Just the facts about Lake Norman, Relocating? Life in Lake Norman

Lake Norman Area Wins Top Honors for Economic Development and Donald Trump wants to Make Lake Norman “Magical”!!

 

 

For the 6th time in 8 years, Mooresville-Statesville was named top Microplitan area by Site Magazine thanks to nearly doubling the number of economic development projects in 2011!  And, Governor Perdue recently announced that our state of North Carolina has risen to 4th place for states based upon the number of new and expanded corporate facilities also by Site Magazine.  Both local and state officials say that these awards are evidence of our business-friendly climate.

More evidence of the health of our future ecomony came from a recent Penkse Truck Rental press release that ranked Charlotte in the top 10 of one-way truck rental destinations in the US.

Now, if this isn’t enough evidence of our strong local ecomonic future, guess what “The Donald” said about the Lake Norman area when interviewed recently about his interest in buying The Point Lake and Golf Club  and asked why he targeted the Lake Norman area?

“North Carolina and the Lake Norman Market in particular are a much safer investment than some of the higher-profile resort locations teeming with speculative and unproven markets” according to a recent Business Today article entitled: Trump says Lake Norman market is big draw….Market ‘stable, well occupied’. 

In fact, while in town for his meeting this week with members of The Point Lake and Golf Club in Mooresville, Trump went on to say to the Charlotte Observer:

“We love this piece of land, the lake, the tremendous lake…The views from the (golf) course are magnificent…I think Charlotte has a great future.  I think the whole area is great.  The people, the energy.  That’s why we’re going to be doing this deal…I think we can bring that course to the next level…It will be a magical place.”

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lake norman real estate

A glimpse into post-recession Lake Norman real estate

With more and more frequency I am being asked by potential Lake Norman home buyers about the future expectations and direction of our local economy.  Are Lake Norman, Charlotte and even the State of North Carolina seen as a good place to invest in the long term?  Where are our local and regional economies headed?

The good news is that this is indeed the silver lining for our Lake Norman real estate market during this economic downturn.  Lake Norman communities, Charlotte and North Carolina are all predicted to be popular destinations for future businesses and to experience continual population growth in the years to come.  I base this on a number of recent articles from a variety of sources as well as my own observations over the past 6 years.   Here are some of the most relevant about Charlotte and North Carolina and some older articles I have written about Lake Norman growth and development that are still relevant: Continue reading

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lake norman real estate

Lake Norman Real Estate: Growth and Development is Happening! Part 1

Lake Norman new home construction

 When I first started writing this blog in 2007 the Charlotte Observer used to have a regular column in the Lake Norman section called “Red Dirt Alert” which provided updates on the myriad and different types of developments in planning and under construction in the greater Lake Norman area.  Today, not only is the  “Red Dirt Alert” column gone, but the entire Lake Norman Section has been eliminated.  And, of course,  most high profile growth and development has been significantly impacted by the recession.

The big news this week that the 755,000 square foot, vacant Burlington Mills plant in Mooresville on South Main, (at one time was to be the site of the Mooresville Mills Urban Village whose plans collapsed) , was purchased by Concord Global Trading of New York, served as a reminder that despite some major set backs, there many new and continuing/progressing developments in our Lake Norman area.

Here is Part 1 of an overview of our Lake Norman area’s recent growth, some of which will serve as updates of my prior articles:  Lake Norman Real Estate’s Growth and Development UpdateLake Norman Real Estate’s News Update March 2009 , Lake Norman Growth and Developement Update October 2007.

