The Good News Report

[tozmervo]

I guess this is good news report material?

Chase Bank has announced plans for a branch location in Cornelius. https://www.corneliustoday.com/following-the-money-chase-plans-to-build-a-branch-in-cornelius/?fbclid=IwAR1OXWtgOKNpkGqMLwldZQn1G3hIzSHuImg--RdDGdC5o7xR1d_m1u02Dpo

If what I see online is accurate, Atlanta is the next closest location for a Chase branch. I'm aware of at least one other possible-but-not-announced branch location in Charlotte that is, AFAIK, still confidential. 

[EllAyyDub]

54 minutes ago, tozmervo said:

I'm aware of at least one other possible-but-not-announced branch location in Charlotte that is, AFAIK, still confidential. 

I wonder if we know the same one, or if there are multiple in the planning stages?

[tozmervo]

21 minutes ago, EllAyyDub said:

I wonder if we know the same one, or if there are multiple in the planning stages?

The one I know is supposed to be going into a really high profile location that would be so much cooler as literally anything other than a bank branch.

[cltcane]

19 minutes ago, tozmervo said:

The one I know is supposed to be going into a really high profile location that would be so much cooler as literally anything other than a bank branch.

The old Dean & DeLuca on Tryon?

[CLT>]

1 minute ago, cltcane said:

The old Dean & DeLuca on Tryon?

That's a US Bank Branch

[atlrvr]

Trade/Tryon at old SunTrust location.  Thought it was already on here somewhere.

[cltcane]

43 minutes ago, CLT> said:

That's a US Bank Branch

Thanks. Getting my bank branches in prime retail locations mixed up.

[KJHburg]

1 hour ago, atlrvr said:

Trade/Tryon at old SunTrust location.  Thought it was already on here somewhere.

I just remembered where this is or will be in 112 S Tryon Tryon Plaza building right?

[atlrvr]

Yep... it's great space.

[Cadi40]

Literally if you just replaced even half of the banks in Uptown with national retailers we would have a shopping mecca. 

[KJHburg]

7 hours ago, Cadi40 said:

Literally if you just replaced even half of the banks in Uptown with national retailers we would have a shopping mecca. 

They  can't afford the rents no they can put most are aren't expanding rapidly.  Barneys in NY declaring bankruptcy due in part to their rent being doubled in the last few years.  And from what I understand Manhattan has a higher retail vacancy than in the past.  

[Windsurfer]

31 minutes ago, KJHburg said:

They  can't afford the rents no they can put most are aren't expanding rapidly.  Barneys in NY declaring bankruptcy due in part to their rent being doubled in the last few years.  And from what I understand Manhattan has a higher retail vacancy than in the past.  

Sooner or later these big developers are going to understand just having retail in their building is a nice amenity.  It's kind of like the Thirsty Beaver stuation where the surrounding development is utilizing it as a draw.  If I were a billionaire and could afford to build a 50 story spec building, I'd guarantee at least two solid floors of shopping, books, etc. even if it meant offering space for free..... in order to fill my building.

[KJHburg]

5 minutes ago, Windsurfer said:

Sooner or later these big developers are going to understand just having retail in their building is a nice amenity.  It's kind of like the Thirsty Beaver stuation where the surrounding development is utilizing it as a draw.  If I were a billionaire and could afford to build a 50 story spec building, I'd guarantee at least two solid floors of shopping, books, etc. even if it meant offering space for free..... in order to fill my building.

I agree many Charlotte property owners would rather get $0 per month than rent to a retailer or restaurant   at a less than market rate.  Charlotte is not unique in this Manhattan is the one of the biggest examples of this. 

[15895]

8 hours ago, KJHburg said:

I agree many Charlotte property owners would rather get $0 per month than rent to a retailer or restaurant   at a less than market rate.  Charlotte is not unique in this Manhattan is the one of the biggest examples of this. 

 

Maybe it’s not even so much the property owner, rather, the lender. Lenders are very strict on ground leases. It effects the risk, underwriting, government regulations, a lot of these restaurants can’t even pay their rent for what the lender says the market price should be per sq. Ft. A lot of properties have retail/restaurant tenants as an amenity rather than a way to seek revenue. 

 

But it’s definitely not an easy process unless I guess a person owns the building. 

[urbanlover568]

North Carolina is first in South to ban state funding for conversion therapy

Gov. Roy Cooper signed an executive order calling the contentious practice "clinically and ethically inappropriate."

 

 

https://www.nbcnews.com/feature/nbc-out/n-carolina-first-south-ban-state-funding-conversion-therapy-n1038846?fbclid=IwAR1ETWzxFIPcYftMoNxePD6c9HpfF808jCzs0xK34_TS4dQYiEA9_M1Y15w

[Cadi40]

I’m a little concerned that they even had to ban it in the first place but it’s great news nonetheless!

[Windsurfer]

19 hours ago, AirNostrumMAD said:

 

Maybe it’s not even so much the property owner, rather, the lender. Lenders are very strict on ground leases. It effects the risk, underwriting, government regulations, a lot of these restaurants can’t even pay their rent for what the lender says the market price should be per sq. Ft. A lot of properties have retail/restaurant tenants as an amenity rather than a way to seek revenue. 

 

But it’s definitely not an easy process unless I guess a person owns the building. 

Isn't this a matter of the developer actually painting a clearer picture to the bankers?  Are bankers making these huge loans so restricted?

[KJHburg]

200 manufacturing and headquarters jobs coming with cabinet maker moving production from China to the old Duracell plant in Lancaster SC

https://www.bizjournals.com/charlotte/news/2019/08/15/cabinet-maker-to-bring-hq-manufacturing-facility.html

 

a strong region makes for an even stronger Charlotte. 

[Madison Parkitect]

Carvana signed a deal for the old Phillip Morris plant, bringing 300 jobs with an average pay of $40,500. Unclear yet what the jobs will be, but maybe vehicle processing and inspection. Carvana will get financial incentives but the incentives are performance-based.

https://www.bizjournals.com/charlotte/news/2019/08/16/carvana-proposes-35m-facility-300-plus-jobs-at.html

[C85]

1 hour ago, Madison Parkitect said:

Carvana signed a deal for the old Phillip Morris plant, bringing 300 jobs with an average pay of $40,500. Unclear yet what the jobs will be, but maybe vehicle processing and inspection. Carvana will get financial incentives but the incentives are performance-based.

https://www.bizjournals.com/charlotte/news/2019/08/16/carvana-proposes-35m-facility-300-plus-jobs-at.html

LOL. This was posted twice already.

[Matthew.Brendan]

Here's to many more Carvana towers all around the many Blue Line stops!

[Tyrone Wiggum]

Hey did you guys see this?

https://www.bizjournals.com/charlotte/news/2019/08/16/carvana-proposes-35m-facility-300-plus-jobs-at.html

[Madison Parkitect]

1 hour ago, C85 said:

LOL. This was posted twice already.

Where? I did a search for "Carvana" and "Phillip Morris" in this topic and nothing recent came up.

Edit: Oh, I see. It was posted in other topics. I thought this was the one for major job announcements.

Edited August 19, 2019 by Madison Parkitect

[rancenc]

This was from April of this year, but Statesville company expands with job creation!

https://www.statesville.com/business/new-jobs-test-kitchen-part-of-cheney-brothers-expansion-highlighted/article_4486c39e-32df-5b1f-aaea-c5adefe3889b.html

[CarolinaDaydreamin]

https://www.bizjournals.com/charlotte/news/2019/08/21/how-a-key-sponsorship-from-u-s-bank-will-help.html

New sponsorship for the Rail Trail. Interesting to see how US Bank expands here.