North Carolina development thread. (Charlotte, Wilmington: deposits, pier, owning)
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BoA won't give up having the tallest building. If someone builds a 1,000 footer. BoA will find a way to build at 1,200+. Major win for the Charlotte skyline.
No way. BofA isn’t as Charlotte as it used to be. Moynihan lives in Boston. And those days are over. 2008 fundamentally changed businesses. Particularly, the banks have new regulations that require them to have so much liquidity. BofA will build a tower if there’s a business need.
Who knows what the next office town will be. When BOA HQ was built, there was an agreement on how tall it could be,because of the airport near by.
Charlotte Douglas International Airport is planning to add a fourth runway and dozens of new gates, according to expansion plans that the airport will present to the City Council on Monday. With the new present 4th parallel the run will gone so there will not be any guilds paths over uptown. There will be 3 runway west of the terminal and 2 runways east of the terminal.
The airport has long considered adding a new parallel runway to allow more simultaneous takeoffs and landings. The new gates would accommodate forecasts for continued passenger growth.
Here are key points of the airport’s expansion plans:
• Nearly doubling the number of gates, from the current 93 to 164. Charlotte Douglas plans to begin construction soon on 8 to 12
As far as a new tallest, I do not see a 1,000 feet tower in uptown Charlotte anytime soon. I want say never, but not in my life time.
No way. BofA isn’t as Charlotte as it used to be. Moynihan lives in Boston. And those days are over. 2008 fundamentally changed businesses. Particularly, the banks have new regulations that require them to have so much liquidity. BofA will build a tower if there’s a business need.
There is still obviously somewhat of a competition between the banks in Charlotte to have the biggest building. Bank of America is continually building towers with their name on it in Charlotte, so the argument that it isn’t “as Charlotte as it used to be” is illogical.
There is still obviously somewhat of a competition between the banks in Charlotte to have the biggest building. Bank of America is continually building towers with their name on it in Charlotte, so the argument that it isn’t “as Charlotte as it used to be” is illogical.
It’s actually fact and logical. There are less Charlotte senior execs, including the CEO, than it used to be. Moynihan doesn’t have the civic drive that McColl. In fact, I’m pretty sure local media has written articles before on why we can’t count on BofA and Wells Fargo to lead Charlotte as well as we used to because the senior execs were less Charlotte and that it was up to local officials to have more visionary and leadership of where the city is going.
And I just have to disagree about competitions between the banks in CLT to make taller buildings. This will be BofA’s first building with its name on it in CLT, I think.
Really, Charlotte has had less bank buildings with their name on it than most cities. But there too is logic behind that. The new BofA Tower will Be for client facing positions. It’s their customer facing building. Therefore it makes sense they would want their name on the tower. Now for Ally, Regions, Barings — they just want their name out there for advertising. Wells and BofA don’t need to do that.
And lastly, I would say in any event - as I say to some triangle posters and others in general - Towers are built - and only built - because there is a need. No other reason. Even if it were for prestige or whatever, financing is much more strict these days. Construction cost are getting high because there’s a lot of need for construction workers. So many factors where they’re not going to build a bigger tower for the sake of it.
It’s actually fact and logical. There are less Charlotte senior execs, including the CEO, than it used to be. Moynihan doesn’t have the civic drive that McColl. In fact, I’m pretty sure local media has written articles before on why we can’t count on BofA and Wells Fargo to lead Charlotte as well as we used to because the senior execs were less Charlotte and that it was up to local officials to have more visionary and leadership of where the city is going.
Where executives and CEOs live is irrelevant, Bank of America is just as significant in Charlotte today as it was in 1989 when their headquarters began construction.
Quote:
Originally Posted by Charlotte485
And I just have to disagree about competitions between the banks in CLT to make taller buildings. This will be BofA’s first building with its name on it in CLT, I think.
Really, Charlotte has had less bank buildings with their name on it than most cities. But there too is logic behind that. The new BofA Tower will Be for client facing positions. It’s their customer facing building. Therefore it makes sense they would want their name on the tower. Now for Ally, Regions, Barings — they just want their name out there for advertising. Wells and BofA don’t need to do that.
And lastly, I would say in any event - as I say to some triangle posters and others in general - Towers are built - and only built - because there is a need. No other reason. Even if it were for prestige or whatever, financing is much more strict these days. Construction cost are getting high because there’s a lot of need for construction workers. So many factors where they’re not going to build a bigger tower for the sake of it.
I didn't mean the name physically on the building. Bank of America Corporate, Hearst Tower, Legacy Union, Bank of America Plaza, and 1 Bank of America Center are all Bank of America buildings. With one of them currently under constriction, I think it's more than evident despite having 4 other towers in Uptown and countless other space throughout Charlotte, Bank of America is still looking for space.