  • Mooresville’s Burlington Mills’s new owner, Concord Global Trading, purchased the 38-acre site in December and has already started work on their Furniture Emporium called “Wow Home Furnishings”.  The store is expected to “Sell Furniture and Home Decor with an International Flair…” according to an article on the Mooresville Mill Village website.  Their target date for opening is May of this year.   What a boon this will be for Mooresville, especially the Historic Downtown Mooresville area!   UPDATE:  This is now Merino Furniture!
  • The long vacant “Pink Palace Theater ” in Cornelius off of Catawba Blvd. has been purchased by a California Entrepeneur, Levy Affiliated Holdings.  Already under renovation, this site will include the new “Lake Norman Cultural Arts Center”  which will feature a 400-seat entertainment venue, music school, and possibly a dance studio and New York Theatrical production company.  “The use envisioned for the rear of the building is focused around cultural arts, with offices for such uses as film production and a recording studio, and the front use will focus on retailers and a restaurant and bar…”according to Business Today.  Pretty exciting!
  • Brawley School Road Widening Update: The State of North Carolina has awarded a $22.6 million contract to complete the widening of Brawley School Road AND build an Exit 35 interchange.  As many of us know, the first section of the widening project is about 25% complete and is expected to be completed in July of 2011.  The final section and interchange is scheduled to be finished in July of 2013.  They have already started clearing the area where the new Exit 35 will be built!  Note, we are all a bit frustrated that construction of phase one came to a screeching halt during the holidays.  There was some activity this week so hopefully they will resume full-time next week.
  • There has been some very positive growth at the new, upscale Mooresville Town Square  located at the corner of Brawley School and Williamson Rd including the opening of  Wine Maestro, the NY Bagel Co and the nearly completed Lowe’s Foods which is opening this week (January 20th).
  • Across the street on Brawley School Rd the new Rite Aid in the Harris Teeter Shopping Center is coming along.  Also new to that shopping center is a Mexican Restaurant Cuzomel that just opened.  I haven’t been there yet but will report back!
  • At the new  Mayhew Promenade Shopping Center at Stutts Road the lovely Bloom Market,  Walgreens, McDonalds, and Shoals Saloon and Grille  restaurant are now open!
  • The newest Mooresville Harris Teeter Shopping Center at the corner of Highway 150 and Perth Road has some great new shops and restaurants including  3 Goats Coffee,  The Wine Loft and another new Rite Aid.
  • The Project for innovation, Energy and Sustainability (PiES)is a new business incubator that has been launched in Davidson with a goal to nurture new enterprises and jobs.  Founder Kathleen Rose said “PiES encourages education, incubation, and “economic gardening
  • The widening of Catawba Blvd. in Cornelius is complete as is our new Exit 31 in Mooresville at Langtree Road!

Part 2 will include updates on our largest and long-term developments:

  • Langtree at the Lake
  • Legacy Village
  • Augustee/Village at Lake Norman
  • Exit 42
  • North Carolina Research Center
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Lake Norman News, Events and Celebrations, Relocating? Life in Lake Norman

Brawley School Road Widening to Include Bike Lanes and Grass Median

Lake Norman's Brawley School Rd. Widening Project Sign

 FOR THE LATEST UPDATE GO TO: Brawley School Road Update May 2011

Those of us who live down Lake Norman’s infamous Brawley School peninsula know only too well that construction is well under way on the two-year widening project.  The large, orange sign “warning, expect delays”  blinks at us daily although by now we pretty much know what to expect.

One of my fellow Brawley School friends/clients asked me at lunch yesterday whether I had seen any renderings of the completed project and details as to whether there would be bike lanes, landscaping and other details which I hadn’t.

So, today I made full use of Google and uncovered some fairly well-hidden information on the North Carolina Department of Transportation’s website  and contacted John R Cook, Resident Engineer, Statesville Construction who provided some prompt and exciting information as well.

Here are the Brawley School Road Widening Project Highlights:

  • Widen to four lanes with a median south of Southfork Rd to Talbert Rd
  • Sidewalks will be built on both sides
  • Sharp curves will be straighten (We can see this just from the grading that has already taken place)
  • The median will prohibit left turns into and out of individual properties along the project

The Design and Public Hearing Maps are available from this website as PDF files so you can see in great detail what the process will involve and what the end product will look like in 2011.

Mr. Cook, in response to my inquiry, provided unexpectedly good news:

  • There will be bike lanes!!!  (This is such great news.  Finally we will have safe cycling in our community!)
  • The median will be grass.  There are no details yet regarding landscaping.

If you would like more information, John R. Cook can be reached at #707.876.3543.

Short term, it is a bit of a pain in the neck but the end result is going to be well worth it!

RELATED ARTICLES

Lake Norman Real Estate: The McKendree Road Neighborhoods

The Silent Majority of Lake Norman Real Estate

Relocating to Mooresville Lake Norman; Subdivision or No Subdivision?

