Metropolitan, Midtown Redevelopment

[SgtCampsalot]

4 hours ago, TheOneRJ said:

CPCC has got to be one of the nicest community colleges I’ve seen. 

It is one of the BEST in terms of quality of education and connection to jobs.

I enjoyed my classes at CPCC far more than my classes at university. 

[Cadi40]

CPCC is definitely a great branch of community colleges, All very nice campuses.

[KJHburg]

as someone who took classes at UCLA aka Univ. of Charlotte 'Lizabeth Ave CPCC their classes are great for the most part and CPCC is recognized as one of the best community colleges in the country. 

[Sigma]

17 hours ago, pathb said:

I can't believe how much real estate CPCC had wasted on parking - especially given the constraints of limited land nearby available for them to grow, their proximity to a transition line and transit hub. 

They are land banking surface lots in addition to all the small office buildings  and residential structures they own in the area.  Surface parking and low density admin offices are not their final play with these properties.

[KJHburg]

The new Charlotte Regional Association of Realtors building.  They also run the MLS here in Charlotte of course but also in Hickory area and Asheville Hendersonville area.

http://www.charlotteobserver.com/news/business/article205501634.html

Good riddance to the old floodplain and sometimes moldy building. 

[EllAyyDub]

Is the Pearl Park Way extension and/or the greenway Belk connector spur part of this project/site and/or happening concurrently?

[KJHburg]

12 minutes ago, EllAyyDub said:

Is the Pearl Park Way extension and/or the greenway Belk connector spur part of this project/site and/or happening concurrently?

I think it is from what I understand. for this building is basically in back of the existing building. 

[Vitamin_N]

The O on the on the new Regional Realtors Association building, plus an update on the rest of the site:

The association has agreed to sell its holdings to Pappas for a total of $20.1 million. So far, Pappas has already spent $14 million assembling land for the planned mixed-use development around the Realtor association building. Previously approved plans show the development would include about 200 apartments, additional new office space, a hotel with up to 150 rooms, shops, restaurants and changes to Pearl Street Park.

But CEO Peter A. Pappas said at Wednesday's groundbreaking that those plans are still in flux. Now, in the next phase, Pappas is planning to build a 215,000 square-foot office building, shops, restaurants, a parking deck and a full-service hotel, followed by another office building.

Apartments are still possible, but Pappas said his company is responding to strong demand from potential office tenants and changing market conditions. There are more than 600 apartments already under construction across Kenilworth Avenue, in addition to 500 more on Morehead Street which have opened in the past few years.

"It's market-driven," Pappas said of the shifting plans. The full development will take about four years to build. "We've gotten a lot of interest from office users."

[go_vertical]

Four years sounds pretty ambitious for the full build out. I really hope it plays out that quick but I'm not holding my breath. This would remove a big dead spot between midtown and dilworth.

[Guest]

27 minutes ago, go_vertical said:

Four years sounds pretty ambitious for the full build out. I really hope it plays out that quick but I'm not holding my breath. This would remove a big dead spot between midtown and dilworth.

We should henceforth refer to this area s Midworth

[sclark]

any thoughts about the aforementioned full-service hotel?

[Vitamin_N]

11 minutes ago, ricky_davis_fan_21 said:

We should henceforth refer to this area s Midworth

*sigh* Midworth is sooo yesterday... true hipsters call it "MiWo".

[DMann]

Or Dilitian!

[dubone]

But since Dilworth has a good brand, and this is actually in Dilworth, we all know everyone is just going to call it "Dilworth" even the hipsters.  

[videtur quam contuor]

My mother was a fan of Miltown

[UPNoDa]

Definitely Dilworth on that side of Sugar Creek.  I always considered everything on other side of Pearl Park bridge Midtown.

[Vitamin_N]

Apparently the Metropolitan Cherryberry has closed. I guess the froyo trend is over?

[KJHburg]

Does anyone know when this 25 story Levine owned hotel and apartment tower will be starting?   It seems stalled out and I am shocked I tell you.   Story from 2014

https://www.bizjournals.com/charlotte/blog/real_estate/2014/02/rezonings-levine-propertiesseeks-to-add-hotel.html

Perhaps this lot and in addition to the ample acreage uptown can be a  part of KJ's Crops for Homeless and Needy program.  Lets till it up plant rows of corn, tomatoes, beans etc 

and yes this rezoning from 2014 was approved here it is.

http://charlottenc.gov/planning/Rezoning/RezoningPetitions/2014Petitions/Pages/2014-030.aspx

 

Edited March 27, 2018 by KJHburg

[tozmervo]

3 hours ago, Vitamin_N said:

Apparently the Metropolitan Cherryberry has closed. I guess the froyo trend is over?

A new froyo opened literally days ago in Cornelius. When I saw the announcement I thought Obama might still be president it was so disorienting. 

[Vitamin_N]

12 hours ago, KJHburg said:

Perhaps this lot and in addition to the ample acreage uptown can be a  part of KJ's Crops for Homeless and Needy program.  Lets till it up plant rows of corn, tomatoes, beans etc 

Or maybe a pumpkin patch?

 

[RiverwoodCLT]

Levine says he does not know how to build hotels.

[KJHburg]

^^^ If that is the case then why not sell or partner with some one.   People forgot about the missing tower proposed at Metropolitan.  I can only imagine what kind of great views a tower of the height there would have.  It would be great over the high power lines right into the uptown skyline.    It is another example of Levine tying up a piece of property and no action is taken on it.   Then sell it or partner with someone.  

[J-Rob]

Here is a serious question I am hoping someone can help me out with.  Obviously the Levine's have money, but how can they afford to just sit on all of these properties and never generate money off of them?  I get land-banking within reason, but again, for that to be sustainable at some-point they have to generate revenue.

[deleted]

14 minutes ago, J-Rob said:

Here is a serious question I am hoping someone can help me out with.  Obviously the Levine's have money, but how can they afford to just sit on all of these properties and never generate money off of them?  I get land-banking within reason, but again, for that to be sustainable at some-point they have to generate revenue.

Parking revenue in some cases...otherwise, it's safe to say that they made a lot of money by just sitting on the land.  The value has appreciated considerably and surrounding development will only make it more valuable.  I'm sure they made a ton on the Lennar deal and it wouldn't surprise me if they continue to sell off pieces.  He's not generating cash flow but he's making a lot of money.

BTW, I detest Levine and how he has held that part of Uptown hostage.  However, I'd like to think development standards will be more stringent by the time that land gets developed.  Something in five years from a good developer will likely be much better than a Levine development 5 years ago...

[go_vertical]

5 hours ago, KJHburg said:

People forgot about the missing tower proposed at Metropolitan.

It's not that people forgot about it, it's more that people who are aware of who Levine is simply dismissed it from day one. I was trying my best to give him the benefit of the doubt when word of this one got out, but that bridge is a smoldering pile now.