• CATS Micro, an on-demand, shared-ride service, is expanding its territory to northern municipalities. The new service using CATS Micro-branded vehicles will be provided.
  “On-demand trips” mean you can access service when needed within the service hours listed below. The wait time for the service is intended to be no more than 30 minutes from the time of reservation to the time of pickup from your requested location within the service zone; however, traffic delays may impact these times. We urge you to check your CATS-Pass app throughout your experience for the most up-to-date information.
  
  All CATS Micro trips must be scheduled through the CATS-Pass app or arranged by calling the CATS Customer Service on the day of service. Customers cannot hail a CATS Micro vehicle from the curb.
  
  The CATS Micro zone serves areas north of I-485, including Huntersville, Davidson, and Cornelius. See the map of service and read the article.
  
  

1. HUD Secretary Vows to Work with Builders to Cut Regulations, Boost Housing Supply From NAHB. Secretary of Housing and Urban Development (HUD) Scott Turner today said he would work to reduce regulatory burdens to ease America’s housing affordability crisis and help builders construct more attainable, affordable housing.
   
   In one of his first official speaking engagements after being sworn in as HUD secretary earlier this month, Turner addressed the National Association of Home Builders (NAHB)Leadership Council, which met in Las Vegas with the 2025 International Builders’ Show (IBS).
   
   “A home is more than four walls. It’s the foundation of a thriving community,” said Turner. “To decrease the cost and increase the supply of affordable housing, we will terminate these unnecessary, ineffective, and costly regulations.”
   
   Turner pledged to work with home builders and all interested stakeholders to find long-term solutions that make homes more affordable, spur business creation, and create economic opportunity for all Americans.
   
   “It’s time we unleash the power of the private sector and the free market to build our way out of the housing affordability crisis,” said Turner. “We are returning to the drawing board to restore efficiency at HUD.”
   
   The HUD secretary further emphasized that as part of this process, “the foundation of a stable fiscal house is regulatory reform. At HUD, we are taking inventory and terminating all cumbersome regulations that make it harder for individuals and families to realize the American Dream of homeownership.”
   
   After addressing the NAHB Leadership Council, Turner participated in the IBS by touring the exhibit floor's latest building products and innovations.
   
   
2. Mecklenburg County Seeking Input Through Annual Online Budget Survey. Closing Soon, so Act Now!
   
   [TAKE SURVEY NOW]
   
   Each year, Mecklenburg County develops an annual operating budget that reflects the priorities of the County Commission and the community. We are currently developing the Fiscal Year 2026 Budget, which starts July 1, 2025, and ends June 30, 2026, and they need our help!
   
   Your input on the following survey will help us understand whether your needs for selected county services are being met and which services should be prioritized for the next year.
   
   This survey will take most people less than 10 minutes to complete, and your responses will remain anonymous.
   
   The County provides a variety of services to residents. County department services include:
   
   • Air Quality
   • Child Support Enforcement
   • Code Enforcement
   • Court Services Coordination
   • Domestic Violence Services
   • Economic Development
   • Flood Mitigation
   • Historic Landmarks
   • Homeless Support Services
   • Jails & Detention
   • Land, Property & Vital Records
   • Medical Examiner
   • Park & Recreation
   • Property Valuation
   • Public Health
   • Public Libraries
   • Recycling Centers
   • Social Services
   • Solid Waste Disposal
   • Stream & Lake Quality
   • Tax Collection
   • Veterans Services
   • Voting Services
     
     

1. City of Charlotte Seeking Input Through Annual Online Budget Survey.
   
   [Take the Survey]
   
   The City of Charlotte is seeking input from residents regarding their budget priorities for the upcoming fiscal year.
   
   As part of this effort, the city will host three budget engagement events, listed below, throughout March, providing residents with multiple opportunities to learn about the budget process and share their feedback.
   
   • March 4, noon: Virtual Lunch and Learn Session [This event has passed.]
   • March 18, 6 p.m.: In-person Budget 101 Session
   • March 27, 6 p.m.: Virtual Community Conversation
     
     
   Residents can also share feedback through the FY 2026 Budget Survey, which will remain open until April 7, and engage with the Balancing Act simulator. The Balancing Act is a tool that allows residents to test their budgeting skills and balance the city’s more than $4 billion budget.
   
   “The city’s budget is more than numbers – it’s a plan that connects people to opportunities, strengthens neighborhoods, and enhances the quality of life,” said Marie Harris, interim director of the City of Charlotte Strategy & Budget Department. “Every decision impacts daily life, from the roads we travel to the housing and job opportunities residents can access. That’s why we want to hear from as many people as possible to ensure their voices help shape the future of our community.”
   
   Following the resident engagement, the city manager will present the Proposed FY 2026 Budget on May 5.
   
