Tuesday, September 1, 2009

Development Dispatch

On Friday, the Charlotte Business Journal reported that developer Tim Crawford's Citiline Resortline company will be closing. Citiline Resortline is responsible for Third Ward developments First Row, the Gallery Lofts, and Skybox/Annex; the development of the former Victoria Apartments site was to be next.
Today the Charlotte Observer (and the Business Journal alike) reports that construction on condominium tower The Vue has halted. While not in Third Ward, the incomplete structure is in our view (pardon the pun) as a significant presence on Uptown's skyline; the delay will hopefully be temporary.
Meanwhile, CEOs for Cities has released a report (I'm working through its 30 pages now) indicating that homes in walkable neighborhoods - which would certainly include all of Uptown Charlotte - command higher prices than those in less-walkable neighborhoods.
What does this mean for Third Ward (and the rest of Uptown)? Will our local conditions override the trend toward walkability? Comments welcome - enjoy the reading.