Novare Group Considering Apartment Conversion for Catalyst Condominium

Posted On: November 11, 2008 By: admin

Novare Group’s president, Tony Skillbeck, said in a Charlotte Observer article last Friday that he is considering the possibility of converting the Catalyst Condominiums located in Uptown Charlotte in the Third Ward into apartments.

Skillbeck notes an unstable housing market and stricter lending requirements as reasons he is considering apartment conversion as an option for the Catalyst Condominiums.  Earlier in the year The Enclave made the transition from Condos to Apartments.
 
The One Charlotte Condos developed by Portman Holdings and 300 South Tryon Condos both located in Uptown Charlotte have faced similar plights because of the slowing housing market and sluggish economy, but unlike the Catalyst Condos, have been put on hold.
 
The article also notes Wells Fargo’s takeover of Wachovia as a contributing factor to decreasing condo sales in Uptown.
 
The 27-story Catalyst Condos, located at Church Street and Martin Luther King, Jr. Boulevard in Uptown Charlotte is slated to have 462 units and 20,000 square feet of ground-level retail space.  It is scheduled to open in Spring 2009.

Category: Third Ward