The Angle – Page 32 – New Angle Realty

April 14, 2016

MPV inks new tenants for Indian Land’s RedStone

Stone-Theatres-Rendering — A rendering of the facade of the 14-screen theater planned for the new RedStone development in Indian Land.

Five new tenants, all of which have a presence in the Charlotte market, have signed deals to lease space in the 40-acre retail development RedStone, according to a press release by Charlotte-based MPV Properties.

The commercial real estate company announced Wednesday the new additions to its more than 300,000-square-foot retail project, which already under construction near the intersection of Johnston Road (Highway 521) and Fort Mill Highway (Highway 160).

In addition to the theater, these five tenants will be ready to open their doors with the completion of Phase I construction, which is expected to be complete by Summer 2017.

Three restaurants have signed on. Portofino’s Ristorante Italiano e Pizzeria will operate a 3,200-square-foot space. Red Rocks Cafe signed an agreement for a 5,654-square-foot space; and Moe’s Southwest Grill will take over 2,374 square feet.

RedStone will be the first South Carolina location for both Portofino’s and Red Rocks Cafe. Red Rocks has a location in Huntersville’s Birkdale Village and Strawberry Hill in South Charlotte. Portofino’s has 3 Charlotte locations – Park Selwyn Terrace, the Arboretum and on Eastway Drive.

The other two tenants are Lee Spa Nails. The company, which has a location in the University area, leased 2,219 square feet. Sharonview Federal Credit Union will occupy a 2,597-square-foot office and has 3 Charlotte locations.

MPV’s leasing agent Keely Hines said future tenants will also likely include a salon and day spa as well as coffee, sandwich and yogurt shops.

Phase I encompasses 55,000 square feet of retail space in addition to the more than 55,000-square-foot movie theater, which has 14 screens.

At the time of groundbreaking in February, MPV said it expected to be able to name tenants for 30,000 square feet of space by May 1.

April 11, 2016

Spotlight on Sardis Plantation in Matthews

The Matthews neighborhood Sardis Plantation is located just off Highway 51 near Sardis Road.

sardisplanthouse — This is a beautiful brick ranch in Sardis Plantation that sold in 2015.

Sardis Plantation is in a great location convenient to downtown Matthews as well as Independence Boulevard, Providence Road and the Arboretum shopping center. Ballantyne Village and SouthPark Mall are equidistance from Sardis Plantation, both being approximately 8 miles away.

Neighborhood amenities include wooded walking trails, tennis courts and a playground that is in the neighborhood park.

For avid golfers, Sardis Plantation is less than 15 minutes from several fantastic golf courses including Cedarwood Country Club, Ballantyne, Quail Hollow, Carmel Country Club and Raintree as well as the TPC at Piper Glen. The fitness minded can drive 3.5 miles to the Siskey YMCA or to any of the fantastic YMCA locations around Charlotte.

An Uptown commute is about 25 minutes without traffic via either Sardis or Monroe roads and Independence Boulevard.

Homes in Sardis Plantation were built in the late 1980s to the late 1990s. The neighborhood comprises single-family homes of about 1,700 square feet to more than 3,000 square feet. There are ranches as well as 2-story homes available, some with walkout basements. Homes are situated on lots of about one-quarter to one-third of an acre.

Prices for homes in Sardis Plantation average in the $200,000s to $300,000s.

Fourteen homes sold in Sardis Plantation during the last 12 months for an average sales price of $283,616 and $125 per square foot. Those homes averaged sales prices of nearly 99% of list price.

Currently, there are 4 homes on the market in Sardis Plantation. Two of the homes are under contract as of April 10. Given sales averaging 1.2 homes per month, current inventory is nearly 3.5 months in Sardis Plantation.

The highest and lowest sale prices during the last 12 months were $354,000 and $246,000, respectively.

Sardis Plantation is zoned for Elizabeth Lane Elementary, which is adjacent to the neighborhood; South Charlotte Middle School; and Providence High School, which is 1 mile west on Highway 51.

April 7, 2016April 7, 2016

Center City living in Jefferson Square

Uptown Charlotte has come a long way, and there are more choices than ever before when it comes to living amid the hustle and bustle of Center City!

Mid-rise Jefferson Square on the corner of 7th and Church streets is all about location and upscale, Uptown living.

The two buildings that make up Jefferson Square are located in the historic Fourth Ward just a block away from North Tryon Street and Fourth Ward Park.

jeffsquare — Large windows and high ceilings in this Jefferson Square residence.

A few blocks or less of walking will get you to some of Uptown’s finest dining, theater, ballet and museums. Everyday necessities are just a block away at Harris Teeter at Fifth & Poplar.

Stroll through the neighborhood and take in the sights and sounds of the city or admire the gorgeous restored Victorians, including McNinch House, a very special Queen City restaurant.

