The Vue

[dubone]

God help us if the only people buying are investors...

[ElricSeven]

God help us if the only people buying are investors...

<{POST_SNAPBACK}>

How do I run a poll:

I have reserved a unit in an Uptown Highrise and plan to...

1. Live there after I close.

2. Rent it out.

3. Sell it quickly after closing.

I'd do the poll, except I can't figure out how.

[sleightofhand]

I'm planning on moving in Trademark in Feb 2007. I could live there almost two years and then move into the Vue when it's finished at the end of 2008.

At that point I could cash out with Trademark but I'd prefer to rent it out. The idea is to move to a new location every two years.

Hopefully after I've lived in Trademark for a few years it will be appealing to people who need to rent uptown.

[atlrvr]

I really like the Vue the most for a variety of reasons.

1. Height

2. Architecture

3. Location/View/Little potential for view to ever be blocked

4. Ammenities

5. Closesness to the Teeter/Future Streetcar

6. Perceived high-quality finishes (though I'm just assuming here)

Really only 2 things bother me.....the ceiling are only supposed to be 9'6", instead of 10' like most other proposals, and I'm not sure how the base will be wrapped.....I'd really like it if retail and townhomes were built along Graham and 6th.

[QueenCity]

that building will be a nice addition to the queen city.

[sleightofhand]

IMO, the Vue ranks ahead of the Avenue.

I won't compare it to the Epicenter since it's units won't be for sale.

It's hard for me to compare it to the other residential high rises since they are nowhere near it's size. For example Trademark is only 28 stories.

[ElricSeven]

IMO, the Vue ranks ahead of the Avenue.

I won't compare it to the Epicenter since it's units won't be for sale.

It's hard for me to compare it to the other residential high rises since they are nowhere near it's size. For example Trademark is only 28 stories.

<{POST_SNAPBACK}>

Could you imagine a nice corner unit about 3300 square feet overlooking the skyline on the 50th floor? That would be special. You'd be like James Bond or something.

[UptownGrrl]

Could you imagine a nice corner unit about 3300 square feet overlooking the skyline on the 50th floor?  That would be special.  You'd be like James Bond or something.

<{POST_SNAPBACK}>

Or, a Bond girl perhaps....

[sleightofhand]

Could you imagine a nice corner unit about 3300 square feet overlooking the skyline on the 50th floor?  That would be special.  You'd be like James Bond or something.

<{POST_SNAPBACK}>

It's very hard to imagine but it does bring up an interesting debate.

What would a unit on the 30th floor be priced at?

For a 2 bedroom I immediately thought atleast 400k.

Now that I think about it with this many floors and that many units I'm not sure they'll be able to charge that much that early if they won't the building to sale well.

[atlrvr]

I think this building will sell well.....of all the towers going up, I can see myself living here the most. I think the sheer size factor alone will help it, as will the 4th Ward location.....that said, I'm not sure the developer is going to be patient with this project if it doesn't sell.....I would suspect they want pretty strong pre-sells fast, and aren't going to wait around a couple years like some projects.

[ElricSeven]

I think this building will sell well.....of all the towers going up, I can see myself living here the most.  I think the sheer size factor alone will help it, as will the 4th Ward location.....that said, I'm not sure the developer is going to be patient with this project if it doesn't sell.....I would suspect they want pretty strong pre-sells fast, and aren't going to wait around a couple years like some projects.

<{POST_SNAPBACK}>

A two bedroom on the 30th floor for 400K sounds like a bargain to me, as long as it is 1500 square feet or so.

[atlrvr]

I see no reason that this building would not sell for $300-$400 a square foot....$400 range being floors 30-50 with skyline view.

[sleightofhand]

I see no reason that this building would not sell for $300-$400 a square foot....$400 range being floors 30-50 with skyline view.

<{POST_SNAPBACK}>

This is what I'm afraid of. In order to get a unit with a really good view one has to be ready to put together that 5% down payment. 10 months later when ground is broken you have to give another 5%.

That is some serious loot.

[atlrvr]

Your best option (if you're a gambling man) and you want to have some time to save up for the deposit on a higher priced unit is to put down 5% now on the least expensive unit available, and then the next 5% when construction starts (in theory, this should cost you under about $18k)......THEN, if you can save more, upgrade your unit while construction is under-way.....most developers will allow this since it is much easier to sell the cheaper units later......the only thing to be mindful of is if they have discounted Phase I pricing, you may or may not be able to get this discount if you upgrade......

