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Studio apartments start at $1,135, and that’s the cheapest at new Charlotte buildings

Charlotte’s apartment boom is far from over, and the newest crop of luxury buildings to hit the market features amenities from dog spas to private wine cellars — and price tags to match.

With some 27,000 new apartments planned or underway, prices are still rising across much of the city. Prices remain highest, predictably, at the newest apartments (though you can likely get some deals on rent at brand-new buildings, such as one or two months free).

Here’s a look at how much new apartments cost in four new buildings.

Overton Row

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You might recognize this apartment building on Central Avenue in Plaza Midwood from the Thirsty Beaver, a small cinder block bar whose owners wouldn’t sell to the developer. The apartments are wrapped around the bar, sort of like the house in Pixar’s movie "Up."

The Thirsty Beaver at 1225 Central Ave. in Charlotte, N.C., has hung on through a disruptive construction project of new apartments that has literally turned it into Plaza Midwood’s version of the house from the movie "Up." The business is owned by brothers Mark and Brian Wilson.

Amenities at Overton Row, with 323 units, include a pool, a gym with on-demand fitness video classes, fire pits, a dog park with wash stations and a concierge.

A studio apartment starts at $1,135 a month, a one-bedroom apartment costs $1,255, and a two-bedroom apartment goes for $1,745 and up.

Dwarfed by apartments, The Thirsty Beaver is vowing to stay put

Providence Row

Developed near Providence and Fairview roads, these apartments total 326 units. Amenities at Providence Row include a wine room and wine lockers for residents, a golf simulator, a gym with a yoga room, a sauna, a steam room, a massage room, a car wash, a pet spa, a swimming pool and a hot tub.

A studio apartment at Providence Row starts at $1,335 a month, while some one-bedroom units start at $1,290. A two-bedroom starts at $1,920, while a three-bedroom apartment goes for $2,325 a month or more.

Greenside

The intersection of Kenilworth Avenue and Morehead Street has already been drastically transformed with new apartments, and the 225-unit Greenside building on Harding Place is the latest in that wave of new building.

Tucked behind Lincoln at Dilworth (itself opening soon), the new apartments at Greenside start at $1,219 for a studio. A one-bedroom unit starts at $1,429 a month, and two-bedrooms are listed at $1,899 and up.

For that, you’ll have access to a gym with a yoga studio, a concierge package service, a lounge with a game room and billiards, a demonstration kitchen, a dog park and pet spa, a pool and a "private social network" for residents.

Links at Rea Farms

These 455 new apartments are part of the massive Rea Farms mixed-use development on Providence Road, just south of Interstate 485, on the site of a defunct golf course.

The apartment community includes a virtual golf simulator, a dog park and pet spa, two swimming pools, a gym with a yoga and spin studio, concierge services and a game room with billiards.

Apartments at the development start at $1,185 for a studio, $1,240 for a one-bedroom, $1,665 for a two-bedroom and $2,130 and up for a three-bedroom.

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Over-the-top apartment amenities

Charlotte apartment developers are turning to ever-more-luxurious amenities to lure renters in the city’s crowded market. [email protected]

Rea Farms, just south of Interstate 485, as seen from the air.

Courtesy Lincoln Harris

Portillo: 704-358-5041

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ibadubai · 6 years

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Charlotte Weekend Preview

DAYTONA BEACH, Fla. – The magic behind Kevin Harvick’s "magical" season start may surprise some people.

Of course it takes driving talent, a motivated crew and a smart and innovative crew chief (Rodney Childers), but when asked about the secret to the Stewart-Haas Racing No. 4 Ford team’s success, Harvick conceded it was a less-tech and a whole lot more from-the-ground up, good people, deep roots kind of kumbaya.

Like an artist beginning on a blank canvas with a masterpiece inspiring each stroke, the Harvick team was given free will to create a winning operation and it has already resulted in the 2014 championship and put them in prime position as championship favorites this season. Seven times in the past nine years, Harvick has finished first, second or third in the Monster Energy NASCAR Cup championship.

The present day team boasts a series best five wins – only 12 races into the 2018 season, collected the Monster Energy All-Star trophy last week and is looking to earn its third consecutive points-paying victory in Saturday night’s Coca-Cola 600 at Charlotte Motor Speedway (6 p.m. ET on FOX, PRN, SiriusXM NASCAR Radio). It would be the second three-win streak already for Harvick this early in the season.

"Our team, our 4 team in general, is a little bit different than probably most teams because Stewart-Haas Racing allowed us to build it," Harvick explained shortly after celebrating his All-Star victory Saturday night.

