July 24, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte,NC
Regarding Charlotte’s Uptown Condo Status:
Is Wachovia going ahead with its First Street Cultural Campus which includes a new headquarters and a planned condo tower?
Tom Wurtz, Wachovia's chief financial officer, said to expect “continued progress on all fronts.”
“No change in schedule for the office tower,” he said. As for the planned condo, he said it is “of great interest to us.” However, Wachovia might pursue that project with a partner.
Uptown's condo market has struggled in the downturn, with two towers postponed, one in foreclosure and another stalled by a legal dispute. David Furman, one of Charlotte's early high-profile condo developers, said Wachovia has a year or more to consider its next steps because the condo would sit atop a museum still under construction. “It's not worth worrying about today,” Furman said.
And on another tower, from hotel-condo to hotel:
This is a rendering of the 16-story Hotel Sierra planned beside Time Warner Cable Arena.
A sliver of land beside Time Warner Cable arena that didn't work for a large condo-hotel development is getting a 16-story hotel without the condos.
LodgeWorks of Wichita, Kan., plans to start construction this summer of a 163-suite Hotel Sierra on a third of an acre on the Caldwell Street side of the Charlotte Bobcats home court.
Denny Meikelham, senior vice president of development, said LodgeWorks originally cooperated with Charlotte developer David Furman and his partner on a project that would have combined condos and hotel rooms in a 25-story tower.
When the plan fell through last year due to site restrictions and construction costs, LodgeWorks decided to buy the land from the city and proceed on its own.
“There is so much opportunity in this area, and it's close to everything,” Meikelham said. “This is a forever location. It's only going to get better with the NASCAR Hall of Fame and what's going to happen around it.”
He expects construction of the $35 million project to take about 14 months, which would put the opening in late 2009.
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte,NC
No comments:
Post a Comment