There has been no rivalry per say between banks' headquarters in Charlotte since the build off between First Union and NationsBank because Charlotte has had no other bank headquarters since. Now that an entirely new, large bank is moving to the city and specifically Uptown, a new signature tower is easily possible.
Where executives and CEOs live is irrelevant, Bank of America is just as significant in Charlotte today as it was in 1989 when their headquarters began construction.
I didn't mean the name physically on the building. Bank of America Corporate, Hearst Tower, Legacy Union, Bank of America Plaza, and 1 Bank of America Center are all Bank of America buildings. With one of them currently under constriction, I think it's more than evident despite having 4 other towers in Uptown and countless other space throughout Charlotte, Bank of America is still looking for space.
There has been no rivalry per say between banks' headquarters in Charlotte since the build off between First Union and NationsBank because Charlotte has had no other bank headquarters since. Now that an entirely new, large bank is moving to the city and specifically Uptown, a new signature tower is easily possible.
Where CEO’s live in completely relevant. Not in the context you’re speaking in (BofA being just as significant in CLT — of course it is). But in the context of being civic leaders beyond just donating a few million to some local arts, non-profits, schools and parades. But the stewardship, leadership and visions of shaping the cities. McColl has a vision for the city. He wanted to transform CLT into a powerhouse. He would look out his window and envision what Charlotte could be — and he influenced that along with Crutchfield. Moynihan doesn’t fly to Charlotte and dream up visions of what Charlotte could be. He flies to Charlotte and decides how best the company can have the best technology in the industry. The most efficient. The most profitable. And he’s done a great job.
And BofA does need space. Even after workplace modernization where we went from cubes to ledges where they could fit more people in per floor and it’s still wasn’t enough. But when I worked in BofA Corp. Tower, and Odell briefly, it was dog eat dog for teams to have a place to sit. Managers would complain hardcore there just wasn’t enough space uptown. It’s pretty likely they’ll build another tower soon, but BofA isn’t going to build a large tower because of Suntrust.
Now SunTrust. I wouldn’t be surprised if it was our new tallest. I wouldn’t be surprised if there was a 30 floor tower either. But I do think there is potential there for a 1,000 footer. It probably won’t happen, but if Duke let Suntrust lease out like 10 floors or so of their new tower, that would definitely stretch it to 1,000+ feet easily.
The new BBT/SunTrust definitely want a building uptown:
Really hoping for a nice signature tower. If Charlotte is to get a 1,000 footer anytime soon, this is the opportunity. The new BofA is around 650, the new duke will probably be over 700.
While I will cheer for Charlotte if you get something over 1000ft, I love the BofA Corporate Center so much that I don't want to see it eclipsed by anything else, unless it is something so magnificent that it will outshine everything around it. I have seen gorgeous skyscrapers getting built all over the world, but the BofA Corporate center is still my favorite. Along with Mobile's RSA Battle House. The First Union tower was definitely an amazing proposal, but you already know how I feel about BofA Corporate Center
Just let you know how much space Sun Trust and BB&T have in Atlanta (hint they are one of the biggest office tenants in town) Not saying they would need this much space in Charlotte by any stretch as much of this space in the ATL will be retained but some consolidation will occur.
""SunTrust will maintain a large presence in Atlanta, but it's possible the bank will consolidate much of its office space across the city.
There's a lot of it, according to market data.
About 675,000 square feet at the 303 Peachtree Street headquarters.
About 400,000 square feet in the tower's Garden Offices.
Almost 200,000 square feet for SunTrust Robinson Humphrey's offices in Buckhead's Atlanta Financial Center.
Just under 100,000 in Midtown's Campanile building.
Another 50,000 at Peachtree Center.
By comparison, BB&T's Atlanta office footprint is a fraction of that size. It has multiple floors at its regional office in Midtown's 271 17th tower overlooking Atlantic Station. Overall across metro Atlanta, BB&T occupies just over 100,000 square feet.""
The 25 largest Banks in Charlotte
1-Bank of America
2-Wells Fargo
3-BB&T
4-FithThird Bankcorp.
5-First Citizen Bank
6-Sun Trust
7-First Horizon Nation Corp.
8-South State Bank
9-Pinnacle Financial Partners
10-Peoples Bancorp.
11-FNB Corp
12-The PNC Financial Service Group
13-Bank OZK
14-Uwharrie Capital Corp.
15-F&M Financial Corp.
16-Paragon Bank a division of TowneBank
17-First Bancorp.
18-Regions Financial Corp.
19-Carolina Trust BancShares
20-First Federal Savings Bank of Lincolnton
21-Aquesta FinancialHoldings Inc.
22-NewDominion Bank
23-Bank of York
24-Home Trust Banking Partnership
25-Fiedlity Bancshares (NC) Inc.
As you can see BB&T and Sun Trust Bank are 2 & 6 in Charlotte
Ref. to Charlotte Business Journal book of List
Last edited by CLT1985; 02-08-2019 at 11:51 AM..
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