The Bad News Report

[CLT2014]

Just curious, are new buildings like 615 S. College really going for $50 - $60 per square foot in Charlotte? This article quotes the CEO of CoStar painting our commercial real estate market as much more expensive than Richmond (which I know has a glut of space available unlike CLT).

" “One of the beauties in the Richmond option is it’s already built out to the highest standards,” Florance said. “This building is head and shoulders above the buildings in the other cities. It’s a much better structure and site for a much lower number.” "

http://richmondbizsense.com/2016/10/26/costar-deal-its-more-of-a-tenants-market/

[jwntim]

54 minutes ago, CLT2014 said:

Just curious, are new buildings like 615 S. College really going for $50 - $60 per square foot in Charlotte? This article quotes the CEO of CoStar painting our commercial real estate market as much more expensive than Richmond (which I know has a glut of space available unlike CLT).

" “One of the beauties in the Richmond option is it’s already built out to the highest standards,” Florance said. “This building is head and shoulders above the buildings in the other cities. It’s a much better structure and site for a much lower number.” "

http://richmondbizsense.com/2016/10/26/costar-deal-its-more-of-a-tenants-market/

Absolutely not. Without knowing specifics of CoStar's deal at portman's building (which they obviously didnt sign) I would have guessed low $30s psf is what they had agreed to. The $50 to $60 range he mentioned in the article is 100% false. 

615 S College is currently asking mid $30s psf. 

Edited November 16, 2016 by jwntim

[CLTProductions]

44 minutes ago, jwntim said:

Absolutely not. Without knowing specifics of CoStar's deal at portman's building (which they obviously didnt sign) I would have guessed low $30s psf is what they had agreed to. The $50 to $60 range he mentioned in the article is 100% false. 

615 S College is currently asking mid $30s psf. 

Yup. 100% false. Even the highest of high office space uptown isn't $50. Duke is like $42 psf

[KJHburg]

CoStar is getting FULLY FURNISHED office space in Richmond for $20 a sq ft it used to be WestRock headquarters. They are subleasing this space and it would save $150,000 a year if you believe 615 S College is mid 30s a sq ft. That is substantial savings not to mention the furniture and workstations. No one locally is reporting this but you can not tell me that this is not a factor as well. http://www.bizjournals.com/washington/news/2016/10/25/costar-to-establish-research-hub-in-richmond.html?ana=e_me_set1&s=newsletter&ed=2016-10-25&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1477404576&j=76238511     http://www.richmond.com/business/local/article_f361b40f-1f21-5292-82b6-85a148d7baa8.html   WestRock consolidated their headquarters back to Atlanta I think. 

[HopHead]

Charlotte School of Law has been put on probation by the American Bar Association for its admission practices among other things. That can't bode well for the future of them at all. 

http://www.charlotteobserver.com/news/local/education/article115339503.html

[dcharlotte]

CoStar paid about $120 per square foot in unfit for their space in downtown DC. They're not shy when it comes to making a nice office. 

[cltbwimob]

^^^I fully expect them to go under given the Gainful Employment rules and now this.  The question is will UNCC or Queens step in and take over?

Edit: Was meant as a reply to Hophead's post.

Edited November 17, 2016 by cltbwimob

[kermit]

Bad news for urban ED projects. The NC Economic Development Partnership (the public-private agency created when McCrory came into office which now handles Economic Development in NC) changed its bylaws last week to limit the ability of Roy Cooper to appoint members to the board (the original charter of the organization said that the sitting governor would appoint 17 board members). Now Cooper must wait for McCory's 17 to have their terms expire before he can appoint new members. 

While this may not be disastrous for ED (most of the board members appear to be chamber of commerce types) it certainly does represent another RWNJ power grab and effort to subvert democracy. It also allows for the rural interests which created the Partnership to hold onto power which will certainly come at the expense of urban projects.

http://www.wral.com/cooper-may-quietly-have-lost-influence-over-nc-business-recruiter/16358287/

 

[Matthew.Brendan]

3 days I nto the new year and we have 3 casualties. 1 shot to death, 1 stabbed to death, and a 14 year old shot in the head in critical condition.  C'mon Charlotte. 

