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.
Attached to the phrase “student apartment,” the adjective “luxury” looks blatantly out of place. But that apparent incongruity isn’t stopping a Charlotte-Texas partnership from trying to capitalize on the growth of the University of North Carolina at Charlotte campus.
Some folks love their old house and want a new gourmet kitchen. Some want to fix up the house so they can sell and buy a new one. Some found a bargain on a foreclosure and can afford to have it updated. Still others are simply dollar-conscious, choosing to invest in what they have rather than laying out more cash on something new.
The nine-county Charlotte housing market is no longer inching its way back to a recovery. It is zooming back. But – and this is a pretty big “but” – it is not roaring back, and that’s because builders don’t have enough inventory of completed homes to satisfy pent-up demand.
For years, Sutton House bar sat at the east corner of East Boulevard and Kenilworth Avenue, probably the most prestigious address in Dilworth. With its blue brick façade, the bar stood out like a blinking beacon. Only it didn’t attract many people. On weekend nights, it wasn’t uncommon to see Sutton House almost deserted.
Exterior brick siding work is complete on the $2.4 million Mooney’s Corner, and the four-story office building along Davidson’s quaint and busy Main Street is scheduled to hit its original target spring opening date with about a dozen days to spare.
The mother-in-law suite – a bedroom, bath and possibly a private entrance, decreasing the possibility of unwanted interference to the homeowners’ marital bliss – has come a long way. And it is growing in the process.
Last fall, a company called ES Appraisal Services, based in Florida, went bankrupt. That the company went under isn’t unusual, as companies fold every day. But ES was the latest of three appraisal management companies that went out of business recently, all with the same troubling trend for real estate appraisers.
Officials Sunday night ordered some residents of the Antiquity mixed-use development to evacuate their town houses for a few hours after a sinkhole widened, leaving the entire subdivision without power for the night.
Up north, at University Executive Park, Joe Franco usually tries to shave a few weeks off negotiations, in an effort to seal more deals. Franco, vice president in the Charlotte office of Cassidy Turley, which handles leasing at the 13-building park in northeast Charlotte, said when his firm’s employees line up a potential tenant, they try to “say yes to the deal.”