   Council workshops and presentations can be streamed on the GOV Channel, YouTube, and the GOV Channel Streaming App.
2. Meck County's Phase-out of Code Enforcement's older customer portals begins as Accela becomes the preferred portal for all projects. Earlier this year, Accela became the preferred customer portal for all project types. We are delighted to offer this enhanced service to our customers.
   
   As Accela moves forward, the agency prepares to move away from the legacy portals where our customers have worked for decades. This process will take place gradually to allow our customers to adjust their workflows and account for projects already in process.
   
   The sunset of the previous portals began in February with POSSE Outrider, also known as Web Permit or the contractor dashboard. New applications are no longer being accepted in Outrider for the following project types:
   
   
   • small commercial projects
   • new trade permits
   • equipment changeouts
   • Trade internet permits (TIPS/ETIPS)
     
     

   Customers should now submit new applications for these project types using Accela.
   
   Customers who have already submitted applications for these project types in POSSE may continue using the older portal for that project.
   
   Customers who have not done so are encouraged to set up an Accela account. In the weeks and months ahead, more project types will be removed from the old portals.

3. Rents Plunge in Austin for All The Right Reasons. Shot in arm for economic balance by using the market to correct escalating rent prices.
   
   I am sharing information from this forwarded email that illustrates a great example of the market working as it should. Increase the supply, and the cost will come down. We quote this piece from the correspondence:
   
   Austin is the same size and has very similar demographics to Charlotte, so this is doubly relevant. The "proof is in the pudding" makes this a powerful tool to lobby the City and County with—"Look, if you fix your Development Ordinances and just get over yourselves, development WILL happen, more units WILL come, and Rents Will Become More Affordable!!!"

Early in February, NAIOP Charlotte leaders attended the Chapter Leadership and Legislative Retreat (CL&LR) in Washington, D.C. One of the event's highlights is the meetings with our senators and representatives to educate elected officials on the issues important to the commercial real estate industry. The annual CL&LR is an important event and is the kickoff to what is sure to be a consequential year for commercial real estate in terms of federal legislation. Thank you to everyone who attended and impacted commercial real estate in our region.

See Retreat Photos

On February 12, 2025, NAIOP Charlotte hosted a Local Advocacy 101 program to help members become advocates for commercial real estate. Advocacy allows you to clarify your perspectives, use your voice about something important to our industry, and help affect change. Learn more about our local elected officials and how to connect effectively and share perspectives on commercial real estate. Take the next step and get involved.

A special thank you to our speakers: Councilman Ed Driggs, Assistant City Manager Alyson Craig, REBIC Executive Director Rob Nanfelt, and REBIC General Counsel Larry Shaheen.

North Carolina is the fourth highest-ranking state in the U.S. for overall contributions of commercial real estate to state GDP, with $34.2 billion, $15.2 billion in direct spending, $10.5 billion in personal earnings, and 185,936 jobs supported in 2024 (the most recent data available). 

• Industrial (includes manufacturing): North Carolina ranks #6
• Office: North Carolina ranks #9
• Retail: North Carolina ranks #6
• Warehouse: North Carolina ranks #9

The data is from “Economic Impacts of Commercial Real Estate, 2025 U.S. Edition,” published annually by the NAIOP Research Foundation.

1. NC Senate President Pro Tem Phil Berger and House Speaker Destin Hall Visit REBIC
   On Monday, February 24th, North Carolina Senate President Pro Tem Phil Berger and House Speaker Destin Hall visited Charlotte to brief REBIC members on the current legislative session and discuss various issues. Also present were Senators Dave Craven and Brad Overcash, along with Charlotte City Councilman and Transportation, Planning, & Development Committee Chair Ed Driggs.
   
   The top-of-mind issue for most in the room was the introduction of S.B. 145, the Mecklenburg Transportation Referendum. The passage of this legislation would be the first step in achieving our goal to develop and implement a regional transportation plan. The bill’s introduction marks a significant milestone following more than five years of coordinated efforts on both local and state levels. In addition to REBIC, the Partnership for Regional Cooperation and the Charlotte Regional Business Alliance have been at the forefront of this initiative. We highly encourage others in the business community to support us as we seek passage of this important bill.
   
   Should it make its way through the legislative process, it will then be up to the Mecklenburg County Commission to place the issue on the November ballot. At that point, taxpayers will be asked to allow for a one-cent sales tax increase to fund future transportation projects. The establishment of an authority to manage those funds will be incorporated at a later time.
   
