SouthEnd Midrise Projects

[dubone]

That is disappointing about the Pepsi parking vs an apartment project. It was somewhat incongruous to imagine they were moving forward. I guess on the bright side, a well maintained parking lot that is held by an owner that wants to build a residential project when the timing is right, as far and away better than that ugly Bonded Distribution warehouse.

[palmetto75]

That is disappointing about the Pepsi parking vs an apartment project. It was somewhat incongruous to imagine they were moving forward. I guess on the bright side, a well maintained parking lot that is held by an owner that wants to build a residential project when the timing is right, as far and away better than that ugly Bonded Distribution warehouse.

There is no way this whole site will be a parking lot only. I remember Pepsi wanting access to Poindexter and maybe space for a few trucks, but a parking lot for even as a temporary fix before teh apmts can be built would seen economically unfeasible given the costs of the land AND the cost to build a permited lot for commercial vehicles (as opposed improvised lot on East Blvd for Latta ).

[Forrest]

So what's going on with the patch of open space at Camden&Park across from Phat Burrito? There is a bunch of fencing I think.... on it along with a real estate available sign. Maybe laying stuff out for Southend Soul Festival?

[tozmervo]

I think it was for the Cycle Charlotte festival on Saturday.

[tozmervo]

The Simpson's building now sports a giant banner advertising "3 acres for sale" by Harris. I think this one can be punted from 'on hold' to 'dead'.

[qcnative2469]

The Simpson's building now sports a giant banner advertising "3 acres for sale" by Harris. I think this one can be punted from 'on hold' to 'dead'.

Its dead. Harris is trying to sell this parcel as well as other parcels he owns on South Blvd.

[jednc]

Its dead. Harris is trying to sell this parcel as well as other parcels he owns on South Blvd.

That's too bad...I liked this project.

[HopHead]

Maybe someone can come in and reuse the existing Simpson's Lighting building. It's nothing really glamerous, but I think with the right idea something creative can be done here.

[Forrest]

Am App is not feeling too sexy these days. Stock is lower than DeeDees hole. Hope they get a white knight to rescue. Southend is already on deathwatch. Don't want to lose SP too.

[Urbanity]

Charlotte City Council set to consider the rezoning tonight: "Members are set to consider 13 zoning petitions. Among them is a request from the Charlotte Housing Authority to rezone nearly 17 acres of land south of South Boulevard and South Caldwell Street and bounded by Templeton and Euclid avenues for a mixed-use development that could include residential, retail and other units. The land is the site of the Strawn High Rise and Cottages as well as the Housing Authority's administrative offices, according to an agency press release."

For the Complete Agenda : Go to www.charmeck.org. Click on "Charlotte City Council."

Edited June 21, 2010 by Urbanity

[Forrest]

I was in Spectrum today and found out that there was a big fight with cops called in front of the building over the weekend. Plus, the complex's club room was trashed. Really lame and inexcusable. Out of all the complexes I think Spectrum is the coolest and to treat such a nice brand new building so shabbily is horrible behavior. Hopefully the offenders are all evicted.

Similar to what happened in Trademark I think, some generous parents are renting units for kids that have not grown up enough. Come on, it's not a dorm. Although I thought I was back in college on Saturday night. A nice but totally wasted girl invited me to a party down the hall from the apt I was visiting. I declined. Would not be surprised if the other nearby buildings are wild every weekend too.

[palmetto75]

After being quiet (again) for a while, dirt is moving again across from Home Economist at "The Colonial" site. For being a relatively flat lot, they're doing some pretty significant site work. It looks like storm systems and grading are going in for the Poindexter extension. I'm not holding my breath, but it's good to see movement in that vast stretch of ready-and-waiting South Blvd.

I've never seen so much comotion and so little visual results, but I think we can clearly see the Pepsi parking lot as well as completion of the Poindexter extension. If I may crawl out of my negative shell for 1 sec I do believe we might see some apmts going up in the next 6-12 mnths. Vacancies rates are falling nationwide and rents are edging up so might not be too impossible to imagine!