Walking to any of the 3 athletic arenas Uptown is less than 20 minutes. For the kids, Discovery Place is practically next door!

Completed in 2002, six-story Jefferson Square offers 1-, 2- and 3-bedroom condominiums that range in size from 1,200 square feet to 2,500 square feet. Prices range from $300,000s to $500,000s.

The many features include private balconies, hardwoods floors, open floor plans and fireplaces. There is also secured, underground parking with 2 spaces per residence, a separate storage space, fitness center and a open-air courtyard.

The averages sales price for the 7 Jefferson Square condominiums that sold during the last 12 months is $361,043 and $282 per square foot.

At 1.2 residences sold every 2 months, current inventory is approximately 3.4 months. Charlotte and Mecklenburg County each has 4.6 months.

Considering units in nearby Skye are averaging $350+ per square foot, Jefferson Square is a more affordable option if you want a lower cost of living without sacrificing location.

Currently, there are 2 Jefferson Square condominiums listed for sale. Both are 2 bedroom, 2 bathroom residences of 1,600 square feet. One is listed at $525,000 and has several upgraded, custom touches. The other residence is listed at $485,000. Neither is under contract as of April 6.

The highest price of a condo sold in the last year was $435,000 and lowest was $210,000.

There are newer and older residential buildings Uptown, and there is not a right or wrong address. Jefferson Square has everything you need to make a great home Uptown!

April 4, 2016April 18, 2016

Spotlight: Mint Hill’s Ellington Farm

Quiet Ellington Farm in the heart of Mint Hill is tucked away between Pine Lake Country Club and the Brighton Park neighborhood and shopping center off Matthews-Mint Hill Road.

Oversized lots and mature trees add to the beauty of the neighborhood full of stately brick homes and cul de sac streets.

Ellington Farm is close to shopping and dining in Mint Hill, as well as just 30 minutes to Uptown and less than 15 minutes to Matthews. I-485 access is convenient at Lawyers Road, just 4 miles from Ellington Farm. Additionally, Independence Boulevard is only about 10 minutes southwest of Ellington Farm.

It is easy to feel far removed from the hustle and bustle of Charlotte when you are in Mint Hill, but really nothing is too far away with convenient access to major thoroughfares.

Ellington Farm was built in the late 1990 to early 2000s and includes mostly larger, brick or partial brick homes of 3,000 square feet and up. Lot sizes range from 0.4 of an acre to just less than an acre.

Ten homes sold in Ellington Farm during the last 12 months for an average of 0.8 per month.

The average sales price of the homes sold is $422,833 and $117 per square foot. Homes sales in Ellington Farm averaged 97% of list price during the last year.

There are currently 5 homes listed for sale in Ellington Farm. Only 1 is under contract as of April 3.

The neighborhood’s current inventory is 6.7 months, which is more than double that of nearby Farmwood. Farmwood is a much larger neighborhood that sells at a lower price point. The months of inventory for Mint Hill is 5.6 months, so Ellington Farm is about a month higher than average. This is relatively common with neighborhoods in a higher price point.

The highest price of a home sold in Ellington Farm during the last 12 months was $517,500. The lowest price was $300,000.

The neighborhood is zoned for Bain Elementary School, Mint Hill Middle School and Independence High School, all of which are 10 minutes or fewer away.

April 2, 2016

Privacy & luxury in Fort Mill’s Trinity Ridge

Trinity Ridge is a smaller Fort Mill community of large, custom homes on 1+ acre heavily wooded lots.

Secluded and yet close to shopping, dining and recreational amenities, Trinity Ridge is located off Holbrook Road south of Fort Mill Highway (SC 160).

Johnston Road is about 10 minutes away, and it is another 10 minutes into the heart of Ballantyne. Downtown Fort Mill is also about 10 minutes from home if you live in Trinity Ridge.

I-77 access is convenient west of Fort Mill or via I-485 from Johnston Road. Depending on traffic, a trip into Uptown is about 40 minutes. If commuting, expect upwards of an hour in travel time.

Nearby Anne Springs Close Greenway has more than 2,100 acres of nature preserve for exploration, hiking, biking, camping and picnics.

Homes in Trinity Ridge do not disappoint if you are looking for well-appointed attention to details. Most are upwards of 4,000 square feet and include gourmet kitchens, stone fireplaces, outdoor living spaces and 3-car garages. Interior millwork and moldings include crown moulding, trey and coffered ceilings. Most exteriors are all brick or a combination of brick and stone.

The community, begun in 2006, has more than 60 homes.

There are currently 3 homes for sale in Trinity Ridge. Only 1 is under contract as of April 1.

Turnover in the neighborhood is low, with an average of 1 home selling every 2 months during the last 12 months. That puts current inventory at approximately 6 months, which is also the average for Fort Mill as a whole.

The 6 homes that sold in the last year sold for an average of $734,701 and $157.81 per square foot. Those homes sold for an average of near 98% of list price.

Trinity Ridge is zoned for the York County’s Dobys Bridge Elementary, Fort Mill Middle School and Nation Ford High School.

March 31, 2016March 31, 2016

At home in desirable Olde Providence

The highly desirable South Charlotte neighborhood of Olde Providence is a fantastic mature community in one of the best locations in town.

Located off Rea Road between Providence and Colony roads, Olde Providence started being built in the late 1950s. Most of its 500 homes were built in the 1960s and 1970s.

The community is in the heart of South Charlotte and just 3 miles from SouthPark and 9 miles from Uptown. Colony Place, just south of the neighborhood, has everyday shopping conveniences as well as great dining choices and coffee shops. The Arboretum and Ballantyne shopping centers are also not far away for even more shopping and dining choices.

Windyrush Country Club is located within Olde Providence and has a club house, tennis courts and Olympic-sized swimming pool as well as a pool for smaller children. The Olde Providence Racquet Club is just north of the neighborhood and offers all levels of tennis as well as swimming and an active social calendar for members.

Olde Providence homes are set amid lovely, mature trees on larger, well-maintained lots.

The homes range from ranches to two stories to split-levels and come in a wide variety of sizes and floor plans. Most of the homes have undergone some renovation, if not complete renovations, since originally built. However, there are still some great deals for homes needing more TLC!

Home sizes range anywhere from 1,300 square feet to 3,800 square feet.

Currently, there are 12 Olde Providence homes listed for sale. Nine of the homes listed are under contract as of March 30.

Homes sell well in Olde Providence. Thirty-five homes sold in the last 12 months. That is about 2.9 homes per month, which puts the current inventory of homes on the market at about 4 months. That is on par with the inventory levels for Charlotte and Mecklenburg County, which each average about 4 months inventory.

It is not uncommon for Olde Providence homes to sell at or above list price. The average for all sales was 98% of list price. Two of the homes that sold last year sold for 104% and 109% of list price with many at 100% of list price.

The average sales price during the last 12 months was $303,479 and $141.70 per square foot.

The neighborhood is zoned for Olde Providence Elementary School, which is within walking distance for most of the neighborhood; Carmel Middle School; and top-ranked Myers Park High School.

March 28, 2016

Rural living in Belair at Carolina Lakes

Belair at Carolina Lakes is a Pulte home community set amid pastures in rural Indian Land.

Built in 2007, Belair is located off Johnston Road (521) on Jim Wilson Road just across from Carolina Lakes Golf Club.

The community is just 20 minutes to Ballantyne center and 12 miles to I-485 at Johnston Road. Everyday shopping is convenient at 521 where there is a Harris Teeter, Starbucks, Walgreens, a bank and a few restaurants.

Stonecrest, Blakeney and Ballantyne Village are all only about 20 minutes away. It is a 30-minute drive to SouthPark and 45 minutes to Uptown.

If you are an equestrian or aspire to be one, Larkspur Ranch, Redbarn Riding and Fantasia Farms, among others, are minutes south on 521 for riding lessons or boarding your horse.

Belair has a swimming pool, clubhouse and playground for resident use.

The neighborhood is made up of 4 sub-neighborhoods – The Meadows, The Glen, The Reserve and The Court. The neighborhoods vary in home size from 2-bedroom homes to 4- and 5-bedroom homes. There is a size and price for every family. In total, there are 355 homes in the Belair.

The homes in Belair range from 1,800 square feet to 3,300 square feet and are at a great price point of $200,000 to $350,000.

During the last 12 months, an average of 4.1 homes sold each month in Belair. A total of 49 homes sold in the last 12 months at an average of 98.9% of list price.

The average sales price for a Belair home is $262,498 and just over $105 per square foot.

Eight homes are on the market in Belair at Carolina Lakes. As of March 27, 5 of the homes are under contract. Given year sales data, there is currently 2 months inventory on the market in Belair.

The family-friendly neighborhood is zoned for Indian Land Elementary School, Indian Land Middle School and Indian Land High School.

With the continued growth of South Charlotte and Ballantyne, Indian Land does not seem as far away as it might have 15 years ago. If you want a rural environment that is not too far removed from conveniences then take a look at Belair in Indian Land!

March 26, 2016March 26, 2016

Is Uptown high-rise condo market toppling?

The cancellation of 1Brevard last week signaled what might be the demise of high-rise condominiums in the Uptown area.

Pre-recession, more than 2,600 permits were issued for condominium space in Uptown. In 2015, that number has plummeted to just 12, according to a Charlotte Observer report.

The reason? Cost of land dictates a high-rise structure and high-end prices in order to make money off the project. It is hard for developers to meet the demand for more affordable housing when the land comes at a premium price.

