Lincoln Harris’ acquisition of The Charlotte Observer’s uptown property has been pushed back, with the deal now scheduled to close on or before May 2, according to real estate records.
The Charlotte real estate firm had previously been scheduled to close on the Observer’s property by the end of October after agreeing in May to purchase the site, which totals more than 9 acres. The property is owned by The McClatchy Co.’s pension fund. The site includes the 361,000-square-foot Observer building,…Closing date for Lincoln Harris purchase of Observer site uptown pushed to May
Lincoln Harris’ acquisition of The Charlotte Observer’s uptown property has been pushed back, with the deal now scheduled to close on or before May 2, according to real estate records.
The Charlotte real estate firm had previously been scheduled to close on the Observer’s property by the end of October after agreeing in May to purchase the site, which totals more than 9 acres. The property is owned by The McClatchy Co.’s pension fund. The site includes the 361,000-square-foot Observer building,…
An Atlanta-based real estate investment firm has acquired The Vyne on Central, a 98-unit apartment complex in Plaza Midwood, for $14.2 million.
Whitaker Capital, which acquires and manages apartment communities throughout the Southeast, closed on the purchase last week. The property is located at the intersection of Central Avenue and Briar Creek Road.
Real estate firm 759 Ventures completed the second phase of the project in 2014, adding 65 units after buying the first 33-unit phase of Vyne, a…
Crescent Communities says it will start construction later this month on Crescent NoDa, a 344-unit apartment community at a planned light-rail stop in the eclectic neighborhood north of uptown Charlotte.
The project will include up to 7,500 square feet of street-level retail and will be located at the 36th Street Lynx Blue Line light-rail stop. Crescent successfully rezoned nearly 7 acres at the intersection of the planned Lynx Blue Line extension and East 36th Street in April, and the company purchased…
Allen Tate Co. had one of its best years in 2015, but CEO Pat Riley says he’s concerned about the lack of housing options for entry-level buyers and hopeful that new-home construction will continue to rebound and alleviate supply constraints.
Across its markets in the Carolinas, Allen Tate closed 21,595 home sales worth $5.16 billion in 2015, up from 19,716 sales worth $4.5 billion in 2014. It’s the first time the company has crossed the $5 billion mark since before the recession, when the company…
At a groundbreaking Wednesday for the Crescent Stonewall Station project, Jim Kwasnowski, a vice president with Crescent Communities, quoted architect and urban planner Daniel Burnham. “Make no small plans,” Kwasnowski said. “They have no magic to stir men’s blood.”
Crescent has big plans for its 5.4-acre site on Stonewall Street and celebrated the start of the mixed-use project with its partner, the Melissaris family, at the ceremony, which included a blessing from Father Theodore Ehmer…
The average vacancy rate for Charlotte apartment units dropped to 4.8% at the end of the fourth quarter, according to real estate research firm Reis Inc., down from 5.4% at the end of 2014, and the market’s effective rent grew by 5.6% to $883.19.
Of the 79 markets that Reis surveys, Charlotte ranked in the top 10 for 12-month effective rent growth and 12-month asking rent growth, with the latter also increasing by 5.6% in 2015. Charlotte also had the sixth-largest 12-month vacancy decrease in…
Crescent Communities has purchased the final piece of land for its Stonewall Station project.
Last week, the company acquired 1.7 acres on East Stonewall Street adjacent to the light-rail line for $13.25 million. Today, the firm is holding a groundbreaking ceremony for its mixed-use Stonewall Station project, which will be anchored by a Whole Foods Market. The Whole Foods will be connected to the light-rail line, with an entry point into the store from the light-rail station.
The 1.7-acre property,…
Life Time Fitness Inc. and the Charlotte-Mecklenburg Board of Education have purchased 24 acres and 10 acres, respectively, at the Rea Farms mixed-use development in south Charlotte for a planned fitness facility and K-8 magnet school.
Life Time, based in Minnesota, purchased a 24-acre site at the northeast corner of the 188-acre property, near the intersection of Providence Road and Allison Woods drive, for $6 million. The company plans to build a facility featuring an indoor/outdoor aquatic center,…
Charlotte real estate firm Lincoln Harris plans to start work this week on the second 10-story office building at its Capitol Towers development in SouthPark.
The north tower at Capitol Towers will mirror the south tower, which was completed in September and totals 240,000 square feet. Johno Harris, president at Lincoln Harris, says the building will take 12 to 13 months to complete and will likely deliver in the first quarter of 2017.
The first Capitol Towers building is 60% leased, and Lincoln…
Despite common belief and many obstacles, millennials could soon become major players for the residential, single family homes market.
Zillow.com (NASDAQ:Z), a real estate research website, conducted a poll about views on homeownership. In all but one category, the 18-to-34 age bracket expressed more favorable views than older generations.
Millennials were much more likely to report that owning a home is necessary to live the good life, provides more personal freedom and is necessary to be a respected…