   Other topics discussed included the following:
• Disaster relief for Western North Carolina - The State of North Carolina has more than $5 billion in its rainy-day fund, but the needs, when all is said and done, will likely exceed $60 billion.
• Crime- Legislators are working with local police departments and others as they consider legislation aimed at preventing pretrial release for some violent offenders.
• Budget - The Senate will initiate the budget during this cycle and the changes the legislature has made in tax policy over the past decade have made a big difference in our ability to attract new businesses and grow the economy.
• Higher Education - Legislators discussed the importance of higher education and acknowledged the elevation of UNC Charlotte to a premier national research institution.
2. Congressman Tim Moore Provides a DC Update to REBIC Members
   Tim Moore, former North Carolina House Speaker and now US Congressman from the 14th District, visited us to discuss his latest efforts. First, he shared his work to ensure that appropriate federal resources are directed toward Western North Carolina storm victims as effectively and efficiently as possible. Next, he discussed his work on the Finance Services Committee and the Budget Committee as Congress gears up to preserve the tax relief measures put in place several years ago. He also shared information on the cost-cutting measures implemented at the federal level.
   
   Immediately following this event, we were lucky enough to escort him to the podcast booth, where he recorded an episode of “Getting Real with Rob.” We will announce the release date soon!

Originally published on February 20, 2025, by Bergin Fisniku for Elliott Davis.

At the beginning of February, President Trump outlined his tax priorities in a meeting with Republican lawmakers, revealing a few new proposals not previously mentioned on the campaign trail. One notable item on his agenda is the push to end the so-called “carried interest loophole.”

The Real Estate and Building Industry Coalition (REBIC) wishes to applaud the efforts today of Senators Bill Rabon, David Craven, and Vickie Sawyer for filing Senate Bill 145, Mecklenburg Transportation Referendum. This legislation, which REBIC strongly supports in conjunction with our partners in the business community and throughout Mecklenburg County, is an important financing tool that will enable our community to address the transportation infrastructure challenges arising from the 100 people a day moving here as we continue to be one of the most attractive regions in the nation in which to live and do business.

Leadership within our county, city, and towns continue to face budget shortfalls when trying to keep up with rapidly expanding transportation needs. The real estate industry recognizes this and knows that the solutions provided in S.B. 145 will enable continued growth and prosperity by providing an opportunity for local decision-makers to invest in transportation solutions. Without solving our infrastructure challenges, our region will continue to be constrained in our ability to provide people with mobility choices, and provide for the movement of goods and services in the most efficient and cost-effective manner possible. This investment will literally pave the way to continued opportunity and growth with direct funding for more road infrastructure and a comprehensive mobility solution for all of Mecklenburg County.

Originally published on February 2025 by Moore & Van Allen.

NAIOP Charlotte Member and Moore & Van Allen's Head of Environmental, Mary Katherine Stukes, was named to the 2025 Lawdragon 500 Leading Environmental Lawyers – The Green 500 guide.

Join Us on Our Rescheduled Dates!

Due to inclement weather concerns, the NAIOP NC Conference on February 20-21 has been postponed. Above all, the safety of our event attendees remains our top priority.

The conference will be moved to March 4-6, 2025 (optional networking on the 4th, sessions on the 5th, and check-out on the 6th). We recognize that this timing coincides with other industry events and have coordinated with relevant groups to notify them of the change.

[In early February] NAIOP members from the U.S. and Canada attended NAIOP’s Chapter Leadership and Legislative Retreat (CL&LR) in Washington, D.C., with U.S. members scheduling meetings with their senators and representatives to educate elected officials on the issues important to the commercial real estate industry. Our annual CL&LR is an important event and is the kickoff to what is certain to be a consequential year for commercial real estate in terms of federal legislation. Just as important as the substance of the issues that will be at the center of the discussion during NAIOP’s Capitol Hill meetings are the relationships that exist and are fostered between elected representatives and their local NAIOP constituencies. The message coming from NAIOP members who are also constituents tends to leave a lasting impression on elected officials and their staff.

Originally published on January 27, 2025, by Moore & Van Allen.

NAIOP Charlotte Member and Moore & Van Allen's Head of Environmental, Mary Katherine Stukes, was selected for the Charlotte Business Journal’s 2025 Women in Business Awards program.

The NAIOP Research Foundation has published the annual Economic Impacts of Commercial Real Estate, 2025 U.S. Edition, research study. The combined economic contributions of new commercial building development and the operations of existing commercial buildings in 2024 resulted in direct expenditures of $898.5 billion and the following impacts on the U.S. economy:

• Contributed $2.5 trillion to U.S. GDP.
• Generated $862.5 billion in personal earnings.
• Supported a total of 14.2 million jobs.

