The Vue

[kennethlin]

Well, I talked with a friend in the planning department yesterday and a groundbreaking of November was mentioned. Having heard the same thing from many other people here on the forum, I'm guessing there's got to be something to it.

Aside from that, it was a broker listing the Vue on Craigslist, not the Vue itself. Haven't there always been 1 bedroom units for the low 200's?

When I went to the sales office at the VUE on opening day, I asked about the advertisment of the starting at $200k price. I was SHOCKED to see that they DIDN'T have ANY at that price. Most were in the HIGH $200s for a starter unit, with the worst possible view, the lowest floor, and loft. Not one that I was inquiring about (1 bed/loft) was even close. They were all in the sub-$300s. I think that could be a reason why it's taking so long to pre-sell. I know that the financing has been approved and loan secured on this project, but the fact that the VUE hasn't released ANY unit sales forecasts is not encouraging to me. I mean, if you were a developer, and sales have been brisk and selling fast, wouldn't you want to publicize that? That is free advertising, and it creates even more buzz about the project. The fact that many of us have asked them personally on the sales statistics and forecasts, and the personnel have kept mum or even just said, "things couldn't be better" is a flat-out excuse in my books.

I know I'm throwing alot of negatives here, but I'm just sharing my opinion and being honest here. I love this project and I hope everyone that's bought one of these units will enjoy it, because it's definitely nice. But I just don't know what management has in store for us here. I personally know a friend who put a hefty down payment on one of these units, and he's biting his nails because they aren't providing any information to him except that things are "on track and on schedule." What the heck does that mean? There is no need to be so secretive about this...and I think the Vue and its management really needs to shed some light on their numbers to make the public feel more at ease with this project. There is no need to keep telling people everything's on track and continue to make excuses with the delays. Be upfront and direct, because if not, they'll surely have more doubters each and every day, and eventually, buyers will want out themselves.

Edited September 16, 2006 by kennethlin

[A2]

From everything I have heard and seen there has been NO delay in this project. As for dates, I have heard from many reliable sources to expect a groundbreaking VERY soon (specifically latter Nov-Dec). I actually see this project being built above any of the others not already u/c, including the tower portion of 210 Trade.

I think that the fear of a company not "showing their hand" is more of a strategic move since their is so much competition in the tower race here is CLT. The VUE's management does not owe the public anything or any info. If anything I have noticed that the projects that have the most info. put in front of the public eye, are the one's that have huge delays (ie Park).

The Orlando tower went the exact same way, with respect to secrecy. (Dale in the Orlando thread could back that up as well)

I would definatly be concerned if this were being built by a public developer, but since it is a LLC, they have every right to hold their info close to the vest. As for anyone who purchased, I am sure many are excited and impatient. Heck, I know I would be .

I would just let the timeline play itself out. If a shovel is not in the ground by the DEC/JAN time frame, only then I would question the companies ability to produce.

It is simply way to premature to be concerned, or even doubtful that they will move forward.

As for being concerned about ANY project not currently u/c, I am probably the most "Bearish" and skeptical of any on UP. But, we have to give the developer the chance, before condemning it to failure. This project has already met its finaning goals and that is all the info any needs to really know.

MARK THIS POST: VUE GETS BUILT.

A2

Edited September 16, 2006 by A2

[jednc]

Complaining about The Vue not being started and complaining about a lack of info from the developer is like complaining about Santa Claus in October! Be patient and don't expect info you're not entitled to.

Wow...they said they'd start in 4Q 06. Why is that so hard for people to understand? Most projects do experience delays. I say this to prepare Henny Penny that the sky won't be falling if The Vue ends up experiencing a delay and doesn't get started right on time (gasp). Just relax. It will get built, or maybe it won't. Let's wait and see and perhaps give the developer at least until after their announced start date(s) before we wring our hands and gnash our teeth.

[Charlotte_native]

Aside from that, it was a broker listing the Vue on Craigslist, not the Vue itself. Haven't there always been 1 bedroom units for the low 200's?

Why would an outside broker put a unit from The Vue on Craigslist?

[kennethlin]

Why would an outside broker put a unit from The Vue on Craigslist?

That's a good question. Even if it WAS an outside broker listing on Craigslist, that wouldn't quite make sense since NONE of the units at the VUE has closed, as far as I know. Hence, you can't really say it is YOURS just yet. There is definitely something fishy about this. As for the people railing me about being negative about this, keep in mind, this is ONLY my opinion and it is supported with facts. I'm just informing what I see, because I have no indication things are happening there.

As for the Q4 start date, I sure hope so. I, along with everyone else, want to see this built, and for the poster that indicated the VUE WILL get built, I'm with you...except I also have to evaluate both sides. Anyone can say anything about the start date, but without any concrete facts, who knows? Yes, the developer has EVERY RIGHT to keep their mouth's shut, but to keep it shut for so long, especially even to their own buyers would be something I wouldn't do, especially given how all these news about real estate softening is all over the place. It's all about doing good marketing/adveritising/PR.