"We didn’t have anything. We hired a crew chief. We courted Rodney [Childers] for, I don’t know, seems like a year and a half, whatever it was. It was a long time. We got that piece done first. Then it was, okay, now you need to go hire everybody on your team. He was on gardening duty, so he got to go and interview every person that was on the race team to start with.

"We got a brand new tractor and trailer. Every nut and bolt in it, every car was built to the specs that blended together with what he wanted and what Stewart-Haas had, the Hendrick relationship at the time.

The methodical approach, with a huge nod of trust between Harvick, Childers and the Stewart-Haas Racing team management has been nothing short of remarkable. And judging by the success this season, only getting stronger.

Harvick has three wins at Charlotte including two Coca-Cola 500 wins in 2011 and 2013. He has nine top-10 finishes in the last 10 races here, including two wins and three runner-up finishes. His victories at Dover and Kansas along with his win in last Saturday’s All-Star race make him the absolute favorite on the grid Sunday night.

And best of all for this team, they can say they have come by this success by doing it "their way."

"Everything on our team was built around what we wanted," Harvick said. "That’s not normal. I think as you look at a lot of situations, you’re going to have guys that are going to go into a team. You’re going to get a few of these cars a few of these cars, we’re going to give you a couple guys from over here.

"That’s not the case. When you look at it, young owners, we have a group of racers from top to bottom inside and out that love to race cars. That’s all they want to do. They don’t care what color your shirt is, how many buttons are on it. Just show up and do everything you can to win the race. That isn’t normal in this garage.

"I think as you look at that environment that has been created, it’s just about racing. Everybody’s input, everybody’s involved. It’s a special place to work. For me, it’s the same scenario. It’s the right people, right situation. We all have a lot in common. We all have kids, are similar in age. There’s not a generation gap from our ownership group or management or crew chief. If I told Rodney, I’m not going to be at the meeting today, I’m going to watch my son’s baseball game, they would say, ‘Have fun.’ If I’m going to watch my kid play football, baseball, basketball, you have the opportunity to do that, that’s rare. That’s not something we all get to do.

"That’s the type of situation that for me, I just feel like it works. We all respect each other. But we all have a lot in common."

XFINITY SERIES RETURNS

The NASCAR Xfinity Series returns to competition Saturday with the Alsco 300 at Charlotte Motor Speedway (1 p.m. ET on FS1, PRN and SiriusXM NASCAR Radio) after a two-week break in the schedule. Elliott Sadler continues to hold a hefty 38-point lead over rookie Tyler Reddick in the championship standings.

The series is on an amazing string of new winners – a different driver has hoisted the trophy in all 10 of the season opening races and should a new driver win Saturday, it would be only the second time in series history it has seen 11 different winners start the year.

Sadler is hoping he can be the 11th driver to add to the win streak. It’s been over a year – since Kentucky in September, 2016 – since he’s won. Yet the crafty veteran has put together an amazing mark of 10 top-10 finishes to date.

Monster Energy NASCAR Cup Series Next Race: Coca-Cola 600 The Place: Charlotte Motor Speedway (Charlotte, N.C.) The Date: Sunday, May 27 The Time: 6 p.m. ET TV: FOX, 6 p.m. ET Radio: PRN, SiriusXM NASCAR Radio Distance: 600 miles (400 laps); Stage 1 (Ends on lap 100), Stage 2 (Ends on lap 200), Stage 3 (Ends on lap 300) and Final Stage (Ends on lap 400) What to Watch For: A win for Kevin Harvick would be his third straight giving him six victories through 13 races. He could become only the seventh driver in NASCAR history to win at that rate. … Roush-Fenway Racing driver Matt Kenseth will be making his second start of the season. He is a two-time winner at Charlotte and holds the fourth best driver rating – behind Jimmie Johnson, Kyle Busch and Denny Hamlin. … Kasey Kahne’s four wins at Charlotte is second only to Johnson’s eight among drivers entered this weekend. … The top-five starting positions have easily produced the most winners of the 600 – 54 percent of the races have been won those positions on the grid. The outside pole position has produced the most race winners (17). … Johnson holds the record for winning at Charlotte after starting from the farthest position (37th, in 2003) on the grid. … Ryan Newman is 0-for-34 at Charlotte, the longest winless streak among those entered. … The Charlotte season sweep has happened eight times including each year from 2004-07. … Hendrick driver Alex Bowman won his only NASCAR national series race here at Charlotte in last year’s Fall Xfinity Series race.

