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The Park Condos, Charlotte NC, sells at auction, Charlotte, NC Condos, For Sale, Condo Listings


The Park Condos, Charlotte NC, sells at auction,  Charlotte, NC Condos, For Sale, Condo Listings

The Park Rendering

The Park finally sells at auction! Great news for the city scape, it was apparently 70%+/- sold before the banks pulled the plug on the project with the original developer for a loan default.

I have been up there (yes walked it, no elevators yet) for  a couple potential buyers of distressed buildings.  It could be be very nice if completed. Among the positives are the big balconies and roof top park and pool.  The new owner has the plans, not sure at this time what changes might be in store if any. Any intested parties out there give us a call, maybe a good time to inquire (read:negotiate).   Nick@lakeandtown.com or 704 500 2155.

OR

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Heres the story form the Charlotte Biz Journal:

A Naples, Fla.-based developer has acquired The Park condo tower for an undisclosed amount in an all-cash deal.

Small Brothers LLC says one of its subsidiaries has bought the unfinished uptown tower from financial group BB Syndication.

“We are very excited to complete the project as quickly as possible,” says Mark Small, a partner at Small Brothers. “We feel the location of the project is a critical component to the continued success of the city because of its strategic location to the NASCAR Hall of Fame and will enhance the downtown redevelopment.”

Construction work has been frozen at the site on the corner of South Caldwell and Third streets since January 2008. The Park is still missing its exterior skin and has been exposed to weather and vandals.

Longtime local engineer Pete Verna lost the property after his development company 222 South Caldwell Street Limited Partnership defaulted on $28.5 million owed on a $30.69 million construction loan.

Verna’s construction lender BB Syndication, a subsidiary of Bankers’ Bank in Wisconsin, bought the building for $14.2 million after launching foreclosure proceedings last year. Poyner Spruill, the law firm representing the bank, had hosted a July 22 private auction for the project.

Small says the company has Verna’s drawings and currently plans to complete the tower as a for-sale condominium.

Small Brothers says it will use the Charlotte branch of Cleveland Construction Inc. in Ohio – a sister company – to complete the 21-story, 106-unit tower. It pegs the project at 70 percent complete.

“For us, we look at it as any other type of construction project,” Small says. “We have the tools in the toolbox.”

Cleveland Construction was founded in 1980 by the late Richard G. Small and his sons Mark, Tim, Jon, and James.

Small Brothers is owned by the four brothers and shareholder Bud Balsum. The company owns more than 1 million square feet of residential and commercial property, Small says.

 

Lake & Town Site

 

 

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Huntersville Business Relocation - Rated Number 2 NATIONWIDE in Forbes Reloville Piece

 

Huntersville Business Relocation - Rated Number 2 NATIONWIDE in Forbes Reloville Piece

 

CLICK HERE FOR COMMERCIAL PROPERTY INFORMATION OR TO SPEAK WITH AN AGENT FOR , OFFICE, RETAIL, ALL COMMERCIAL SECTORS.

CCA

 

 

 

Huntersville NC voted number 2 overall as a place to relocate your biz. Nice to see.  As a local could not agree more -  big growth expected, low taxes, good weather, very affordable NEW housing.

If you are looking to relocate or expand in NC, Huntersville ( The town directly north of Charlotte) is an excellent choice.

 

 Check out Forbes piece:

 America's 25 Best Places To Move

Peter T. Kilborn, 07.07.09, 08:00 PM EDT

 

 

Professionals looking to get ahead are relocating to these burgeoning areas.

 In the early 1980s, Mark Remson, then a recent graduate of Humboldt State College, couldn't find work in his major of forestry management. Newly married, Remson and his wife Sandi turned to Silicon Valley, then brimming with jobs. He landed one with Advanced Micro Devices ( AMD - news - people ), a semiconductor company that was developing a production technology called computer-aided manufacturing, or CAM. He learned semiconductor assembly and fabrication and to write and manage the software.

"And that," Remson says, "is what I've been doing since."

For nearly 30 years, Remson has been running CAM systems for semiconductor plants across the globe. From Sunnyvale, he and Sandi moved to St. Louis, where daughter Laura was born; to San Antonio, where they had Brian; to Phoenix, where Kerry was born; to Austin, Texas; to Aizu-Wakamatsu, Japan. Then it was back to Austin before taking off for Singapore, New Delhi, Frisco, Texas, and, in August 2007, to Geneva, Switzerland, where Mark is a senior director at STMicroelectronics ( STM - news - people ), one of the world's biggest semiconductor companies. In June, the company bailed out of its 1,000-employee plant in Carrollton, Texas, where Mark had his office, and asked him to start packing for another stint in Singapore.

The children call themselves "third-culture kids," meaning they're from everywhere and nowhere. And they,

like their parents, are not alone.

