Category: Uptown

A four-story building at the corners of Selwyn Avenue and Croydon Road that promises high-end luxury in the always-desirable Myers Park neighborhood is finally under construction!

2312 Selwyn will have 8 residences priced from $1,015,000 million to $1.39 million, according to the 2312 Selwyn site. The scheduled completion is first quarter 2017.

The fourth floor residences and penthouse unit of more than 4,000 square feet are already under contract as of May 4.

The building will have secure, gated parking with 2 units designated per residence and guest parking. Additional amenities include a secure lobby with call-up intercom, interior mail and parcel delivery and secured elevator and stair access.

The interior of the residences will have hardwood floors in living areas, floor-to-ceiling windows, 8-foot passage doors, custom cabinetry and stone counters, Thermador appliances and full laundry rooms with sinks.

Ron and Chris Kennerly, a father and son team out of Davidson, are developing the project under 2300 Selwyn LLC. The duo is most recently responsible for Cove Key and Cypress Point, condominium developments on Lake Norman.

The building is walking distance to Myers Park Country Club, Freedom Park and Queens University. Uptown and SouthPark are a short drive away!

The Uptown housing market is booming, but if you feel your budget is a bust and you couldn’t possibly live Uptown then you might want to take a look at Fifth & Poplar in the beautiful Fourth Ward.

Wouldn’t living within walking distance to work, professional sporting events and countless fine restaurants improve your quality of life?

Fifth & Poplar is in a fantastic location just 2 blocks from Trade and Tryon. It is within walking distance of EpiCentre, Bank of America Stadium, Knights Stadium, Time Warner Cable Arena,  Discovery Place and everything in between! Lynx light rail makes the entire Uptown and South End accessible from Fifth & Poplar.

Fifth & Poplar’s center courtyard offers a little green space, but Fourth Ward Park is just across the street, and Romare Bearden Park is just 3 blocks away near Knights Stadium. Additionally, Fourth Ward is very walkable and full of restored Victorian homes and beautiful scenery.

Prior to being the 300 condominium units it is today, Fifth & Poplar was a rental apartment building. The 8-story building, which wraps around the perimeter of the entire block, was converted to condos in 2006.

The 1-acre space in the middle of the block has a pool, green space and putting green for resident use.

Everyday amenities are as simple as walking downstairs where there is Uptown’s only Harris Teeter grocery store, as well as a salon and spa, dry cleaner and nail salon. The building also has building-wide Wifi service and a cyber cafe with brewed Starbucks and 24-hour fitness center. There is also full-time maintenance staff and concierge.

All residences have sizeable balconies from which residents can enjoy views of the city scape. Most residences have been upgraded with newer kitchens and baths since original construction. Hardwood floors, granite counters and stainless steel appliances are standard in most residences.

Studio homes in Fifth & Poplar start in the $100,000, and prices exceed $1 million for penthouse units. Square footages range from 550 square feet to 2,400 square feet.

A total of 31 residences sold in Fifth & Poplar during the last 12 months for an average sales price of $264,941 and more than $273 per square foot. Sales closed at about 97.5% of list price.

There are currently 11 Fifth & Poplar units for sale, 6 of which are under contract as of April 30. Five of the residences for sale are more than 1,000 square feet.

Current market inventory of Fifth & Poplar residences for sale is 4.3 months, which is slightly less than total inventory levels for Charlotte.

For Uptown pet lovers, Fifth & Poplar allows 2 pets per unit. There is a small dog park area in the courtyard and mulched areas around the building for walking pets.

Charlotte-based custom home builder Grandfather Homes is borrowing some tradition from the Dutch with its planned construction of 18 homes in Elizabeth built around a woonerf (pronounced Voan-erf).

Quite literally woonerf means living yard. For the Grandfather Homes project, the hope is to seamlessly combine streets and pedestrian-friendly areas. The ultimate goal being walkable urbanism, something the city has been trending toward in recent years.

The Towers at Mattie Rose, as the enclave of duets and triets is to be called, will be located off Beaumont Road. With land in and around Uptown coming at a premium price, these urban projects are embracing smaller living spaces in closer proximity to one another. The woonerf will give residents space to socialize outside but also allow vehicle access without restricting or separating the two areas.

The woonerf will serve as both a roadway for all modes of transportation and an outdoor gathering space with neither sidewalks, speed humps, stop signs or traffic lights. Unlike a traditional street, there is no demarcation between pedestrian areas and vehicle space. The two blend seamlessly without topography changes of curbing.

Several cities across the United States have adopted the woonerf concept. Seattle’s Bell Street Park is a 4-block area of shared streets that functions as park space and vehicle travel area for residents of one of the city’s most densely populated areas.

Homes will be between 2,200 square feet and 2,800 square feet and have at least 3 bedrooms and 3 bathrooms. Homes will be priced from the $600,000s.

Grandfather Homes has built several custom homes in Charlotte. Their present and past work can be viewed on their site. The company is currently working on the Fountains at Mattie Rose in Dilworth. The group of duets, or a building of 2 residences that are bought and sold separately, is planned for space on the 800 block of Ideal Way. Those will start in the $700,000s.

 

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.

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!

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.