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lake norman real estate

Lake Norman Real Estate’s Growth and Development Update

Lake Norman Construction site

It has been a while since I have written any news related to our greater Lake Norman developments because, quite frankly, most of the exciting projects I have written about have been stalled for the past year due to the national economic downturn.

However, some large and small developments are moving forward.  Here is an update on these:

Four Points Sheraton:  Construction is expected to begin very soon at Exit 28.  The Four Points Sheraton is expected to have about 2,200 square feet of meeting space.

Langtree at the Lake:  While delayed for about a year, Langtree at the Lake developer Rich Howard says he plans to start construction in the coming months.  Also, the Missouri based John Q Hammonds recently announced a 12-story 300 room Embassy Suites will break ground later this summer or early fall and is expected to be completed by early 2011.  It will have a 75,000 square feet conference center which is something our Lake Norman area has needed for quite some time!  Langtree at the Lake.

Augustalee:  Once called the Village at lake Norman, the Augustaleeis a $515 million mixed-use development at I-77 and Westmoreland Rd (at a new Exit 27) which will include The Grand Hotel, a 250 room, 10-story building featuring ballrooms, conference facilities, a full service restaurant as well as a boutique hotel with 100 rooms and retail on the first floor.

Cornelius One: This three-story mixed-use project located at 18615 West Catawba in Cornelius will include a restaurant and retail on the first floor and offices on the second and third floors.  Developer Kenny Habul is awaiting rezoning approval.

The Widening of West Catawba Blvd:  While those of us are watching the progress of the widening of  Brawley School Road which is slated for completion in 2011, the widening of West Catawba Blvd will be completed in the next 60 days!  Simonini’s The Preserve at Robbins Park that I have written about previously is also making progress.  Once completed, Catawba Blvd will be fully landscaped and according to Commissioner Dave Gilroy, will be “simply gorgeous”!

New Exit 31:  Our new Exit 31 is expected to open this summer!

Courtyard by Marriott and a Holiday Inn Express:  Both of these hotels in Statesville are due to open this month!

TownPlace Suites by Marriot:  Located off of Exit 33 in Mooresville, this hotel is scheduled to open in October of this year.

Larkin:  I first wrote about this massive multi-use development project just south of Statesville about two years when it was ramping up to high gear.  There was great excitement and property around Exit 45 was scooped up by potential investors and developers.  The site has been annexed by the City of Statesville and and some of  the plans have already been approved by the Statesville City Council.   According to the Statesville Record and Landmark, since then “nothing of any substance has been done with the site.”  “I honestly believe that Larkin will happen” said City Manager Rob Hites.  “But it’s really hard to say right now when it will happen.”

Equestrian Subdivision in Mooresville:  NASCAR race car driver Jeremy Mayfield’s former home located at 3245  Jackson Rd in Mooresville was purchased by Ron LeGrand who has teamed up with Sill Creek Team and developer Urchel Hill to launch a 73-home equestrian subdivision on 135 acres.  While the land is currently empty, developers have already put in the road and other community amenities and are optimistic about its future.

The Club at Westport:  I recently wrote a separate blog post about the opening of the Club at Westport and the new residential plans for the rest of the development in Denver on the west side of Lake Norman.

Lake Norman’s new community sailing and rowing is open!: After years of work, the North Carolina Community Sailing and Rowing Center is now open.  Located at Huntersville’s Blythe Landing Park,  this facility is truly for anyone interested in learning to sail or  row, from Senior citizens to the disabled to our youth.  A non-profit organization and its volunteers operate the center in partnership with the Mecklenburg County Parks and Recreation.

It is interesting to look back several years and read news articles and my old blog posts focused on building moratoriums and smart growth plans.  Our national recession has actually provided our fast-growing Lake Norman communities the time to take a deep breath and prepare for the future growth that is sure to return once our economy has stabilized.

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A Sneak Preview of The Club in Westport, Denver NC

The Preserve at Robbins Park:  Not Just Another Housing Development

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Lake Norman News, Events and Celebrations

Lake Norman Real Estate: News

 

One of the advantages of being a REALTOR is that I am constantly driving around, networking and reading so I am able to observe and hear about what’s happening and monitor the progress of our Lake Norman growth and development.  Here are a few updates I thought I should share:

Langtree at the Lake has gotten approval from the Mooresville  Town Commissioners to use a new form of bond financing for their portion of the public improvements required for this $800 million resort development.  There will be several public hearings and more details to follow.  What is important is to see that Langtree at the Lake is still progressing despite the economic slowdown.