Other highlights from the report:

• Each $1 of construction spending generated a total value of $2.95 for the economy, reflecting the cumulative effects of the initial construction expenditures as they cycle.
• The U.S. Census Bureau estimates that private data centers represented 28.7% of office construction value in 2024, an increase from 19.7% in 2023. This is the first year the organization has separated data center construction from financial and general office construction.
• Industrial (manufacturing) and warehousing starts are down but still significantly above pre-pandemic levels. Much of the new online construction can be attributed to recent reshoring efforts in the U.S., including the CHIPS Act and Inflation Reduction Act.
• Demand for retail space in 2024 remained strong and shifted toward smaller, more creative spaces. Successful retailers offered experiential shopping with a more personalized touch or other activities, such as dining, for consumers to engage in between shopping. While larger department stores struggled, retail as a whole proved resilient.
• Some cities have experienced a larger recovery in office attendance than others. New York, for example, reached 82% utilization as of October 2024 and 91% for top-tier office buildings, indicative of a shift in demand to high-quality office properties. See data by State.

Download the Report

Originally published on January 9, 2025, by Maria Gatea for NAIOP.

Self-storage construction has been on an upward trend since 2020 as the sector has become increasingly popular with American consumers, offering flexible solutions for life’s many transitions. While new construction has dominated the industry for decades, a significant shift is occurring: Existing industrial and retail buildings are being converted into self-storage facilities. This trend is optimizing urban real estate and meeting the growing demand for storage in densely populated areas.

Originally published on January 6, 2025, by Ed Finkel for NAIOP.

The fortunes of the commercial real estate sector should be somewhere between status quo and modestly improved over the next year, with housing, industrial, data center, and advanced manufacturing among the most dynamic asset classes, according to a cross-section of developers and investors who sit on NAIOP’s board of directors.

2025 Cornerstone Sponsorship Info

NAIOP Charlotte has a strong and active membership comprised of commercial developers, owners, brokers, bankers, architects, engineers, attorneys, and title companies working to advance all commercial real estate sectors.

The Cornerstone Sponsorship supports and enriches the Charlotte Chapter while offering professionals and organizations an opportunity to build and strengthen relationships, increase brand visibility, attend key industry events, and have an active voice in Charlotte’s commercial real estate activities.

Cornerstone Sponsorship Program

On December 4, 2024, NAIOP Charlotte hosted the Annual Meeting: Navigating the Horizon in 2025. The panel peeked into the future of Charlotte's commercial real estate landscape as we explored the public policy shifts, legislative changes, and evolving business practices poised to shape the industry. Below are resources to dive deeper into the discussions.

• 2024 Midyear NFP P&C Client Claims Journal and Trend Report: https://www.nfp.com/media/l0spiupg/h1-trndclms-24.pdf 
• MVA article on PFAS designation: https://www.reuters.com/legal/legalindustry/implications-pfas-cercla-liability-commercial-real-estate-industry-2024-06-17/
• MVA article on wetlands: https://today.westlaw.com/Document/I0eb92c79379711ee8921fbef1a541940/View/FullText.html?transitionType=Default&contextData=(sc.Default)&VR=3.0&RS=cblt1.0&firstPage=true
• Information page re: Charlotte Water interbasin transfer request: https://www.charlottenc.gov/water/DevelopmentBusiness/Charlotte-Water-IBT
• Brownfields tax incentive information: https://www.deq.nc.gov/about/divisions/waste-management/brownfields-redevelopment-section/program-information/tax-incentives
• EPA's PFAS Enforcement Discretion and Settlement Policy Under CERCLA: https://www.epa.gov/enforcement/pfas-enforcement-discretion-and-settlement-policy-under-cercla
• Tax Policy Post Election - Preparing for the Trump Administration's Tax Policy Plans: A Sector-by-Sector Guide
• Basel III Endgame  - Federal Reserve Dials Back Basel III Endgame Regulation – Market Share
• Adaptive Reuse Introduced Legislation - Bipartisan Property Conversion Incentive Legislation Introduced – Market Share

ESG Reporting Requirements

• SEC – Insights | Elliott Davis | Aligning with SEC Climate Regulations: A Strategic Approach
• California's Impact on North Carolina Businesses - Insights | Elliott Davis | What SB 253 and SB 261 Mean for Your Company's Sustainability Goals

Originally published on December 16, 2024, by Daniel Maldonado for NAIOP.

As we approach the end of 2024, the life sciences space is undergoing a noteworthy transformation. After a sharp post-COVID-19 downturn for the sector, there is a significant revival in venture capital activity, strategic landlord adaptations, and evolving market dynamics on the horizon that may shape the future of life sciences real estate for the better.

Originally published on December 11, 2024, by Erik Spanberg for Charlotte Business Journal

The Charlotte Regional Business Alliance has hired Tracy Dodson to fill the newly created Chief Operating Officer position. Dodson, who now runs the city of Charlotte’s economic development division, will also fill the lead economic development executive role at CLT Alliance. This position has been vacant for a year.