1st CHARLOTTE SOM COMIN' SOON!
|Ned Curran acknowledges being cautious about today's market. Maybe it's his CPA background. But as prez and CEO of The Bissell Cos, Ned tells us he's still ready to take risks, including adding as many as 600 residential units to Ballantyne Corporate Park, which until now has been an office development known for such industry names as Mitsubishi, Lending Tree, and ESPN.|
After more than 30 years in CRE, Ned is in charge of a company that seems to be one of the few outfits with new major projects making it off the drawing boards. Bissell just recently announced plans for a $100M pair of office towers in Ballantyne, Bissell's primary playing field. Bissell also has a rezoning pending that would expand Ballantyne Corporate Park?s office portfolio by more than 1M SF, add 300 hotel rooms and a new multifamily residential component. ?Our original layout for the Corporate Park did not envision residential,? says Ned, whom we snapped at a recent press conference. ?But we felt it will improve the whole live-work-play-stay environment.? Ned will be among Bisnow?s panel of experts at the July 15 Charlotte State of the Market event at the Charlotte Westin Hotel. Don't hesitate to register now! Great schmoozing, too.
Admittedly, developers need more cash in hand when looking for a construction loan than in times past, says Cindy Wolfe, who led Bank of the Ozarks? entry into the Charlotte market 10 years ago. Cindy, a BOTO EVP, will also be one of Bisnow?s all-star panelists at the upcoming (and did we mention first ever) Charlotte State of the Market business forum July 15 at the Westin Charlotte. Cindy says BOTO has always been relatively conservative and avoided many of the pitfalls other lenders ran into just before the market crashed. Her group is able to lend up to $50M for various types of development and construction projects. But she tells us the borrower has to bring a good bit to the table before getting loan approval. What's a good bit? ?We get that question a lot, and the answer is, it depends,? Cindy says. (But feel free to ask again when you meet her on July 15.) Those seeking a loan from BOTO have to demonstrate a measure of financial strength to overcome ?any hiccups.? Cindy will be sharing other thoughts at our upcoming, can't-miss Bisnowevent. Register today.