While construction at its competitors for “Tallest Condo Tower in Charlotte” remains stalled, The Vue in Fourth Ward recently began vertical construction.
Scheduled to open in late summer or early fall 2010, the 50-story tower hasn't seen construction slow much.
The 210 Trade tower – planned to have 50-plus stories at EpiCentre – is mired in lawsuits between the developer and contractor. The development of One Charlotte and 300 South Tryon, two other condo towers, has also been postponed.
The Vue, which has a $275 million-plus price tag, will sit on 1.5 acres at Fifth and Pine streets across from the Uptown Harris Teeter, with unit prices ranging from the $200s to $4 million.
Despite an opening at least two years away, Maier said 60 percent of the planned 409 units have already sold.
The Millennium South End
In recent months, work has begun to speed along on The Millennium South End, a new apartment building at South Tryon and Bland streets.
The project, being developed by The Dinerstein Cos., will include 269 apartments. Most will be one or two bedrooms, although some three-bedroom units will be available, company spokesman Brian Dinerstein said.
Why apartments instead of condos or townhomes?
“This project was always envisioned as apartments for a young, mobile work force,” Dinerstein said.
“Apartments make more sense than condos do everywhere right now, anyway. A big issue is a buyer's ability to obtain financing. That's not an issue with apartments.”
Apartments will range from 725 to 1,250 square feet for one- and two-bedroom units.
Leases at Millennium will range from $1,100 to $2,300 a month, with an average around $1,500 a month.
The project is expected to be complete by the first quarter of 2010.