Charlotte Condominium Conversions

August 15, 2007

Conversions: Charlotte Condominiums

Something Old, Something NewSome Converted…aha…yet another twist for Charlotte Condominiums…
As I think about the various elements, the variety of processes in the world of real estate most specifically, Charlotte Condominiums…I consider “ conversions”.
A conversion would be a property which has been converted to a condominium. A property which had another use, for instance:
Apartments are the most likely candidate for conversions. Property that was initially built as an apartment and at some point in it’s life span was converted to a condominium.
Cotswold Homes, brick gardens, were built as apartments. At first glance, you might think they would qualify as town homes. Because of their construction, they had to fall into the legal category of condominiums.
Selwyn Village off Wakefield has a town home configuration as well as flats. Obviously they converted to condos from apartments. One clue on the earlier conversions is the tell-tale central laundry facility. And often a central heating system accompanied the apartment status.
Alson Court in Eastover is another conversion. Stately brick with hardwood floors and a handful of carports.
There are many conversions throughout the older sections. My favorites are the handsome old Myers Park mansions that were converted from single family to two or three condos. I applaud that innovative thinking and that was many, many years ago.We might see more of that down the road.
Favorite stories are the apartment/condo/apartment/condo status of Heathstead. One of the largest, if not the largest, condominium complexes in Charlotte. In the SouthPark area, it was one of the pioneer projects and was built by Crosland.
Another favorite in SouthPark is Trianon…and I almost see that being a tear down someday. Precious and pricey location. Still has central heating plant.
Uptown, the elegant Poplar was once apartments. New York flair, solid, classy it was converted long ago and is a coveted location.
Fifth and Poplar started off as Condos but the market was soft and they went to apartment status but I suspect the construction is more to the liking of condominiums. Unlike some apartments which have been converted.
Sometimes I get the feeling that an apartment building, complex, is being built with the eventual intention of conversion because the construction is less costly for the apartments in some cases.
Unique conversions:
Settler’s Place: on North Church St. Adjoins historic N.C. Medical. Five stories. Six units were prior to new building. These units receive tax credit because of historic designation. Newer units face the old cemetery.Exterior construction is EFIS.
2 parking spaces, deeded storage in basement. Older units (5) share rooftop terrace; 16 new units, each with private terrace.
St. Peter’s
Conversion 1996. Historic building. See AtHomeCharlotte.com Walking Tour. Renovated in early 80s. Parking is off W 6th St Complex is at Poplar St and 6th St. Some 2 story units, some three. Exposed brick walls/wood floors. Flats as well as townhouse styles. Basement storage.
Alexander House, Elizabeth-Colonial Heights Pictured above
Conversion. Built in 1917 and converted to condominium in 1993. 509 Clement Ave. Clement Ave was originally constructed to accommodate the trolley so it is wider than most streets and has a boulevard effect. Total of five units at Alexander House.
One of my favorites is in Elizabeth. Built as a condominium for residential use, it has zoning for Office.
Business and warehouse converted to condominiums? You bet. There’s Factory South and Atherton Mills.
The cautionary flag I would throw on a conversion is the construction. And not just the new hardwood floors, the updated kitchens with granite and snazzy new bathrooms…hire an inspector to go over the unit with a fine tooth comb. Both structural and mechanical.Of course, that goes for any property. Yes, even brand new…especially brand new.
That is for another day.
Meanwhile, I suggest “Googling” convert apartment to condominiums. Fascinating and good information.
Thanks for tuning in, Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC, Charlotte’s Condominium Specialist