NASCAR Xfinity Series Next Race: Alsco 300 The Place: Charlotte Motor Speedway (Charlotte, N.C.) The Date: Saturday, May 26 The Time: 1 p.m. ET TV: FS1, 1 p.m. ET Radio: PRN, SiriusXM NASCAR Radio Distance: 300 miles (200 laps); Stage 1 (Ends on lap 45), Stage 2 (Ends on lap 90), Final Stage (Ends on lap 200) What to Watch For: There have been 10 different winners in the first 10 races of the 2018 season. A new winner this week would give the series its second longest streak of different winners to start a season. There were 13 in 1988. … Last year there were 18 winners over the course of the season tying the all-time record mark first set in 1988. … Elliott Sadler continues to lead the championship. He has scored a top-10 finish through all 10 races and leads his JR Motorsports teammate Tyler Reddick in second by 38 points. … Sadler is 0-for-22 at Charlotte and looking to score his first win since Sept. 24, 2016 at Kentucky Speedway. … Reddick leads Christopher Bell by 14 points in the Sunoco Rookie of the Year campaign and the two are also ranked second and third in the championship standings behind Sadler. … Seven times a driver has swept both Charlotte Xfinity Series races in a season. Austin Dillon is the last to do that (2015) and Kyle Busch has done it twice (2008, 2013). … There are five Cup drivers entered for Saturday including Kyle Busch, Brad Keselowski, Ty Dillon, Chase Elliott and Jamie McMurray. … Elliott will be driving the No. 23 Chevrolet for GMS Racing, filling in for Spencer Gallagher, who is going through NASCAR’s Road to Recovery program. Elliott is scheduled to make four more race starts in the car.

— NASCAR Wire Service —

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ibadubai · 6 years

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A look at how Charlotte’s condo/townhouse market is performing — and the 5 priciest listings (SLIDESHOW) – Charlotte Business Journal

Existing homes for sale in the Charlotte market have followed a familiar trend for multiple months, marked by price increases, plunging inventory and fluctuating sales counts.

In April, average sales prices jumped 8.1% year over year, as inventory plummeted 22.6% to a 2.1-month supply on the market and sales increased slightly by 1.6% — despite the busy spring selling season underway. That’s according to the latest housing activity report released on a monthly basis by the Charlotte Regional Realtor Association.

When looking specifically at the condominium and townhouse segment of the resale market, which are grouped together by the CRRA, much of the same holds true.

The accompanying photo gallery provides a peek at the five most-expensive condos listed for sale in the Charlotte area as of May 11.

"I think it’s that common message of low, low inventory," Jason Gentry, president of the CRRA, told CBJ. "If I’m talking to a buyer, I’m going to be telling them now is not the time to try to negotiate a good deal for yourself. If you find the property that you want, that first offer that you submit may be the only opportunity you get … so going in low is not the game to play right now."

Gentry, managing broker at Premier Sotheby’s International Realty, recalled a recent situation in which his client waited three weeks after first seeing a condo in SouthPark to submit an offer. By that point, two other offers had come in. Though his client ultimately won out and purchased the condo, he ended up paying more than the list price.

A glimpse at sales prices shows condos and townhouses are selling in the local market for 7.7% more, on average, than a year ago: from $196,918 to $212,000. The median sales price is up 8.8% from $165,000 in April 2017 to $179,500 this April.

Looking back three years ago, when the average sales price was $177,446 in April 2015, prices have jumped 19.5%. The median sales price has increased 21.1% in that same time span from $148,250.

The inventory of condo and townhouses listings has followed a pattern similar to single-family residential homes: one of large drops. Holding at 729 units for sale in April, inventory was down 25% from the previous year.

The steepest decline in inventory came from units priced at or below $150,000, which posted a nearly 68% decrease, down from 248 to 80. On the other hand, condos and townhouses priced at $1 million and higher nearly doubled from 12 to 23 units listed for sale.

"We talk a lot about $300,000 and below — but that’s talking more specifically about single-family sales — we’ve seen that be the place where people are running into multiple-offer situations," said Gentry. "That part of the market is just really hot, so I think it makes sense that it would be a lower price point for condos and townhouses."

The decrease in number of condos and townhouses on the market is even higher when comparing this year to April 2015, when 1,370 homes were listed for sale. That’s down 46.8% when compared to three years ago. The aforementioned price points, followed by the $150,001 to $190,000 category, represented the largest drops.

Gentry did note that inventory has steadily gone up in the $250,000 to $350,000 range, attributing builders’ focus on delivering product at higher price points as a likely reason.

Still, after attending a MetroStudy briefing last week on new home construction in the Charlotte region during the first quarter, Gentry walked away with the impression that low lot supply and land production will continue.

"Lots are gong to start becoming a problem, which means less new construction and lower inventory with resales," he said. "It sounds like things are going to keep depressing in terms of inventory."

