Ballantyne

[HighRiseHillbilly]

11 hours ago, kermit said:

It was nice of the county to provide this textbook image illustrating why sprawl reduces productivity. In a world where money is made by skilled people interacting with other skilled people this may be the stupidest arrangement of space imaginable.

 

 

 

I have a blue light filter on my phone and I though those were random grassy patches. What in the parking hell.... 

[Guest]

The project at Ballantyne Village is being financed by the federal EB-5 funding program, as is the Intercontinental in Uptown. (Cynically, EB-5 sells US Green cards to foreigners if they are willing to invest a lot of money in risky projects and make below market returns)
That program is having issues at the moment, some related to fraud, but the bigger issues are the increasing wait times for green cards, which is making investors nervous.

[emoji15]


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[KJHburg]

New Toringdon 7 the 8 level Gensler designed office building that is about 70,000 sq ft pre leased out of 198xxx sq ft building.  And the new Hampton Inn at Toringdon.   I think Ballantyne and Northwood really missed the boat not starting another office building in Ballantyne.  Today. 

[KJHburg]

New 11 story office building to be started next month in Ballantyne and along with an apartment tower of some size.  First for new owners Northwood and Northwood Ravin is doing the apartments.  

https://www.bizjournals.com/charlotte/news/2019/05/09/first-look-northwoods-first-development-as-owner.html

[Matthew.Brendan]

Fantastic.... is 11 stories a new-tallest for Ballantyne? Great that there are apartments being added as well.

Now where are the express light rail trains to uptown *cough cough*

[KJHburg]

19 minutes ago, Matthew.Brendan said:

Fantastic.... is 11 stories a new-tallest for Ballantyne? Great that there are apartments being added as well.

Now where are the express light rail trains to uptown *cough cough*

11 stories would be the new tallest for Ballantyne yes and I think an extension to Ballantyne by LYNX is something Northwoods would support in the future. 

[Hushpuppy321]

Do you guys think an Apartment Tower in Ballantyne (My guess is 8 to 10 stories) would do well in the Corporate Park?  I can understand towers in Southend (Hawk) or Uptown but one in Ballantyne?  The Park does have sidewalks throughout but strikes me as much more Car Centric so not sure how well Apartments would do here. 

Another question is does the Ballantyne Village Area fall under Northwood Ravins purchase of the Corporate Park?  Was talk many years ago about an Apartment Tower above the parking deck there.

Edited May 9, 2019 by Hushpuppy321

[KJHburg]

1 minute ago, Hushpuppy321 said:

Do you guys think an Apartment Tower in Ballantyne (My guess is 8 to 10 stories) would do well in the Corporate Park?  I can understand towers in Southend (Hawk) or Uptown but one in Ballantyne?  The Park does have sidewalks throughout but strikes me as much more Car Centric so not sure how well Apartments would do here. 

Another question is does the Ballantyne Village Area fall under Northwood Ravins purchase of the Corporate Park?  Was talk many years ago about an Apartment Tower above the parking deck there.

As there are no real suburban midrise apartments hard to say.  But if the rents are somewhat comparable to new complexes in the area I would say yes.  People love views and this would have a golf course view. 

Ballantyne Village is not owned by Northwood.  and yes an apartment tower was talked about there too and a hotel but not sure anything solid has happened.  

[FreeOpinions]

12 hours ago, KJHburg said:

New 11 story office building to be started next month in Ballantyne and along with an apartment tower of some size.  First for new owners Northwood and Northwood Ravin is doing the apartments.  

https://www.bizjournals.com/charlotte/news/2019/05/09/first-look-northwoods-first-development-as-owner.html

Very exciting!

Maybe this will start a Development trend of densifying the corporate park with true mixed use.

[Guest]

3 minutes ago, FreeOpinions said:

Very exciting!

Maybe this will start a Development trend of densifying the corporate park with true mixed use.

I think you should figure out how to check your Urban Planet inbox.

