A former Walmart near the Lynx Blue Line will soon be converted into creative office space.

Atlanta commercial real estate firm White Oak Real Estate Advisors acquired the big box structure at 801 E. Arrowood Road for $3.8 million in a sale that closed April 20, according to Mecklenburg County real estate records. White Oak, a firm new to the Charlotte market, plans to upfit the former retail store at the intersection of Arrowood and Old Pineville roads into a 110,390-square-foot, high-density office building. (read more)

When I toured Charlotte’s newest high-end apartments last fall, I didn’t see how the amenities could get much nicer: Waterfall hot tubs, massage rooms, dog washes and more marked a level of luxury I certainly didn’t get when I rented my first apartment a whole decade ago.

Turns out, there’s a whole level of apartment amenities even beyond those. Charlotte’s high-end apartments are turning to amenities with a higher level of service, even splashier rooftop pools and decks and exclusive features such as private bars to differentiate themselves.

“The level of amenities in some of these projects is over the top,” said Gary Cline, managing principal of Cline Design Associates. He was speaking at a Bisnow forum on apartment development, held Wednesday at the Duke Mansion. “That’s just normal.” (read more) 

The Wade, high end, five story condominium project is moving a step forward toward breaking ground. On the drawing board for close to two years, developers are telling potential buyers that the condos should be ready to move in by fall 2018.

Beacon Street Development has started site work and staging of this 27-unit building near Cameron Village and Fred Fletcher Park at 620 Wade Ave. (read more)

The former Carmike movie theater site on James Island plans for 132 apartments. Charleston’s Design Review Board listened to concerns from a half dozen residents and then gave plans for James Island Apartments conceptual approval. Representatives of the developer pointed out that the six-acre site on Central Park Road just west of Folly Road is zones for 153 units. (read more)

A number of development projects are planned or underway in Charlotte’s SouthPark, a submarket that’s undergoing renewed real estate activity.

Many of the projects are repositioning dated office buildings and aging apartment properties into denser, more urbanized mixed-use developments. The new investment and redevelopment in SouthPark has even spurred a collective group of landowners, residents and real estate professionals active in the submarket to plan out a cohesive vision and plan for SouthPark’s future.
(read more)

Crescent Ninth Street
2016 Golden Lead Award  |  Large Development Award

2016 Golden Leaf Award Winners

Parkside Town Commons
2015 Real Estate Award | Top Retail Development

Clouds Brewing
2015 Real Estate Award | Top Restaurant Development

Crescent Cameron Village
2015 Real Estate Award | Top Multifamily Development

http://www.bizjournals.com/triangle/blog/real-estate/2015/12/tbj-2016-space-awards-winners.html

Peter Cummings, the Detroit developer who brought Whole Foods to midtown and shepherded the deal for the Fisher Building, told Curbed that he plans to build a 230-unit midrise apartment building in New Center. This summer, rumors about Cummings’ plans to buy the parking lot at 3rd and Grand (pictured above) from Henry Ford Health System were met with a firm “no comment” from Cummings. Now, he says that there’s an agreement to purchase, and that architects have been selected for the project.
“The sale hasn’t happened yet,” Cummings explained, “But I do have a firm agreement with Henry Ford Helath system. I want to build 230 units,” Cummings added. Cummings has already tapped Chapel Hill, NC, Cline Design for the new development which will combine retail with residential units just steps away from the Fisher Building. “They did a great job for me on a similar scale project, housing over parking and retail in Chapel Hill,” Cummings said.

Cummings says there’s a timeline in place and that the sale should be finalized soon. “We would like to launch the project in summer 2016,” Cummings said.Cline Design built 140 West Franklin for Cummings’ former Florida venture, Ram Real Estate. The eight-story, $55 million, mixed-use building in Chapel Hill opened in 2013 after nearly a decade of work.

Third and Grand

Trifecta: Crescent sells third Triangle luxury apartment complex, grosses $208M total
. The developer and owner of the new Crescent Main Street luxury apartment complex in Durham, Crescent Communities of Charlotte, has sold its third new property in the Triangle at another near-record-breaking price.
 (read more)

@DHICInc received tax credits for Greenfield Place in Chapel Hill @chapelhillgov and Pennington Grove in Garner @TownofGarner.

Myers Park Place in Charlotte. Drone view under construction video.

The Cardinal at North Hills has broken ground! Located in the vibrant North Hills Midtown District, this new full continuum senior living community will be steps away from a variety of restaurants, shopping and entertainment options. Go out or stay in – your home at the Cardinal will offer not only spacious, beautifully appointed residences but a warm, inviting community to share with family and friends, discover new passions and create The Art of Living WellSM on your terms.
 (read more)

Melrose Place apartments off Park Road to be replaced with new apartment complex
An apartment complex just off Park Road and Woodlawn Road is set to be demolished and replaced with a new, upscale complex, according to rezoning plans filed with the city.
 (read more)