As for sales, condo and townhouses closings were down 1.2% year over year in April to total 591. However, that number is up 19.4% from 495 in 2015. For both timespans, sales fell in the $120,000 and below grouping while rising or remaining flat at the other price points.

Gentry said move-in ready homes, be it single-family or condo/townhouses, continue to sell quick but that buyers willing to put in a little sweat equity could see that pay off in terms of the final price tag.

"I think you’ve got more opportunity in the condo market to get a decent deal and not have to overpay, but I think it’s always a thing of timing," he said. "If it’s the right listing, it’s updated, it’s got fresh paint, the furniture is good and it shows well, that stuff moves incredibly fast.

"If it’s a little dated, it might take a little bit longer to move. There’s your opportunity in this market."

For its reports, the CRRA pulls Carolinas Multiple Listings Services Inc. data, which covers 16 counties in the region: Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties in North Carolina as well as Chester, Chesterfield, Lancaster and York counties in South Carolina.

Existing homes for sale on the Charlotte market have kept up a familiar trend for multiple months, marked by price increases, plunging inventory and fluctuating sales counts. Is the condo/townhouses segment following suit?

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Vi Lyles’s $50 million housing trust fund? That’s not bold enough | Charlotte Observer

I admire Charlotte Mayor Vi Lyles’s endeavor to increase the Housing Trust Fund to $50 million, but it isn’t bold enough.

Today Charlotte needs upwards of 34,000 more affordable homes. With the average cost of a new apartment home close to $200,000 per unit, we have a $6 billion-plus problem. At the same time, we must provide housing for the 60 new residents who arrive here on average every day. At that pace, the average new apartment community would be filled in 4.5 days, requiring more than 80 new apartment communities a year. Many of these new arrivals are young millennials. Based on reported income, 80 percent of millennials cannot afford the average price of a new apartment. As more people fight for the limited supply available at reasonable rents, our housing affordability gap is growing dramatically.

To create the kind of scale necessary to prevent the problem from getting significantly worse, government has to leverage the private sector, keeping in mind several important considerations.

First, the Housing Trust Fund should be a joint public/private endeavor with a goal of $250 million and a transparent, published process that encourages all developers to include an affordable housing component in their new projects, not a negotiated process that potentially favors some.

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Second, Housing Trust Fund dollars go further by leveraging the private sector. As one of the largest contractors in Charlotte often puts it, the least affordable projects he builds are so-called affordable housing under government programs. A typical affordable housing unit costs about 20 percent more than the same unit built privately because of the bureaucratic costs of dealing with the government.

Third, developers are like water – they flow to the path of least resistance. If developing in Charlotte gets too onerous, they will develop in cities that are more accommodating. Impediments range from impact fees to the time required to secure entitlements to building code inspections. An attitude of helping find solutions at every step is critical.

Fourth, we need to quit discriminating against multi-family dwellings. For example, trash pickup only costs the city $56 for a multi-family unit versus $186 per unit for a single-family home. Urban land is scarce, and we should not penalize developers for maximizing dense development, but reward it and penalize those who under-utilize land sites.

Fifth, parking is one of the most expensive components of housing, costing $20,000 to $50,000 per space in urban areas. In new projects, we should be encouraging less parking, not more. World-class bike infrastructure would be a cost-effective way to create more density in our city while reducing our parking and driving demands. A bike lane is capable of carrying more than 5,900 commuters per hour versus a car lane that can carry only 1,300 per hour, but streets must be safe for bikers.

Housing is a supply-and-demand problem. We have demand that has significantly outstripped our supply, which has caused the average monthly rent for a new apartment to approach $1,400. A robust Housing Trust Fund that includes the public and private sectors will allow us to increase our supply dramatically in order to minimize the rate at which rents are increasing.

Clay Grubb is CEO of Grubb Properties.

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Does Charlotte have the will to be better? | Charlotte Observer

In talent management circles, there’s a performance management tool that posits how an employee’s performance often comes down to one key question: Is it a matter of will or is it a matter of skill? These are ultimately the two dimensions to job performance. I think the same is true for creating community outcomes in Charlotte. I think we have a will issue.

While we definitely have our challenges — not unlike most communities — Charlotte clearly has potential. And, as with an employee who isn’t living up to his potential, I wonder what’s at the root of our performance problem. It is often a combination of not knowing what to do or being unwilling and unmotivated to do what we know. This is known in leadership theory circles as the "skill-will matrix" — a decades-old model originated by authors Paul Hersey and Ken Blanchard.

I’m stretching the model a bit by applying it to a community. But when I contemplate Charlotte’s issues, I often wonder: Do we really not know what to do? Or are we reluctant to do it?

