First Ward Urban Village / North Tryon Vision Plan

[uptownliving]

Been meaning to post about this but hadn't had the chance to watch the City Council video.

 

But I do have the full agenda item which explains it pretty well: http://charmeck.org/city/charlotte/citymanager/CommunicationstoCouncil/Memo%20attachments/Item%2014%20-%20First%20Ward.pdf

 

Here is the summary:

A. Allows the Developer to receive the portion of the City’s grant allocated to the 10th Street Deck upon providing 400 public parking spaces adjacent to the Park in surface parking lots, and upon demonstrating that “Reasonable Good Faith Efforts” were made to provide the spaces in one or more structured parking decks.
B. Extends the required completion date for the 10th Street Deck from December 31, 2015 to July 1, 2016.
C. Adds a penalty provision reducing the future Tax Increment Grant amount associated with the 400 structured public parking spaces adjacent to the Park, as follows:
a. $350,000 if deck parking is not in place by December 31, 2022,
b. an additional $550,000 if deck parking is not in place by December 31, 2024,
c. an additional $750,000 if deck parking is not in place by December 31, 2026,
d. an additional $950,000 if deck parking is not in place by December 31, 2028,
for a potential cumulative grant reduction of $2,600,000.

 

So to sum up there will not be any new surface lots created, rather if he is not able to build the parking deck adjacent to the First Ward Park then he will provide 400 spaces in existing surface lots he owns.

[Madison Parkitect]

So if he's not able to build the deck he just has to provide parking by using the surface lots he already owns anyway, and then he has another 6 years to build the deck before he's penalized? Doesn't that basically just give him another 6 years to build the deck without any kind of penalty at all? It even seems like it's better for him if he's "not able to build the deck" because he would save on construction costs plus be able to keep charging for parking at his surface lots?

[Niner National]

So if he's not able to build the deck he just has to provide parking by using the surface lots he already owns anyway, and then he has another 6 years to build the deck before he's penalized? Doesn't that basically just give him another 6 years to build the deck without any kind of penalty at all? It even seems like it's better for him if he's "not able to build the deck" because he would save on construction costs plus be able to keep charging for parking at his surface lots?

Sounds to me like he wouldn't be able to charge for 400 spots.

[dubone]

He isn't even penalized.  That is a reduction of potential savings of incrementally higher taxes from building something.  

[Madison Parkitect]

Ah, okay, that changes things a bit. I wonder what the revenue loss of those spots for 6 years vs. the amount spent constructing the deck is. I'm sure he knows which one is going to be better for him financially, and he'll go with that one.

[CLTProductions]

It still seems like the city is bending over backwards for him and isn't using the muscle they could to force his hand to move foward. Am I wrong in thinking that? If not, why on earth don't they do anything? If they really want to grow and "blossom" this city and N Tryon like they say they do, this land is the most crucial part, and them continuing to sit on their @$$ doesn't really provide much confidence they have the intention to boom N Tryon.

[dubone]

Well, the quirk is these are public incentives to a private developer for the public good.  They always will have the risk that he does nothing and then comes back to the table again and again.  There will always be a new batch of optimism that he will actually be doing something and they will always push out the incentives because the city will always want him to provide the benefits without themselves needing to budget and bond for them.   He can ignore the whole deal for 40 years and he will likely always get the votes for extensions because the equation for the city is always better to hope that he finally gets it done.  

 

They are trying to use carrots to this jackass forward, but he never budges.   On the flip side, it is very hard for them to penalize him, but as I have said recently in this thread, I think the city ought to look for some sticks/ actually penalties to doing nothing.  But even rules banning parking lot land uses would allow him to remain grandfathered in with ex post facto.  They could institute a tax that targets his methods, but I don't know if that type of thing would hold up in court, plus I could envision the state being called in to disallow the city from doing it. 

 

Where is Carl Icahn when you need him.... buy a stake in Levine Properties and sell it off due to mismanagement.  It is exactly his style, and exactly what ought to be done for the benefit of that company, the city, and the economy.   

