The best policies for economic growth focus not only on recruiting new business, but also on retaining and growing existing businesses, Charlotte Mayor Pro Tem Michael Barnes tells us. Hear more from Michael about the city's dynamic growth (and the retention efforts) at Bisnow's 5th Annual Charlotte State of the Market at 7:30am on April 20 at the Omni Charlotte Hotel.
Local companies need the right conditions to take root and grow, Michael adds, noting that City government can help them become more resilient through a careful mix of sustainability policies, inclusion policies, physical development, and environmental protection. "The perception of how we take care of what we already have is also the best way to recruit others to our community,” he says.
Wells Fargo SVP-real estate division John Saclarides, who will be one of our speakers, tells us that job growth, corporate operations and demand for commercial space will all be expanding in the Charlotte market in the next 12 to 24 months. "Job growth comes first, which powers growth in commercial operations, which powers demand for space," he notes. Happily, that paradigm is still in motion in Charlotte.
Spectrum Properties Residential president Stephen McClure, who will also be a speaker, tells us the Charlotte apartment market's nearing the inflection point in some submarkets, but as a whole is still strong and has a good long-term outlook. "Even though we're set to see a large number of units delivered in 2015, I believe there are still deals worth doing, though they're getting harder and harder to find," he says.
"Charlotte continues to have three key factors that help drive the growth in our apartment stock: strong demographics, quality jobs and great urban areas," Stephen says. Spectrum is nearly complete with The Mint, a 177-unit apartment complex in Uptown near BB&T BallPark, on the site of a former branch of the US Mint. It will also break ground late this summer on 65 apartment units near Park Road Shopping Center. Join us at Bisnow's 5th Annual Charlotte State of the Market at 7:30am on April 20 at the Omni Charlotte Hotel. (Sign up here.)
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