The Good News Report

[KJHburg]

I always give this case back in the 1980s Royal Insurance moved 600 families down to Charlotte from NYC and gave everyone the opportunity to move back after a year on the company dime.  From an employee I heard only 2 took them up and for family reasons had to go back.   I even know a couple that moved with Royal that where the husband loved it here and wife stayed in NYC not sure of their status now but he is still here. 

I know of families from northern NJ, CT and Long Island and none of them would ever consider going back and some don't even like to visit up there anymore.  several brought their parents down here with them. 

[HighRiseHillbilly]

11 hours ago, Bruco72 said:

I’ve watched a lot of that show and that’s the most negative I’ve seen someone be about a new city.

0% surprised it came from someone moving from NYC

His husband seemed better and it was certainly his job that brought them here (bank security)

Seriously so condescending. This is not some haystack, and even if it was, there's no need to be a jerk about it.

[Nick2]

8 hours ago, HighRiseHillbilly said:

Seriously so condescending. This is not some haystack, and even if it was, there's no need to be a jerk about it.

You have to keep in mind they're encouraged to be over the top for the show or sometimes even straight up scripted to say what they do. 

But I have met people from NYC and elsewhere who have a simple sentiment. That is at least until they've lived here a little while and completely change their mind lol

[QCxpat]

Today's CBJ - "Specialty grocer Reid's doubles down on Uptown, targets summer opening for new store," by Jennifer Thomas, 03/21/2019.

Excerpt:  "Reid’s Fine Foods  ... has signed a lease for 2,613 square feet on the first floor of The Duke Energy Center, at 550 S. Tryon Street.  The goal is to open that location somewhere in the August time frame, says Tom Coker,  managing partner.  It is currently in the permitting process.  Expect that location to serve breakfast, lunch and dinner with dine-in and to-go options, fresh foods and a deli.  It also will have a wine bar and offer catering.   “Obviously, town is expanding that way.  We feel as though a second location is needed,” Coker says. This marks the fourth Charlotte location for Reid’s, following stores in Myers Park and SouthPark.  Its first uptown store opened last July at 121 West Trade, at the corner of Trade and Tryon streets.

LInk:  https://www.bizjournals.com/charlotte/news/2019/03/21/specialty-grocer-doubles-down-on-uptown-targets.html?

[CLT2014]

Very nice addition to that side of town. I'm sure it will do extremely well, especially at lunch.  Any idea which spot is vacant that they will be occupying? Probably in that alley way between the Mint Museum?

Edited March 21, 2019 by CLT2014

[Matthew.Brendan]

That’s fantastic news. Agreed, I’m sure I’ll hit it up for lunch. 

[Guest]

Today's CBJ - "Specialty grocer Reid's doubles down on Uptown, targets summer opening for new store," by Jennifer Thomas, 03/21/2019.

Excerpt:  "Reid’s Fine Foods  ... has signed a lease for 2,613 square feet on the first floor of The Duke Energy Center, at 550 S. Tryon Street.  The goal is to open that location somewhere in the August time frame, says Tom Coker,  managing partner.  It is currently in the permitting process.  Expect that location to serve breakfast, lunch and dinner with dine-in and to-go options, fresh foods and a deli.  It also will have a wine bar and offer catering.   “Obviously, town is expanding that way.  We feel as though a second location is needed,” Coker says. This marks the fourth Charlotte location for Reid’s, following stores in Myers Park and SouthPark.  Its first uptown store opened last July at 121 West Trade, at the corner of Trade and Tryon streets.

LInk:  https://www.bizjournals.com/charlotte/news/2019/03/21/specialty-grocer-doubles-down-on-uptown-targets.html?

I’d call it fancy ass bodega. It’s disingenuous to call it a grocery store in this format.


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[Guest]

Very nice addition to that side of town. I'm sure it will do extremely well, especially at lunch.  Any idea which spot is vacant that they will be occupying? Probably in that alley way between the Mint Museum?

