During the Charlotte City Council Zoning meeting, rezoning petition #2024-033 also known as "Clean-up Text Amendment #3" was unanimously approved. Another item, rezoning petition #2024-067, the Compact Residential Development Text Amendment, to which we have provided significant input, also received a public hearing. While this measure is not a perfect solution it does bridge the gap until additional text amendments can be drafted that allow for additional higher-density developments to meet attainable housing supply needs. The full Council is expected to vote on this amendment during next Monday night's meeting.
During last week's HBAGC Land Development Council meeting we had an opportunity to hear from Mooresville Mayor Chris Carney. He spoke about the changes he's been making since taking the helm back in December. During his remarks he also suggested our industry continue its engagement as the Town rewrites its comprehensive plan and UDO. Check out Mooresville Tomorrow for additional information. Spoiler alert: check back soon to hear about these issues on our next podcast.
The NAIOP CRE Sentiment Index for April 2024 is 52, a rebound from the September 2023 reading of 46, indicating that respondents expect conditions for commercial real estate to improve over the next 12 months.
Dan Melvin, PE, serves as a Principal at LandDesign, where he oversees a team of consulting civil engineers specializing in land development projects of varying scales and complexities. With extensive experience in Charlotte, Dan possesses an in-depth understanding of the region’s infrastructure and regulatory challenges, enabling him to devise practical solutions tailored to his clients’ needs.
Dan’s ability to cultivate strong relationships with clients and regulatory authorities is key in advocating effectively for projects within the local development community. His involvement in public-private partnerships has provided him with valuable insights into the development process, enhancing his approach to project management and problem-solving.
Tonight at 5:30 pm, the Charlotte Mecklenburg Planning Commission will take action on UDO text amendment 2024-043 aimed at curbing the use of Conservation Subdivisions for new development. This action will be to either recommend approval or denial of the proposed amendment. The meeting will be held in Room 267 of the Charlotte Mecklenburg Government Center, 600 East 4th Street, Charlotte, NC. If you cannot attend in person, you can visit the City's YouTube page to follow the action.
Passage of the amendment will effectively eliminate the use of this provision and is one of three interrelated matters currently before the council:
We are encouraging Members of the Charlotte City Council to take action on these provisions simultaneously so they may better consider the big picture as it relates to housing affordability.
Originally published on April 29, 2024, by Jay Biggins for NAIOP.
In the wake of the coronavirus pandemic, many downtowns across the country remain disquietingly vacant. Office towers that once hummed with activity are a bit quieter, the hallways emptier. The U.S. has the highest office vacancy rates – 18.4% – since 1992. Some levels of hybrid and remote work are here to stay, and now the commercial real estate landscape faces some tough decisions, offering both challenges, which are clear, and unique opportunities, which are less well-defined but coming into focus.
Originally published on April 24, 2024 by Matthew Preston for NAIOP.
With many returning to offices, sustainable commuting options are back in the spotlight. With this in mind, a recent study from CommercialCafe explored which mid-sized U.S. cities (populations between 220,000 and 500,000) are leading the way in offering eco-friendly commutes. By focusing on this specific size range, the analysis provides insights beyond major metropolises and allows for more fair comparisons of green commuting practices.
North Carolina is the sixth highest-ranking state in the U.S. for overall contributions of commercial real estate to state GDP with $44.1 billion, $19.1 billion in direct spending, $16.7 billion in personal spending, and 312.1 million jobs supported in 2023 (the most recent data available).
The data is from “Economic Impacts of Commercial Real Estate, 2024 U.S. Edition” published annually by the NAIOP Research Foundation.
Originally published on April 17, 2024, by Eric Schmutz for NAIOP.
With national and swing state polls indicating support between President Joe Biden and former President Donald Trump is fairly even, casual political observers could be forgiven for not realizing that House and Senate races are also tight; there could be a historic switch in the House and Senate majorities this November.
Originally published on April 18, 2024, by Anna Liza Montenegro for NAIOP.
Real estate development is an ever evolving and, at times, volatile business. Advanced technology can help to mitigate that volatility and improve processes in the construction and real estate industry. Building information modeling, or BIM, is one of the most powerful tools developers can use to reduce risk and ensure the profitability of their investments. BIM not only allows for better planning and project design, but also facilitates collaboration, communication, efficiency and ongoing asset management.
Originally published on April 16, 2024, by NAIOP.
Charlotte member Sean McMullan has been selected as a NAIOP Research Foundation Visionary.
Originally published on April 4, 2024, by Bob Boyer for NAIOP.
In the ever-changing world of construction, creative solutions are key to moving projects forward. In an industry where tradition can take precedence over innovation, it’s important for general contractors to regularly challenge the norm; doing so can uncover modern insights that reshape the way we build the communities where we live and work.
Originally published on April 3, 2024, by Aquiles Suarez for NAIOP.
On March 11, President Joe Biden submitted his FY 2025 Proposed Budget to Congress. Like the budget he proposed last year around this time, it contains a number of tax policy changes that, if enacted, would have an outsized negative impact on the commercial real estate industry. But unlike last year’s proposal, this is an election-year proposal intended as the administration’s statement on the economic agenda Biden will pursue if re-elected this November.
Originally published on March 25, 2024, by Brian Walker for NAIOP.
NAIOP’s Market Share blog sat down with 2024 NAIOP Chair Brian Walker to ask him about his career path, NAIOP experience, and vision for the association this year.
Originally published on March 13, 2024, by Kathryn Atkins for NAIOP.
Although this year’s I.CON West conference is taking place in California, much of the due diligence session applies to the rest of the country. In all aspects of due diligence, the goal is the same: How do we get the project for our investors through the approval cycle with the least risk, time and expense?
We are proud to introduce our new association members! The following is a list of individuals who have joined NAIOP Charlotte since January 1, 2024:
All four standing committees of the Charlotte City Council met yesterday. Here's a quick outline of what was covered with links to agendas and presentations.
Transportation, Planning, & Development
Planning Director Alyson Craig provided an update to the committee and referenced three text amendments that are currently working their way through the process:
