The Charlotte-based utility said it will take a long-term lease for 500,000 square feet of office space. It expects to move into the building, to be named the Duke Energy Center, in mid- to late- 2010.
Read the story here
Thursday, February 26, 2009
Wednesday, February 25, 2009
Wilmore and Southend Happenings
Since I'm a Wilmore / Soutnend resident I thought it might be nice to have a blog about the area. What's going on, what is coming, neighborhood issues, etc. I'll have things in here about events, dining, and the general experience of living in this great area.
Hmmmm...for starters...if you don't know Wilmore it is located just across South Blvd from Dilworth -- the Southend district bisects the two. It was built in the early 1900's, mostly in the 20's and 30's, as a blue collar neighborhood for the business and industry that was growing along South Boulevard. It was serviced by a trolley that ran from uptown to Wilmore and Dilworth. This trolley has been resurrected in recent years and light-rail has been added (the only system in the city). Like many neighborhoods, it saw a decline a few decades ago and crime and deteriorating homes could be found throughout the neighborhood. Today many of the old residents, and plenty of new ones, have been working on homes, building new ones and the change is evident.
The location is one reason for this. You can walk to uptown -- we walk to all the Panthers games in less than 10 minutes from our front porch, there are lots of dining, nightlife, and shopping options along South Boulevard and East Boulevard, and the housing stock is fantastic.
Prices range from the $170's up to over $500,000.
Hmmmm...for starters...if you don't know Wilmore it is located just across South Blvd from Dilworth -- the Southend district bisects the two. It was built in the early 1900's, mostly in the 20's and 30's, as a blue collar neighborhood for the business and industry that was growing along South Boulevard. It was serviced by a trolley that ran from uptown to Wilmore and Dilworth. This trolley has been resurrected in recent years and light-rail has been added (the only system in the city). Like many neighborhoods, it saw a decline a few decades ago and crime and deteriorating homes could be found throughout the neighborhood. Today many of the old residents, and plenty of new ones, have been working on homes, building new ones and the change is evident.
The location is one reason for this. You can walk to uptown -- we walk to all the Panthers games in less than 10 minutes from our front porch, there are lots of dining, nightlife, and shopping options along South Boulevard and East Boulevard, and the housing stock is fantastic.
Prices range from the $170's up to over $500,000.
Tuesday, February 24, 2009
Bad News/Good News:Charlotte home prices fall 7.2%
Home prices in the Charlotte market fell 7.2 percent in December from a year earlier.
That's obviously the bad news... Good news is Charlotte generally fared better than the other 20 markets tracked by the the Standard & Poor’s/Case-Shiller Home Price Index:
The 7.2 percent price decline was the fifth-smallest among the 20 markets tracked by the Standard & Poor’s/Case-Shiller Home Price Index.
Denver was the healthiest of the 20 cities, with a 4 percent drop in home prices when compared with December 2007.
The overall index of the 20 cities saw an 18.5 percent decline. Phoenix was the weakest market with a decline of 34 percent, followed by Las Vegas (down 33 percent) and San Francisco (down 31.2 percent).
Read the full story here
That's obviously the bad news... Good news is Charlotte generally fared better than the other 20 markets tracked by the the Standard & Poor’s/Case-Shiller Home Price Index:
The 7.2 percent price decline was the fifth-smallest among the 20 markets tracked by the Standard & Poor’s/Case-Shiller Home Price Index.
Denver was the healthiest of the 20 cities, with a 4 percent drop in home prices when compared with December 2007.
The overall index of the 20 cities saw an 18.5 percent decline. Phoenix was the weakest market with a decline of 34 percent, followed by Las Vegas (down 33 percent) and San Francisco (down 31.2 percent).
Read the full story here
Monday, February 23, 2009
CIAA Basketball Tournament - Charlotte NC
Charlotte welcomes the 181,000 fans expected for this college basketball tournament. The Hotels are brimming with reservations and excitement is building for a fun week. We have been waiting for some good news here.
With fans coming from all over the country, the big reunion is on. Many new venues are open for the fans to eat, drink, party, and mingle. Our LINKS line light rail is gearing up for heavy ridership making the trip to the uptown Time Warner Arena. Those in the know will take advantage of this transportation resource.
The games begin on Tuesday and the action should be great. Fast and furious college basketball is what this tournament delivers. Eighteen games over five days finishing Saturday Night with the championship game.
For more information on this tournament or the vast events happening around the CIAA tournament check this link:
http://www.ciaatournament.org/page/city-of-charlotte
With fans coming from all over the country, the big reunion is on. Many new venues are open for the fans to eat, drink, party, and mingle. Our LINKS line light rail is gearing up for heavy ridership making the trip to the uptown Time Warner Arena. Those in the know will take advantage of this transportation resource.
The games begin on Tuesday and the action should be great. Fast and furious college basketball is what this tournament delivers. Eighteen games over five days finishing Saturday Night with the championship game.
