Some new Charlotte photos

[Onward]

Originally Posted by KB0679

*sigh* I really do miss the old stomping grounds. It tugs on the heartstrings every now and again.

Now as far as 440 South Church that houses Ally Financial, I thought that was finished before 1 Bank of America was, which is the most recent office building to be constructed?

I'm just about certain your correct. Granted intiald is the one living in the Queen City and I'm only up there 1-2 times a month. I recall Ally being done around 2009 and 1 Bank of America around 2010...

Now back on topic thanks for the pics as always intiald, you have a great eye. One of these days I'll pick out my favorite Charlotte shots over the years and post em up. They wont be as good as yours though.

[RobertWalpole]

Originally Posted by novaCJ

It's great seeing infill in Charlotte, that place has massive potential.

Sadly, it doesn't. Charlotte's boom was fueled by BofA and Wachovia, the latter of which is now Wells Fargo which is based in SF. BofA is in terrible shape, and while it's still "officially" based in Charlotte (for now), it's power center is in NY. The CEO doesn't even live in Charlotte, and his presumed successor, Montag, has deep roots in NY.

Most new companies that relocate to Charlotte base themselves in suburban locations (but for Chiquita). Charlotte's office boom is akin to Dallas'. Dallas built many office towers in the 80s and early 90s and hardly any major new ones since then.

[RobertWalpole]

[QUOTE=min-chi-cbus;5682207]LOVE the architecture -- I'm pretty impressed! It looks like EVERYTHING there is brand new, which I guess shouldn't be surprising, but alas. Now how is Charlotte bulding condos after the condo [QUOTE]

It's not. Charlotte's propert market is a disaster. Construction of those new towers started before the meltdown.

[fern]

Charlotte looks really funky , some great new developments there .

[KB0679]

Originally Posted by RobertWalpole

Sadly, it doesn't. Charlotte's boom was fueled by BofA and Wachovia, the latter of which is now Wells Fargo which is based in SF. BofA is in terrible shape, and while it's still "officially" based in Charlotte (for now), it's power center is in NY. The CEO doesn't even live in Charlotte, and his presumed successor, Montag, has deep roots in NY.

Most new companies that relocate to Charlotte base themselves in suburban locations (but for Chiquita). Charlotte's office boom is akin to Dallas'. Dallas built many office towers in the 80s and early 90s and hardly any major new ones since then.

It still has a ton of potential; it just means that the banking sector probably won't play as large of a role in any subsequent "booms."

[mexibone]

Great pics! Thanks for sharing!

[durhamite]

Originally Posted by KB0679

It still has a ton of potential; it just means that the banking sector probably won't play as large of a role in any subsequent "booms."

Thank you! With the new infill, emphasis on the energy sector and other industries, the city will continue to expand and urbanize. Cities go through growth spurts. That's what is amazing about the city, detractors and cycnics will continue to spew negativity, and despite all odds it just chugs along.

Great photos!

[volguus zildrohar]

Romare Bearden Park? Nice idea.

[Sausage]

Originally Posted by RobertWalpole

It's not. Charlotte's propert market is a disaster. Construction of those new towers started before the meltdown.

There are several large condo projects that are under construction in the South End area and scattered around in other areas. Do a little research before you make statements about a city you have no clue about. True, there are some slow-selling projects locally in that market, but it is far from a disaster. There are also several large office/mixed use developments starting up and under construction in far south Charlotte and north suburbs. Things are getting back to normal for this boom town, regardless if the banks are struggling. Contrary to your other post, Charlotte's economy is driven by more than banks. Wikipedia & Google are great resources for those from out of town.


Great photos as usual, Initiald.