[HopHead]

^Not to stray too far off-topic, but I would consider the rental demand in Charlotte to be VERY strong, despite all these new projects that have come online. I couldn't sell my condo, so I opted to rent it out, and the demand to rent especially in Dilworth/South End area was great. It was borderline overwhelming the number of calls I received to rent my place. I also noticed that a lot of the other projects such as Ashton and the Circle seem to be filling up nicely. I wouldn't be surprised to to see a few projects start up by spring time. We don't need any more condos, but rental properties will continue to be good.

[kermit]

^ I agree that rental demand is strong in SoDil. A friend of minerecently rented a 2br in the Ashton for what I thought was a jaw-droppingly high $1,600 per month -- he seemed to think it reflected current market conditions.

[nonillogical]

I'm not sure of a better thread to ask this, but what is going on near the railroad tracks on Summit? That huge field with the concrete foundations near the road (former industrial site I'm sure) is seeing some serious work, with heavy equipment on the far side and construction trailers along Merriman. Is it just brownfield cleanup or something or was there an actual project proposed here?

[kermit]

I'm not sure of a better thread to ask this, but what is going on near the railroad tracks on Summit? That huge field with the concrete foundations near the road (former industrial site I'm sure) is seeing some serious work, with heavy equipment on the far side and construction trailers along Merriman. Is it just brownfield cleanup or something or was there an actual project proposed here?

That could be the new service / layover yard for the gateway station. I think this was part of the state her HSR stimulus cash

EDIT: It does appear that the yard was funded http://www.bytrain.o...y_2_15_2010.pdf

Edited October 13, 2010 by kermit

[atlrvr]

Chris Branch/The Boulevard Company has put out to bid 330 West Tremont. It will be an 165 unit apartment complex that will look very similar to his last project at 1225 S Church (the ones that just finished). It will be 4 stories of wood-frame over 1-story parking. No retail.

The project is located at the corner of Tremont and S. Tryon between Tremont and Dogget (1 block south of the multi-colored metal office buildings known as Camden Square West)

I'm assuming he is financing it through the HUD 221d program which should actually receive approval. I don't know when he began applying for financing, but I'm guessing he breaks ground 1st half of next year.

I'm disappointed in the lack of retail, but this along with Ashton South End should provide a lot of foot-traffic in that area. Now we just need something besides Pike's to open.

[tozmervo]

I'm disappointed in the lack of retail, but this along with Ashton South End should provide a lot of foot-traffic in that area. Now we just need something besides Pike's to open.

At this point, I'd consider it a win if we could just get Rite Aid to stay open past 8 on weekdays.

[atlrvr]

Bang & Olufson finally applied for their building permit to upfit the space on Camden. They are going in on the ground floor of The Kingston condos.

[Rufus]

I thought they were going in Founders Hall?

[kermit]

Spectrum appears to be about 2/3 sold based on the (highly unscientific) presence of balcony furniture. Much fuller than I had thought.

I think the latest work at the Colonial site is just the city putting in sidewalk and a turn lane for Poindexter ext. I don't see any other site work.

EDIT: Demolition has begun on the old Englishmens building beside the Scaleybark station park and ride (it does not look like a larger construction project is imminent)

(I would have posted that in the Scaleybark project thread but it appears to be locked)

Edited October 19, 2010 by kermit

[kermit]

One data vendor is reporting 15% vacancy rates (second lowest in town) and mid 900 rental rates (second highest in town) for the Southend apartment market in the third quarter. If accurate I am surprised that vacancies are so low with all the new inventory.

[HopHead]

It appears that Atherton Mill is really starting to come to life. A new Big Ben's British Pub will open there next month. Also, it's been announced that wine store called "Vin Master" will be opening in addition to Sola Salon. Kimley Horn, an engineering firm will also be consolidating their operations there as well. Good to see that Atherton is filling up. To me, this was one of the more underrated spaces in South End.

[kermit]

One data vendor is reporting 15% vacancy rates (second lowest in town) and mid 900 rental rates (second highest in town) for the Southend apartment market in the third quarter. If accurate I am surprised that vacancies are so low with all the new inventory.

a contact revealed the following details. The 15% vacancy rate includes Southend, uptown and Southpark.

Ashton is 56% full

Circle is 49% full

Millenium is 90% full

Spectrum is 68% full

Catalyst (just for fun) is 64% full

[Dilworthy]

Very interesting, having been in all Spectrum is my favorite. Millenium seemed a little cramped.