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City Council Members Meet with NAIOP Charlotte for LWAL

Last week, NAIOP members met with City Council Candidates Dimple Ajmera and Marjorie Molina to discuss important issues impacting Charlotte’s CRE industry.

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The Lunch with a Leader series provides NAIOP Charlotte members an exclusive opportunity to meet and interact with key leaders in our community. Look for upcoming NAIOP Charlotte fall events here.

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UDO: Planning Committee to Review and Recommend

Compiled from REBIC, staff reports

REBIC’s Rob Nanfelt reported Tuesday that the City’s Planning Committee is taking up the matter of the proposed Unified Development Ordinance. Next month, committee members will take any additional recommendations before the third/final draft.

Last week, the Charlotte City Council received comments from the community during a public hearing on the proposed UDO. Click here to view the resolution. The entire hearing is available to view here – beginning approximately at the 2:51:30 mark.   

Next is a review and recommendation from the City’s Planning Committee scheduled to begin Tuesday, July 19, at 5 p.m. Those interested can view it on the City’s Planning Department YouTube Channel. The complete agenda and meeting packet is available here.

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Charlotte UDO Public Hearing Held Monday

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On Monday, Charlotte's proposed Unified Development Ordinance (UDO) public hearing took place in the City Council Chambers. 

Many in the audience turned out for the Public Forum portion of the plan, but several neighborhood activists were also on hand. That group mainly wanted to challenge the ordinance provision allowing for higher-density dwellings in single-family neighborhoods. REBIC supports a wide range of housing types and believes the development of additional units is necessary to meet current and future demand.

The City Council also voted 9-2 to adopt a policy providing source of income protections to prospective renters of properties developed using a taxpayer-provided subsidy, conveyance of property, or infrastructure reimbursement incentive such as a Tax Increment Grant (TIG). The policy seeks to promote the use of Housing Opportunity Vouchers that some property managers and landowners have been reluctant to accept. Proponents have argued the policy is necessary to eliminate a discriminatory practice. Opponents are concerned it will result in less affordable housing units for future development.

More from the meeting

The Charlotte City Council received comments from the community on Monday at a scheduled public hearing on the proposed Unified Development Ordinance (UDO). Click here to view the resolution. The entire hearing is available here - beginning approximately at the 2:51:30 mark.   

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UDO Meeting Set For July 11; CLT Water Plan Review Back On

REBIC's Rob Nenfelt and his team put together this week's Two For Tuesday and UDO takes center stage early next week.

UDO - Public Hearing Scheduled for Monday

The Charlotte City Council has scheduled a public hearing on the proposed Unified Development Ordinance (UDO) for Monday, July 11. The Council Action Review begins at 5:00 pm followed by the Public Forum/Business meeting at 6:30 pm. An agenda should be available here by Friday afternoon. Click here to sign up to speakRebic Logo

Also, Planning Staff has just released responses to public comments submitted prior to last Thursday's deadline. Additional changes will be reflected in the next and likely final draft when it is released which will occur prior to the expected vote on adoption in late August. Here's a link to the page containing the Second Draft Public Comments - With Staff Responses.

For additional UDO resources, please visit Charlotte's Unified Development Ordinance (UDO) - (charlotteudo.org).

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Vacant Storefronts Can be Repurposed into Retail Incubators

Retail incubator

Vacant Storefronts Can be Repurposed into Retail Incubators

They can provide an immediate boost in shopping districts and grow future businesses into long-term tenants.

  • Written by Ilana Preuss, Development Magazine

The COVID-19 pandemic has left America’s retail districts pockmarked with empty storefronts, but there is a creative solution. These vacant spaces, which often can be purchased or rented at reduced prices, are prime targets for conversion into retail incubators.

Retail incubators, like business incubators, nurture new or small-scale entrepreneurs during the startup phase. They mitigate some of the challenges of opening a business by providing financial and technical assistance, such as the basics of marketing and business plans. Tenants typically share space, ideas and operating expenses in locations that they could not otherwise afford. Many spaces have flexible or temporary lease terms. Some allow for small-scale manufacturing and hold community events, such as product demonstrations, fashion shows and art openings.

In addition to real estate, retail incubators provide fledgling businesses with valuable resources such as technical and financial assistance.  

According to the U.S. Chamber of Commerce, new business applications in the United States set an all-time record of 5.1 million in 2021. At the same time, the pandemic has led to consolidation of space and locations by major retail brands, which reduced the prospect of attracting businesses. The challenge for small businesses is they can’t immediately fill the footprints of major store closings. However, they can make temporary use of retail space to establish their businesses, and occupying formerly abandoned stores can help energize struggling downtowns.

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Charlotte Future 2040 Policy Map - RECOMMENDED FINAL DRAFT

 

originally published by City of Charlotte and shared with NAIOP. 

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Dear Charlotte Future 2040 Partners,

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COVID-19 Creates a Downshift in Parking Demand

Originally published in the Spring 2021 Issue by Jennifer LeFurgy, Ph.D. for Development Magazine.

Large revenue shortfalls will accelerate technological advances, conversions and design innovations. 

Quarantines and business shutdowns fueled by the COVID-19 pandemic have led to a dramatic decrease in parking demand. Subsequently, many sectors of the economy that depend on parking revenue are facing budget shortfalls this year.

Spothero.com reported in 2020 that the parking industry saw parking volumes in many areas fall by up to 97%, resulting in job losses and furloughs for 50% of the industry’s workforce. Commuter lots had a 50% to 70% reduction in use, while visitor lots saw up to a 95% drop from the same time the previous year, according to a survey by Smarking, a parking software company. 

Municipalities are scrambling to recover not only lost parking income but also a dramatic reduction in revenue from fees and fines. A 2019 CarRentals.com survey of parking data for 16 major U.S. cities found that they collected a total of $1.4 billion in annual parking ticket revenue. In 2019, Chicago issued 2.06 million parking tickets. Through June 30 of 2020, the city gave out less than 500,000. New York City projected that it would lose $600 million in parking revenues in 2020.

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A New Asset Class: The Future Hybrid Store

Originally published on April 9, 2021 by Brielle Scott for NAIOP Blog.

The disruption caused by COVID-19 has accelerated the blending of brick-and-mortar retail and logistics real estate. This has resulted in the emergence of a new hybrid store model – one that takes omnichannel strategies to the next level and promises to revolutionize the retail, industrial and logistics industries. 

In a recent NAIOP webinar, John Morris, head of industrial and retail, CBRE, and Andres Rodriquez, senior research analyst, CBRE, shared their vision for a hybrid store that preserves the store experience for physical shopping while leveraging logistics capabilities for the fulfillment of online sales. 

Rodriquez started the discussion by sharing some historical data. According to data between 2010-2019, prior to the COVID-19 pandemic, online retail sales were growing about 16% per year, while in-store retail sales were growing about 3% per year. In response to that, retailers had been focusing heavily on rolling out their online platforms to meet consumer demand. 

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Blue Line Corridor Rezoning Informational Drop-In Meeting

You are invited to drop in (see hours below) to learn about the City of Charlotte’s plan to rezone land along the Blue Line light rail corridor, in order to align with the adopted recommended future land use and community vision. A presentation will be given at 15 minutes after the hour. City staff will be on hand to help with any questions.