The Vue

[AuLukey]

Walked down Pine yesterday and I'm really beginning to appreciate the ground level of The Vue. It has a somewhat dark/rich look to it that is missing in the rest of uptown.

[dubone]

I don't know if they have changed the color of the top or if I am just getting more and more used to it, but I find myself being ok with the top when I've looked at the building this week. I still miss the tall spires, though.

[jms54]

I don't know if they have changed the color of the top or if I am just getting more and more used to it, but I find myself being ok with the top when I've looked at the building this week. I still miss the tall spires, though.

The last crane is gone as of this morning. We should see some big changes to the street view in the coming weeks. The stonework on the front of the building should start in about 10 days and take a few weeks to finish. All of the street level finishing should be occurring soon after that. The outside elevator should come down in mid April and almost all the remaining work needing to finish the building should be interior. No one will move in until at least August, but it should "look" finished very soon. I wonder how much this will help their sales.

[SmellyCat]

hould be occurring soon after that. The outside elevator should come down in mid April and almost all the remaining work needing to finish the building should be interior. No one will move in until at least August, but it should "look" finished very soon. I wonder how much this will help their sales.

[uptownliving]

I think it would help sales if they got rid of those giant garage doors on the roof!!!

Also hearing that the developer is cutting corners in the units due to their perilous financial state (see link below). Rumor is that the high end Wolf and Sub-zero appliances they were touting (while pretty women served you champagne) in their sales office are being replaced with something much more pedestrian.

Vue Orlando bankruptcy auction set for March 15

I agree that the building has really been cheapened on the outside and inside from the original plan. However I think the developer declaring bankruptcy for the Orlando Vue and the one building the Charlotte Vue are two totally seperate companies. MCL is building the Charlotte VUE and Churchill is the one declaring bankruptcy.

[chicagonative]

I agree that the building has really been cheapened on the outside and inside from the original plan. However I think the developer declaring bankruptcy for the Orlando Vue and the one building the Charlotte Vue are two totally seperate companies. MCL is building the Charlotte VUE and Churchill is the one declaring bankruptcy.

And the people who used to sell for Churchill are now selling at the VUE - a sign of things to come :C

I don't think MCL is going to be too far behind them, their business is rocky at best!

Edited March 22, 2010 by chicagonative

[palmetto75]

I wouldn't be surprised at all to see a BK filing not too long after completing the building. I started thinking of a prepackaged BK/foreclosure after construction stopped a few months back. A few observations:

1. Everyone saw the The Park lenders take an absolute bath. Better to lend and let the building finish with a marketable product than a big steel rust bucket. Lesson learned.

2. BoA is the lead lender in the syndicate I believe. They do not want an unfinished building outside their window everyday.

3. Lender probably took a more active role in the construction. Most likelyshooting down the Wolf/Subzeros for something more recession appropriate.

[atlrvr]

I wouldn't be surprised if the remaining units end up in foreclosure like that Vue Orlando, but I doubt we will see an imminent foreclosure upon completion. The announced terms in fact indicate the lender was being generous with terms (giving them an extra year) at the expense of I believe additional recourse/collateral. They could find some sort of material default if they wanted, but why take back a whole building in a bad market, when they could wait two years and take back a 40% of the building in a (hopefully) improving market.

I do agree that the lender is dictating the "cheapening", but this is better than the butchering at The Garrison.

BofA is the lead syndicate, though I thought this was a whole loan. Not sure on that, but I am certain that it was originated through LaSalle, which had no prefernce for Charlotte at the time. If the loan workout team is in Charlotte, they might be a little more generous in terms, but I believe BofA construction debt structure ties to the source of the origination, which means whoever it working on this loan for the bank is probably in sitting in Chicago.

I'm not as high on this project as I once was, but I believe it is still the superior Uptown condo product among the completed towers. If nothing else, it will add a lot more people and a decent amount of retail to 4th Ward, and improve the urban streetscape for 2 streets.

[jms54]

I wouldn't be surprised at all to see a BK filing not too long after completing the building. I started thinking of a prepackaged BK/foreclosure after construction stopped a few months back. A few observations:

1. Everyone saw the The Park lenders take an absolute bath. Better to lend and let the building finish with a marketable product than a big steel rust bucket. Lesson learned.

2. BoA is the lead lender in the syndicate I believe. They do not want an unfinished building outside their window everyday.

3. Lender probably took a more active role in the construction. Most likelyshooting down the Wolf/Subzeros for something more recession appropriate.

The Wolf/Subzeros (and I am not 100% sure it was ever wolf, just subzero) were changed 2 and 1/2 years ago when the developer changed. The appliances are Thermadore, their highest end units, which is not exactly kenmore. All of the changes in the building and cabinets, floors.... were made 2 1/2 years ago and none have changed since then. Many of them were not downgrades just different manufacturers. The cabinets were a definite upgrade. They will have almost 2 more years to sell out the building so it would be hard to imagine a BK or change in ownership before then, but you never know.

