A home at 815 Walnut Ave. could have made history for selling at 10,400 percent of its listing price, except for one thing: Reports of its stunning $7.8 million selling price were incorrect.
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It used to be that Charlotte was known primarily as a transportation hub. Then along came the banking and finance industries, rolling over that reputation. But the 2013 construction of new an intermodal facility might just turn back time for city, restoring it's glory as a crossroads for transport, according to developers for the facility and officials with the state transportation department and Charlotte Douglas International Airport.Read More »
The home was appraised for about $2.2 million in 2011 and sold in August 2012 for $4 million.Read More »
Last year was a historic one for Charlotte, thanks to its hosting of the Democratic National Convention, an event which put a national spotlight on the city. The event didn't just give the city more media attention. In a year when the construction industry was still in recovery mode, the DNC contributed to the city's commercial construction permit numbers as Time Warner Cable Arena and other venues had to be readied for the event. That resulted in a flurry of permit applications in early 2012, county officials say.
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Carl Nordhielm isn't used to doing large-scale renovations before opening one of his company's nightclubs. Nordhielm, chief financial officer of Saddle Up Saloon & Dancehall, said the company usually moves into former clubs or restaurants, places where, usually, hardly any construction is needed to open a Saddle Up.
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"Builders are coming in there and seeing a lot of opportunity because of 485, and that's what is creating a feeding frenzy in this market among builders and developers," said Jay Priester, vice president of development and leasing for Charlotte-based Cambridge Properties. "There are so many possibilities opening up in that area because of the future interchange."Read More »
Few in Charlotte' commercial real estate industry saw Orlando, Fla.-based Parkway Properties coming in 2012. Sure, Parkway was already well established in the Charlotte market. But, according to Andrew Jenkins, it was known as a company that bought mostly Class B office space, looking to make improvements, decrease vacancy rates and drive up tenants.Read More »