1Brevard: Charlotte’s first attempt at Uptown condos since the Great Recession
What is it?
1Brevard is a 174-unit, 30-floor condo tower located at the intersection of 4th and Brevard (on the same block as Skye Condos/Fahrenheit/Hyatt Place Hotel where there is currently a parking lot).
Amenities include a pocket park (built in front of the Skye building drive up behind the church), a crazy pool deck (although the sun may be blocked during times), a lawn with a performance stage, dog lawn, fitness area and a 31st floor observatory and terrace.
Developed by RTG Holdings and Gunn Financial, they plan to make this the start of a big comeback for condos in Uptown. This project will certainly be a litmus test and all eyes will be on presales to see if it’s safe to build condos again.
Starting at $400K for 687 sqft (yes, that’s $582 per square feet), I’d say they are pushing the limit to what the market can sustain. For those of us with lofty dreams, the largest condos will go for close to $2 million, so there’s that. The Littlejohn Group (real estate consultants) and TJ Larsen should be able to move these things out the door, but I am curious to see how fast given the price point.
On the ground floor, 4,000(ish) sqft of retail will be entirely devoted to the arts. The ground floor space is being donated to the McColl Center for Art + Innovation, which is incredibly cool.
Why do you care?
If you are not interested in buying, you don’t really. It will be a good-looking addition to the skyline, but you will also be mad about you views from Fahrenheit being semi-blocked.
I will say the use of the space by McColl Center for Art + Innovation will be a solid addition to Uptown and its art scene. We need more art and places to buy it and it seems like this will be a perfect opportunity to give the community a huge boost.
If you are interested in buying, then you care because you are getting something that is top of the line. From the pool to the appliances, no expense is being spared to give residents an overly luxurious living environment. Unfortunately, they will have to contend with being surrounded by parking lots and the bus terminal for a while, but thinking long term, it’s outstanding.
When can you use it?
They are hoping for a ground breaking in Q1 of 2016 with completion in late 2017. I think this is very aggressive and I wouldn’t be surprised if this pushes into 2018.
Overall, this is a great project for the city. We need more condos (enough luxury apartments already, we get it), and any good-looking additions to the skyline are a good thing. It enhances our art scene and will (hopefully) jump start other developers into building more condos Uptown.
Photos via Elliot Roth and 1Brevard.
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