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Editors, Charlotte Magazine Real Estate Roundup .

 Friday, December 7, 2001

Coffee, pizza and loft projects all go for NoDa

Despite sluggish economy elsewhere, area sees renewal

By DOUG SMITH

The Smelly Cat Coffeehouse expects to open within 30 days at a building being remodeled on East 36th Street across from the Neighborhood Theatre in the North Davidson Arts District.

On the same block, workers are pushing to complete conversion by early summer of a big two-story house into a Mellow Mushroom pizza restaurant with an upstairs bar and outdoor deck.

And just around the corner on North Davidson, Gateway Homes is taking the first steps toward creating a new "artists' colony" in 25 townhomes and nine lofts. Prices start at $90,000 for roughly 1,000 square feet with a one-car garage.

Doug Levin, president of Gateway Homes, developer of The Colony Lofts, said the company wants to offer affordable housing and 7,000 to 8,000 square feet of leased retail space to attract more artists and entertainers to the trendy arts district around North Davidson and East 36th.

While the sluggish economy is stalling projects in other parts of Mecklenburg County, NoDa seems to be seeing a renewal of the energy that triggered its comeback more than 15 years ago.

Some real estate experts see parallels between the emergence of the galleries, restaurants, shops and entertainment venues in North Charlotte and South End's revival as a vibrant commercial district along South Boulevard south of uptown.

Both areas evolved from early 1900s mill-village roots, and both are relying on restoration as a hook to rekindle interest.

Lines form outside Boudreaux's Louisiana style restaurant on weekends when visitors are attending gallery crawls in the neighborhood and events at the renovated theater next door on 36th Street.

And new arrival Cabo Fish Taco has introduced "southwest with a coastal twist" in the historic Hand Pharmacy building on North Davidson.

Levin said he and partner Dave Ransenberg, veteran suburban residential developers, chose NoDa because land prices were more affordable than South End and because they would be getting in early enough to influence the neighborhood's direction.

To make sure the old house now under renovation at 36th and Davidson was preserved, Levin bought it and held it until "the right tenant for the neighborhood" - Mellow Mushroom - bought it for $380,000.

He also has purchased and renovated old mill houses for renovation and resale.

At The Colony Lofts, he said, "We don't sell to investors. We want them to be owner-occupied. We realize how important each residential unit is to the neighborhood."

The project is within two blocks of the center of NoDa. To make sure it is pedestrian-connected, Levin said, Gateway Homes is paying to complete a sidewalk along Davidson Street.

Site work is under way on the 3-acre parcel, and construction of the first units in the $3.8 million project could start as early as next week. The two-story buildings will mimic the old business district's architecture.

Levin wants to attract galleries and arts-and-crafts related stores to the ground-level retail, where he will lease 750 square feet for about $400 a month only to tenants who contribute to the artsy fabric of the neighborhood.

He plans to continue the pedestrian connection with The Renaissance, a project of more than 200 townhomes covering nearly 14 acres on the next block north.

Gateway anticipates starting The Renaissance, which also will offer 18,000 to 20,000 square feet of retail, by mid-2002. Its 13- to 14-acre site will include a pool and nature trails. You can see all the plans at www.liveinnoda.com.

The opposite end of North Davidson between Mallory and 33rd streets also is changing. Winter Properties is restoring the 97-year-old Highland Park Mill No. 3, which will include a mix of offices, art-related businesses, restaurants and entertainment.

Jim McCurry of McCurry Properties said he has started marketing the first 75,000 square feet of commercial space for lease. And Bob Silverman, chairman of the Winter Group of Companies, said construction could start early next year on 91 rental lofts, where tenants can live and work.

"The economy delayed things six to nine months for us," he said, "but we are going to be in that neighborhood for a long time."

 

 

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