The Good News Report

[KJHburg]

Now I see Chicago is missing too that is strange but every large west coast market is on there as well as every southern market but Raleigh.  But I would expect NYC would be fairly neutral since very high properties are dropping in price somewhat.  

[Guest]

2 hours ago, Crucial_Infra said:

“Southern” markets?

Portland Oregon, Seattle, Minneapolis, Columbus, Cincy, etc aren't Southern Markets

2 hours ago, Madison Parkitect said:

You're a homeowner in New York City? Hey guys, we found the wealthiest person on this forum!

Co-op owner** 

[KJHburg]

Maybe @CltDevelopment on Twitter and Instagram can post his first ever Crane-y Awards for Charlotte.    They were really good and you still see them on Instagram or Twitter including best new building, best outside space,  best place to see snow in July etc.   Some categories were tongue and cheek.  Some winners including BOAT at Legacy,  the Railyard,  Dimensional Funds, the Legacy Mega deck, most anticipated project.  

It inspired me to do The Best of N.C. from the Mountains to the Sea .   (this will exclude Charlotte since we are aware of everything here) but there are many great things happening across the state and that is why I put it in the good news section.  Check out CLT Developments best of list.    (All of these are under construction or recently opened or will be opening soon) 

Moving West to East from Asheville the redevelopment of the BB&T Building in downtown Asheville from a class B losing tenants office building into the Arras a  Kimpton Hotel and luxury condos.  The hotel is now open and now offers better pedestrian experience at street level and a modern looking building for  downtown Aville.   Photo 1 from November.   www.hotelarras.com 

Winston Salem:   500 West 5th Bldg.  Imagine if Charlotte had an 18 story office building vacant for 4 years as downtown WS had.  Local mega car dealer Flow Automotive bought the building renovated it and occupies a few floors for his back office operations.  However now all kinds of tenants have moved in from nonprofits, to business incubators, to coworking to financial tenants.  Now 80%  plus leased.  Sold some of the surround land to Grubb for an apartment community too.   https://www.500w5th.com/    Other best of from WS the latest addition to Innovation Quarter the Bailey Powerplant south building.  https://www.innovationquarter.com/

Greensboro:   Project Slugger new office tower first new office tower in downtown Greensboro I think in 20+ years.  Next to the Greensboro baseball stadium downtown.  Here is the UP thread on it  https://www.urbanplanet.org/forums/topic/118774-project-slugger-office-building-in-downtown-greensboro/page/3/#comments   Biggest project to make a splash is the soon to open Tanger Center for Performing Arts in downtown.  It is beautiful.   http://www.tangercenter.com/

Durham:  downtown Durham has lots of worthy projects but I really like one of the newest One City Center.  Tallest building in downtown.  Mixed used retail, office, apartments and condos with facade reconstructions to keep it in scale with the rest of the city from a pedestrian viewpoint.   Photo 2 building to left from Dec.   Also love 555 Mangum next to the Ballpark and near the DPAC.   Great looking building with companion apartment building.  http://www.555mangumst.com/  Will be the  home of NY based PolicyGenius 2nd HQ. 

Raleigh:   Raleigh has a lot of great projects ongoing like Charlotte.  The Dillon, Midtown at North Hills and the soon to open first phase of Smoky Hollow on the edge of downtown.  1st phase a 12 story apartment tower called Peace with ground floor Publix, next block over close to 300 more apartments and 9 story office building.  Check it out.  http://www.kanerealtycorp.com/project/smoky-hollow/ and Peace https://peaceraleighapartments.com/  Fantastic project bringing the first full sized grocery store downtown. 

Wilmington:   RiverPlace is a game changer for downtown Wilmington.  Ground floor retail,  for sale riverfront condos, rental apartments wrapping a public private parking garage.  Huge impact on the skyline.  https://www.riverplacewilmington.com/ for condos,  overview https://ewp-nc.com/project/river-place/  (full disclosure I did work for East West Partners for a time)

Outside the Metro award goes to the Rocky Mount Mills renovation.   One of the oldest textile mills in the state now office, retail, brewery, tiny house hotel, and apartments. https://www.rockymountmills.com/    My photos from Dec.  from the developers of ATC American Tobacco Campus in Durham.  Fantastic project. 