[Spartan]

No crane!

[dubone]

And no sales sign. What happened to it!?

[Spartan]

It's on the Graham St side.

[chicagonative]

Has anyone else noticed that the VUE has dropped their pricing, not by much but probably the start of many reductions to try and least sell a few of these overrated boxes from a crook developer http://www.vuecharlotte.com/floorplans.php

[Urbanity]

Has anyone else noticed that the VUE has dropped their pricing, not by much but probably the start of many reductions to try and least sell a few of these overrated boxes from a crook developer http://www.vuecharlo.../floorplans.php

I haven't noticed any drop in pricing, but I'll take your word that it isn't by much which then begs the question - so what? I don't know of any building right now that is not lowering prices and that is pretty much across the nation.

May I ask exactly what is your beef with them? You only have five posts here and they are all appear to be swipes at the building itself or the developers.

If you have something legitimate on them I'd be interested in knowing.

Edit: I added the words "appear to be" in the second to last sentence as I think it might clarify the tone of my question.

Edited April 21, 2010 by Urbanity

[uptownboy]

I haven't noticed any drop in pricing, but I'll take your word that it isn't by much which then begs the question - so what? I don't know of any building right now that is not lowering prices and that is pretty much across the nation.

May I ask exactly what is your beef with them? You only have five posts here and they are all swipes at the building itself or the developers.

If you have something legitimate on them I'd be interested in knowing.

Whoa Urbanity. The guy is purely stating a fact. Contrary to the fact that recent posts here have stated they would NOT lower their prices. Don’t take it so personal.

Edited April 21, 2010 by uptownboy

[Windsurfer]

Whoa Urbanity. The guy is purely stating a fact. Contrary to the fact that recent posts here have stated they would NOT lower their prices. Don’t take it so personal.

Calling someone a "crook" is more than just stating a fact.

[caterpillar2]

Whoa Urbanity. The guy is purely stating a fact. Contrary to the fact that recent posts here have stated they would NOT lower their prices. Don’t take it so personal.

Chicagonative called the developer a "crook". Urbanity wants to know why the developer is a crook. Are there factual reasons or is it just some biased opinion? Urbanity wasn't taking anything personally. He just wanted to know why the developer is being called a crook. I would be interested in knowing as well.

[Urbanity]

Whoa Urbanity. The guy is purely stating a fact. Contrary to the fact that recent posts here have stated they would NOT lower their prices. Don’t take it so personal.

I'm not taking it personal and didn't think it was coming off that way. In case anyone is wondering I have no stake in the Vue or the development company. I don't even have a personal interest in purchasing a unit to be frank (I'd be happy to discuss my personal dislike for vertical gated communities - but that's a separate thread )

I perceive a distinct bias by Chicagonative against the Vue in his few posts, which is honestly fine with me, but I'm curious as to what's the origin or reason.

My apologies if any think I'm hijacking the thread; I hope this explains.

[HopHead]

For what it's worth, I see Urbanity's point. This poster has a total of 5 posts as of my posting now and they have nothing but negativity towards the project and the developer itself. Chicagonative is better off taking this to the Off Topic section.

I notice on the Vue's web site that they were progressing niceley and hop to the "crown" part of th tower list by sometime in late May or early June.

[AuLukey]

I notice on the Vue's web site that they were progressing niceley and hop to the "crown" part of th tower list by sometime in late May or early June.

Sweet! That means that maybe, just maybe, they're planning on making it a little more aesthetically pleasing during daylight hours. One can dream

[HopHead]

Sweet! That means that maybe, just maybe, they're planning on making it a little more aesthetically pleasing during daylight hours. One can dream

I'm glad you were able to decypher what I was trying say. What I meant was they hope to light the crown in May or June

[QC-NC]

Here we go! Lit on 05.06.10

Next? obviously the residents

Lets see how well it fills out

[Charlotteman]

Well so far it doesn't look very graceful to my eye. In fact I would call it garish.

[tozmervo]

The light is a little overexposed in that photo (not helped by the fact that none of the units are lit up), but yeah, the lighting is pretty "meh" to me. I think the DEC has set a difficult bar.

[AuLukey]

The light is a little overexposed in that photo (not helped by the fact that none of the units are lit up), but yeah, the lighting is pretty "meh" to me. I think the DEC has set a difficult bar.

Maybe if the Vue put LED's down the corners of the building...

But I agree, I'm still attempting to reserve judgement until the units inside are dressed and lit up. The Avenue has a pretty subtly cool look at night too when the units are lit up.

I think we may be the hardest on the Vue because of what it had originally promised and because it is all by its lonesome. Were this built on Tryon in the middle of the pack, it wouldn't be quite such a blow to have an "eh" tower.