It’s true that there are some intractable problems that feel bigger than being a matter of skill and will. There are other problems, though, that feel well within our reach to solve. In some cases, we also create “solutions” that really exacerbate the problems.

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Choose your favorite issue (or opportunity, depending on your worldview): affordable housing, homelessness, affordable and accessible health care. How about school resegregation and the threat of municipal secession, disparities in educational outcomes, third-grade reading? For some of these issues, there is often evidence that would inform a course of action we should take or a path we should avoid. For others, we’re usually studying it, in committees about it, on task forces for it. We’re benchmarking other communities about it, issuing reports to explain it. We’re funding nonprofits and initiatives to address it.

Reasonable people can disagree about whether it’s necessary, but we spend time “getting smart” about the problems so that we can feel confident in recommended solutions. With persistent, long-standing issues, this approach can feel painfully non-responsive. During the learning phase, for the most part, we look for opportunities for revelation and not reassurance. We increase our skill set; we don’t increase our will.

Ultimately, when “high skill” meets “low will,” performance stalls. According to the skill-will matrix, when this happens, the remedy is to try to understand where the lack of will comes from and then determine what the motivation is. When “high skill” meets “high will,” employees produce.

Maybe it’s more than motivation. What is it that will compel us to act, to pursue, to persist? Is it our faith? How do we become a high-skill, high-will community that pursues actions that can do the broadest, greatest good?

Whoever we are as a community is the result of the actions we take as individuals. It is an ageless question and debate, and it is something each of us should ask ourselves as we approach another election in this community.

Charlotte-Mecklenburg, what’s our motivation? And what will it take for us to be a star performer?

It’s a matter of will.

Email: [email protected]

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Charlotte spent $2 million for housing project. After 11 years, it hasn’t been built. | Charlotte Observer

In the summer of 2007, the city of Charlotte struck a deal with a prominent developer to build affordable housing adjacent to the Scaleybark light-rail station.

But after waiting nearly 11 years and spending $2 million from the city’s Housing Trust Fund, the apartments haven’t been built.

The city could get its money back, but is asking the City Council to give developer Peter A. Pappas of Scaleybark Partners LLC more time. Council members will consider Monday a 60-day extension with Scaleybark Partners.

The vote comes as the city is struggling to build affordable housing as rents increase citywide. Building affordable housing was a key promise council members made in their “Letter to the Community” in fall 2016, after the Keith Lamont Scott protests. But the city’s Housing Trust Fund, which subsidizes many new affordable projects, is nearly depleted.

Republican city council member Tariq Bokhari, elected in November, said it’s frustrating that the project hasn’t moved forward.

“The land is just sitting there,” he said.

Bokhari said the city should consider getting its money back immediately, if there are not “aggressive” signs that the apartments are coming quickly.

The city and the Charlotte Area Transit System bought nearly 16 acres for $9.2 million. The city helped pay for that with $2 million from the Housing Trust Fund.

In 2007, the city sold the land to Scaleybark Partners at a loss for about $5.2 million to get affordable housing and the type of transit-oriented development leaders wanted. (The city had also cut $1.8 million from the price because of “challenging” soil conditions.)

Pappas could not immediately be reached Thursday.

Real estate records show his development company recently sold about 4 acres of the site at South Boulevard and Clanton Road to Pulte Homes for $6.6 million. Prices start at almost $400,000 for the 58 townhomes, with more planned in future phases.

There is still enough land remaining to build the 80 apartments called for in the city deal.

Development has surged north and south of the Scaleybark Station since the Blue Line opened, including thousands of new apartments to the north and a cluster of breweries, cideries and distilleries to the south.

The city’s agenda for Monday does not give a history of the sales prices for the site, and it does not mention that the city spent $2 million from the Housing Trust Fund on the deal.

Having affordable housing near a light-rail station is considered important, because it’s easier for residents to get around without a car.

But if the Scaleybark deal falls through, the city could consider buying other vacant parcels near Scaleybark.

Another option is to use city-owned land near light-rail stations such as Archdale and Woodlawn. The city has surface parking lots near those stations, but it could build a parking deck surrounded by apartments. That’s similar to what Scaleybark Partners had envisioned for the 16-acre site at Scaleybark.

The agreement with the city called for Scaleybark Partners to do several things.

The first was to create a temporary park-and-ride parking lot for CATS. That has been completed. The developer was also required to plant trees and build a new sidewalk. That has also happened.

But the main part of the deal has been elusive.

The developer was supposed to build a parking deck to replace the surface lot, as well as 80 apartments reserved for people earning less than 60 percent of the area’s median income.