Edited September 16, 2006 by kennethlin

[monsoon]

Indeed. There isn't even a promise the thing will actually be constructed. Is there a link to this advert?

[kennethlin]

Indeed. There isn't even a promise the thing will actually be constructed. Is there a link to this advert?

For your enjoyment....http://charlotte.craigslist.org/rfs/206741616.html

[graydog]

The ad links to a listing service for condo sellers. My guess: this has nothing to do with The Vue sales. The website is using The Vue to drive traffic. It's probably not a bad move. I have a friend who is a buyer's agent and a landlord. She says a lot of people outside NC, and especially CA, find out about real estate on Craigslist.

[atlrvr]

There is an update about the Vue in today's CBJ online.

http://www.bizjournals.com/charlotte/stori...tml?jst=b_ln_hl

Building permits applied for, > 50% units sold, January groundbreaking (per the article)

[queensguy06]

I am beyond ecstatic with this project. I am glad to see we finally have some concrete deadlines we can look forward to.

[uptownliving]

I guess I said something offensive in my previous post as it was deleted. If I offended anyone I apologize.

I checked the Building Permits website and sure enough the Vue applied for their building permit today. For anyone that was wondering the Vue's address will be 410 W 5th St. Since this is a very large building don't expect this permit to be approved before Christmas.

The CBJ article that atlrvr linked to also stated that the Vue had a record sales week. I did notice quite a few people in their sales center when I walked by on Saturday. There were also a lot of people walking around uptown with Vue Charlotte bags full of goodies. I suspect they were part of the Uptown Living Tour.

[dubone]

As reported in the Observer as reported on UP:

http://www.charlotte.com/mld/charlotte/business/15549718.htm

The new information, which was quite heartening, is that they had "record sales" this past week.

Dougie seems to be confirming the UP concensus of a January start.

For all the skepticism that has come and gone in these 53 pages, I'm SO glad that this project seems to be ready to happen. I've long thought this project was the most unlikely, but the one that, if it happened, would bring Charlotte to a whole new level. The fact that it is a 50+ residential tower, at sales prices north of 400dpsf, in Fourth Ward, in an otherwise lowrise section of downtown, makes this an extraordinary project. Not to mention the special concrete form construction (which I hope has survived the massive commodity inflation).

Let's just hope they don't hire Tober next year .

[Seabreeze]

i guess the craigslist ads worked

[Charlotte_native]

i guess the craigslist ads worked

Maybe more than that...just noticed that The Vue actually has gotten a local real estate agent to list one of their units. A 571 SF unit for $239,900 ($420 SF). The listing refers everyone to the sales center and to the website for the development. Not that this "means" anything, but it appears they might be opening up a little bit -- at least with one published sales price. This and other heavy advertising might be the reason for the recent bump in reservations that have been noted in the paper and on here.

[Bled_man]

Not sure if this really means anything or not, but I get a structural engineering magazine at work and Autodesk has an ad in this month's magazine with a rendering of the Vue. It talks about the consulting engineering firm that is doing the design for the Vue and how they switched to some Autodesk product. Like I said, don't know if it means anything but it is pretty interesting. The magazine is Structural engineer by the way.

[dxartist]

Maybe more than that...just noticed that The Vue actually has gotten a local real estate agent to list one of their units. A 571 SF unit for $239,900 ($420 SF).

Man, that's an aweful lot of money for that little of a space....

[Charlotte_native]

Man, that's an aweful lot of money for that little of a space....

It is becoming the going rate in many or most projects in the loop.

[atlrvr]

In Orlando, The Vue will make it's art collection in the lobby open to the public to view.

Here is a link to what will be on display there. http://www.vueorlando.com/art/content.html

I assume Charlotte's The Vue will similarly have a public gallery? If so, that will be an great addition to the arts scene at no public cost. Also, I was told many months ago that they are designing a water feature in front of the building that will be the best looking in the city (the one in the rendering is not the final design).

Edited October 14, 2006 by atlrvr

[UrbanCharlotte]

Anyone hear on an exact ground breaking? Not too far away.

Yes I felt bad for the Vue with all the other projects going on.

[rockhilljames]

Don't feel bad for the Vue...once it starts going up all eyes will be on this jewel. Lord it's pretty.

[Dale]

VUE Orlando topped out last week and will be quite an iconic presence on the Orlando skyline.

[sleightofhand]

My guess for groundbreaking would be about two and half months.

[rockhilljames]

I thought it was this month....anyone know where they are on permitting?

[Charlotte_native]

I thought it was this month....anyone know where they are on permitting?

A while back it was changed from this month to 1st Quarter next year

[Bled_man]

Not sure if this really means anything or not, but I get a structural engineering magazine at work and Autodesk has an ad in this month's magazine with a rendering of the Vue. It talks about the consulting engineering firm that is doing the design for the Vue and how they switched to some Autodesk product. Like I said, don't know if it means anything but it is pretty interesting. The magazine is Structural engineer by the way.

Here is the link to a pdf showing this advertisement. Again, it doesn't really mean anything, but it is a pretty good looking rendering of the Vue. The pdf is 2 pages and the ad is on the 2nd page. Link