For more information on this tournament or the vast events happening around the CIAA tournament check this link:
http://www.ciaatournament.org/page/city-of-charlotte
23rd Annual Elizabeth 8K Road Race
Presented by Presbyterian Orthopaedic Hospital
Saturday, March 28, 2009 at 8:00am
8K Road Race
3K Run/Walk
Liz Kids' Fun Run
Proceeds benefit the beautification of the Historic Elizabeth Neighborhood
Hawthorne Recreation Center
Independence Park
300 Hawthorne Lane
Charlotte, NC 28204
Join us for the historic Elizabeth 8K Road Race, organized by the Elizabeth Community Association. This is the 23rd annual edition, making it the second oldest road race in Charlotte. Featured are a great USATF certified course, event T-shirt, food, beverages, music, and overall and age group awards.
Electronic chip timing by Race Management Systems
Saturday, March 28, 2009 at 8:00am
8K Road Race
3K Run/Walk
Liz Kids' Fun Run
Proceeds benefit the beautification of the Historic Elizabeth Neighborhood
Hawthorne Recreation Center
Independence Park
300 Hawthorne Lane
Charlotte, NC 28204
Join us for the historic Elizabeth 8K Road Race, organized by the Elizabeth Community Association. This is the 23rd annual edition, making it the second oldest road race in Charlotte. Featured are a great USATF certified course, event T-shirt, food, beverages, music, and overall and age group awards.
Electronic chip timing by Race Management Systems
Friday, February 20, 2009
Phase 2 Meeting for East Blvd. Pedscape
The East Boulevard Pedscape Phase 2 meeting will be held on Thursday, Feb. 26 at 6:30 p.m. at Dilworth United Methodist Church. The project team has prepared the recommended alternative and will present it at this third public meeting. Come out and see the plans for East Boulevard. For more information, contact Sharon Buchanan, Project Manager at sbuchanan@ci.charlotte.nc.us or 704.336.2044
Part of Catalyst Condos to be Converted to Apartments
While Charlotte’s housing market hasn’t been hit as hard as other cities, the slump paired with the current economic crisis has caused developers of Catalyst Condominiums to re-evaluate their investment.
The Atlanta developer of uptown Charlotte’s newest residential high-rise is converting about half the building’s 462 units to rental apartments in the wake of the housing downturn.
Only about 60 condos have been sold since sales opened last summer.
Tony Skillbeck, president of Novare Group’s Carolinas division, said the 27-story building should be ready for occupancy within two weeks. Units on floors 2 through 14 will be for lease and the condos above that for sale.
Residences, from 676 to 1,113 square feet, will rent from about $1,200 to about $2,300 a month and sell from the $170,000s to about $375,000. The building will have 228 apartments and 234 condos.
Conor McNally, senior vice president of development at Novare Group, said the decision to convert from all condo to half apartments was made after Novare’s discussions with senior lender Wachovia and other lenders over concerns that the original financing plan wouldn’t work.
The Atlanta developer of uptown Charlotte’s newest residential high-rise is converting about half the building’s 462 units to rental apartments in the wake of the housing downturn.
Only about 60 condos have been sold since sales opened last summer.
Tony Skillbeck, president of Novare Group’s Carolinas division, said the 27-story building should be ready for occupancy within two weeks. Units on floors 2 through 14 will be for lease and the condos above that for sale.
Residences, from 676 to 1,113 square feet, will rent from about $1,200 to about $2,300 a month and sell from the $170,000s to about $375,000. The building will have 228 apartments and 234 condos.
Conor McNally, senior vice president of development at Novare Group, said the decision to convert from all condo to half apartments was made after Novare’s discussions with senior lender Wachovia and other lenders over concerns that the original financing plan wouldn’t work.
What's In The Foreclosure Prevention Plan
The Obama administration yesterday released its long-awaited plan to stem foreclosures. It's organized into three categories:
1.) Help for home owners making their payments but at risk of default and foreclosure. Home owners with a Fannie Mae or Freddie Mac loan would be eligible to refinance as long as their mortgage doesn't exceed 105 percent of the home's current market value. Currently owners need to have at least 20 percent equity. Potential impact: 4-5 million households.
2.) Help for home owners already in default and in need of loan modification. For lenders that voluntarily agree to lower a borrower's payment so that it makes up no more than 38 percent of the borrower's income, the government would share the cost of lowering the mortgage burden to 31 percent of income. Incentives to lenders to participate include a $1,000 payment. Borrowers can receive up to $1,000 as an incentive to stay current on their new mortgage. Still in the works is a proposed provision that would allow bankruptcy judges to require loan modification (known as a cramdown) as part of a household's restructuring. That provision requires legislation by Congress. Estimated potential impact: 3-4 million households.
