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Commercial Real Estate

Renovation Report: Crowne Plaza (access required)

Once the renovations are complete, the former Crowne Plaza will be a Fairfield Inn & Suites.  Photo by Payton Guion

Since late February, The Mecklenburg Times has had an interim editor, Jim Stasiowski – or Staz, for short. Staz lives in Reno, Nev. and has been flying to Charlotte a couple of times each month to grab hold of the reins in The Meck Times newsroom. When he’s in town, a fortnight each time, he’s been staying at the Crowne Plaza hotel in uptown. At least that’s where he thought he’d been staying.

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Adapt or die: Real estate lawyers have dealt with many changes (access required)

Lawyer Kenneth R. Benton says real estate lawyers need to stay abreast of recent changes  in the field.  Photo by Nell Redmond

Real estate law has undergone more changes than just about any other area of legal practice since the recession hit five years ago, requiring lawyers in this field to adapt quickly to new regulations and ways of doing business. Charlotte lawyer Kenneth R. Benton of Baucom, Claytor, Benton, Morgan & Wood has been in the real estate game for nearly four decades but said the last few years have brought a slew of significant changes.

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Commercial Confidential: the former Eastland Mall (access required)

Eastland-Mall-002

Since the Charlotte City Council voted in August to buy Eastland Mall – and even prior to the official purchase – rumors have flown around the Queen City about the future of the once-great, now-derelict mall. Would it become a subdivision or residential development? Possibly a film studio? Many in Charlotte were quick to say they thought the old mall would continue to sit, blighted, on Central Avenue.

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Streets of Gold Line? (access required)

StreetcarWEB

Embedded in the pavement of Elizabeth Avenue, the streetcar tracks gleam silver with promise. But with the actual streetcars at least two years away, no one can say for sure whether that promise ever will turn to the gold of extensive commercial development, a particular need for Charlotte’s beleaguered West Side.

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Crescent eyes apartments in Dilworth, but will the community accept? (access required)

Crescent Communities is bringing a 300-unit, mixed-use apartment project to the intersection of Morehead Street  and Harding Place.  Photo by Tony Brown

Dilworth residents aren’t afraid to fight developers wishing to start projects in their neighborhood. In November, after months of protest from the neighborhood – front-yard signs included – the Charlotte City Council rejected a rezoning request that sought to bring a Walgreens and an office building to Dilworth. Residents said it didn’t match the area plan, or their vision, for the community.

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Commercial Confidential: Park Avenue building (access required)

Anne Vulcano, senior vice president at CBRE, said the type of tenants leasing space at the Park Avenue building isn't as important as their reputation.  Photo by Payton Guion

Built in 2000, well before thousands of new residential units changed the dynamic of its neighborhood, the Park Avenue building is a relatively new property that has experienced some of the older South End. Anne Vulcano, a senior vice president in the Charlotte office of CBRE, said the influx of new residents to fill those apartments has, in some ways, changed the leasing makeup of the Park Avenue building, which sits at the intersection of South Boulevard and Park Avenue.

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Renovation Report: E.H. Little Dormitory (access required)

E.H. Little Dormitory is undergoing around $2 million in renovations this summer. Photo courtesy Davidson College

Davidson College students who spent the majority of the last year living in E.H. Little Dormitory probably will be surprised when they return to campus in the fall and find their former residence hall doesn’t look much like the home sweet home they remember. That’s because the college is overhauling Little Dorm as it approaches its 60th birthday and adding to it things that often come standard today.

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