First of all, I use the terms "Uptown" and "Center City" interchangeably.. because they are the same place - the downtown area of Charlotte. Locals typically say Uptown, while we are trying to transition the name to "Center City" as it makes more sense. Anyhow, as you can see in the picture above, construction cranes are everywhere in Uptown and growth is rampant... which is great! Charlotte is emerging from a smaller Southern city into an exciting metropolitan area full of big city excitement, all while keeping a sense of Southern hospitality and charm... a great balance that fits the city and appeals to newcomers and visitors. The growth scares some people who talk about a "bubble bursting" - I think these people need to step back and look at our growth. We are not Miami where people sell new construction contracts multiple times before closing on property, that can kill a booming condo market, and it did... here, the original buyer must personally close on the condo before reselling it. This keeps things in check and controls false appreciation. Also, we are not one of those cities who are JUST building condo towers and not growing in a balanced manner. We are giving locals and new comers a reason to want to move to the Center City and stay here by development of the arts, parks, entertainment, sports, dining, and retail. On the way to Uptown are two new Uptown parks, the 250,000 square foot EpiCenter entertainment complex, the light rail line, proposed baseball stadium, a Ritz Carlton hotel, an ALoft hotel, a 48 story Wachovia office tower, a 32 story Bank of America office tower (showing both are committed to the city), NASCAR Hall of Fame, Cultural Complex of four world class museums, two more office towers, one more hotel, several nationally known restaurants, and much more. All this to join the already flourishing area including office and condo owners, Carolina Panthers football stadium, Charlotte Bobcats basketball arena, a convention center, Overstreet Mall, Ruth's Chris Steakhouse, Johnson and Wales university and more! Since I report mostly in real estate, I wanted to also point out the balanced growth of the Center City. No wonder The Wall Street Journal, New York Times, ABC News, and several real estate experts have called Charlotte a solid real estate market of controlled, steady and balanced growth!
