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BryanH

230 South Tryon

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the link below shows a rendering of the proposed 230 south tryon building in charlotte, nc that is being converted into condos from a 13 story office tower. not quite impressive.

230 South Tryon

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that looks terrible imo. too much like berkman plaza in jax which im not too fond of.

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It looks so short after looking at Trademark renderings.

:D

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I think the proposed building is beautiful. Charlotte needs some urban living that doesnt look like space ships taking off. I enjoy the likes of The Arlington and the new towers being built. But this one is classic....It reminds me of residential high rises in Philadelphia, NYC,San Francisco....etc...and those cities all have true urban cores.....Embrace diversity in residential living in Charlotte.

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Yea, it loks like it should belong in Florida, but we still should embrace it. it is unique compared to the rest of the condos being built here, and that I can commend it for. Even though I do think it is kind of ugly myself, at least it is trying to be different.

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It's not ugly. It's just not the standard modern stuff Charlotte is loaded with. I like the fact that its different. It's not outstanding, but it's okay.

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I think it looks nice....especially when you consider the current box of a building with square windows that it is now.

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the best thing is that it will now have street level retail, something sorely lacking in Charlotte buildings from this time period.

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I agree with all of you. It is not the most impressive building, but it has a number of positive attributes:

- It is worlds better than the dated architecture of the current 230 Tryon office building. (Click here to see)

- Conversion to condos will increase the residential population in Charlotte, which will help goals to attract retail and have more people on the streets outside of business hours

- Conversion to condos will decrease the office space, which lowers vacancy percentage, which increases chances for a newer, more exciting office tower when the market picks up.

- Retail is included in the ground floor, which will help revive South Tryon Street, which is far behind north Tryon in pedestrian activity after hours.

- Although it has average architecture, it is appears to have quality materials (roof tiles, stone tile at base, copper awning at entrance)

- As this isn't a greenfield or greyfield (surface lot) development, the architecture is constrained by the structure of the building. I'm sure fancy fins and bowed out and curved walls are expensive and difficult to retrofit into a 1972 office building.

- Cost savings that may be found by using the skeleton of an existing building may mean lower prices, and/or quality construction and materials in the interior.

Just a few thoughts. It seems like a mee-too development arising from recent market trends, but i think there are enough positive attributes to warrant excitement from uptown boosters.

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I agree with all of you.  It is not the most impressive building, but it has a number of positive attributes:

- It is worlds better than the dated architecture of the current 230 Tryon office building.  (Click here to see)

- Conversion to condos will increase the residential population in Charlotte, which will help goals to attract retail and have more people on the streets outside of business hours

- Conversion to condos will decrease the office space, which lowers vacancy percentage, which increases chances for a newer, more exciting office tower when the market picks up.

- Retail is included in the ground floor, which will help revive South Tryon Street, which is far behind north Tryon in pedestrian activity after hours.

- Although it has average architecture, it is appears to have quality materials (roof tiles, stone tile at base, copper awning at entrance)

- As this isn't a greenfield or greyfield (surface lot) development, the architecture is constrained by the structure of the building.  I'm sure fancy fins and bowed out and curved walls are expensive and difficult to retrofit into a 1972 office building.

- Cost savings that may be found by using the skeleton of an existing building may mean lower prices, and/or quality construction and materials in the interior.

Just a few thoughts.  It seems like a mee-too development arising from recent market trends, but i think there are enough positive attributes to warrant excitement from uptown boosters.

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I just hope it turns out better than the Iveys with its orange interior and collection of junk food establishments. The condos I've seen also have weird layouts and it seems like they stay on the market forever when they go up for sale.

Can anyone tell why, other than the few weird layouts with long halways? I wouldn't think that would be enough.

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From biz journal:

Spectrum Properties says condominiums it's developing at 230 South Tryon St. will be priced from $150,000 to $1.5 million.

Spectrum is redeveloping the former Mass Mutual Building from office use to residential. The 13-story building will feature 110 condominiums, with studios, one-, two- and three-bedroom units and penthouses. The standard units will cost $150,000 to $500,000; penthouses will run $750,000 to $1.5 million.

Each unit will have a balcony and feature high ceilings, hardwood floors, granite countertops and stainless-steel appliances. The building will offer doorman services and feature a coffee shop and cyber caf

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Put your hand over the bottom 11 floors in the rendering and see what you have......looks like the Morrocroft library clad in white. I've seen the floor plans and common space rednerings and the interior design is pretty good.....the most exciting thing about this project in my opinion is the new retail space and plaza being built where the surface lot is on Tryon. If this building was clad in a natural stone of some sort I'd be a lot more excited....but I have a bad feeling it's going to be stucco.

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Stopped in the sales office today for 230 S. Tryon just for sh*ts and giggles. They had only 4 units left for sale, all very smallish ones. Those units available were the only ones with prices listed - they range from $385 to $408 per sq.ft. Not cheap! The sales agent told me that because this project has gone so well, the developer will be doing further office-to-condo conversion projects in the uptown area in the near future.