 

Click for Commerciail Info and Lisitngs:

CCA

In Depth: America's 25 Best Places To Move

Now in their early 50s, the Remsons are corporate serial movers--"Relos," they call themselves. Relos are relocated every few years for jobs with IBM ( IBM - news - people ), General Electric ( GE - news - people ), ITT ( ITT - news - people ) and Hewlett-Packard ( HPQ - news - people ), Advanced Micro Devices ( AMD - news - people ), Intel ( INTC - news - people ), Microsoft ( MSFT - news - people ), Cisco ( CSCO - news - people ), Procter & Gamble ( PG - news - people ), Coca-Cola ( KO - news - people ), American Express ( AXP - news - people ), UPS ( UPS - news - people ), Marriott International ( MAR - news - people ) and Hilton Hotels ( HLT - news - people ), Johnson & Johnson ( JNJ - news - people ), Pfizer ( PFE - news - people ), Siemens ( SI - news - people ), Royal Dutch Shell ( RDSA - news - people ), Sony ( SNE - news - people ) and Toyota ( TM - news - people ).

At most of those companies, periodic relocation has become a well-worn track to the executive suite. Twelve of Coca-Cola's top 19 officers and 27 of Caterpillar's ( CAT - news - people ) 31 have been moved three or more times. W. Frederick Henderson, CEO of General Motors ( GMGMQ.PK - news - people ), has moved nine. His predecessor, Rick Wagoner moved eight. To get ahead at GE, UPS, ExxonMobil ( XOM - news - people ) and P&G, executive relocation is all but mandatory.

Between moves, Relos roost in "Relovilles" that cater largely to them--young, mid- and upscale suburbs near their companies' plants and office parks outside Dallas, Houston, Atlanta, Denver, Raleigh, Charlotte, Chicago, Washington, Indianapolis or Minneapolis. Today, Alpharetta, Ga., Huntersville, N.C., Apex, N.C., Parker, Col., and Castle Rock, Col. are among the country's top "relovilles."

 

Click For Residential Listing and Info:

Lake

 

 

Henderson Park, Huntersville, NC Real Estate- Market Report

Henderson Park Subdivision

If you are looking for an affordale home for sale in Huntersville, NC you may want to check out Henderson Park. It is located on Henderson Rd just off exit 23. Uptown Charlotte is only 20 minutes away and the northern school district is one of the best in Charlotte. It offers walking trails, pool and recreational area. If you want to purchase a home under $200k this may just fit what you are looking for. Let Lake And Town Realty handle all of your buying and selling needs. Visit us at http://www.lakeandtown.com

Huntersville nc real estate

 

Property Type:   Single Family       Status:   Active
Subject
Property
                 
# MLS# Type Area Address Subdivision BR Bths Total HLA List Price DOM
824308  2 Story  7817 Leisure LN   Henderson Park  2/1  1700 - 2100  $171,500  127 
840833  2 Story  7527 Henderson Park RD   Henderson Park  2/1  1500 - 1900  $173,900  50 
835981  2 Story  8020 Leisure LN   Henderson Park  2/1  1500 - 1900  $174,900  69 
851284  2 Story  7729 Autumnview CT   Henderson Park  2/1  1700 - 2100  $175,000 
828075  2 Story  7749 Autumnview CT   Henderson Park  2/1  1800 - 2200  $179,000  100 
830980  2 Story  7516 Henderson Park DR   Henderson Park  2/1  1600 - 1900  $179,900  89 
835430  2 Story  7608 Henderson Park RD   Henderson Park  2/1  1600 - 2000  $179,900  70 
842266  2 Story  8015 Leisure LN   Henderson Park  2/1  2000 - 2400  $185,900  45 
843087  2 Story  7529 Lullwater CV   Henderson Park  2/1  1800 - 2200  $189,000  38 
10  850046  2 Story  7719 Leisure LN   Henderson Park  2/1  1500 - 1900  $189,900  10 
11  837486  2 Story  7704 Leisure LN   Henderson Park  2/1  2000 - 2500  $189,900  63 
12  814570  2 Story  7826 Leisure LN   Henderson Park  2/1  2000 - 2500  $210,000  176 
Average 4   1700 - 2100 $183,233 70
Number of Properties: 12

Property Type:   Single Family       Status:   Conditional
Subject
Property
                 
# MLS# Type Area Address Subdivision BR Bths Total HLA List Price DOM
837772  2 Story  7725 Autumnview CT   Henderson Park  2/1  1800 - 2100  $169,900  65 
Average 3   1800 - 2100 $169,900 65
Number of Properties: 1

Property Type:   Single Family       Status:   Pending
Subject
Property
                 
# MLS# Type Area Address Subdivision BR Bths Total HLA List Price DOM
821188  2 Story  7754 Autumnview CT   Henderson Park  2/1  1600 - 1900  $173,000  116 
Average 4   1600 - 1900 $173,000 116
Number of Properties: 1