[RobertWalpole]

Originally Posted by Sausage

There are several large condo projects that are under construction in the South End area and scattered around in other areas. Do a little research before you make statements about a city you have no clue about. True, there are some slow-selling projects locally in that market, but it is far from a disaster. There are also several large office/mixed use developments starting up and under construction in far south Charlotte and north suburbs. Things are getting back to normal for this boom town, regardless if the banks are struggling. Contrary to your other post, Charlotte's economy is driven by more than banks. Wikipedia & Google are great resources for those from out of town.


Great photos as usual, Initiald.

I lived in Charlotte and return regularly to visit family and friends. People wereu referring to high rise condos downtown, not lowrises in Southend. Charlotte's economy and property market are a disaster.

[initiald]

Thank you for correcting me, I think 1 Bank of America was completed after 440 South Church (Ally bank building). I guess I was thinking of the Ally building because it started construction later than 1 Bank of America but finished sooner.

Originally Posted by min-chi-cbus

Now how is Charlotte bulding condos after the condo bust? Why would there be demand for condos in a city/region with low cost of living? I never understood that dynamic, because condos generally make sense where homeownership is in demand but traffic, geography or other constraints make it almost impossible to own close to the core.

The short answer is they're not. The Vue (3rd photo down I think) was started well before the bubble burst. It's mostly empty because they've sold only a few units. Part of the problem is that banks have decided not to give loans to some potential buyers. In fact, latest I've heard on it is that the building is going into foreclosure and it is very likely the building will be turned into rental apartments. Apartments have been pretty popular in the city. Another condo tower, Catalyst, was split into half condos and half rental units when it was completed.

As far as Skye (the under construction building) it was originally supposed to be all condos. In 2008/2009 the building stalled and sat partially completed for several years. It was sold in foreclosure for some ridiculously cheap price, I think under $10 million. I think city officials lobbied hard for somebody to finish the building so there wouldn't be a 20 something floor hulking frame of a building rusting away. Now it's being completed but only half condo units, the other half will be a hotel (I've heard Hyatt mentioned, I think). Other than that recent construction includes a hotel and a university building, so I wouldn't expect new office or condo buildings for a while.

I don't expect to see much new residential construction in center city for a few years. I think there is some more being build south of center city along the light rail line where costs are cheaper and turning a profit on rental units is easier.

[KB0679]

Originally Posted by RobertWalpole

I lived in Charlotte and return regularly to visit family and friends. People wereu referring to high rise condos downtown, not lowrises in Southend. Charlotte's economy and property market are a disaster.

Sluggish? Sure. Disaster? Stop exaggerating.

[durhamite]

Originally Posted by RobertWalpole

I lived in Charlotte and return regularly to visit family and friends. People wereu referring to high rise condos downtown, not lowrises in Southend. Charlotte's economy and property market are a disaster.

Anyway, things are slowly improving....

http://www.bizjournals.com/charlotte...et-coming.html

You visit family and friends once a blue moon and conclude a disaster area?

Show some stats/data to support that assertion as compared to other cities in the southeast and peer cities. I need a little more info/data than a random visit to auntie's house, sorry but researchers use sanitized data not opinions or random observations to denote a trend or conclusion.

[RobertWalpole]

You visit family and friends once a blue moon and conclude a disaster area?

Show some stats/data to support that assertion as compared to other cities in the southeast and peer cities. I need a little more info/data than a random visit to auntie's house, sorry but researchers use sanitized data not opinions or random observations to denote a trend or conclusion.

Incorrect. Live in a dream world if you like. My cousin, who was laid off from BofA, has been trying to sell his house in Weddington Chase for over a year. Many of his colleagues who were laid off from BofA and Wachovia are in the same boat and sold their homes, after they sat on the market for a very long time, at huge losses from what they paid. Nevertheless, if you and the Charlotte Business Journal want to pretend that all is well, then please, by all means, enjoy the delusion, Blanche DuBois.

In addition to my family, I have many friends in the legal and finance professions who left Charlotte due to the utter lack of jobs.