[CLTProductions]

Where is Carl Icahn when you need him.... buy a stake in Levine Properties and sell it off due to mismanagement.  It is exactly his style, and exactly what ought to be done for the benefit of that company, the city, and the economy.   

That would be hilariously awesome. It's just amazing he has no problem being absolutely villified and continuing to do nothing. You would think as a businessman with ties to the area, you'd want to see beauty over concrete wasteland. And considering he is an egomaniac, you would think it would be a MUCH bigger ego boost to actually build and finish this massive project to say: look at what i created, look at what I did....as apposed to: haha I am just gonna sit on this land.

[15895]

You would think he could at least build something the community could use... A highschool, retail.... Or even stick with the whole park idea....

[Yurek]

Is it possible to contact Levine's company and ask them why they are delaying First Ward project?

[Madison Parkitect]

Their answer will be a roundabout way of saying "well, he's making money off the surface lots and doesn't want to spend money to build anything, so..."

[RiverwoodCLT]

Last night I watched the presentation. At the end they said that Levine's Company was ready to get started.  I am not going to hold my breath.  We should see something soon is what they said.

[CLTProductions]

Last night I watched the presentation. At the end they said that Levine's Company was ready to get started.  I am not going to hold my breath.  We should see something soon is what they said.

i guess pigs are flying now?

Edited August 1, 2014 by Jayvee

[RiverwoodCLT]

And Sheep, Cows, Dogs, Cats and Elephants too will be flying.

David has been busy building apartments around Crown Point.  He has built 2 large apartments complexes here in the last few years.

Also a Bojangles by Family Dollar HQ.

[dubone]

Last night I watched the presentation. At the end they said that Levine's Company was ready to get started.  I am not going to hold my breath.  We should see something soon is what they said.

 

Imminent construction was promised in a First Ward community meeting I went to in 2004.  It has now been a full decade.  A black president was seen as impossible and construction by Levine was seen as a near certainty.  Now we have a black president who has been in office long enough to see him get grey hair, and Levine has not built a single thing. 

[HopHead]

Why do I keep opening this thread?

[CLTProductions]

Why do I keep opening this thread?

        i feel the same way every time i do.

[km1789]

http://www.charlotteobserver.com/2014/08/01/5080366/construction-near-on-uptown-charlottes.html#.U9vu6kzD99A

oh lawd....
 

[ah59396]

At least the guy is getting called out publicly. The Observer has been schilling for this guy for way too long.

"Stock photo from 2005" almost made me spit my beer out though. 9 years ago that dude took a picture on that land and it looks exactly the same today. Hahahaha.

[dubone]

Yay, a new Doug Smith article!  

 

http://www.charlotteobserver.com/2014/08/01/5080366/construction-near-on-uptown-charlottes.html#.U9vu6kzD99A

oh lawd....
 

[RiverwoodCLT]

If he is not going build,  sell the land to someone who will.

[southslider]

^Icahn forced the wrong sale by the wrong Levine.

Edited August 1, 2014 by southslider

[CLTProductions]

I think that article is a step in the right direction. If he's made a fool of (to the general public, rather than to just those in the know) in such a way that the writers don't get sued, I think he will get off his @$$. CO and CBJ just need to continue publishing tongue-in-cheek and passive aggressive articles about his incompetence. 

[swh1972]

From the Observer...

On Tuesday, County Commissioners unanimously voted to amend an agreement with Levine Properties concerning a $700 million First Ward mixed-use development. They agreed to extend the completion deadline of First Ward Park to the end of 2015 and a 10th Street parking deck to July 1, 2016.

[CLTProductions]

From the Observer...

On Tuesday, County Commissioners unanimously voted to amend an agreement with Levine Properties concerning a $700 million First Ward mixed-use development. They agreed to extend the completion deadline of First Ward Park to the end of 2015 and a 10th Street parking deck to July 1, 2016.

It's seems like just a waste of breath. That would never ever been done by end of 2015, and we will go through this over and over.