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Alzheimer’s care center to replace proposed hotel on Park South Drive (access required)

The latest twist in a rezoning drama that has been going on for 18 months has left developer CN Hotels of Greensboro with no room for an inn. The outcome of a contested rezoning usually satisfies either the protestors on one side or the landowner and developer on the other. But the case of a vacant 0.72-acre lot at 6026 Park South Drive has been anything but usual.

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‘Chic-urbanism’ apartments going up in Cornelius (access required)

More than one year, two developers and a rezoning battle later, construction is finally underway on new Class A apartments in the Kenton Place mixed-use development on West Catawba Avenue. Kenton Place Partners LLC of Charleston, S.C., last Tuesday pulled nearly $3.5 million in Mecklenburg County building permits to start construction on a three-building, 210-unit complex, which is expected to build out at a cost of more than $25 million, according to Lance Youngquist, one of three partners behind the project.

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Setting the stage for a sale (access required)

Setting the stage for a sale <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Call it the HGTV effect. Home buyers have high expectations when it comes to a new home. You have to grab them in the first seven to 10 seconds or they move on.

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Developing news: Commercial projects likely to increase (access required)

Retail follows rooftops. It’s the old real estate adage explaining how commercial development responds to residential development. So the recent growth in homebuilding and homebuying in the Charlotte market – which is expected to continue into 2014 – will likely be accompanied by increased commercial development over the next two years, even if developers are still cautious about the overall economy.

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Wall Street taps Main Street: Investment firms looking for return on Charlotte’s rental homes (access required)

Wall Street taps Main Street: Investment firms looking for return on Charlotte’s rental homes <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Led by the behemoth Blackstone Group, the largest alternative investment company in the world, institutional investors are buying a lot of single-family homes in Charlotte, fixing them up, renting them out and holding onto them to see if they rise in value. One of every five houses sold in May, June and July in the Charlotte market went to big investors, a higher percentage than in any other market but Atlanta.

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Apartment developers: Renting growing as ownership declines (access required)

Apartment developers: Renting growing as ownership declines <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/10/lock1.png" border=0/></span>

Whether it’s Class A apartments, value-added properties or workforce housing, the Queen City’s apartment market is expected to remain strong in the foreseeable future. Five apartment industry leaders said so on a panel Tuesday morning at Bisnow’s third annual Multifamily Summit held in a ballroom at the Omni Hotel in uptown Charlotte.

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Plans for Belmont development unveil old building (access required)

John Church planned to tear down the 110,000-square-foot, three-level former textile mill in Belmont and put in new retail and residential space. In mid-August, as a wrecking ball dug into the brick, an architectural gem began to emerge: the original Chronicle Mill - Belmont's first textile plant - built in 1902.

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