Author: Chris Martin

Demolition has begun in SouthPark at a site on Sharon Road where Charlotte real estate executives Allen Tate Jr. and John Crosland Jr. plan to build a dual-branded hotel with 270 rooms. The project will include a 150-room Hilton Garden Inn and a 120-room Homewood Suites, according to Chartwell Hospitality, a real estate company based in Nashville, Tenn., that is partnering with Tate and Crosland on the project. Chartwell specializes in the acquisition, development and management of hotels. The…

Six buyers are under contract to purchase units at a new townhome development in Charlotte's South End that is expected to start construction in late June. Helix SouthEnd, a 29-unit development planned for the corner of Doggett and Hawkins streets, is a joint venture between real estate firms BPA Residential and Selwyn Property Group. The firms bought the 1.1-acre site for $750,000 in 2013 from a lender that had foreclosed on the property in 2010. The site, across Hawkins Street from the Design…

Home prices in the Charlotte market rose 7.3 percent in March from March 2014 and increased 2.3 percent from February, according to the latest CoreLogic Home Price Index report. The figures include distressed sales such as short sales and real estate-owned transactions. Excluding distressed transactions, prices in the Charlotte market showed an annual increase of 7.6 percent in March. Statewide, home prices in North Carolina were up 4.6 percent in March from a year earlier with distressed sales…

LRC Properties and Cornerstone Real Estate Advisors have purchased the 101 Independence Center office building in uptown Charlotte for $107.75 million. The Charlotte Business Journal reported earlier this year that LRC and Cornerstone were under contract to buy the 20-story tower, located at the northwest corner of Trade and Tryon streets. The building totals 565,694 square feet and is 84 percent occupied. Bank of America Corp. is the largest tenant, occupying 261,000 square feet in a lease that…

Some more details on what Pollack Shores Real Estate Group is planning at the intersection of Caldwell and Stonewall streets uptown: The Atlanta-based firm is planning to develop a 300-room apartment complex with 10,000 square feet of ground-floor retail space and a 125-room hotel at the intersection, according to city officials. Pollack Shores is under contract to purchase a 3.76-acre city-owned parcel at the southeastern corner of the intersection for $12.2 million. Charlotte City Council voted…

With its development activity picking up, Levine Properties has decided to outsource the management of its parking portfolio in Charlotte's First Ward to Preferred Parking, effective today. Levine had previously managed its 16 surface parking lots in First Ward through its subsidiary, Secure Parking. Daniel Levine, president of Levine Properties, says the company has its hands full with apartments, office buildings, hotels and retail. Levine told me earlier this week that he is planning a dual-branded…

Developer Daniel Levine of Levine Properties plans to build two residential towers and a dual-branded hotel along Brevard Street in uptown Charlotte near First Ward Park, which is under construction. Levine says the hotel and residential tower likely will be across Brevard from the 3.2-acre park, which his firm and Mecklenburg County are building between ImaginOn and UNC Charlotte’s center-city building. Levine spoke with me earlier this week from Washington, D.C., where he was attending a Hilton…

Lincoln Harris expects to start the work early next year to transform the former Charlotte Golf Links property in south Charlotte into Rea Farms. The Charlotte real estate firm won a rezoning for the 194-acre site, a former golf course at Providence and Ardrey Kell roads, last week. The rezoning clears the way for a major mixed-use project with up to 700,000 square feet of office space, 250,000 square feet of retail space, 500 multifamily units, 300 senior-living units, 200 single-family homes,…

Developer Peter Pappas is planning a mixed-use development at the Charlotte Regional Realtor Association’s 5.3-acre property in midtown Charlotte, according to real estate records. The CRRA listed the land for sale last year as a potential redevelopment property. The site is at the intersection of Kenilworth Avenue and Greenwood Cliff, and Pappas is planning a multi-building development at the property, according to records. Pappas, CEO of Pappas Properties and multifamily firm Terwilliger Pappas,…

Home prices in Charlotte were up 5.4 percent in February from a year earlier, according to a prominent monthly index released Tuesday. That continues the market's hot start in 2015, with the annual growth rate exceeding the 4.3 percent increase posted in January, also a strong month for the local area. February's figure also puts the city ahead of national trends, the latest Standard & Poor’s Case-Shiller Home Price Index shows. Charlotte's month-to-month increase in home prices improved as…