Multi-Family Homes In South Charlotte Show Most Promise, Consultant Says
Some Charlotte neighborhoods are preparing for redevelopment in the next several years after the city’s 2040 Comprehensive Plan approved duplexes and triplexes in areas where there are now single-family homes. But which neighborhoods are likely to be redeveloped? WFAE’s “Morning Edition” guest host Nick de la Canal talked with The Charlotte Ledger Business Journal’s Tony Mecia about what a study commissioned by Charlotte City Council found in the latest BizWorthy.
Listen to the full conversation by clicking he audio above.
This week, a City Council committee got a report from a consultant that looked at where multi-family homes might be built.
“And what it found was that it seems to skew mostly towards south Charlotte in areas where there's already a bunch of redevelopment, teardowns of houses, newer construction going up, that sort of thing,” Mecia said. “And I think the idea was that this might help allay some of the concerns about the redevelopment of vulnerable neighborhoods.”
Mecia says the consultant tried to simulate what a developer would look at most when assessing where to build – things like the price of land, how bit the lots are and the sales price of homes in the communities.
“What they really found is that in a lot of these vulnerable neighborhoods, in different parts of the city, that the housing sales prices wouldn't really be high enough to justify the investment of a developer to come in,” Mecia said.
Among other topics addressed in BizWorthy:
The Charlotte Ledger’s Doug Smith spoke with Tony Pressley, the man who has long been regarded as the visionary developer behind South End.
“Pressley was one of the first people really about 30 years ago to kind of have a vision for the area,” Mecia said. “And he was one of the first ones to come in and say, ‘Well, there's a lot of potential here.’”
Pressley, 73, no longer lives in the area but recently visited to see what South End looks like now.
“He said when he came back and looked at it recently, he was just amazed, blown away by how much density there was, how many high rises there were going up,” Mecia said. “So he was really surprised that this vision that he had has really been surpassed.”
And Mecia went on the hunt for some liquor, which is in short supply in the Charlotte area. Specifically, spirits like Tito’s vodka, Jack Daniels and Absolut vodka.
“The North Carolina ABC Commission says there are industry-wide shortages and also they've been having some trouble with a warehousing and distribution vendor,” Mecia said.
But Mecia found some Tito’s in Concord – but the ABC store was limiting it to one bottle per customer – and at a liquor store in Indian Land, South Carolina, called Southern Spirits.
“They’re saying they’re fully stocked, open for business,” Mecia said.
Hear the full conversation by clicking the audio above.