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Metropolitan, Midtown Redevelopment

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On 5/2/2016 at 2:23 PM, ricky_davis_fan_21 said:

I'm fine with the level of EFIS. Its the random white boxes of EFIS above them that is my problem.

I'm guessing those are hiding the HVAC units on the roof. Basing this on apartment roofs I can see outside my office window. 

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On January 8, 2016 at 4:45 PM, Prodev said:

Just heard Petco and Sleepy's are taking the remaining space adjacent to BJs at Metro.

Petco is opening soon below Target. Signage is already up on the building and parking garage, and work is being done inside. I have a feeling that no mattress store will be opening in between Petco and BJ's, though (horrible loss, I know). Sleepy's was just purchased by The Mattress Firm and there is already a Mattress Firm across the street on King's.

Edited by ScottCLT

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Don't doubt that it won't be done. Rivergate in Steele Creek had a Mattress Firm then with the expansion opened a Sleepys. Across 160 they just opened another Mattress Firm and it was after Mattress Firm bought Sleepys. Mattress stores are one of the biggest mysteries of the universe. All 3 are always empty yet there's a profit somewhere to justify all 3 being there. This happens all over the place so I wouldn't doubt something dumb like this couldn't happen here. But I really hope you're right and logic prevails. 

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1 hour ago, 11 HouseBZ said:

Don't doubt that it won't be done. Rivergate in Steele Creek had a Mattress Firm then with the expansion opened a Sleepys. Across 160 they just opened another Mattress Firm and it was after Mattress Firm bought Sleepys. Mattress stores are one of the biggest mysteries of the universe. All 3 are always empty yet there's a profit somewhere to justify all 3 being there. This happens all over the place so I wouldn't doubt something dumb like this couldn't happen here. But I really hope you're right and logic prevails. 

It wasn't that long ago that Mattress Firm bought Sleepys. Not even a year ago. That store was likely already underway with leases signed before the buyout ever happened. I would be surprised to see one open in metropolitan personally.

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3 hours ago, Niner National said:

It wasn't that long ago that Mattress Firm bought Sleepys. Not even a year ago. That store was likely already underway with leases signed before the buyout ever happened. I would be surprised to see one open in metropolitan personally.

There have been two Mattress Firms across the street from each other in Huntersville for years. Nothing to do with Sleepy's, just two MFs diagonally across the same intersection. It happens.

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12 minutes ago, ScottCLT said:

Interesting article on mattress stores. Apparently they have such a high margin can sell just a couple a day and stay in business. Or in a mall they just just need to sell 20 per month to stay in business. 

http://wgntv.com/2016/03/16/why-are-there-so-many-mattress-stores-and-how-do-they-stay-in-business/

I worked at Sears when I was in college and it was always fun to go around and scan things to see the retail cost vs what our cost was. Mattresses were usually marked up several hundred percent.

Appliances were usually marked up about 100% at normal retail price.

Electronics were barely marked up at all, except for the really high end televisions. Game consoles, Apple products, movies, and video games had $1-3 profit in most cases.

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3 hours ago, Niner National said:

I worked at Sears when I was in college and it was always fun to go around and scan things to see the retail cost vs what our cost was. Mattresses were usually marked up several hundred percent.

Appliances were usually marked up about 100% at normal retail price.

Electronics were barely marked up at all, except for the really high end televisions. Game consoles, Apple products, movies, and video games had $1-3 profit in most cases.

Which is why my parents used to have ours custom made for less money on South Blvd

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Mattress Firm has actually done extensive research about how people buy mattresses.  They have found that people generally buy mattresses in the second store they visit.  My understanding is that the logic is that it is a large purchase so they shop around but everyone carries the same mattresses for about the same price (especially after a price match). So Mattress Firm actually wants to have two stores with mostly overlapping footprints.  This is also another reason people do not expect them to rebrand Sleepy's stores to MF stores, but to actually continue building Sleepy's.

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4 minutes ago, pgsinger said:

Mattress Firm has actually done extensive research about how people buy mattresses.  They have found that people generally buy mattresses in the second store they visit.  My understanding is that the logic is that it is a large purchase so they shop around but everyone carries the same mattresses for about the same price (especially after a price match). So Mattress Firm actually wants to have two stores with mostly overlapping footprints.  This is also another reason people do not expect them to rebrand Sleepy's stores to MF stores, but to actually continue building Sleepy's.

That is a bit crazy and awesome at the same time.  

 

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9 minutes ago, cjd5050 said:

That is a bit crazy and awesome at the same time.  

"Brilliantly insidious" was the phrase that came to my mind :)

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Nice find!

I agree the first tower looks better, but I like the second one alot better at street/greenway level. The first one has a monolithic wall facing the greenway which would really kill the great pedestrian experience down there. I like how the second proposal has units facing the greenway. 

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I agree - couldn't put my finger on why I liked the second more but it is that base presence on the greenway/ivy wall.  Can we mix and match the first tower with the second's base? :)

Though the way Levine moves I won't be around to ever see this thing get built anyways..

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11 hours ago, rjp212 said:

Randomly came across these design proposals for Levine's Metropolitan Tower.  I like the first proposal better.  

 

Source:  http://www.bokapowell.com/project/charlotte-mixed-use-tower/

 

 

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I didn't post these a while back? :-( Must have just circulated them through text message. 

I'm also a big fan of the first one. I think there is a Curio Hotel attached to this project, if I remember correctly. 

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6 minutes ago, RaleighHeelsfan said:

Love the first one. But all are ok. What is the timeline for this one? Just wondering so I can tack another 10 years on to that date...:tw_glasses:

The 285 foot tall Hotel/Apartment tower has not gotten a completion date set yet. So add 10 years onto NEVER.

 

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Will it have retail for another Mattress Firm in this corridor, perhaps a spot facing Kings?

Edited by CLT2014
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1 hour ago, CLT2014 said:

Will it have retail for another Mattress Firm in this corridor, perhaps a spot facing Kings?

There is a noncompete agreement with Pappas Properties to not include retail for at least 10 years from completion. :-( Though I admit I don't know when the timeline started. The initial agreement was signed in 2012, so Its entirely possible that the agreement is up in 2022, depending on when the start date of the agreement is; completion, land purchase, groundbreaking, proposal, etc.

Edited by ricky_davis_fan_21

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