Week-End Happennings in Charlotte 6-10-11
A Mix of Charlotte News and Fun
Taste of Charlotte begins today at 10 in Uptown
Streets are closed Uptown for this annual food fest from the area’s best restaurants. Kids can play at the block long Adventure Village while Mom and Dad have tropical drink or try a unique beer with a tasty morsels- more on Facebook more than 100,000 are expected at this weekend long event.
Daimler Trucks is adding a 2nd shift in their Mt Holly plant, hiring 700 workers as demand for their Freightliner truck increases
Superintendent Peter Gorman announced he is leaving Charlotte-Mecklenburg Schools this week to take a (very well paid) job with News Corp . A controversial figure, Gorman leaves these schools in much better condition than he received them. I didn’t agree with all that he did, but I admired his dedication, leadership and commitment to educating all of the County’s children. My only surprise is he lasted this long with such a dysfunctional budgeting system and board.
In Real Estate, plans were announced fora $100M “office park addition ” to East Ballantyne.
Bissel companies broke ground on two ten story buidlings that would add 550,000 sf and 2000 jobs (est) to the area. Confidence is high- it is being built on spec. Ballantyne office space has its lowest vacancy rate in years despite the economy and this submarket leased over 275,000 sf in the past year -apparently there is even more demand for this hot suburban location.
Home Sales in May is a cup half full and half empty story. Home sales were up 16% in May from April, but well below (11%) last year’s tax credit May sales event.
The most telling real estate number’s not released by our local board and recent press release?
Reviewing the the core Charlotte area, from Lake Norman to Waxhaw, a quick check of the numbers shows home sales are at volume levels not seen since 2002. Our sample was 6.8% below 2002 levels. Only the top 22% of values are selling- 2,495 homes listings changed to either Closing, Pending, or going under Active Due Diligence, in our sample of nearly 11,000 Active Home Listings. During the same 30 days, in the same core area, 2,381 New Listings came on the market.
The Ballantyne additions will fuel home sales down 521 and nearby Charlotte and Union county. Residents of Ballantyne Country Club, Bridgehampton and Stone Creek say Thank you!
A little know fact, for every 2 jobs created, demand is created for one house. So, bring on those 2,000 jobs.