SouthEnd Midrise Projects

[nonillogical]

I could be wrong, but I thought we saw an announcement news article on the Camden West project that specifically stated 10 stories.

[Norm2]

I could be wrong, but I thought we saw an announcement news article on the Camden West project that specifically stated 10 stories.

Yup, I remember reading in the Observer that it will be specifically 10 floors.

[Urbanity]

Camden Property Trust said it plans to build a 10-story, 324-apartment building at West Boulevard and Camden Road, and a 266-apartment building at South Boulevard and Iverson Way. Camden already owns two large apartment buildings in South End.

 

Read more here: http://www.charlotteobserver.com/2012/12/05/3706109/2-more-apartment-buildings-coming.html#storylink=cpy

Edited February 22, 2013 by Urbanity

[kermit]

Not much to see here, just a bad construction photo of the Poindexter extension grade crossing with some bonus Silos construction in the background.

 

http://www.flickr.com/photos/59674686@N05/8503889661/

[kermit]

Anyone care to speculate on the future of the Southline Publix now that Publix has expressed some interest in purchasing all of HT?

 

It would be a shame if the site were abandoned due to an acquisition of HT.

 

http://www.bloomberg.com/news/2013-02-28/publix-super-markets-said-to-be-mulling-a-bid-for-harris-teeter.html

(pulled from the grocery store thread, thanks to DigitalSky)

[Missmylab4]

If they don't build it someone else will. South End will have the critical mass soon. Furthermore, the Dilworth location is becoming overcrowded and will continue to. It isn't intended to support all of Dilworth and South End.

[Guest]

Anyone care to speculate on the future of the Southline Publix now that Publix has expressed some interest in purchasing all of HT?

 

It would be a shame if the site were abandoned due to an acquisition of HT.

 

http://www.bloomberg.com/news/2013-02-28/publix-super-markets-said-to-be-mulling-a-bid-for-harris-teeter.html

(pulled from the grocery store thread, thanks to DigitalSky)

There is speculation that Whole Foods will be announcing a Second, and perhaps Third Charlotte Location in 2013. If Publix doesn't move forward in SouthEnd Whole Foods might, and that would be a great fit!

[Prodev]

There's no way Publix buys HT. If I were a betting man, I'd go all in on that. I'll play though...If that did happen, I'd think they'd land bank the site for a few years until the density comes and they would still build. Kenilworth Commons is so overcrowded and it's the only grocer to serve South End (Healthy Home Mkt doesn't count). 

[tozmervo]

My impression was that Publix was just the planned tenant for the project, not the owner. The developer would likely just draw another grocery tenant. Then again, HT obviously has no problem with stores stacked up on one another, I could easily see Publix just moving forward with the project regardless.

[Prodev]

It's a joint venture between Stiles and Publix. Same with the Ballantyne location.  

[Guest]

http://goo.gl/maps/lqlPN

 

This parcel has gone up for a TOD-MO Rezoning, no siteplan yet. Anybody have any information?

http://charmeck.org/city/charlotte/planning/Rezoning/RezoningPetitions/2013Petitions/Pages/2013-042.aspx

Edited March 9, 2013 by Guest

[nonillogical]

^ Hmm, I was hoping the rezoning was for the manufacturing building fronting Bland rather than the stuff on Lincoln. Those buildings actually seemed to have good re-use potential. The larger building that I think housed an indoor soccer practice area would be difficult to sell I imagine, but the other warehouse building is a no-brainer studio space. At least those units on the corner will remain, I think they will one day house retail. 

Edited March 9, 2013 by nonillogical

[Prodev]

I hate to be the bearer of bad news but Camden is no longer doing 10 story at West & Camden. It'll be 5 story stick product now. Rising costs are the primary reason. 

[Guest]

I hate to be the bearer of bad news but Camden is no longer doing 10 story at West & Camden. It'll be 5 story stick product now. Rising costs are the primary reason. 

NOOOOO! Please tell me the 18k of retail will remain. I mean I'm fine with 5 floors, as long it looks like Centro Studios, that was going to be a hell of a proposal.

Edited March 20, 2013 by Guest

[ah59396]

That is an utter disappointment.     

[RVA2CLT]

^^ that is extremely disappointing.

Any idea if they plan to still keep the 9k sq ft of ground level retail space and the same amount of apartments as well or is the whole thing being scaled way back?

[HopHead]

Interesting that they cite rising costs as a reason to scale the project back considering the extremely low vacancy rates around town. As others have said, hopefully they don't sacrifice the retail portion.

[RVA2CLT]

I wonder if the SENA/CCP had anything to do with this since the rest of South End TODs are currently zoned w/ height restrictions to mid-rise. Perhaps they influenced the developer to fit that mold.

Maybe since Camden is supposed to build another TOD on South next to Publix, they want to maintain good relationships with the neighborhood leaders by reaching a compromise on their design to fit 'The Vision for South End'.

Edited March 20, 2013 by RVA2CLT

[Prodev]

No intel on the retail, but I would suspect it will still be included. I don't think CCP or SENA had any influence and if anything, I would imagine that they would be in support of the additional height within the 120' TOD limit. The Design Center parking lot parcel across the street has UMUD zoning and the city was supportive of a plan of up to approximately 18-20 stories, so I can't imagine there being any issue with 10 stories on this site. From a cost perspective, they would need rents in the $1.90-2.00 PSF range to support doing a 10 story product versus needing only about $1.60 PSF to support 4/5 story stick product. With costs rising between 5-7% over the last 6 months, the uncertainty about the next 6 months escalations, and the amount of supply coming on line, I certainly understand why they're scaling back.  

[nonillogical]

Though this is disappointing, as long as we can get something on par with the last Centro rendering we saw, which had lots of small retail spaces along both Camden and West, and some fairly interesting variance in the facade, I am fine with a shorter building. That is still expecting this to be a significant notch up from the last round of Southend residential, and I hope thats not too much to ask. 

[kermit]

does anyone have a feel for which component of construction costs are increasing? Concrete? Steel? Finishes? Labor or lumber would not be my first guess.

 

Sorry about the digression.

[rugger62]

does anyone have a feel for which component of construction costs are increasing? Concrete? Steel? Finishes? Labor or lumber would not be my first guess.

 

Sorry about the digression.

 

http://www.nahb.org/generic.aspx?genericContentID=527

 

lumber up 47% over last year based on most recent data.

[kermit]

^ thanks! I would have thought that climbing lumber prices would make a steel framed and curtained building would be relatively more attractive than a shorter stick built structure... (I do recognize that I don't work in construction for a reason). 

 

On another southend subject: I just spoke with a tenant in Sedgefield shopping center. He said that Marsh Properties is currently designing a 'renovated' shopping center on the site. He had no details and the timing appears to be uncertain. He was certain that the remodel would keep the property operating as a 'strip center' and many of the existing tenants would remain. I left with the impression that the changes will probably be limited to the facade -- bummer, I was honestly hoping for something 'transformative' here.

Edited March 20, 2013 by kermit

[kermit]

File under rumor:

 

I have heard that the vacant parcel at South and Remount is under contract (no details on the buyer) and the parcel on Remount between Youngblood and the LRT is nearing sale.

 

Colony's opening has been pushed from April to May (I don't think they are going to make May either)

 

Junction 15whatever appears to have had no trouble leasing units as they are finished.

[HopHead]

I have often wondered how much longer that lot at South and Remount would remain vacant (or not purchased). Will be interesting to see what would go there. Regardless that will eliminate the overflow parking for Mac's. Perhaps they could sublease some of the parking depending on what development goes in there.