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TopGolf is basically a fancy bowling alley / social club. Competitive bowling has declined (like how playing real golf is on a downward slope), but social bowling remains popular. TopGolf and Drive Shack are really in the food and beverage business... the "golf" is just the hook to get people to come for birthdays, corporate events, Friday night hangouts, etc....
If they don't over saturate the market and build them like Starbucks, they should be fine as a business model. In about 15 years the facilities will need extensive and expensive renovations though to keep up with what is "modern" aesthetically as tastes change. Today's fixtures, TV's, bathrooms, etc... will look "so 2010's" as time moves on.
Golf is a declining sport, and I've been to a TopGolf here in Atlanta. I wouldn't be surprised to see some locations close in the future as the fad wanes.
I always assumed that top golf was meant to operate with zero/insignificant profits. Its really just a long term real estate play.
Step 1 - Buy cheap land and build at the edge of developing area.
Step 2 - Use brand and entertainment value to attract other office/retail/apartment development.
Step 3 - Own a large contiguous plot of land in the middle of a rapidly appreciating area.
Step 4 - Find a developer and sell.
I always assumed that top golf was meant to operate with zero/insignificant profits. Its really just a long term real estate play.
Step 1 - Buy cheap land and build at the edge of developing area.
Step 2 - Use brand and entertainment value to attract other office/retail/apartment development.
Step 3 - Own a large contiguous plot of land in the middle of a rapidly appreciating area.
Step 4 - Find a developer and sell.
That was McDonald's business model as well: operate a fast food business on ever increasing corner lots in growing American cities.
More development for the western side of downtown. Figured it would be good to just compile everything going on from the Warehouse District up to Peace and Glenwood.
TBJ reports that John Kane has met with the city on rezoning a parcel of land he owns across the train tracks south from Union Station. Currently zoned for 7 stories but his plans call for 20 stories of office on the side closest to the train tracks (blue) and then 7 stories for residential and retail on the rest of the property (yellow). No renderings yet other then a rough sketch.
Then more details have been released on the future RUSbus facility and BRT station the city wants across the street from the Dillon. A 20 story residential tower including limited affordable units, and a 20 story hotel. Raleigh Union Station Phase II: RUS Bus – Grant Application
An LA firm has submitted an “Administrative Alternative Review” for 213 South Harrington that is to be discussed by the appearance commission. Would be 20 stories of million dollar+ condos. Car elevators would be used from a company called “City Lifts” for parking which I thought was cool. No idea how accurate the rendering is but you will also notice an Apple logo on the bottom floor retail space. Indicating the direction most developers see this area going as high end retail area for downtown.
Other then that, Glenwood ave is seeing the completion of the One Glenwood near. With 10 story Two Glenwood and Two Hillsborough to start soon after. As well as the Origin Hotel and The Willard Condo/AC Marriot development.
And as was detailed in a few posts prior, the 3 phase Peace street development is moving along nicely. The Metropolitan apartments on Jones street are almost done as well.
And then finally even though I figured they were waiting on Amazons announcement, 400H mixed use tower is supposedly slated to break ground in 2019.
Though obviously some of these projects are a few years from completion at best I’m happy to see the direction things are going. This is a ton of infill and helps really extend downtowns density outside of the Fayetteville St. core.
TopGolf is basically a fancy bowling alley / social club. Competitive bowling has declined (like how playing real golf is on a downward slope), but social bowling remains popular. TopGolf and Drive Shack are really in the food and beverage business... the "golf" is just the hook to get people to come for birthdays, corporate events, Friday night hangouts, etc....
If they don't over saturate the market and build them like Starbucks, they should be fine as a business model. In about 15 years the facilities will need extensive and expensive renovations though to keep up with what is "modern" aesthetically as tastes change. Today's fixtures, TV's, bathrooms, etc... will look "so 2010's" as time moves on.
Exactly. Seems to be a successful business model so far. The golf will be secondary for some people.
In the past 20 years urban Charlotte has gone from a sleepy office park to a true urban center teeming with residents, workers and visitors. Everywhere you go, you’ll see cranes swinging material back and forth, orange barrels lining the streets, fences wrapped with renderings and workers in hard hats buzzing about.
Whether it be new restaurants, homes, stores, or the latest high rise, there’s always so much going on in Charlotte development that it gets a little hard to follow.
This is a guide to the most important projects currently under construction in Uptown and South End and why you should care about them.
FUTURE PROJECTS
It doesn’t end there. We’ll be keeping an eye out on the following future projects:
• Ally Center Hotel
• 401 South Graham
• Market 42
• Spectrum Office Towers
• Homewood Suites
• 500 South Tryon
• 550 South Tryon
• Ten Tryon
• Third & Baldwin
• Moxy Hotel
Charlotte has about all of the Marriott brands of hotel uptown that White lodding has but JW Marriott on the Marriott side.
On the Hyatt side it could be a Grand Hyatt or Hyatt Regency. Also A high end hotel to go over on Legacy Union site also.
Or it could be a brand that is not a Marriott or Hyatt brand.
Charlotte is getting some high end hotels now.
Ally Tower is under construction now and the hotel should start soon.
Exactly. Seems to be a successful business model so far. The golf will be secondary for some people.
Love golf and Top golf. Ok, Raleigh is starting to impress me more with recent and upcoming developments. Down there the other weekend...2x in one month from Durham for no particular reason, a record. Always liked Glenwood. Still needs a bit more glitz...maybe that's just around the corner.
Edit: On the real tip though, both Raleigh (Durham/Chapel Hill) and Charlotte are doing things I'd never thought possible in NC 30 years ago. Toss in Wilmington, Asheville...mix in the Triad...we got one helluva state no matter what the trolls say.
Charlotte has about all of the Marriott brands of hotel uptown that White lodding has but JW Marriott on the Marriott side.
On the Hyatt side it could be a Grand Hyatt or Hyatt Regency. Also A high end hotel to go over on Legacy Union site also.
Or it could be a brand that is not a Marriott or Hyatt brand.
Charlotte is getting some high end hotels now.
Ally Tower is under construction now and the hotel should start soon.
I wonder if Ally Financial has a preferred hotel partner/chain and if that would be a factor in the flag that opens at the Ally Charlotte Center complex.
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