1Brevard needed pre-sales to start construction. That is a tough sell when units are priced at more than $500 per square foot and penthouses topped out at $7 million. Town homes on the outskirts of Uptown in SouthEnd offer more square footage for half the price per square foot.

Even the planned luxury high-rise The Vue turned apartments after a foreclosure and new ownership.

In areas surrounding Uptown, developers are finding people are buying town homes faster than they can build them. For example, SouthPoint on Youngblood in SouthEnd has just entered its second phase of construction.

Pre-recession, condominiums sold like hot cakes in pre-build phases. Owner investors bought at pre-construction prices and knew they could turn a profit by the time the project was completed a year or two later. That is not the case any longer.

David Furman, the developer behind pre-recession condominiums Courtside and the Trademark building, told the Observer he thinks there is a market for Uptown condos, but developers have not presented the right kind of project.

A high-rise condo with 200 units is not a job he wants to take on, he told The Observer.

However, Furman is in the market to find smaller-scale projects in Center City. He believes a building of between 40-60 units is an easier sell and would not require pre-sale commitments in order to get started.

In the meantime, apartments and for-sale projects around Uptown’s perimeter are booming, and Queen City inventory remains low, which is good news for sellers.

There is a market for Center City living, but for now it is back to the drawing board to find a solution that meets everyone’s needs.

March 22, 2016March 22, 2016

Council OKs SouthPark “ski slope” church plan

Sharon_United_Church — Sharon United Methodist Church’s “ski slope” design is getting a makeover!

Plans to demolish and rebuild SouthParks “ski slope” church met City Council approval Monday night.

Childress Klein will develop a mixed-use community of apartments, hotel space, offices and restaurants on about 9 acres of property, including land currently occupied by Sharon United Methodist Church.

In addition to the mixed-use development, Childress Klein plans to rebuild a 750-seat Sharon United Methodist Church.

Last week, the Urban Land Insitute (ULI), the planning group hired by the county to assess the sub-market’s livability and economic development potential, released preliminary findings regarding how best to ensure SouthPark’s continued growth.

The ULI concluded the area, although a vital part of the city’s economy and personality, long has been neglected in terms of planning.

According to ULI, the SouthPark area needs more green space and to be more walkable in order to thrive. Childress Klein’s planned development would provide both those things as well as internal streets throughout the development at Morrison Boulevard and Sharon Road to disseminate traffic in the already traffic-choked area.

Regarding the future of SouthPark in its entirety:

Last week, a ULI-assembled panel of experts began its 5-day exploration of SouthPark touring the area, and gathering information from members of the local community in order to draft a report on how best to transform SouthPark into a less automobile-dependent hub.

Preliminary recommendations include giving SouthPark a unified “voice” by implementing a partnership between area businesses, residents and property owners; building a promenade of parks and green space around SouthPark Mall making it easier and safer for people to walk about the area; make the area more bike friendly; and lastly create a mall-area transit service that could move people around the area to reduce individual automobiles.

The ULI will file its final report within 4 months.

March 21, 2016March 21, 2016

Brighton Park: Mint Hill’s walkable community

While some of the draw of a town like Mint Hill is the chance to own more land and live in a less-dense community, for people who like the idea of a front porch neighborhood and small, manageable yards then Brighton Park is perfect!

The walkable neighborhood of single-family homes and attached town homes was built by Landis Reed Homes beginning in 2006. It is located off Matthews-Mint Hill Road (Highway 51).

The homes and town homes are built around 5 small parks and a community shopping center, Mint Hill Commons. Imagine being able to walk to everything you need!

Pine Lake Country Club is just a few minutes west of the neighborhood. Access to I-485 is just 2 miles east of Brighton Park, and Independence Boulevard is a quick 5 minutes west toward Matthews.

Brighton Park was started in 2006 and consists of Craftsman and traditional homes ranging in size from mid-1,000s to nearly 3,000 square feet on compact lots of about two-tenths of an acre or smaller.

The average sales price of a single-family home for the last 12 months is $233,268 and just over $102 per square foot.

There are currently 4 single-family homes listed for sale in Brighton Park as of March 20. Three of the homes are under contract. Given sales data for the last 12 months, that is about 4 months inventory for the neighborhood. Mint Hill inventory averages 5.2 months.

The small enclave of town homes borders the nearby shopping center. Currently, there are 3 town homes listed for sale, all of which are under contract. The town homes range in size from 1,800 to 2,300 square feet. There is not much sales data for town homes sales in Brighton Park during the last year.

The neighborhood is zoned for Bain Elementary School, which is just a mile down the road; Mint Hill Middle School; and Independence High School.

Though primarily a residential community, Mint Hill has a thriving business district with more than 250 businesses and professional services. This quaint Charlotte suburb has a lot to offer its residents, and Brighton Park is a great place to call home!