You’ve all heard the competing stories. The tug of war with facts and opinions. Even with countless editorials published, criticisms, and informed suggestions, some council members still seem to be in their own world.
And we’re linking to the Observer story here because it makes some important statements.
I don’t know about you, but aren’t we tired of having our attention diverted away from what is really important? Personally, I will not forget one of the worst votes in Charlotte City Council recent history: The recission of support for the I-77 improvements. And you shouldn’t either. Opponents of the project can cite the number of real people that would have been displaced and the parks that would have been removed, but leadership decisions are HARD. Now, the number of real people faced with quality of life as well as economic consequences is a far greater statistic of shame. A generation has now been sidelined; their success and opportunity traded for short-term relief and political impulse. In the short time it took to make a motion and hold a vote, more than a decade of work evaporated. The conversations about potential changes and improvements to the plan came to an end that very instant.
With that said, let’s revisit our current state of affairs.
While conducting a public meeting yesterday to interview potential interim mayoral candidates, using the event to declare their commitment to what they stated as ‘transparency,’ the forum seemed more like grandstanding rather than genuflection. As has become the custom, the usual cadence of ineffectiveness appeared early with 45 minutes of time wasted to relitigate the process for filling the seat, a decision this same council had ALREADY made and affirmed by a vote just days ago. If transparency was the goal, why not vocally share what they believe Charlotte needs in a new leader; a city that is soon to be the 13th most populated city in the country? Why not seek to appoint a stabilizing force who possesses the best interests of the WHOLE community? We need someone that knows how to govern and run a city, not an activist whose actions and decisions are governed by a narrow view.
Moving back to the I-77 expansion rescission. It’s amazing to me the divide in perspective on this. Opponents were successful in stopping the project, but with that decision comes a consequence. And that is the massive fallout for not leading with vision or with an understanding of the bigger, legislative, fiscal, and economic picture. Senator Vickie Sawyer makes a sound point in her push for repayment of the funds previously invested by the state. The North Carolina Department of Transportation (NCDOT) spent about $60 million to do initial engineering work on a project that was publicly endorsed, multiple times by the City of Charlotte and the Charlotte Regional Transportation Planning Organization (CRTPO) over the course of several years.
We also learned firsthand recently from state leaders that the wolves are circling the camp for the money we’ve abandoned. However, the municipalities who shifted their votes to kill the expansion during the CRTPO meeting several weeks ago, thinking the funds may now be available for projects in their jurisdictions, woke up to the reality that they may have a role in repayment as well. Any future NCDOT projects could require these municipalities to pay their share of the $60 million before work on future projects can proceed. That’s called a consequence.
As we wrap up, I want to point out that at the end of the Observer article, Councilmember Watlington says she hopes for better collaboration if everyone can be “adults.” The irony in that statement leaves me somewhat stunned. It was the City Council that picked up its toys and went home and then brought CRTPO along for the ride with a willing and eager participant in the Mayor of Matthews and his merry band who appear to be fueled by spite. Now the narrative is that the big bad state is reinserting itself where it doesn’t belong. Exhausting.
My Take: For a brief moment last night, I experienced uncomplicated, sheer joy. I watched as my 8-year old daughter and her swim relay team edged out the competition with an individual medley race victory, winning by less than a second. It was well after 9:00 pm and I literally jumped for joy. (O.K. Jump is a strong word. I don’t get off the ground like I used to. Let’s call it an excited hop.) It’s small moments like these that I store away for further contemplation as I consider the current state of our city. Here’s my thought on one way we can refocus our efforts to producing a better outcome.My recommendation? Move our energies to 74/Independence. We ought to expand it on the growing east side and reconfigure it into an actual highway from I-277 all the way to I-485. Creating a relief valve for those wanting to get through and around Charlotte and taking pressure off of I-77. In this case, as is always the case with expansion, many businesses will need to be relocated or could face removal. But there is always a silver lining because this could also spur economic development opportunities for the east side which are desperately needed.Finally, to repeat a quote offered by NC Treasurer Brad Briner at one of our recent events, “Transparency isn’t everything…accountability is where transparency meets results.” Hey, council. Let’s try that from now on.
Charlotte’s commercial real estate (CRE) market stands out for its dramatic “tale of two markets” and intense Sun Belt growth, ranking as the 5th most targeted CRE market in North America. Driven by a booming corporate presence and massive daily population influx, the city operates much differently than stagnant or legacy urban markets.
“Flight to Quality” Office Disparity: While older, suburban, and commodity office spaces struggle, Class A properties—especially new builds in Uptown, South End, and Ballantyne—are thriving. Rents are holding firm due to the massive influx of corporate expansions from major financial and auto sectors.
Suburban Decentralization: Unlike denser historical cities, Charlotte’s CRE boom is highly decentralized. Neighborhoods like South End and Ballantyne function as major corporate and retail hubs, often out-pricing or out-performing the traditional Uptown center city.
Investment Returns: Charlotte properties command higher cap rates and typically yield stable 7–12% returns, benefiting from the region’s steady diversification and rapid demographic growth.
ON WFAE Charlotte Talks, the latest episode features guests Ashley Fahey, managing editor of The Charlotte Ledger. And Peter Grant, commercial real estate reporter at The Wall Street Journal. It posits the market based on opinions that are solid and some speculative, but all worth a listen.
My Take: We shared this article on the heels of a story featuring Mark Vitner a couple weeks ago. So why elevate the news of commercial data with the same energy as we work to advance policy that opens housing supply? Because we cannot forget the fact that commercial success and residential success are inextricably interwoven. It’s one of the reasons that our voice of advocacy is so powerful. And vital to our ability to CHAMPION PROSPERITY.
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