My winners are all of the above but Tanger Center for Performing Arts will change a city's downtown the most.   The good news is that urban renewal and redevelopment is happening all across NC.   so when you are travelling around the Tar Heel state like I do go by these sites and others and help me pick some for next years awards.  

The winner gets a Golden Pine cone! 

 

[CLT_sc]

36 minutes ago, KJHburg said:

Maybe @CltDevelopment on Twitter and Instagram can post his first ever Crane-y Awards for Charlotte.    They were really good and you still see them on Instagram or Twitter including best new building, best outside space,  best place to see snow in July etc.   Some categories were tongue and cheek.  Some winners including BOAT at Legacy,  the Railyard,  Dimensional Funds, the Legacy Mega deck, most anticipated project.  

It inspired me to do The Best of N.C. from the Mountains to the Sea .   (this will exclude Charlotte since we are aware of everything here) but there are many great things happening across the state and that is why I put it in the good news section.  Check out CLT Developments best of list.    (All of these are under construction or recently opened or will be opening soon) 

Moving West to East from Asheville the redevelopment of the BB&T Building in downtown Asheville from a class B losing tenants office building into the Arras a  Kimpton Hotel and luxury condos.  The hotel is now open and now offers better pedestrian experience at street level and a modern looking building for  downtown Aville.   Photo 1 from November.   www.hotelarras.com 

Winston Salem:   500 West 5th Bldg.  Imagine if Charlotte had an 18 story office building vacant for 4 years as downtown WS had.  Local mega car dealer Flow Automotive bought the building renovated it and occupies a few floors for his back office operations.  However now all kinds of tenants have moved in from nonprofits, to business incubators, to coworking to financial tenants.  Now 80%  plus leased.  Sold some of the surround land to Grubb for an apartment community too.   https://www.500w5th.com/    Other best of from WS the latest addition to Innovation Quarter the Bailey Powerplant south building.  https://www.innovationquarter.com/

Greensboro:   Project Slugger new office tower first new office tower in downtown Greensboro I think in 20+ years.  Next to the Greensboro baseball stadium downtown.  Here is the UP thread on it  https://www.urbanplanet.org/forums/topic/118774-project-slugger-office-building-in-downtown-greensboro/page/3/#comments   Biggest project to make a splash is the soon to open Tanger Center for Performing Arts in downtown.  It is beautiful.   http://www.tangercenter.com/

Durham:  downtown Durham has lots of worthy projects but I really like one of the newest One City Center.  Tallest building in downtown.  Mixed used retail, office, apartments and condos with facade reconstructions to keep it in scale with the rest of the city from a pedestrian viewpoint.   Photo 2 building to left from Dec.   Also love 555 Mangum next to the Ballpark and near the DPAC.   Great looking building with companion apartment building.  http://www.555mangumst.com/  Will be the  home of NY based PolicyGenius 2nd HQ. 

Raleigh:   Raleigh has a lot of great projects ongoing like Charlotte.  The Dillon, Midtown at North Hills and the soon to open first phase of Smoky Hollow on the edge of downtown.  1st phase a 12 story apartment tower called Peace with ground floor Publix, next block over close to 300 more apartments and 9 story office building.  Check it out.  http://www.kanerealtycorp.com/project/smoky-hollow/ and Peace https://peaceraleighapartments.com/  Fantastic project bringing the first full sized grocery store downtown. 

Wilmington:   RiverPlace is a game changer for downtown Wilmington.  Ground floor retail,  for sale riverfront condos, rental apartments wrapping a public private parking garage.  Huge impact on the skyline.  https://www.riverplacewilmington.com/ for condos,  overview https://ewp-nc.com/project/river-place/  (full disclosure I did work for East West Partners for a time)

Outside the Metro award goes to the Rocky Mount Mills renovation.   One of the oldest textile mills in the state now office, retail, brewery, tiny house hotel, and apartments. https://www.rockymountmills.com/    My photos from Dec.  from the developers of ATC American Tobacco Campus in Durham.  Fantastic project. 

My winners are all of the above but Tanger Center for Performing Arts will change a city's downtown the most.   The good news is that urban renewal and redevelopment is happening all across NC.   so when you are travelling around the Tar Heel state like I do go by these sites and others and help me pick some for next years awards.  

The winner gets a Golden Pine cone! 

 

What is the first building?  Crane-y awards were cool.

[KJHburg]

first photo is the Arras Hotel and condos downtown Asheville at Pack Square. 