[KJHburg]

Now we have 3 murders the kid shot in the head from Kannapolis has died. 3 murders in first 3 days of 2017. Our city council and mayor need to have an action plan to combat this crime wave. Not to mention violence crime is up in Plaza Midwood too very recently. Offenders need to be found and arrested and sentence to jail no revolving doors. We can not allow crime to take over our city.

[ah59396]

13 hours ago, KJHburg said:

Now we have 3 murders the kid shot in the head from Kannapolis has died. 3 murders in first 3 days of 2017. Our city council and mayor need to have an action plan to combat this crime wave. Not to mention violence crime is up in Plaza Midwood too very recently. Offenders need to be found and arrested and sentence to jail no revolving doors. We can not allow crime to take over our city.

Murders were at a 7 year high in Charlotte with 68 in 2016.  Which isn't good, but it's no where near the 83 murders we posted in 2008, nor the whopping 122 we posted in 1993.

 

I could see the city cresting above 70 this year, crime has been on the "rise" across the country from some historic lows.  Optimally we'd like it to decrease forever, but I think we probably went as low as we will ever see it in 2014 with 42 total murders.  Unfortunately there are always going to be bad people.

[cjd5050]

1 hour ago, ah59396 said:

Murders were at a 7 year high in Charlotte with 68 in 2016.  Which isn't good, but it's no where near the 83 murders we posted in 2008, nor the whopping 122 we posted in 1993.

I could see the city cresting above 70 this year, crime has been on the "rise" across the country from some historic lows.  Optimally we'd like it to decrease forever, but I think we probably went as low as we will ever see it in 2014 with 42 total murders.  Unfortunately there are always going to be bad people.

I have no doubt that DOJ policy or the Ferguson Effect has played a role in the uptick in crime.  In Charlotte, after the Scott shooting, I don't think it's unreasonable to expect a reverb as to how policing is done for a good bit in the future.  

It does not help that Mayor Roberts and now Governor Cooper both called for the release of the tapes before the internal investigation was completed.  This is critical because such a move could/would have tainted a potential jury pool if charges were to have been filed against the officers involved.  Thus preventing them from their right to a fair trial.  It worked out in the end, as it was obvious Scott was a criminal and the shooting was justified, but the process I am sure has police taking pause as to how they go about their job.  

[deleted]

3 hours ago, cjd5050 said:

I have no doubt that DOJ policy or the Ferguson Effect has played a role in the uptick in crime.  In Charlotte, after the Scott shooting, I don't think it's unreasonable to expect a reverb as to how policing is done for a good bit in the future.  

It does not help that Mayor Roberts and now Governor Cooper both called for the release of the tapes before the internal investigation was completed.  This is critical because such a move could/would have tainted a potential jury pool if charges were to have been filed against the officers involved.  Thus preventing them from their right to a fair trial.  It worked out in the end, as it was obvious Scott was a criminal and the shooting was justified, but the process I am sure has police taking pause as to how they go about their job.  

I get your point (really I do) but I believe they should have released the tapes IMMEDIATELY.  Being transparent always helps and the jury pool was likely at least as tainted by the riots and presumption of guilt by many.  Additionally, though not conclusive, the tapes seemed to support the police version of shooting.  I would have released the day of the shooting (the law no longer allows this unfortunately without a court order).

[cjd5050]

4 hours ago, JBS said:

I get your point (really I do) but I believe they should have released the tapes IMMEDIATELY.  Being transparent always helps and the jury pool was likely at least as tainted by the riots and presumption of guilt by many.  Additionally, though not conclusive, the tapes seemed to support the police version of shooting.  I would have released the day of the shooting (the law no longer allows this unfortunately without a court order).

The riots were going to happen regardless.  The tapes would not have prevented anything.  The family would have continued to lie.  

Appeasing rioters and lawyers should not come before rights of police officers.  Thinking otherwise is a large part of the reason why many are 'checking out' while on the job.  

[sclark]

jan 4, 2017: homicide # 4 

http://www.charlotteobserver.com/news/local/crime/article124628039.html#storylink=latest_side

[Matthew.Brendan]

Disgusting and sad. I wish the city could hire twice as many police officers. 