[durhamite]

Originally Posted by RobertWalpole

Incorrect. Live in a dream world if you like. My cousin, who was laid off from BofA, has been trying to sell his house in Weddington Chase for over a year. Many of his colleagues who were laid off from BofA and Wachovia are in the same boat and sold their homes, after they sat on the market for a very long time, at huge losses from what they paid. Nevertheless, if you and the Charlotte Business Journal want to pretend that all is well, then please, by all means, enjoy the delusion, Blanche DuBois.

In addition to my family, I have many friends in the legal and finance professions who left Charlotte due to the utter lack of jobs.

Again, this is your world (my cousin, etc)....cool, please don't generalize based on YOUR small (minded) world. So I provided you a little data that disproves your distaster theory. The article simply stated things have gotten better as of recent. I can differientiate between facts and delusion...you seem to be stuck in the latter.

This is a nationwide recession, it's not "all is well" anywhere. I guess you live in a place with unemployment around 3%-4% (dream world). Even in DC with relative low unemployment, some homes are so undervalued people are kind of "stuck" there for a while. The home mortgage crisis is EVERYWHERE for the most part.

I work in the energy biz and in the process of relo to Charlotte, company is hiring 500-600 people over the next 2-3 years...Charlotte ain't totally about banking (not nearly). In my small world things seem rosey, but I won't generalize and think Charlotte or the rest of the nation is doing great. It's competitive everywhere for work, people are relocating to Charlotte for work....yes, others have to leave area to continue career or pursue other opportunities. It's like that EVERYWHERE, not just Charlotte.

[damn_sam]

Nice pics and Charlotte looks great....I really like the Duke Energy Building. How tall is it?

[Sherman Cahal]

Thanks for the tour!

[RobertWalpole]

Originally Posted by durhamite

Again, this is your world (my cousin, etc)....cool, please don't generalize based on YOUR small (minded) world. So I provided you a little data that disproves your distaster theory. The article simply stated things have gotten better as of recent. I can differientiate between facts and delusion...you seem to be stuck in the latter.

This is a nationwide recession, it's not "all is well" anywhere. I guess you live in a place with unemployment around 3%-4% (dream world). Even in DC with relative low unemployment, some homes are so undervalued people are kind of "stuck" there for a while. The home mortgage crisis is EVERYWHERE for the most part.

I work in the energy biz and in the process of relo to Charlotte, company is hiring 500-600 people over the next 2-3 years...Charlotte ain't totally about banking (not nearly). In my small world things seem rosey, but I won't generalize and think Charlotte or the rest of the nation is doing great. It's competitive everywhere for work, people are relocating to Charlotte for work....yes, others have to leave area to continue career or pursue other opportunities. It's like that EVERYWHERE, not just Charlotte.

Dream on and remain oblivious to reality.

[initiald]

Originally Posted by damn_sam

Nice pics and Charlotte looks great....I really like the Duke Energy Building. How tall is it?

239.7 m/786 feet

[durhamite]

Originally Posted by RobertWalpole

Dream on and remain oblivious to reality.

Typical response from you, no substance, no facts - I deal with empirical data, part of my job, not some clown's or uncle jed's opinion. The Charlotte Biz Journal doesn't post only good news but bad news. So, it was a bit of good news, accept it. The country is suffering but slowly recovering, you seem to think Charlotte is surrounded by all these great economies in other metros...if so, show me some FACTS. If and when the data reveals Charlotte is a disaster area, I will be the first to state it, but you are way off base and seems part of your agenda is to spew unwarranted negativity.

Bank of America and Wells Fargo are still hiring people. There are shifts in operational needs so banks are re-organizing and downsizing some units - other units are growing like many other companies and industries. In my small world, I know several people who still work at both banks in Charlotte (pre and post recession) and specific departments that are hiring people.

Let me go enjoy my Wells Fargo PGA outing today to see Tiger and Phil...thought I was dreaming when I saw em yesterday....but they're REAL!...Quail Hollow is a real golf course.

Again, great photos Initial D.