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Just now, cjd5050 said:

By 'bring into the 21st century' you mean blow it up and build something new?  I hope....

Nope :-( I wish I did. Heard from two separate people that Duke is no longer looking for space.

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42 minutes ago, CLT2014 said:

Tim Sloan actually lives in a suburb of Los Angeles and commutes to the San Francisco HQ when necessary - he probably won't relocate to San Francisco or Charlotte as CEO now. He'll fly up to SF Tue - Thur, work at home or be traveling to other cities other days of the week. He won't be moving his personal residence in his mid 50's when his kids and grandchildren are in Southern California. His wife is going to want to be in the same social network, near her kids/grandkids, and I'd be shocked if she was willing to trade being near her kids to be near her in-laws, haha (it is the same situation with Moynihan at BofA). If anything he might get a condo here in CLT and commute back and forth, but that is harder to do that than the 50 minute flight from Los Angeles to SF. I'd expect Charlotte's role to remain the same under Sloan - the location where most of the growth happens, lots of senior management positions (including more and more of Community Banking leadership), and an affordable place to do banking. 

It's not his in-laws that live in Davidson.  It's his parents.  But you do make some good points on the reasons why he would not leave LA.  I also didn't know that LA was his home, as I just incorrectly assumed it was SF.  

Looking at the glass as half full, I guess having a CEO in LA can be considered the next best thing as there is not the same loyalty to SF.  Add to this it appears a lot of the issues at WF are from a management culture in SF....Charlotte be a place of focus simply due to it's distance.  

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7 minutes ago, cjd5050 said:

It's not his in-laws that live in Davidson.  It's his parents.  But you do make some good points on the reasons why he would not leave LA.  I also didn't know that LA was his home, as I just incorrectly assumed it was SF.  

Looking at the glass as half full, I guess having a CEO in LA can be considered the next best thing as there is not the same loyalty to SF.  Add to this it appears a lot of the issues at WF are from a management culture in SF....Charlotte be a place of focus simply due to it's distance.  

I meant that his parent's would be his wife's in-laws. I don't think Mrs. Sloan is moving from her deep social network in the Pasadena, CA area (she is on a ton of boards, social clubs, highly involved in San Marino Community Church, etc....), her college aged and adult kids, and her grandkids for the selling point of living near her husband's parents in the Charlotte area. 

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1 hour ago, CLT2014 said:

I meant that his parent's would be his wife's in-laws. I don't think Mrs. Sloan is moving from her deep social network in the Pasadena, CA area (she is on a ton of boards, social clubs, highly involved in San Marino Community Church, etc....), her college aged and adult kids, and her grandkids for the selling point of living near her husband's parents in the Charlotte area. 

Ya.  I can see that.  I can see if having the choice and option to be a remote CEO you would do it.

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45 minutes ago, JBS said:

OMG 

Charlotte Stories is literally the worst. EVER

Someone on this board photoshopped that in 2007.

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3 hours ago, JBS said:

I've said it once, I'll say it again. Friends don't let friends read (fall for) charlottestories. In this case fellow UP posters. They are the absolutely worst ever. 

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Charlotte Tops List of Nation's Busiest Submarkets for New Apartment Construction

The Charlotte Business Journal's Jenna Martin looks at MPF Research data that show the Uptown/South End submarket of Charlotte, N.C., to be the busiest in the nation for new units coming on line.

http://www.multifamilyexecutive.com/newsletter/charlotte-tops-list-of-nations-busiest-submarkets-for-new-apartment-construction_c

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35 minutes ago, RiverwoodCLT said:

Charlotte Tops List of Nation's Busiest Submarkets for New Apartment Construction

The Charlotte Business Journal's Jenna Martin looks at MPF Research data that show the Uptown/South End submarket of Charlotte, N.C., to be the busiest in the nation for new units coming on line.

http://www.multifamilyexecutive.com/newsletter/charlotte-tops-list-of-nations-busiest-submarkets-for-new-apartment-construction_c

When does it end, though? Will there be a market correction, or a crash? I'm curious how long single-family home prices can stay as high as they are.

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36 minutes ago, SgtCampsalot said:

When does it end, though? Will there be a market correction, or a crash? I'm curious how long single-family home prices can stay as high as they are.

Not sure I see a crash but maybe a market correction.  

Not sure you're considering just how much bang for your buck you get in Charlotte compared to other places.  Especially when it comes to taxes.  

People might think a $600k home in Plaza Midwood might be paying too much but the same priced house in many northern states comes with a $14,000+ tax bill compared to around $5,000 here.  Unless taxes are raised to match other states people are buying with 'free money' so to speak.  

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1 hour ago, RiverwoodCLT said:

Charlotte is adding about 19,000 people a year, so the market can can support the most of  the apartments built.

2016-10-14_144128_zpsi9qazirl.png

 

54 minutes ago, cjd5050 said:

Not sure I see a crash but maybe a market correction.  

Not sure you're considering just how much bang for your buck you get in Charlotte compared to other places.  Especially when it comes to taxes.  

People might think a $600k home in Plaza Midwood might be paying too much but the same priced house in many northern states comes with a $14,000+ tax bill compared to around $5,000 here.  Unless taxes are raised to match other states people are buying with 'free money' so to speak.  

Good points. This whole Southern Neo-liberalism thing is a wild dynamic to see at work.

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Barring another major recession in the near or not too distant future Charlotte appears to be poised for a brisk but somewhat manageable level of job growth. As long as the jobs keep arriving so will the new residents. I wouldn't be surprised if we soon see a slight slowdown in projects announced. Though, with even a brief pause in construction the sheer number of people moving to the city would prompt developers to start it all back up in no time.

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To put it in terms of growth, Charlotte added 95,673 from 2010 to 2015,  and I am sure it now is over 100,000 people. With a population that is  approximate  846,232 in July 2016. So what we have seen in apartment growth, does not surprise me at all.  It is simple as supply and demand.

Edited by RiverwoodCLT
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GoHealth is opening a new office bringing about 525 jobs to Charlotte during open enrollment. An estimated 100 more jobs are expected to come in 2017.

Charlotte's economy is continuing to boom on both the jobs/economic side of things and the development side. 

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2 hours ago, CLT2014 said:

GoHealth's has leased 1000 Louis Rose Place in University City for the new Charlotte office. That building was the original Red Ventures HQ before the move to Indian Land.

that was Red Ventures university space but they moved to Cambridge Corporate Center in the University Research Park. This space which has workstations and everything was the site of PayPal's new Charlotte office that never opened. They were going to sublease from Red Ventures who had already moved so it is great someone is going in that space now. 

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