Sunday, April 29, 2012

Regional Growth And Charlotte

The flurry of articles concerning Ballentyne's investigating seceding from Charlotte to create it's own municipality seems misguided.  Instead of shattering this region into parts, there is a clear trend to build up "Citistates" to wield economic power.

A recent symposium focused on Metro Regionalism, go here to read the report.  The author cites 8 reasons why Regionalism is clearly the building trend for economic growth.  Reading through that list, one cannot help but feel that it could be a definition of Charlotte.

The development of the Multi Modal freight yard at Charlotte Douglass International Airport will pay significant returns as the Panama Canal widening nears completion and the East Coast Markets are reachable by super tankers.  Put this together with the $1Billion infrastructure improvements that the airport is doing in addition to the freight yard and it is even clearer.

The potential merger of American Airlines and US Airways will also make Charlotte more of an international city.

The continued flow of companies relocating their headquarters here is clearly a reflection of the quality of life here, and that quality continues to get better with the cultural improvements such as our museums, performance venues, and restaurants that are taking advantage of our city center.

The aggressive and far seeing transportation plan are the early stages of a regional system that could make Winston-Salem, Spartansburg/Greensburg, and Columbia bedroom communities of Charlotte.  These models currently exist in the Northeast, and can be replicated here.

I recently met a couple staying in Charlotte for a brief visit from New York City.  We talked about the housing market here as compared to New York, and the general consensus was that prices are close to 7 times higher for the same space. The difference is that it is not the same space, New York is an economic powerhouse, while Charlotte is in the early stages of that journey. 

The continued following of that trend will push towards those type of prices and increase all of our property values.

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