Confirming persistent rumors, the Charlotte Business Journal reports that the Catalyst building will fully convert its 462 units to apartments. Novare, the Atlanta-based developer of the project, surrendered its management responsibilities to Crosland Investment Services, located elsewhere in Third Ward in the Carillon Building. Crosland will also manage the 20,000sf of retail space located in the building.
While this result did not meet the intent of Novare, it nonetheless will bring hundreds of new residents to the eastern part of Third Ward; we welcome them to the neighborhood! Catalyst residents will share the neighborhood's particular interest in the commencement of construction at Romare Bearden Park.
For a more in-depth look at Third Ward real estate activity in Q3, see this Real Estate Report prepared by board member Robyn Riordan. And if you have thoughts/suggestions on the preservation and enhancement of real estate values in the neighborhood, please contact me.