In 2011, Pappas blamed the economic downturn, but the economy has now been strong for several years.

Pappas has built several high-profile projects, including the Metropolitan, a mixed-use development in midtown earlier this decade.

He is also redeveloping another midtown sitenear Pearl Street Park. Two years ago, the City Council agreed to give Pappas $4 million in property tax rebates in exchange for him building some roads and other infrastructure on the site.

But the city didn’t require Pappas to include affordable housing in the project in exchange for the $4 million. At the time, Mayor Vi Lyles – then a city council member – said the city had made a mistake. She said future projects seeking city money would need to include affordable housing.

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ibadubai · 6 years

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These Amazing Homes Around Charlotte Will Make You Want To Move

Charlotte Patch has pulled together a list of some of the most homes for sale on the market right now in the area. To view more photos of these homes, you can click on the blue hyperlink below each house.

Want to learn about what’s for sale in your neighborhood? You may find your own hidden treasure or bargain home on the Charlotte Real Estate page.

Here are this week’s picks for beautiful homes on the market in the area:

2210 Hopedale Ave, Charlotte, North Carolina

A luxurious Myers Park estate home is on the market for $3,195,000. This six-bedroom home boasts almost 6,600-square feet of living space and features large formals areas with high ceilings, a large family room, two sitting rooms and a mudroom entry area in the back of the home. Upstairs is a master suite with dual closets, as well as four en suite bedrooms with walk-in closets. The third floor features a media room and a sleep over room. This home also comes with a detached two-car garage, a rear covered porch, marble finishes, custom mill work and more.

2724 Holt St, Charlotte, North Carolina

A Craftsman-style bungalow is on the market in NoDa for $425,000. This three-bedroom home has beautiful hardwood flooring, an open floor plan and a kitchen with a large island and granite counters. Bedrooms feature vaulted ceilings and the master bedroom has a coffered ceiling and a luxurious bath with Travertine tile. This home boasts a low maintenance, fenced back yard, a circular driveway, a porch perfect for rocking chairs, and more.

13936 Clarendon Point Ct, Huntersville, North Carolina

A spacious lakefront home minutes from Birkdale Village is on the market in Huntersville for $877,000. This light-filled three-bedroom home has more than 3,100-square-feet of living space and features an open floor plan with an adjoining kitchen and breakfast area, and den. This home has been freshly painted and updated, and also includes a screen porch, deck and a terrace with an outdoor fireplace, and more.

525 Pine Rd, Davidson, North Carolina

A gorgeous Cape Cod-style home is on the market in Davidson for $799,00. This four-bedroom home boasts nearly 3,400-square-feet of heated living space and includes two fireplaces, three living areas, a formal dining room and a large sun room with a view of the private backyard. The chef’s kitchen comes with a gas cooktop, an island and a breakfast room. This home features heaps of built-ins, plantation shutters, new air conditioning units, a new furnace, as well as a new roof with architectural shingles, and more.

213 Tuskarora Trl, Mooresville, North Carolina

A spacious three-bedroom home on the shore of Lake Norman is on the market for $1,590,000. This home has more than 4,300-square feet of living space and boasts luxurious features, such as an updated spa bath with a rain shower, and a travertine marble fireplace. Chefs will find plenty of space in the gourmet kitchen that features a double island. This home also comes with a 500-square-foot guest suite that includes a full bath, living area and kitchenette above the detached garage. Outside, you’ll find more than 400 feet of private shoreline, private dock, sandy beach, landscaped yard and more.

Photos courtesy of Realtor.com

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ibadubai · 6 years

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Greystar secures $52M financing to buy Rutgers student housing

CBRE Capital Market’s Debt & Structured Finance team has arranged acquisition financing on behalf of Greystar/PIMCO for Rockoff Hall, a 674-bed, 186-unit student housing property in New Brunswick, NJ.

Located at 290 George Street in downtown New Brunswick, the 12-story building is within walking distance of Rutgers University.

CBRE’s Charlotte-based Steve Heffner, Nate Sittema, and Kristen Reilley secured a $52.05 million Fannie Mae loan for the buyer.

Heffner, vice chairman, CBRE Capital Markets, commented, “The Rutgers New Brunswick campus has experienced 15 percent enrollment growth over the past five years and this property features ample state-of-the-art student housing amenities and offers Rutgers students a unique living experience with the freedom of an off-campus lifestyle.”

Built in 2005, Rockoff Hall includes 8,135 s/f of retail space and 185,114 s/f of residential space with 186 units averaging 995 s/f. The seller was Pittsburgh-based student housing specialist McKinnery Properties, which formed a joint venture with private equity real estate firm Virtus Real Estate Capital to buy Rockoff Hall for $44.1 million in 2013, according to New Brunswick Today.