It’s in the old Levant space


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[HighRiseHillbilly]

15 hours ago, Nick2 said:

You have to keep in mind they're encouraged to be over the top for the show or sometimes even straight up scripted to say what they do. 

But I have met people from NYC and elsewhere who have a simple sentiment. That is at least until they've lived here a little while and completely change their mind lol

I have actually worked on a similar production before. Yes, people can be encouraged to exaggerate emotions to prove some point and add "drama", but they usually come up with what to say on their own.

[Nick2]

41 minutes ago, HighRiseHillbilly said:

I have actually worked on a similar production before. Yes, people can be encouraged to exaggerate emotions to prove some point and add "drama", but they usually come up with what to say on their own.

Interesting. I was under the impression from someone I know that those shows are fairly heavily scripted. But I think that could specifically be for love it or list it (filmed in the triangle btw if anyone didn't know). 

[Bruco72]

1 hour ago, ricky_davis_fan_21 said:

It’s in the old Levant space


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How that place stayed open as long as it did is a mystery. I swear I never saw anyone in the place 

[videtur quam contuor]

http://polaris3g.mecklenburgcountync.gov/#mat=73942&pid=07101203&gisid=07101203

 

This is the house for our House Hunters. 214 Grandin Road. The Polaris shows no change of ownership in 21 years. Online real estate says sold in July 2018. If there are any conclusions you are free to draw them. It is the Grandest house in the neighborhood other than the Wadsworth House. There is a contractor sign at the house during a driveby today. No sign of work or change from the view during the show so¯\_(ツ)_/¯

Edited March 22, 2019 by tarhoosier

[Dale]

5 minutes ago, tarhoosier said:

http://polaris3g.mecklenburgcountync.gov/#mat=73942&pid=07101203&gisid=07101203

 

This is the house for our House Hunters. 214 Grandin Road. The Polaris shows no change of ownership in 21 years. Online real estate says sold in July 2018. If there are any conclusions you are free to draw them. It is the Grandest house in the neighborhood other than the Wadsworth House. There is a contractor sign at the house during a driveby today. No sign of work or change from the view during the show so¯\_(ツ)_/¯

They probably bailed because we don’t have buses.

[KJHburg]

No it did sell the HGTV  house hunters home  for $520,000 7/12/2018 to one of the buyers featured.  I just checked it again.  there was a vacant lot with the same address that sold separately it looks like to someone else or to a LLC.    

[Nick2]

Oh wow! That same house sold for only 98k back in 1997. Talk about a killer investment.

[tarwater]

22 minutes ago, Nick2 said:

Oh wow! That same house sold for only 98k back in 1997. Talk about a killer investment.

Is it? No idea! Let's see. That's 21 years, at a roughly 8.3% (non-inflation adjusted) annual growth rate. Nice, that *does* handily beat the S&P annualized returns at 7.349% (not adjusted) over the same period. But they also had to pay for 21 years of maintenance, utilities, and cumulative property tax bill of about 47k (partially-adjusted, best guess...). Yikes. 47k/21yrs = 2.23k per year tax expenses, but let's 2k more per year for miscellaneous expenses to 4.23k/yr and pop that into a compound interested calculator. 98k principle, 4.2k yearly addition, at 7.349% interest rate over 21 years equals $646,765. A good bit more money than they made with the house sale. And holy crap, the numbers get a lot worse if they had a mortgage.

I don't know much about real estate or even math, but it seems to me you should buy a house if you want to live in a house. If you want an investment, put the money somewhere else.

