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Commercial Real Estate

Praise the land use (access required)

This rendering for the transformation of the Palace movie theater into a new Elevation Church worship center was approved last week by the Cornelius Architectural Review Board. Courtesy of the town of Cornelius

A proposed $6.5 million renovation of a former movie theater into the latest location of a Charlotte-area megachurch and a 210-unit Class-A apartment complex next door could breathe new life into the moribund Kenton Place mixed-use development, the principals behind the separate projects assert.

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Commercial Confidential: NorthPointe Executive Park

Despite a lack of submarket demand, NorthPointe Executive Park has only about 4 percent vacancy. Photo by Payton Guion

In terms of demand for office space, Downtown and SouthPark dwarf the North submarket, which paradoxically pays off for NorthPointe Executive Park. Northern Mecklenburg County is home to Northpointe, and John Ball, a senior leasing agent with Charlotte-based Trinity Partners, said, “There’s not as much deal velocity in that submarket” as in Downtown and SouthPark. “Landlords (in the North submarket) have to really get in there and make deals happen because you don’t know when the next deal might come through.”

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The Common Code: Under HB 120, contractors in NC could follow one set of building standards (access required)

Joe Padilla

When Hoss Hinson is managing a construction project in Asheville, he has to conform to a lot more building-code requirements than when he is working in Concord. But if a bill in front of the North Carolina General Assembly becomes law, Hinson, project manager for Monroe-based Godfrey Construction, will be able to work in Asheville and Concord and everywhere in between without worrying about differences in building codes.

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The bill to nowhere? (access required)

Building plans heads together

Homebuilders warming up their shouts of “Free at last, free at last!” to hail the passage of two bills in the North Carolina General Assembly should stop, call their lawyers and consult their dictionaries first. The bills – House Bill 150 and Senate Bill 139 – aim to curtail local governments’ imposing of non-structural aesthetic building codes on builders of one- and two-family houses. By the wide majority of 98-18, the House passed its version this week, and the nearly identical Senate bill appears poised for equally easy passage.

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Renovation Report: Y2 Yoga expansion (access required)

Y2 YogaWEB

Yoga enthusiasts in Cotswold soon will have more space to practice their poses, as Y2 Yoga is stretching into the second-floor space in the building it occupies in Cotswold Village Shops. Construction started about two weeks ago on the $1.24 million studio expansion, according to Vinoy Reid of VR King Construction, the general contractor on the project. On the building’s second floor, demolition is under way to make room for Y2’s expansion, which is adjacent to space the studio already occupies on that floor. Y2 also has space on the ground floor.

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Same role, new scene (access required)

movie camera

The last time Noah Lazes went against the grain, he lost. Late last year, Lazes, president of the Ark Group, battled futilely for the Carolina Theatre against the heavily favored and deep-pocketed Foundation for the Carolinas.

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It’s not easy staying green (access required)


The city of trees is about to get less green. Pulte Homes has submitted sketch plans to develop a subdivision of 93 homes on 55 mostly tree-covered acres on Hugh Forest Road. According to a city ordinance, Pulte would be allowed to remove about 44.5 acres of trees to make room to build.

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From ‘Go away’ to ‘Go’ (access required)

Cornelius plans WEB

Phil Frankhauser just knew, even before he walked into a roomful of stone-faced residents in this generally anti-development north Mecklenburg municipality. The principal partner of the Columbus, Ohio-based Epcon Communities knew, even though he was greeted in the hallway on that Nov. 29 evening by fliers bearing two red traffic signs: “STOP Epcon Communities” and “WRONG WAY for Cornelius.”

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Addition by ambition (access required)

The Skye Condominiums, at Caldwell and Third Streets, will include a 172-room Hyatt Place hotel. Photo by Scott Baughman

The city’s leaders want more Democratic National Convention-like events, and some developers are planning for fewer Democratic National Convention-like gripes about uptown hotels. Construction has either started on or is planned for hundreds of new hotel rooms in Charlotte, including a 230-unit, 200,000-square-foot Embassy Suites hotel proposed for a site near the Charlotte Convention Center.

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