When it was first built, to property was hailed for introducing luxury student housing to the Rutgers campus.

FourPoint Investments and BlueGate Partners have arranged the sale to Greystone.

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ibadubai · 6 years

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Lyles Makes An Argument For The City To Purchase Housing

Mayor Vi Lyles on Charlotte Talks for "Mike and the Mayor."

Charlotte Mayor Vi Lyles says she’s worried that the city’s income diversity will be hurt if it continues to lose affordable housing units and doesn’t improve its bus system.

In the first of her monthly chats on Charlotte Talks with host Mike Collins, "Mike and the Mayor," Lyles expanded on an idea broached at last week’s council retreat for the city to purchase housing stock. The council has been trying to grapple with the ongoing housing demand for low-income residents. This city has already made headway on adding 5,000 additional affordable housing units, housing in which the household pays no more than 30 percent of its annual earnings.

"We had a goal of 5,000 units in five years in 2016, as a council," Lyles said. "What we said is let’s accelerate that same goal, preserving and building new housing. And we are on that route. And that was right after the Keith Lamont (Scott) shooting.

"So when we talk about what’s going on now, think about the development pressure that’s taking place from the apartments that were built that are affordable now, they were built in the ’70s and the ’80s, and the life cycle of those apartments are either going to mean that they either have to be reconditioned, refurbished and brought up to date, or they’re going to be torn down," she said. "My fear is that we will tear down apartments where people are paying under $1,000 a month for apartments that are going to cost more than $1,000 a month.

"When we do that, we become a less diverse city," Lyles added. "And that diversity is around income levels and job opportunities."

Although the city’s light rail is expanding, Lyles says the bus system needs to be improved.

"We’re not growing our transportation system to make it easy for people to get to work," she said.

Lyles, who reiterated her support for the idea of the city purchasing housing, suggested that the city council and community stakeholders are on board.

"All of those things matter when you’re going to have a diverse population. … We can acquire apartments that are affordable and either keep people in them or cause new opportunities for people to move in them."

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ibadubai · 6 years

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Venterra Realty buys Nashville apartments represented by HFF – Houston Business Journal

A real estate investor based in Houston and Toronto now owns a piece of the action on Nashville’s Charlotte Avenue, which is poised for light rail under a proposed expansion of the city’s transit network.

Venterra Realty has purchased the West 46th apartment complex at 4510 Charlotte Ave., for a price not yet disclosed by public records. For Venterra, the 171-unit building, visible from Interstate 40, is a high-profile addition to a local portfolio that includes only one other property: Hamptons at Woodland Pointe, a community of low-rise apartment buildings east of Nashville International Airport, near Percy Priest Lake.

The real estate finance firm HFF arranged a loan for the purchase, according to the firm’s Jan. 30 press release, which disclosed the property sale. Cortney Cole, managing director in HFF’s Houston office, was on the team representing HFF, according to the statement.

Venterra Realty currently manages a portfolio of 15,000 multifamily units totaling more than $1.6 billion, according to the statement. Messages to Venterra officials were not returned.

West 46th, which opened in 2016, was developed by Nashville’s Stonehenge Real Estate Group. By our count, Stonehenge and its investors have fetched four of the nine highest sales prices on record for Nashville apartment complexes, when ranked by the measure of price-per-unit.

"Stonehenge was thrilled to provide another great project for Nashville, our investors and the new owners," founder and CEO Todd Jackovich said in an email. "We look forward to future projects as well."

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ibadubai · 6 years

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‘Can’t stop smiling’: Makeup free Charlotte Crosby jets to Australia…after being caught kissing rumoured new flame Joshua Ritchie on a steamy night out

She was just seen kissing her rumoured new boyfriend, Ex On The Beach star Joshua Ritchie, in the UK on Saturday.

And on Tuesday, Geordie Shore’s Charlotte Crosby revealed she had jetted to Australia, and couldn’t ‘stop smiling’.

The 27-year-old reality TV star took to Instagram to share a makeup free snap of herself in a hammock, saying how thrilled she was to be Down Under.

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‘Can’t stop smiling’: Makeup free Charlotte Crosby jets to Australia…after being caught kissing rumoured new flame Joshua Ritchie on a steamy night out

‘Massively jet lagged. No makeup. Slightly sunburnt. Should of defo remembered my sunglasses. But cant stop smiling in my favourite place in the world Australia. I cannot wait to meet the Bondi Sands team tomorrow,’ Charlotte captioned the snap.

In the image, she has her long dark hair out and over her shoulders, and wears a tight black T-shirt, relaxing in the sun.

