Condo developer plans
affordable units near arts district, rail stop
DOUG SMITH
Two of the most recognizable names in Charlotte
condo development are teaming for the first time to do an edgy project
about five blocks from the heart of NoDa.
Ray "Rip" Farris III of Tuscan Development
plans to start preparing a site at 36th Street and Wesley Avenue in two
weeks for NoDa18, six penthouses and 12 townhouses designed by David
Furman's architectural firm.
Furman, whose Boulevard Centro also develops condos,
said he accepts third-party design work "for people who have a
mission similar to ours."
Farris fits in that category.
"He wants to do unique projects in areas that
are urban in context," Furman said. "He likes to use his
projects as a catalyst for developing and revitalizing
neighborhoods."
NoDa18 is within walking distance of the North
Davidson-East 36th Street intersection, the focal point of the former mill
village's resurgence.
The revitalization movement was led by actors,
dancers and artists, who reclaimed old houses and helped create a trendy
arts district. In recent years, office and apartment developers have
joined in.
"There's just so much creative energy in that
neighborhood, and it started grass roots," Farris said.
In the spirit of the revitalization pioneers, NoDa18
will be offbeat, with tall windows, corrugated metal panels and masonry on
the exterior, and open, airy spaces inside.
Furman's Alexander Court at East 10th and North
Alexander streets in First Ward's Garden District is similar in scale and
design to three-story NoDa18, said Steve Barton of David Furman
Architecture.
Alexander Court's red balconies and trim are
unusual, but perhaps not as funky as NoDa18's exterior, which will have a
slightly industrial look, he said.
NoDa18 will face 36th Street and wrap around the
Wesley corner with an architectural tower. A garden and parking spaces
will be in the rear. Soft light in varied colors will bathe the building
at night.
Farris said 850- to 900-square-foot units are
selling for $125,000 to $140,000, a range he believes will appeal to
buyers earning $32,000 a year or more.
The $2.8 million development is within a light-rail
transit corridor, so residents someday will be able to walk five blocks to
a station, he said.
The neighborhood traces its roots to the early 1900s
when homes and businesses sprang up around the Highland Manufacturing Co.
New businesses and churches flocked to the area, served in those days by a
trolley.
In recent years, NoDa's popularity has attracted
apartment and condo developers, pushing home prices much higher than the
$20,000 that many urban pioneers were paying in the 1970s.
Catherine Browning of First Charlotte Properties,
which is handling NoDa18 sales, said 14 residential properties sold in
NoDa in 1999 at an average price of $102,000. From June 2003 through June
2004, she said, 39 sold at an average of $134,000.
Tuscan Development, owned by Farris and business
partner Martin Kerr, expects to complete NoDa18 by mid-summer 2005.
Farris said construction on the 0.8-acre site will
start when half the units are sold. Structura, a general contracting firm
owned by Farris and Kerr and managed by Kerr, will build it.