ASR was approved in May, but no site permit submittals thus far.
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I heard they were changing the plan to a 5-over-1 reverse donut concept. All parking exterior with interior windowless apartments and a basement-level indoor pool.
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The basement-level indoor pool is something else, break-ground.
Probably on hold like everything else we got excited about.
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Vela Charlotte pushed to Q4 2024. Not sure if that is also for every other Vela project.
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Yeah I honestly donāt think this one is happening here anymore, but they got the plot rezoned for future use, at least!
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Interest rates are killing almost everything that doesnāt have time-sensitive government money attached (aka RUSbus + City Hall)
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*everything that isnāt rental residential
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Hoping this project still comes together without any crazy value engineering happening to the design.
With interest rates likely coming down in 2024, Iāve got some optimism projects like this will still happen.
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I donāt understand this sentiment. Just because something is quiet doesnāt mean itās not happening. The ASR was literally just submitted a little over a year ago and thereās no word that it has been cancelled.
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Because like 25 projects that were announced for downtown in the last few years have been cancelled quietly
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It would make no sense for VeLa to cancel. Unlike the other projects, they have success elsewhere. Locations in other cities have either already opened or have started construction. Charlotteās came several years ago and took a bit for construction to start too. Especially when you consider this is an outside company & this is supposed to be their flagship location.
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āCharlotteās came several years ago and took a bit for construction to start tooā - @bnsy17
Wonāt this be Charlotteās first Vela?
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I just want see every 30 36 stories to start construction in 2024
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Interest rates will go down youāll start to seeing shovels on the ground, Mi amigo Pedro.
Whatās need to go down is the inflammation
Iāll agree with that, inflammation might actually be more common in this country than inflation.
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I still think its pretty silly and overly negative to come in guns blazing with the āyeah this is done forā claim everytime its been a few months without an update. The Weld flew under the radar and now we have multiple 20 story towers under construction.
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Yeah a couple things, mostly apartments, have moved forward. Most have not. Iām not getting off on being doom and gloom, but Iām jaded at this point until interest rates and the economy and labor shortages and material shortages and every other damn thing that keeps getting cited goes away.
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