Charlotte will be attending a VIP launch event for the tanning brand on Wednesday, with a host of local Australian celebrities.

Smitten? She was just seen kissing her rumoured new boyfriend, Ex On The Beach star Joshua Ritchie, in the UK on Saturday (pictured) Keeping her fans up-to-date! The pair couldn’t keep their hands off one another and Charlotte even shared a snap to Instagram of them together, from the night out

The guests will cruise around Sydney Harbour on a yacht.

Charlotte was seen at the weekend, on a night out in Newcastle with rumoured new beau Joshua Ritchie.

The pair couldn’t keep their hands off one another and Charlotte even shared a snap to Instagram of them together, from the night out.

They were out as Charlotte filmed her new TV series.

In December, they were seen together at an MMA fight of a mutual friend.

Dating? In December, they were seen together at an MMA fight of a mutual friend Case of the ex: Charlotte – who is the ex of Geordie Shore’s Gary ‘Gaz’ Beadle – has been mending her heartache from her latest split from her turbulent on/off lover Stephen Bear (seen)

Charlotte – who is the ex of Geordie Shore’s Gary ‘Gaz’ Beadle – has been mending her heartache from her latest split from her turbulent on/off lover Stephen Bear.

Charlotte had brushed off her former flame’s desperate attempt to ensnare her heart once again as she ignored his public declaration of love on Instagram.

The couple’s 11-month romance came to a dramatic end in October, plagued by ‘cheating’ claims and Charlotte even feuding with Bear’s family on Twitter.

Despite briefly rekindling their fiery romance, she vowed they had gone their separate ways for good when she appeared on television in early January.

The brunette bombshell claimed she has been spurred on to ‘look her best’ to ‘get him back’ with an envy-inducing revenge body following their split.

Over: The couple’s 11-month romance came to a dramatic end in October, plagued by ‘cheating’ claims and Charlotte even feuding with Bear’s family on Twitter

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ibadubai · 6 years

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Find Charlotte Housing For A Fair Price

If you’re looking for Charlotte housing, you’ve come to the right place. Here, you can learn how to find the best places to live. By doing your research, you can buy or rent a place to live without too much trouble.

When looking for a home to buy or rent, you need to have an inspection service go over it for you. That way, if there are any problems, you can know about them before you move in. Sometimes, if you’re not careful, you can end up buying a home that has a lot of problems that need to be fixed before you are able to live in them. Or, the problems are small and will get worse after you move in over time. Either way, work with the seller to get problems fixed or don’t work with them and look elsewhere if they don’t want to make the home livable for you.

If you want to rent a place, look for a place that is having a move in special of some kind. That way, you can save a little bit of money and won’t have to worry too much about how much it costs to move in. A common move in special is not having to pay the first month’s rent, for instance, which can make moving in a lot more affordable. Just be sure that the apartments aren’t known for being bad because sometimes that’s how they get residents even if their apartments are in terrible shape.

You need to look carefully at the Charlotte housing market if you want to find a home that is suitable for you. Whether you plan to rent or buy, there are options. Just make sure you pick out what is going to work best for you and your family when you move in.

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ibadubai · 7 years

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Have You Heard The Latest In Charlotte Beach News?

Have you heard the latest in Charlotte beach news? For the first time in decades, the Queen City, the biggest metropolitan area in North Carolina, has a public beach that area residents can enjoy. This is something of a surprise to locals, many of whom either came to the area or were simply born in the many years after the last area beach closed. The reason it shocks them is because Charlotte is 150 miles inland, roughly three to four hours of driving from the Atlantic Coast.

The reason it’s possible is because of the many lakes surrounding the Charlotte area. Most are managed by the local utility company, Duke Power, although one is used as a reservoir for the city’s drinking supply. Most of these lakes are manmade or seriously augmented for more volume, depth, and water control. Together, they have hundreds of miles of shoreline, many of which are slotted into portions for huge and expensive private homes.

However, the local municipal government owns some of it, and someone decided to truck in many tons of sand for a particularly gentle slope along the water’s edge. A new public beach was formed, and area residents have been flocking to it whenever they can for sunbathing, swimming, picnics, and other beach activities that would normally be a long day trip or even a weekend.

To say it’s been a success is an understatement. Capacity seems to be an issue, as there was not enough parking for the crowds that showed up, and local businesses have seen mixed results. They’ve seen more foot traffic, but they’ve also seen precious parking spaces eaten up by overflow from the parking lot. Better crowd control and more parking have been put in place since and will be improved more during the fall and winter.

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Learn More: http://www.ibadubai2011.org/have-you-heard-the-latest-in-charlotte-beach-news/

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