Real Estate
Owner of Augustalee property is ‘totally against’ I-77 toll plan
By Dave Yochum. Even as people like Charlotte Mayor Dan Clodfelter are expressing concerns about the current plan to toll I-77 between Lake Norman and Charlotte, one of the big landowners along I-77 says he’s opposed, too. Robert Stevanovski, co-founder and chairman of Concord-based ACN, is one of the owners, along with other ACN executives, of […]
Changes envisioned for downtown Davidson
Sept. 1. Davidson’s quaint downtown may be in store for some significant changes, if projects being considered in the Downtown Catalyst Project Initiative from the UNC School of Government are adopted. The changes focus on the possibility of adding shops, restaurants, offices, and residences along the west side of Main Street in front of town […]
Realtor forecasts LKN future with $10 million estates
There were 170 home sales pending valued at more than $500,000 in June, a 10-year-high. The market is hot enough for a new trend: Multiple tear-downs for larger estates as lakefront properties in Cornelius and Mooresville once again approach 2008 peak Properties in both Cornelius and Mooresville once again began to approach 2008’s peak lot […]
New houses get red flag for Waltrip site
Aug. 26. By Dave Yochum. While the principal investor in Michael Waltrip Raceworld is saying the best use for the property at Liverpool and Chartwell Center Drive is a housing development—not a race shop—some town officials think otherwise. For all intents and purposes, he said the property is a tear-down. “I believe the highest and […]
Simonini plans swank homes on small lots near the Teeter
Aug. 18. Custom homebuilder Simonini Homes is planning a new development with 22 upscale houses facing a central green space or park on the long-vacant block between the Harris Teeter on Jetton Road and Charlestowne Road. The homes planned are in the $500,000-plus range, pegging the project’s total value at well over $11 million. The […]
No sign of a slow-down in high-end residential market
The economy is good enough that even lenders are loosening up. Appetites for mortgages over $500,000 are back at levels not seen since the downturn, and more small banks and investor funds are looking for a piece of the action. Nationally, home prices were up 4.2 percent from April of last year to April of […]
CMBS delinquency rates keep falling
By John Rehkop. After several years of stagnant growth, the commercial mortgage backed security (CMBS) market continues to pick up steam as a rise in new loan issuance is causing delinquency rates for commercial loans to fall, both locally and nationally, according to commercial real estate research firm Trepp, LLC. In the Charlotte metropolitan area, balance […]
Home prices strengthen; what a difference a view makes
High-end home prices in Denver are benefitting from “much-improved highway access to Charlotte. “The Denver area with it’s newly widened highway and improving amenities has posted five straight quarters that exceeded the comparable prior-year quarter,” says Reed Jackson, managing partner of Ivester-Jackson Distinctive Properties in Cornelius. A major change in this year’s luxury home sales […]
Kannapolis signs final purchase agreements for downtown real estate
June 28. Kannapolis City Council members have finalized the purchase agreements for properties located in the downtown area, including property controlled by David Murdock. The City has purchased land and buildings for $7,550,000 from Castle & Cooke and Atlantic American Properties Inc. The City is also purchasing K-Town Furniture from the Uwharrie Bank for $875,000 and […]
Real Estate legend Allen Tate Dies
June 22. Allen Tate, Jr., founder and chairman of the Allen Tate Co. and a leading voice in real estate and economic development for more than 60 years, has died at his home in Charlotte. He was 84. Tate had been in failing health for a number of years, but continued to work at his […]