[cltheel.sdl]

52 minutes ago, tarwater said:

Is it? No idea! Let's see. That's 21 years, at a roughly 8.3% (non-inflation adjusted) annual growth rate. Nice, that *does* handily beat the S&P annualized returns at 7.349% (not adjusted) over the same period. But they also had to pay for 21 years of maintenance, utilities, and cumulative property tax bill of about 47k (partially-adjusted, best guess...). Yikes. 47k/21yrs = 2.23k per year tax expenses, but let's 2k more per year for miscellaneous expenses to 4.23k/yr and pop that into a compound interested calculator. 98k principle, 4.2k yearly addition, at 7.349% interest rate over 21 years equals $646,765. A good bit more money than they made with the house sale. And holy crap, the numbers get a lot worse if they had a mortgage.

I don't know much about real estate or even math, but it seems to me you should buy a house if you want to live in a house. If you want an investment, put the money somewhere else.

You aren't contemplating the fact that they were probably in for only ~$20K plus the interest expense tax write-off on their mortgage.  It is a win, as is most long-held leveraged real estate.

[Nick2]

@tarwater I think you're taking a few too many liberties into your math there. I also don't know much about math or real estate but those numbers make no sense, however I have taken real estate courses in college and of course plenty of financial math so I'd beg to differ.

Did you subtract the potential costs of having to rent? What about increased commute time to work with gas/car maintenance? Future value of the property that is almost guaranteed to increase greatly and  quickly in coming years due to it's proximity to uptown? Are you assuming someone didn't even touch their account at all with the s&p for 20 years or lose their ass in the dot come bust or the recession?

I'm not feeling like going into the nitpicky details with this but there is no way in hell that this specific property wouldn't have been a great investment at that price 20 years ago. There are so many variables that you didn't include from an investment standpoint. Also you can't buy history. 100 yrs old is a massive value to many people on its own.

[11 HouseBZ]

[atlrvr]

Not to make this a nerdy discussion, but while tarwater's math was fairly accurate, and he noted his expenses were partially adjusted for inflation, Nick2 did point out the biggest mistake in the assumption, which was if 1) this was owner occupied, then the investment in the S&P would have to be reduced annually by rent payments to live somewhere else 2) if this was a rental property, the expenses would be far more than offset by rental income...... either way, owning this house would have achieved > 5% higher annual returns than stocks.

The tarwater example, really only works for second/vacation homes that the owner never rents out....which really are bad ideas if investment is the primary goal.

[U_R_]

The new rollercoaster Cooperhead Strike is about to open at Carrowinds. I believe the media day was yesterday.

[CLTProductions]

10 minutes ago, Ric0_0 said:

The new rollercoaster Cooperhead Strike is about to open at Carrowinds. I believe the media day was yesterday.

It was Thursday. The ride is super fun

[KJHburg]

another international soccer match is coming to the Bank.  

Rome vs Arsenal  July 20 

https://www.bizjournals.com/charlotte/news/2019/03/27/arsenal-as-roma-headed-to-charlotte-for-summer.html?ana=TRUEANTHEMTWT_CH&utm_campaign=trueAnthem:+Trending+Content&utm_content=5c9bc8633ed3f0000171f3c3&utm_medium=trueAnthem&utm_source=twitter

[KJHburg]

This is not anything we don't know but I do think many under appreciate how much uptown Charlotte is growing in office space.  JLL ranks uptown Charlotte as top in its peers in office construction.  We get on this board too picky about this design or height or color of a building but many cities would love to have something to pick at!  Check it out 

http://businessnc.com/office-space-construction-makes-charlotte-hot-spot-for-national-development/?highlight=JLL

[tozmervo]

13 minutes ago, KJHburg said:

This is not anything we don't know but I do think many under appreciate how much uptown Charlotte is growing in office space.  JLL ranks uptown Charlotte as top in its peers in office construction.  We get on this board too picky about this design or height or color of a building but many cities would love to have something to pick at!  Check it out 

http://businessnc.com/office-space-construction-makes-charlotte-hot-spot-for-national-development/?highlight=JLL

I can't figure out where Raleigh is building 2 million SF of office space. Certainly there's a couple of midrises in downtown - is that number for the entire Triangle?