3.) Doubled resources to Fannie Mae and Freddie Mac. To encourage investors to buy the secondary market companies' mortgage-backed securities, the government explicitly backstops them to up to $400 billion, twice the current amount.The plan does not provide help to investors or to home owners who are in trouble with a second home, nor does it apply to homeowners whose mortgage is part of a private-label mortgage security that is not backed by Fannie Mae or Freddie Mac. "The administration's proposed plan, combined with provisions like the $8,000 first-time home buyer tax credit in the just-enacted American Recovery and Reinvestment Act, will help minimize foreclosures, shrink housing inventory, stabilize home values, and move the country closer to an economic recovery," says NAR President Charles McMillan. Source: REALTOR® Magazine Online
1.) Help for home owners making their payments but at risk of default and foreclosure. Home owners with a Fannie Mae or Freddie Mac loan would be eligible to refinance as long as their mortgage doesn't exceed 105 percent of the home's current market value. Currently owners need to have at least 20 percent equity. Potential impact: 4-5 million households.
2.) Help for home owners already in default and in need of loan modification. For lenders that voluntarily agree to lower a borrower's payment so that it makes up no more than 38 percent of the borrower's income, the government would share the cost of lowering the mortgage burden to 31 percent of income. Incentives to lenders to participate include a $1,000 payment. Borrowers can receive up to $1,000 as an incentive to stay current on their new mortgage. Still in the works is a proposed provision that would allow bankruptcy judges to require loan modification (known as a cramdown) as part of a household's restructuring. That provision requires legislation by Congress. Estimated potential impact: 3-4 million households.
3.) Doubled resources to Fannie Mae and Freddie Mac. To encourage investors to buy the secondary market companies' mortgage-backed securities, the government explicitly backstops them to up to $400 billion, twice the current amount.The plan does not provide help to investors or to home owners who are in trouble with a second home, nor does it apply to homeowners whose mortgage is part of a private-label mortgage security that is not backed by Fannie Mae or Freddie Mac. "The administration's proposed plan, combined with provisions like the $8,000 first-time home buyer tax credit in the just-enacted American Recovery and Reinvestment Act, will help minimize foreclosures, shrink housing inventory, stabilize home values, and move the country closer to an economic recovery," says NAR President Charles McMillan. Source: REALTOR® Magazine Online
MONA Feb. Meeting Tonight
Merry Oaks Neighborhood Association meets this Thursday, Feb. 19, 7-9 p.m. at Merry Oaks School (enter off Draper Avenue) Media Center.
If you want to participate in the neighborhood yard sale on MONA Day (April 18) you can bring your $5 cash participant fee to the meeting for Carol Herrington.
Please consider bringing $10 MONA membership fee for 2009. If you are on a fixed income or have lost your job, your membership is $5. You may also pay later. Cash or check made out to MONA works. Include a sheet of paper with your name, email, phone, address and neighborhood interests.
Partial agenda:
7:00 Introductions of current board and officers Nancy Pierce
7:05 Central Avenue Arts Project Artist Amy Sanders
7:30 Residential-to-office rezoning on Central Avenue, Dr Berglass
7:35 Police report. Community police officers
8:00 Proposal for new City recycling process Owen Sutkowski
8:20 Introduction of new Board members Cate Martin
8:30 MONA Day reminders Cate Martin, others
8:40 Other business
If you have any issues for the “Other Business” section, please email menancypierce@carolina.rr.com.
If you want to participate in the neighborhood yard sale on MONA Day (April 18) you can bring your $5 cash participant fee to the meeting for Carol Herrington.
Please consider bringing $10 MONA membership fee for 2009. If you are on a fixed income or have lost your job, your membership is $5. You may also pay later. Cash or check made out to MONA works. Include a sheet of paper with your name, email, phone, address and neighborhood interests.
Partial agenda:
7:00 Introductions of current board and officers Nancy Pierce
7:05 Central Avenue Arts Project Artist Amy Sanders
7:30 Residential-to-office rezoning on Central Avenue, Dr Berglass
7:35 Police report. Community police officers
8:00 Proposal for new City recycling process Owen Sutkowski
8:20 Introduction of new Board members Cate Martin
8:30 MONA Day reminders Cate Martin, others
8:40 Other business
If you have any issues for the “Other Business” section, please email menancypierce@carolina.rr.com.
Now it's starting to get ugly.....
New York State Attorney General Andrew Cuomo has subpoenaed Bank of America Corp. Chief Executive Kenneth Lewis as part of his investigation into whether BofA withheld information from investors before it acquired Merrill Lynch & Co. Inc. (BAC)
Briarcreek Sewerage project
the Briarcreek Sewerage project is really dragging on. Michael Baker has been shut down for months... :(
Ghazi Project
Ghazi Project (rezoning petition #2007-053), located at the corner of Fairview Road and Wintercrest Lane
Where the project stands:
A revised Ghazi project was approved on 7/2/07. Due to strong opposition from residents, the project's height was reduced from 22 stories to 10 stories.
The 3 acre site will be developed for luxury condominiums scattered in 3 buildings with staggered heights of 10, 6 and 3 stories.
Construction will begin late 2008.
Where the project stands:
A revised Ghazi project was approved on 7/2/07. Due to strong opposition from residents, the project's height was reduced from 22 stories to 10 stories.
The 3 acre site will be developed for luxury condominiums scattered in 3 buildings with staggered heights of 10, 6 and 3 stories.
Construction will begin late 2008.
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