[U_R_]

From the citydata thread 50 States & DC Q2 2019 GDP and 5-Year Growth Rate and data compiled by 18Montclair

https://www.city-data.com/forum/showthread.php?t=3115633&referrerid=2160197

Just from the data I saw, it still appears that GA and NC have been growing at great rates and are still neck and neck with each other.

[Crucial_Infra]

8 hours ago, Ric0_0 said:

From the citydata thread 50 States & DC Q2 2019 GDP and 5-Year Growth Rate and data compiled by 18Montclair

https://www.city-data.com/forum/showthread.php?t=3115633&referrerid=2160197

Just from the data I saw, it still appears that GA and NC have been growing at great rates and are still neck and neck with each other.

I wonder what the gain of Truist will add to NC and thus subtract from Ga. Also Honeywell 

[U_R_]

52 minutes ago, Crucial_Infra said:

I wonder what the gain of Truist will add to NC and thus subtract from Ga. Also Honeywell 

Hmm... I don't entirely think those deals will affect numbers too greatly except in the financial sector. Even then, Invesco/Synovus have already started to and will pick up some of the "scraps" of the BB&T merger and Suntrust. In addition, you have to take into account IBM's acquisition of RedHat, NS and Newell Brands moving to the ATL, and the big hiring sprees by companies in both NC and GA. 

However, NC definitely has GA beaten when it comes to Fortune 1000 HQs. Honeywell and the new Truist are undoubtedly larger than NS and Newell and will hire more people (esp. since Atlanta was already almost the Newell HQ). GA also lost a Fortune 1000 (TSYS) but will gain a new F500 (GP).

Anyways, I think both states will have strong prospects going into the 2020's. I think an interresting factor will be if GA's secondary cities will be able to grow and begin to compete better with their peers in NC,SC,etc.

[Crucial_Infra]

4 hours ago, Ric0_0 said:

I think an interresting factor will be if GA's secondary cities will be able to grow and begin to compete better with their peers in NC,SC,etc.

I just don’t see that happening because Georgia’s secondary cities are so much smaller compared to North Carolina’s but mostly because there is almost no interconnectivity between them unlike the multi nodes and synergy of NC and SC metros. Among Georgia’s top MSA’s, the closest would be Atlanta to Columbus at 108 miles, then Savannah to Augusta at 128 miles. Whereas, in North Carolina, even the more remote secondary MSA’s (Asheville and Wilmington) still have better proximity to multiple metros compared to Georgia. I could go pretty deep into these numbers if I had more time. Maybe a future post. Basically, every single NC metro is connected to *at least* one other MSA by no more than 93 miles and often much less. 

Edited January 4, 2020 by Crucial_Infra

[U_R_]

On Forbes's America's Largest Private Companies List there were four companies from NC that made the list.

Rank                                  Company                                            Revenue

86. American Tire Distributors Holdings                     5 Billion

121. Belk                                                                                          3.6 Billion

144. SAS                                                                                            3.3 billion 

201. Alex Lee                                                                                   2.3 Billion

Of the list, both ATD Holdings and Belk are headquartered in the Charlotte area (correct me if I'm wrong 0_0). Overall, that's some nice representation on the list with some large companies.

https://www.forbes.com/largest-private-companies/list/#tab:rank

 

Edited January 5, 2020 by Ric0_0

[CarolinaDaydreamin]

On 1/3/2020 at 4:34 PM, Ric0_0 said:

In addition, you have to take into account IBM's acquisition of RedHat...moving to the ATL, and the big hiring sprees by companies in both NC and GA. 

 

IBM isn't moving RedHat jobs to ATL. IBM's presence in Atlanta is actually quite limited vs what it was 15 years ago.

[U_R_]

14 minutes ago, CarolinaDaydreamin said:

IBM isn't moving RedHat jobs to ATL. IBM's presence in Atlanta is actually quite limited vs what it was 15 years ago.

Ahh no... I was using IBM’s acquisition of RedHat as a comparison for GA losing SunTrust. While they’re not the same, I was trying to show that there still an ebb and flow with companies with both NC and GA gaining and losing F1000 and F500 companies.

Edited January 5, 2020 by Ric0_0

[CarolinaDaydreamin]

Just now, Ric0_0 said:

Ahh no... I was using IBM’s acquisition of RedHat as a comparison for GA losing SunTrust. While they’re not the same, I was trying to show that there still an ebb and flow with companies with both NC and GA gaining and losing F1000 and F500 companies.

