a luxury apt. Leasing may be less risky than owning but there is also going to be a glut in Southend since the employment incentive is not present to fill these buildings.

Edited February 26, 2009 by voyager12

[atlrvr]

I said it several months ago....there are going to be some amazing deals in the South End apartments by this time next year.

[UrbanFuture]

I am starting to worry that many of these completed projects are going to be mostly empty shells and devoid of life. At night you can see many of the already completed projects around town and very few lights are on in the units.

Agreed, Charlotte is starting to show that "Miami nighttime skyline" (not on the same scale, but its becoming more visible). What I mean by that is at night, you see buildings that are almost completely dark against other lit buildings in whatever view you may be looking at. Spooky on several levels. I also agreed with the post above, amazing deals to come in SouthEnd, whether they be for the consumer or massive total building foreclosure deals for investors.

[atlrvr]

Amazingly, ANOTHER site in the South End seems to be moving forward as an apartment project. The NE corner of Tremont and S. Tryon (currently has warehouses on it) is proposed to be a new apartment community by The Boulevard Co. Originally, The Hanover Co. (did Ashton South End on Tremont) had the site under contract, but it appears that Chris Branch has now placed in under contract and is getting it rezoned. He has also begun the process of securing building permits.

[Charlotte_native]

There will be more...

[queensguy06]

Are these companies building out right now as rental with the idea that when construction has finished the economy will have recovered enough to switch back to condos? I just can't picture the need for so much luxury apartment space now, or even in three years.

[tozmervo]

Ashton, Spectrum, Circle and Millenium have always been apartments, as far as I know.

Also, Circle continues to impress. The units (at least on the rail side) are getting substantially sized floor to ceiling windows by the balconies. I'm going to watch the rental prices on that one pretty closely, might be worth a move...

[Charlotte_native]

Are these companies building out right now as rental with the idea that when construction has finished the economy will have recovered enough to switch back to condos? I just can't picture the need for so much luxury apartment space now, or even in three years.

I don't think they are planning on converting any that are coming online right now to condos, but others soon might be -- think 5th & Poplar but better built at the beginning for later conversion (there they had to change out all the kitchens and fixtures).

[atlrvr]

5th & Poplar even had popcorn ceilings that they had to replace.

I'm really disappointed with the ratio of apartments to condos in South End. I fear that it will lead to a transient population in the neighborhood. Nothing wrong with renters, but when it is such a substantial proportion, then you typically don't see the same commitment to a neighborhood.

[Charlotte_native]

5th & Poplar even had popcorn ceilings that they had to replace.

I'm really disappointed with the ratio of apartments to condos in South End. I fear that it will lead to a transient population in the neighborhood. Nothing wrong with renters, but when it is such a substantial proportion, then you typically don't see the same commitment to a neighborhood.

I agree to a degree, but I also think it will introduce a few thousand people to the neighborhood who might then want to take a permanent stake in the area if they like it. This includes that those live there and those that visit them.

[JBGB]

I agree to a degree, but I also think it will introduce a few thousand people to the neighborhood who might then want to take a permanent stake in the area if they like it. This includes that those live there and those that visit them.

Totally agree. I rented in South End for a few years then bought a house here. My wife and I love it over here.

[voyager12]

Ashton is adjusting to the economic reality and reducing their rates.

"Ashton South End, the 11-story luxury apartment building under construction at Camden and Tremont roads, is scheduled to open April 1 with reduced rates, says a spokeswoman for the developer.

The rate reductions come as a nationwide housing and credit crisis have triggered an increase in housing supply and decreased demand. Meanwhile, several condo developers in the Charlotte region have converted all or part of their buildings to apartments, increasing competition among leased housing.

Houston-based developer The Hanover Co. had initially planned to charge $1,800 to $3,500 a month for the building's one- and two-bedroom units. At the time, developers said they believed Charlotteans would be willing to pay those rates because of Ashton's proximity to uptown and its views of the city skyline.

Now those units are being leased for $1,100 to $2,900, Hanover spokeswoman Cynthia Birdwell said."

I still don't think it's worth it. The rail is definitely a great convenience factor. But it's not walkable to a supermarket or enough restaurants or retail to make sense to me. The area will probably build this out eventually but not anytime soon.

[Guest]

Wow, this just entered my budget if I move back, I was iffy on spending what I spend in brooklyn on an apartment in Charlotte, but now that the rates have gone down, I might consider renting here. I absolutely have started to love this project, minus the lack of natural light.

[Andyc545]

^ Atlvr called that one. I will admit though, that was a pretty aggressive drop.

[Guest]

So in a typical Charlotte move, they have erected a fence around Ashton Southend. They make so many great steps toward an urban feel, and then pull the usual Suburban Charlotte crap out. Will it ever end?

you can see the fence here.

http://oxblue.com/pro/open/?webPath=waynebros/ashton

[tozmervo]

Yeah, I was not happy at all to see that fence go up. Up to that point it had been a pretty nice street treatment.

[voyager12]

^ It's so lame and antithetical to the principles that are supposed to be guiding the area. It would be one thing if this was a complex in suburbia where a fence is practically required for marketing. But in Southend? A neighborhood that is supposed to be developed around interconnectivity and public access?

[atlrvr]

American Apparel is apparantly closing or has already closed on Camden I was really hoping they would make it, as they and niche are probably two of the best examples of urban retail in the city.

[voyager12]

^ That is depressing if true although not too surprising. It's been deserted everytime I have been in there. Even so, I thought they had established a consistent enough following to keep it going. I wonder if Common Market is now on hold or cancelled? There does not seem to be much progress on the Southend location.