Quote:
Originally Posted by Debauchalapolis
Charlotte has plenty of activity going on right now, but the condo boom has been taking place in many cities for several years now. If anything, Charlotte is trying to catch up.
You're right Charlotte's numbers aren't Miami numbers and they are not anymore impressive than what's going on in Portland, San Diego, Denver, Minneapolis, Atlanta, etc...
Well, I have to disagree with you. There is nothing uptown or downtown about that area. Even a Target/Home Depot and 15 story tower will change that.
Thanks for the explanation regarding the ballpark and your insight about the retail.
Have a great new year's and be safe!!
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Hold on now. Let's compare apples to apples here. Sure there are quite a few cities that have been experiencing a condo boom across the country. But these are typically cities that are in a completely different tier than Charlotte. Look at all the cities that you've mentioned .... Miami, Portland, San Diego, Denver, Minneapolis, Atlanta ... all of them have to be considered to be in a different tier than Charlotte based on size and regional impact. Now look at cities that are comparable in size to the Charlotte metro area ... Indianapolis, Milwaukee, Providence, Memphis, Columbus, Kansas City, Louisville, Jacksonville .... etc. These cities would kill for the type of development occurring in uptown Charlotte right now. There are even a few larger cities that would love to see that sort of development ... Cincinnati, Baltimore, St. Louis, Pittsburgh, Cleveland, Detroit .. etc. Even a top tier city like Dallas (where I lived for 8 years) which is still growing at a phenomenal rate would like to see that sort of development concentrated in its downtown.
What is impressive about the growth in Charlotte right now is that it is driven primarily by the private sector based on demand created by a growing local economy. In Indianapolis (my current home), which has avoided the decline experienced by most cold-weather cities, development in downtown is driven primarily from public projects with private development primarily taking place to capitalize on public projects ... for example, new hotels related to the new publicly funded football stadium and convention center expansion. I think what you are seeing in Charlotte right now is it's ascension into the next tier of cities. You can't compare it to Miami, which may be ascending into that first tier of international cities that includes New York, Chicago and L.A. However, in twenty to thirty years it may be fair to classify it in the same ranks as Denver, Portland or Minneapolis.