Oh gotcha. I think RTP will probably gain jobs bc of that acquisition but that makes sense.

[urbanlover568]

Charlotte ranks best in the state for a active lifestyle! 

https://wallethub.com/edu/best-and-worst-cities-for-an-active-lifestyle/8817/

[KJHburg]

Low tax and no income tax states continue to gain wealth from other high cost high tax states.  NC pulled in 4th highest amount of wealth according to the IRS after only Florida #1 and Texas and Arizona  And  SC was #5 on the list.    3 of the states on that list have income taxes and NC has lower  income taxes than  than  SC.   All of the states mentioned have a below national cost of living except for south Florida.  

https://www.foxbusiness.com/money/florida-revenue-windfall-movers-2018

[Dale]

30 minutes ago, KJHburg said:

Low tax and no income tax states continue to gain wealth from other high cost high tax states.  NC pulled in 4th highest amount of wealth according to the IRS after only Florida #1 and Texas and Arizona  And  SC was #5 on the list.    3 of the states on that list have income taxes and NC has lower  income taxes than  than  SC.   All of the states mentioned have a below national cost of living except for south Florida.  

https://www.foxbusiness.com/money/florida-revenue-windfall-movers-2018

My home state and adopted state log in at #1 and #4!

[urbanlover568]

NC is No. 3 for Uhaul relocations. That's awesome! RDU was the No. 1 city!!! 

http://myuhaulstory.com/2020/01/06/uhaul-names-top-growth-states-2019-florida-new-1/

[urbanlover568]

United Van Lines has NC at No. 9!!

https://www.unitedvanlines.com/newsroom/movers-study-2019

Quote

The top inbound states (with 250 moves or more) of 2019 were:

1. Idaho
2. Oregon
3. Arizona
4. South Carolina
5. Washington
6. District of Columbia
7. Florida
8. South Dakota
9. North Carolina
10. New Mexico

 

[KJHburg]

JLL talking about the office market in Charlotte and 56% of what is under construction is preleased and that is the average.

This why developers are pitching larger towers there is not a lot of space coming online believe it or not.  Think Lowes, Honeywell 100% preleased, 1st tower of Vantage Southend 70% preleased, Ally Bank Center 80-100% preleased (I get different amounts from different people) etc.

https://www.us.jll.com/en/views/snapshots/charlotte-snapshot-1-8-20-jll

[KJHburg]

Not sure if this is good news or bad news but this is one list you don't want to be #1 on and Charlotte comes in at #20   Congratulations on being #1 in Bedbugs Washington DC

Orkin's top 50 US city Bed Bug List

https://www.orkin.com/orkins-2020-bed-bug-cities-list

[CarolinaDaydreamin]

4 hours ago, KJHburg said:

Not sure if this is good news or bad news but this is one list you don't want to be #1 on and Charlotte comes in at #20   Congratulations on being #1 in Bedbugs Washington DC

Orkin's top 50 US city Bed Bug List

https://www.orkin.com/orkins-2020-bed-bug-cities-list

Is it so bad because the swamp hasn't been drained yet?

[KJHburg]

1 minute ago, CarolinaDaydreamin said:

Is it so bad because the swamp hasn't been drained yet?

If you ever spent a summer in the DC area you will know it is a swamp.  I did for 10 years and it is as humid as Florida in the summer.  

[U_R_]

6 hours ago, KJHburg said:

Not sure if this is good news or bad news but this is one list you don't want to be #1 on and Charlotte comes in at #20   Congratulations on being #1 in Bedbugs Washington DC

Orkin's top 50 US city Bed Bug List

https://www.orkin.com/orkins-2020-bed-bug-cities-list

Atlanta really exposed itself on this one 

[KJHburg]

14 minutes ago, Ric0_0 said:

Atlanta really exposed itself on this one 

Atlanta number 1 in bed bugs in the south and the home of the new Truist Park home of the Braves. 

[U_R_]

15 minutes ago, KJHburg said:

Atlanta number 1 in bed bugs in the south and the home of the new Truist Park home of the Braves. 

WoAh... we don't talk about Truist Park here in Atlanta. 0_0 

Maybe the Rollins execs are happy with all of the business they get in the ATL?