Condo-hotel next to arena awaits land deal with city
DOUG SMITH
Charlotte developer David Furman of Boulevard Centro has finalized
plans for a 25-story condo-hotel next to Charlotte Bobcats Arena,
extending uptown's run of condo and office towers reshaping the skyline.
He plans 117 condos atop 155 boutique hotel suites in an estimated $56
million project called Concourse.
Boulevard Centro would like to start construction by summer and finish
in spring 2009.
The city has agreed to sell the company a one-third acre parcel on the
Caldwell Street side of the arena, but the City Council still must approve
an amendment in January reducing the price and clearing the way for the
sale.
Furman, who won the right to buy the land in January after a bidding
competition, is seeking a reduction from $2.5 million to the appraised
value of $2.1 million, said Tom Flynn, city economic development director.
The council is expected to go along with the deal.
The city believes it's fair, Flynn said, because of the additional
expense Boulevard Centro will encounter in putting a parking deck for
hotel guests on top of the arena's loading dock.
Also, he said, the city likes the plan and has confidence in Furman's
ability to get it done.
Boulevard Centro has completed the 17-story Courtside condos on
Caldwell Street, and is working on 28-story TradeMark on West Trade
Street.
Furman said the company became interested in the arena property about a
year ago. After contracting to buy the challenging site, he plunged into
designing a building that would fit.
He said the location next to the arena and near the planned EpiCentre
entertainment complex, the courthouse and a proposed Brevard Street stroll
district seemed ideal.
The hotel operator, LodgeWorks of Wichita, Kan., also was impressed
with the site, he said.
The planned masonry, metal and glass building will have a ground-level
lobby with a restaurant, bar and other amenities for both residents and
hotel guests.
Residents would be able to use a pool on the seventh-floor terrace, a
fitness center and a meeting room with a 15th-floor terrace.
Condo owners also could use the use services of the hotel, including
housekeeping.
The condo floors, which start at the 17th level, will give residents an
unobstructed view of the skyline over the top of the arena.
Furman said the condos were priced to satisfy a shortage in the most
popular uptown price range.
Units at Concourse will sell from about $180,000 to $300,000, he said.
The average condo size will be about 660 square feet, but the building
will have 25th floor penthouses of roughly 1,300 to 1,400 square feet
each.
The average price of penthouses will be about $700,000.
Furman said every unit will be furnished with a flat-screen TV,
refrigerator and washer/dryer.
Boulevard Centro began contacting a list of prospective buyers this
week, and so far has reservations on 25 units.
Concourse likely will appeal most to young, single professionals who
have helped fuel 14 other high-rise residential announcements in the
center city over the past three years.
The building's first six levels will be parking.
Furman said parking floors will be screened with louvers, colored glass
panels and lighting to give the base a soft glow at night.
The hotel suites will be spread over 10 floors just above the parking
structure. The condos will fill eight floors. Penthouses will be on the
top level.
Boulevard Centro's Emily Sangiovanni is handling sales. More
information: www.blvdcentro.com/concourse.
DEVELOPMENT Doug Smith
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