Speaking of Langtree, the new traffic circle for the nearly completed Exit 32 is complete.  And, the progress at Exit 32 is significant. This is a photo of the new traffic circle at Alcove and Langtree Roads.

The widening of Brawley School Road is progressing nicely.  Here is a photo taken near where the widening begins at Chuckwood.  So far the utilities have been moved, all trees and structures have been removed, and the drainage systems are just about completed.  As you can see, the grading has also begun!

Meanwhile, our drought has not completely disappeared thanks to a lesser than normal amount of rain this past winter.  Lake Norman is in the yellow which is “abnormally dry”.  White means no dry conditions.  They only update these maps on Thursdays so I am hoping this past storm will improve our drought classification!

According to an article in the Charlotte Observer on March 26th, The Charlotte Region is going to get $12.6 million for energy projects from the stimulus funds for energy efficiency and conservation projects.  Details can be found at the EECBG Website.

North Carolina was given almost $208 million for weatherization and other energy programs according to the same Charlotte Observer article. “The weatherization program rebates as much as $6500 in upgrades to qualified homeowners who add insulation, seal leaks and install more efficient HVAC systems.”  To apply go to the APPSI.EERE.ENERGY website.  (I will be writing separately about energy audits and all of the financing and incentives available for energy efficiency upgrades/updates).

Finally, conforming loan interest rates have reacted favorably to The Federal Reserve’s announcements on March 18th regarding buying Treasury securities and increasing their purchases of mortgage and agency debt.  Today I got word from one lender that they are at 4.75%!

Look for my first quarter Lake Norman Real Estate Sales Analysis and Market Report later this week.

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman News, Events and Celebrations, lake norman real estate

Lake Norman Real Estate: Wow, A lot of good news!

Mooresville Race City USA

At my Exchange Club luncheon today our guest speaker was Karen Shore the Executive Director for the Mooresville Chamber of Commerce.  I have known about some of what she shared with us but she confirmed that yes, there is some truly good economic news to share about the greater Mooresville/Lake Norman communities!

  • Mooresville-Statesville was just chosen as the #1 Micropolitan in the entire US for 2008 by Site Selection Magazine’s  March 2009 edition! “In 2008, companies made 17 announcements to either expand or build a new facility in the Statesville-Mooresville Micropolitan Area, according to the Conway Data New Plant Database, the official corporate facility tracking service of Site Selection magazine.”  This places us a #1 out of 700 micropolitan areas designated by the U.S. Census Bureau.  “A micro area is a largely rural economy that includes a city of at least 10,000 people but less than 50,000 and covers at least one county.”  Reasons for businesses to move were “competitive business costs, low taxe rates and skilled workforce”.  Mooresville accounted for 12 of the 17 deals!
  • Today’s Charlotte Observer article by Joe Marsuk announced that “John Q Hammons Hotels & Resorts plans to begin construction this year on a 300-room, 12-story Embassy Suites hotel and 75,000 square-foot convention center off Interstate 77’s Exit 32″!  Construction is expected to begin in late summer and last about 16-18 months.
  • On Monday, Mooresville Commissioners finally approved a 100-acre sports complex at Mezzepa Road Park which will include 6 soccer fields, 4 baseball diamonds, walking trails and a playground.
  • In February,Business Week  ranked our Lake Norman town of Cornelius the 7th “Best Affordable Suburbs 2009” in the entire country and 1st in North Carolina!  Consideration was given to livability, short commutes, low pollution, amount of green space, job growth, crime rates, weather, household income, education levels and quality of schools.  Cities had to be within 25 miles of one of the nations most populous cities so any of our towns north of Cornelius would have been to far from Charlotte to be considered.
  • Forbes recently ranked Charlotte as the 4th best housing market in the country!
  • Today’s home mortgage rates in our area dropped to 4.875% for a 30-year fixed home loan.

At a time when it can be down right painful to watch/read our national news, it is truly great to have so much positive news to share with you.  Clearly, while our Lake Norman real estate housing market is struggling right now, there is a bright future.  If the businesses are coming, so too will the demand for housing return.  Unlike many cities in our country which are loosing significant jobs, we will return to our role as a popular destination!

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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