Property Type:   Single Family       Status:   Sold
Subject
Property
                       
# MLS# Type Area Address Subdivision BR Bths Total HLA List Price Sale Price %SP/LP Sold Date DOM
813975  2 Story  7903 Leisure LN   Henderson Park  2/1  1,686  $129,900  $124,138  96  1/27/2009  46 
769713  Ranch  7505 Henderson Park DR   Henderson Park  2/0  1,430  $159,900  $159,900  100  6/23/2008  53 
785002  2 Story  7427 Henderson Park RD   Henderson Park  2/1  1,425  $159,900  $156,500  98  8/26/2008  25 
785179  2 Story  7804 Leisure LN   Henderson Park  2/1  1,440  $165,000  $154,500  94  8/25/2008  35 
792901  2 Story  7608 Silverton WAY   Henderson Park  2/1  1,765  $178,900  $175,000  98  3/30/2009  205 
755262  2 Story  7602 Berrywood CIR   Henderson Park  2/1  1,776  $179,900  $175,000  97  5/22/2008  29 
783400  2 Story  7402 Henderson Park DR   Henderson Park  2/1  1,975  $189,000  $185,000  98  9/26/2008  72 
Average 3   1,642 $166,071 $161,434 97   66
Number of Properties: 7

Langtree at the Lake Update - April 2009

 

Massive development in southern Mooresville

The construction of Langtree at the Lake, across the causeway on I-77 just north of Davidson, may get under wayas soon as this fall with funding provided by special assessment improvement district bonds, also known as SAID bonds. At a meeting last month, the Mooresville Town Board of Commissioners took the next step toward enabling Langtree principal developer Land Acquisition & Investment to begin installing water, sewer and roads by unanimously approving a resolution to proceed with the necessary steps to authorize as much as $40 million in SAID bonds for the mega-development. Langtree would be the first development in North Carolina to secureSAID bonds since the state legislature approved the funding mechanism in August of last year.

 The $880 million development will consist of 300,000 square feet of corporate and professional offi ce space,650 luxury condos, a 150-room boutique hotel, a 300-room hotel and convention center, a 40-acre preserve and a number of retail shops and community amenities. Approved by the Mooresville Town Board in December 2006, Langtree at the Lake will occupy 125 acres at the emerging Exit 32, which is currently under construction, including several acres fronting Lake Norman.

Other municipalities in Mecklenburg and Iredell counties stand to reap the benefits of such large-scale job creation, too. Beyond that, however, Langtree is also anticipated to spur ripple development across north Mecklenburg and attract new businesses to the area. The water and sewer lines that Langtree will install using the SAID bonds will have the capacity serve adjacent properties that have no such utility services. Smith said that the sewer line will open up the southeast quadrant of Exit 32 to new development, extending around Lake Davidson into the Town of Davidson,that has heretofore been undeveloped because of the absence of utilities. Davidson town staff members are anticipating a direct impact from Langtree and are planning for future growth in the town that will ride the development's long coattails.

   Charlotte MLS, Huntersville, Lake Norman, Birkdale, Cornleius, Mooresville homes for sale

Lake Norman Pool and Pier,, Mooresville, Cornelius, Huntersville

 

 

 

 

A History Lesson Real Estate Cycles

I am sure most of you have heard real estate sales happen in cycles. Here is a short article that just reinforces what most of you believe but have not seen yet.

A History Lesson on Real Estate Cycles                                                                      View Uptown Charlotte Condos

 About every ten to twelve years, as an average, real estate values tend to double in most major metropolitan areas.  For example, in the 1920's, the original colonial homes sold for just under $2,500 in Long Island, New York.  Since then, real estate prices have doubled almost eight times over the last 80 years.  That averages out to a 100% increase approximately every ten years.  An interesting note to this is that about every ten to twelve years, real estate values must correct before they enter their next "doubling cycle". 

 It's Not a Matter of If, It's a Matter of When

 The evolutionary process is three steps forward and one step backwards.  For example, imagine a 100% increase occurring in three steps of one-third parts each.  The last market cycle of the 1980's was one in which real estate values doubled, followed by a correction of the early 1990's, which equated to a 20-30% decrease over a three to five year period.  This cycle was then followed by the post-millennium cycle boom of 100% from the last high point of the previous cycle.  We are now in the naturally-occurring phase of a correction in the cycle.  This essential and beneficial adjustment gives the market pause to reflect and re-gather momentum and strength for the next doubling cycle.  This has occurred time and time again because the long-term demand for housing is growing an exponential rate based on population growth to almost double in the United States by 2050.  This will continue to drive prices higher as it has for the last 100 years.

 Since we now know based on history that nearly all real estate prices will double again, it's not a matter of if, it's a matter of when your existing houses will sell.  Sharing these facts with your prospective buyers will put them in the right frame of mind to buy now versus next year if they plan on staying in the home more than five years.  If a buyer is apprehensive about being the right time to invest, ask him if he'd like to buy his parent's home for the price they paid for it - the answer will be obviously "yes".

Charlotte and the Lake Norman area area already beginning to see a lot more activity. I believe this spring and summer we will start to get back on tract and ease people minds about our economic recovery.

Lake and Town Realty