[ElricSeven]

This is what I'm afraid of. In order to get a unit with a really good view one has to be ready to put together that 5% down payment. 10 months later when ground is broken you have to give another 5%.

That is some serious loot.

<{POST_SNAPBACK}>

Now that's starting to sound like $600K for each of the two bedroom units for 20 floors. Good luck on selling all of those. Check the unsold units at any of the new buildings and you'll see some significant slowing of sales near the $500K mark. There's still several 600K units left in Courtside and Trademark, the last time I checked.

[atlrvr]

I think they will be smart and go the smaller unit route.....1200 sq. ft. 2BR at $400 is only $480k, which I think can sell....but you're right, over $500k, and especially over $600k, demand slows down a lot......interestingly though, demand picks back up in the $900k range (to a limited degree).......it's the well-off people who are in their child raising years who tend to shy away, who instead spend $500k-$1M at the lake or South Charlotte.

[ElricSeven]

It will be fun to see, I hope they all sell well.

[atlrvr]

I'll say one odd feature of Charlotte (and southern metros in general) is that intown prices are actually higher for condos than for single-family homes (meaning those that have land attached to the deed which can be used clear of HOA regulations)......This is by VERY opposite compare to places like Boston or San Fran or Seattle or other dense cities where land is limited. For example, Boston Single Family homes sell at about a 30% premium if land is included.

What this tells me is that condo living is trendy in Charlotte, and condo demand is not necessary because of prices like in many denser cities......this is good and bad. Good becomes people percieve Charlotte as a relative value, and demand is deep for urban living.....bad is if the trendiness dies.....

Also, it means that land here is VERY undervalued, and that condo developers are making a killing.

[ElricSeven]

Your best option (if you're a gambling man) and you want to have some time to save up for the deposit on a higher priced unit is to put down 5% now on the least expensive unit available, and then the next 5% when construction starts (in theory, this should cost you under about $18k)......THEN, if you can save more, upgrade your unit while construction is under-way.....most developers will allow this since it is much easier to sell the cheaper units later......the only thing to be mindful of is if they have discounted Phase I pricing, you may or may not be able to get this discount if you upgrade......

<{POST_SNAPBACK}>

Yeah, and the other problem is that they usually keep increasing the prices during the construction.

[A2]

Where is the Villages of Wexford monsoon ???

[ElricSeven]

I'll say one odd feature of Charlotte (and southern metros in general) is that intown prices are actually higher for condos than for single-family homes (meaning those that have land attached to the deed which can be used clear of HOA regulations)......This is by VERY opposite compare to places like Boston or San Fran or Seattle or other dense cities where land is limited.  For example, Boston Single Family homes sell at about a 30% premium if land is included.

What this tells me is that condo living is trendy in Charlotte, and condo demand is not necessary because of prices like in many denser cities......this is good and bad.  Good becomes people percieve Charlotte as a relative value, and demand is deep for urban living.....bad is if the trendiness dies.....

Also, it means that land here is VERY undervalued, and that condo developers are making a killing.

<{POST_SNAPBACK}>

I've noticed this too. There are SFH that sell for less per square foot than the condo units themselves. However, I do notice that those in first ward might as well be condos they're on such small lots. Not even space for a dog to roam on some of them.

[peaceloveunderstanding]

http://ww.charmeck.org/qol/template.asp?ID=135 A Neighborhood profile of this Villages of Wexford

And the overall list

http://www.charmeck.org/Departments/Neighb...ods+Listing.htm

Edited June 11, 2005 by moonshield

[atlrvr]

A building permit was issued this week for the Vue's sales center on Tryon....looks like they will be opening in a few months as well.

I was skeptical about the Vue, but from all indications that I've recieved they are still planning at full speed.

[A2]

A building permit was issued this week for the Vue's sales center on Tryon....looks like they will be opening in a few months as well.

I was skeptical about the Vue, but from all indications that I've recieved they are still planning at full speed.

<{POST_SNAPBACK}>

This is a good thing. Where will the sales center be atlrvr? I thought it was going in 101 Independence Center, but I am not sure.

A2

Edited July 6, 2005 by A219724

[atlrvr]

You're right A2.....it will be next to Starbucks.