[KJHburg]

The city council needs to work on public safety as priority #1. Are we going to be the Chicago of the south? And we traditionally have more crime in the summer! Our city council is preoccupied with everything but public safety. However i think our police chief is doing a great job just not funded or supported enough. 

[deleted]

15 hours ago, cjd5050 said:

The riots were going to happen regardless.  The tapes would not have prevented anything.  The family would have continued to lie.  

Appeasing rioters and lawyers should not come before rights of police officers.  Thinking otherwise is a large part of the reason why many are 'checking out' while on the job.  

We're getting into Coffee House territory so I'll be brief and make it my last reply on the topic.  I think the first night of riots would have happened regardless, not sure the more damaging subsequent nights occur if this was handled better and the tapes released expeditiously.  No where did I mention appeasing rioters or lawyers or preferring them to police.  If I was the officer involved, I would have begged them to release the video immediately.  I support the police but I also think it's true (black police officers have spoken to this also) that the minority community is often treated differently.  I understand why that may be (and there is blame that belongs in the black community also) but SOME of the officer involved shootings were questionable at best (though Ferguson and Charlotte were not among them).  Officers who check out should go all the way and resign.  It's a very difficult job but that's the job...either do it or get out.

[KJHburg]

Well I just saw this Nashville a peer city of Charlotte and smaller only about 678000 in city limits had 84 murders a higher rate than ours. Like Charlotte though it was the highest in years a nationwide trend for sure. But we still need to do something about it and I know the $100 million for a stadium comes from tourist taxes most of it but not all. We need to put public safety a first priority with the city council and our mayor. http://www.tennessean.com/story/news/crime/2017/01/04/nashville-criminal-homicides-most-more-than-decade/95918738/

[Dale]

Yes, whereas 68 murders is nothing to celebrate, I don't think Charlotte cracks the Top 25 in per capita murders.

[deleted]

On 1/5/2017 at 10:19 AM, JBS said:

 I support the police but I also think it's true (black police officers have spoken to this also) that the minority community is often treated differently.

It's obnoxious to quote yourself but this article reminded me of our discussion on this topic:

http://www.slate.com/blogs/the_slatest/2017/01/17/video_police_take_down_black_doctoral_student_lawrency_crosby_on_erroneous.html

I think it's unlikely that a white doctoral student would have been treated similarly.  Again, coffee house material but it pertains to recent Charlotte events and bad news...

 

[ssh214]

http://www.cnbc.com/2017/01/31/amazon-picks-kentucky-airport-as-site-for-air-cargo-hub.html

Not bad news for Charlotte, just didn't know where to put this, so if this needs to be moved somewhere else please do so...

Was Charlotte or any city in NC ever in the running for this?

[KJHburg]

10 minutes ago, saamh said:

http://www.cnbc.com/2017/01/31/amazon-picks-kentucky-airport-as-site-for-air-cargo-hub.html

Not bad news for Charlotte, just didn't know where to put this, so if this needs to be moved somewhere else please do so...

Was Charlotte or any city in NC ever in the running for this?

Dont think so that I have heard but we do have Prime Air flying here and there is their new 500,000 sq ft warehouse on Old Dowd Rd and Wilkinson that will support it. It is 100s of jobs but no official announcement. 

[ssh214]

Just now, KJHburg said:

Dont think so that I have heard but we do have Prime Air flying here and there is their new 500,000 sq ft warehouse on Old Dowd Rd and Wilkinson that will support it. It is 100s of jobs but no official announcement. 

Yea very true, just interesting Charlotte didn't try to make a bid on this... maybe it's because it's too far east coast, they wanted probably something more central which makes sense 

[KJHburg]

23 minutes ago, saamh said:

Yea very true, just interesting Charlotte didn't try to make a bid on this... maybe it's because it's too far east coast, they wanted probably something more central which makes sense 

Our airport is way too busy for a huge hub like that. The Cincy Northern Kentucky airport was a hub for Delta but then de-hubbed. UPS has their huge air cargo hub in nearby Louisville so you are right we are too far south and east