Rhea Greene knows that the Steel Yard at South End isn’t for everyone. Companies looking for cookie-cutter office space in the average high-rise or office park probably won’t quite feel at home at the Steel Yard, with its concrete floors and exposed masonry.
For every $1 the York County, S.C., town of Fort Mill receives in property taxes on residential properties, it has to spend $1.40 on services such as fire, police and schools. But for every $1 the town gets in taxes from commercial properties, it spends only 31 cents on services.
If you permit it, they will build. And despite a slow start, Mecklenburg County permitting this year is finally in positive territory compared with the same period in 2012, which opens up the possibility of more construction activity this year than last in the Charlotte market.
The closing of Proffitt Dixon Partners’ purchase of the site for the Fountains at Stonewall apartment complex may be delayed up to two months, although a city official said he expects the closing to happen on schedule next week. The Fountains at Stonewall is a five-story, 210-unit luxury apartment complex planned for one of the few vacant patches of dirt in uptown Charlotte.
"The market is changing with different options for these retailers, and I'm afraid it might be difficult to fill some of this space," said Mary Hopper, executive director of University City Partners.
About eight to 12 months ago, New York-based Mascia Development shifted its focus more toward buying commercial real estate instead of building it.
Instead of houses, a stretch of Steele Creek Road in southwest Charlotte is expected to become home to a convenience store-size shopping center next to a larger shopping center.
Hendrick Motors of Charlotte has paid about $2.7 million for roughly 5 acres next to its Mercedes dealership on Independence Boulevard.
For many, 13 is a dreaded number, a cursed pair of digits to be avoided at all costs. But ’13 might be a year of luck and plenty for some Charlotte-area developers and real estate and construction companies. Our 13-part series will take a look at companies and people expected to be among the busiest and biggest newsmakers this year.
The permits don’t lie: Mecklenburg County homebuilding jumped in 2012 from 2011. But permit figures have a long way to go before returning to prerecession levels.