Edited May 10, 2019 by Guest

[KJHburg]

UNCC Urban Inst. article about adding higher density apartments to Ballantyne (there are apartments there now just low rise suburban type garden apartments) 

https://ui.uncc.edu/story/Ballantyne-SouthEnd-Office-Apartments

they point out it is as interesting a development as all the Class A office space being added to South End where there was none before.  

[49er]

The apartment tower is supposed to be 16 floors, meaning it could be a bit taller or about the same as the 11 story office building. 

[KJHburg]

Here is a website about the new Ballantyne office tower but nothing about the apartment tower.  wonder if it is going on top of the parking deck or next to it opposite side of the office bldg?

http://13146.projectballantyne.com/vision/

[KJHburg]

^^^That rooftop fire pit has to be the largest in Charlotte.  Very nice amenities for suburban office building. 

[grodney]

Spotted on The FaceBook:

[cltbwimob]

If you haven’t seen the article in the Bizjournal about the future of Ballantyne, I encourage you to take the time to read it.  Northwood is planning mega changes to the park including eliminating the golf course in order to build open up space for more retail and residential development.  Park space will approximately double, including one that will feature a  stream that I didn’t even know existed on the property.  The whole project is inspired by a project in Austin in which Northwood has some holdings.  Although some of the renderings still make it look a bit suburban in a Reston Town Center and Tyson’s sort of way-think suburban corporate space with nice urban features-this will be a major upgrade for Ballantyne.

https://www.bizjournals.com/charlotte/news/2019/06/08/reimagining-ballantyne-what-northwood-has-planned.html?iana=hpmvp_clt_news_headline

[Guest]

I’ll be interested in what Northwood plans for traffic. The roads are not built to handle the current density, doubling it is going to make it that much worse. If their idea that they are going to suddenly make Ballantyne pedestrian friendly...

Really need better connectivity, and this is the ONLY place that a light rail spur makes sense.


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[Guest]

They can‘t exactly carve roads through subdivisions and existing office parks.


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[KJHburg]

They have approvals for a lot more office space already but not additional residential and that is where the issue may be.  I think this is overall a great plan and will help Ballantyne compete again for large relocations but light rail may be 10 plus years away from here but maybe the planning needs to start.   In my opinion they need to donate the land and right of way and room for the a station on their property as it will cause their property's value to skyrocket.    However getting more mixed uses in Ballantyne is a great thing I love the town center concept but kinda sad to see the golf course go but I do understand it. 

[lancer22]

Call me crazy but in what universe does it makes sense to build an apartment tower in Ballantyne? Who in their right mind is going to want to rent a 600 sq ft apartment for $2,000 - $2,500 down there? Seems silly IMO.

 

[Cadi40]

I think many people will be interested in living there, it’s not going to be the Ballantyne you think of today.

[atlrvr]

57 minutes ago, lancer22 said:

Call me crazy but in what universe does it makes sense to build an apartment tower in Ballantyne? Who in their right mind is going to want to rent a 600 sq ft apartment for $2,000 - $2,500 down there? Seems silly IMO.

 

Their land basis is near $0, and the plans state shared parking with office/retail, so that rent is probably more like $1,400-$1,600.

But beyond that, I think the answer is obviously the same people who rent expensive apartments Uptown, but whose employers are in Ballantyne.   So, high paid millennials working at SPX, Wells Fargo, Premier, Bank of America, Brighthouse, ESPN, etc

[Desert Power]

1 hour ago, lancer22 said:

Call me crazy but in what universe does it makes sense to build an apartment tower in Ballantyne? Who in their right mind is going to want to rent a 600 sq ft apartment for $2,000 - $2,500 down there? Seems silly IMO.

 

Doubt it would be that expensive.  But, really, the only way Ballantyne will make sense is for people to live there and it to have a light rail stop.  Roads just aren't going to handle more cars....

[KJHburg]

Plus several midrise apartments towers have tower very well in SouthPark and Ballantyne is an employment hub in its own right. 

[atlrvr]

There's a website for this 

http://reimagined.projectballantyne.com/