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Author Archives: Tony Brown, Staff Writer

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Subdivision approved after developer changes proposal (access required)

A proposed 440-home residential development that was vehemently opposed by residents of two counties became a proposed 338-home residential development that was endorsed by those same residents on Wednesday night. And after protest petitions were withdrawn that would have required a supermajority vote, the Kannapolis City Council voted unanimously to approve the River Pointe at Davidson development.

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Betting on the northeast I-485 spread: Priester announces second development, this one at Albemarle Road exit (access required)

Betting on the northeast I-485 spread: Priester announces second development, this one at Albemarle Road exit <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Retail developer Jay Priester is betting again on future development near Interstate 485. Priester on Wednesday announced that his Cambridge Properties Inc. is developing a 17-acre site on vacant, unincorporated land east of the Albemarle Road exit of I-485, just past the Mint Hill town limits, and a half-mile from the future site of a Novant Health Presbyterian Medical Center campus expected in 2018.

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Staking the ground: Toll Brothers and Ryland increase market share; Meritage moves in (access required)

Staking the ground: Toll Brothers and Ryland increase market share; Meritage moves in <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Goldman Sachs, the global investment banking firm, put out a report naming Charlotte and Jacksonville, Fla., as the two hottest new housing markets in the country, based on population growth, cheap land and economic fundamentals. And in the post-recession, still-recovering era, Goldman picked three national production homebuilders as good stock investments, predicting they would grow in value by as much as 24 percent this year. Two of them have been charging into the Charlotte market in major ways since the market bottomed out in 2010: Toll Brothers Ryland Group.

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NEWS ANALYSIS: Attorney warns that based on recent ruling, N.C. homeowners unlikely to get money (access required)

NEWS ANALYSIS: Attorney warns that based on recent ruling, N.C. homeowners unlikely to get money <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

A recent, and murky, N.C. Court of Appeals decision that appears to limit 10-year construction warranties to six years has been invoked by a homebuilder’s attorney, who nonetheless has said his client will make the necessary repairs. The key to this little paradox involving a seven-year-old house in Monroe is, apparently, understanding the difference between two legal phrases.

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Jeff Brown: A man of rezoning renown (access required)

Jeff Brown: A man of rezoning renown <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Jeff Brown is one tight-lipped and self-effacing dude. That’s an attribute that’s handy in a 30-year veteran real estate lawyer who has played a major role in the transactions, land-use decisions, rezonings and other entitlement actions on some of the biggest deals of the past couple of decades of Charlotte’s development history.

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REBOOT 2.0: Permits up $212.9M in 20 dark days (access required)

REBOOT 2.0: Permits up $212.9M in 20 dark days <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

The computer system went down again, and the economy stayed down again, but the value of Mecklenburg County building permits surged by $212.9 million during a 20-day period that ended Thursday. That was nearly double the value of permits issued in previous 20 days, and nearly double the same 20 days last year.

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Demand for houses continues to rise, despite higher unemployment (access required)

Demand for houses continues to rise, despite higher unemployment <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Builders built a lot more new houses. Builders sold a lot more new houses. Builders are getting ready to build even more new houses. In fact, the Charlotte metro area now ranks ninth among the country’s 381 metropolitan statistical areas in the number of single-family detached building permits issued this year.

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DISTRICT 7: Charlotte City Council candidates talk about development (access required)

The four candidates to replace District 7 Charlotte City Councilman Warren Cooksey are a financial planner, an economist with impressive academic bona fides, a sales consultant in workplace safety, and an outspoken Tea Party organizer. Here's what they have to say about development in the development rich district, which includes Ballantyne and other areas of southernmost Charlotte.

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M/I Homes buys yet more Cabarrus County land, announces another new subdivision (access required)

M/I Homes Charlotte is on a self-developing rampage. The local division of the Columbus, Ohio-based homebuilding giant just closed on a deal to purchase 225 acres of raw land in Harrisburg to develop and build a 297-home subdivision named Blume, according to Tamara Lynch, M/I Charlotte vice president for sales and marketing.

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