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Stopped in the sales office today for 230 S. Tryon just for sh*ts and giggles.  They had only 4 units left for sale, all very smallish ones.  Those units available were the only ones with prices listed - they range from $385 to $408 per sq.ft.  Not cheap!  The sales agent told me that because this project has gone so well, the developer will be doing further office-to-condo conversion projects in the uptown area in the near future.

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I must say that I'm absolutely amazed at how quickly those places sold out. Maybe, just maybe, Uptown will turn out to be a really, really big deal in five years. That, or people are all buying on speculation and then the bubble will pop and ruin us all. But I can't conceive that so many people would pay such extravagant prices with the idea of renting or flipping. It would be very hazardous.

SC, did they say what their association dues will be per month?

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I must say that I'm absolutely amazed at how quickly those places sold out.  Maybe, just maybe, Uptown will turn out to be a really, really big deal in five years.  That, or people are all buying on speculation and then the bubble will pop and ruin us all.  But I can't conceive that so many people would pay such extravagant prices with the idea of renting or flipping.  It would be very hazardous.

SC, did they say what their association dues will be per month?

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Yes, for the four 851 sf units remaining, it was $246 per month. So I guess that's about $0.29 per sf a month.

I can't see Charlotte becoming like Miami or LA when it comes to flippers - not yet anyway, there's still not enough product, plus I think many of these Charlotte projects must be owner-occupied. In Miami, a new condo development is announced almost daily. I see the advertisements all the time in magazines like Maxim and Stuff.

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Yes, for the four 851 sf units remaining, it was $246 per month.  So I guess that's about $0.29 per sf a month. 

I can't see Charlotte becoming like Miami or LA when it comes to flippers - not yet anyway, there's still not enough product, plus I think many of these Charlotte projects must be owner-occupied.  In Miami, a new condo development is announced almost daily.  I see the advertisements all the time in magazines like Maxim and Stuff.

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Given the amenities, that's not a bad rate at all. Do we know what the rate is for the Trademark? I figured a swimming pool and stuff is pretty expensive, but maybe not when split between so many owners.

I hope we don't get that bad with the flippers, but it is all relative. I guess the number of units seems large Uptown but not when you compare it with the vast subdivisions that are in Highland Creek, Steele Creek, etc.

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Given the amenities, that's not a bad rate at all.  Do we know what the rate is for the Trademark?  I figured a swimming pool and stuff is pretty expensive, but maybe not when split between so many owners.

I hope we don't get that bad with the flippers, but it is all relative.  I guess the number of units seems large Uptown but not when you compare it with the vast subdivisions that are in Highland Creek, Steele Creek, etc.

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Haven't heard the Trademark rate yet. The sales agent at 230 also said today's article in the Observer didn't hurt either, which may have generated some walk in sales this morning. It talks about the huge demand for high-rise living and skyline views in Charlotte. It has pics of a sampling of hi-rises: The Arlington, 230 S. Tryon, Courtside, Trademark, and 626 N. Graham.

By the way, he also said delivery of the units for 230 would be in early 2006.

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TradeMark is shooting for around .26 psf in homeowner's dues... they have not released the contract papers so the final # is unknown to buyers. two weeks ago they had reservations on 115/162 units with waiting lists for some sold out floorplans. i think its intersting how expensive these condos and fees are - how well buyers do in a few years when its time to sell will have a lot to do with construction quality (like noise control) and amenities quality for all the homeowner's expense. its hard to judge what projects and developers will have good reputations until the projects are lived in. i don't expect a housing bubble for a while b/c uptown is not overbuilt for the people that want to live here now even with the lack of uptwon retail - bring the retail and you will be able to fill many more buildings. the EpiCentre plan is a huge deal for uptown and I hope Ghazi does it right. if they build another 400 residential units there but bring the retail and entertainment it will be good for owners in all buildings in the long run.

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Oh one more tidbit from my visit to 230. While I was browsing through the sales brochure, I overhead one of the sales agents mention to the another that David Furman paid a visit to the sales office earlier in the morning. When one asked the other what Furman had to say, the other said he just looked around and smiled.

Maybe it was a competitive little nod of approval?? Or a "mine building is nicer" smirk? Who knows? I thought it was interesting though.

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Oh one more tidbit from my visit to 230.  While I was browsing through the sales brochure, I overhead one of the sales agents mention to the another that David Furman paid a visit to the sales office earlier in the morning.  When one asked the other what Furman had to say, the other said he just looked around and smiled. 

Maybe it was a competitive little nod of approval??  Or a "mine building is nicer" smirk?  Who knows?  I thought it was interesting though.

<{POST_SNAPBACK}>

Anyone stop by the Park's sales office lately? Is there like a cardboard cutout of an agent or something? Or maybe a clerk processing contract recissions?

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