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.Read More »
Commercial Real Estate
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.
Tagged with: Allen Tate Real Estate Cal Mitchener Charlotte Virtual Home Tours Cindy Barnes Cottingham Chalk Hayes International Association of Home STaging Professionals Janet Thoren Jennifer Manchester Mingle School of Real Estate North Carolina Real Estate Commission Peggy Peterson real estate Staging Suburban PropertiesRead More »
Dilweg Cos., a Durham-based commercial real estate company, has purchased 121 West Trade, a 32-story office tower at the corner of Tryon and Trade streets, for $59.6 million from Cornerstone Real Estate Advisers.Read More »
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.
Tagged with: Beacon Partners Bernard Helm Cassidy Turley Charter Properties commercial development Darrell Palasciano David Dorsch Homebuilding Jon Morris Joyhn Porter Markey Opportunity Research Enterprises real estate retail development The Shopping Center GroupRead More »
Greensboro-based Lomax Properties, a commercial real estate firm, is in the midst of developing Morehead West apartments, a 212-unit community on Millerton Avenue, just off West Morehead Street, hoping that corridor is on the rebound, rather than the relapse.Read More »
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.
Tagged with: American Homes for Rent blackstone group Eric Locher invitation homes j.c. underwood Metrolina Real Estate Investors Association Nancy Braun national association of real estate investment trusts national real estate investors association oakmont homes RealtyTrac rentrange robert shiller The American Home Tom PearsonRead More »
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.
Tagged with: Bisnow Multifamily Summit Charlie Henley Charter Properties Ginkgo Residential Grubb Properties John Porter Marshall Phillips Phil Payne Terwilliger pappas Todd Williams Tom Barker WRH Realty ServicesRead More »
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.Read More »
A new report from a North Carolina nonprofit finds that campaign finance contributions by political action committees to statewide campaigns grew by 9.7% between 2010 and 2012.Read More »
Earth is moving this week on a 2.5-acre patch of the Metropolitan district slated to become home to a 261-unit, Class A apartment complex tentatively named in public documents as South Kings Midtown. The project is owned and being built by Lennar Multifamily Inc., according to public records, as part of a $1 billion nationwide dive into the apartment feeding frenzy by the single-family homebuilding giant Lennar Corp.Read More »