UNC Charlotte State of Housing Summit

Register to attend UNC Charlotte’s State of Housing Summit!

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Join us Thursday, Feb. 21 at 2 p.m. at the UNCC Center City Building for the inaugural Summit on the State of Housing in Charlotte!

This informative event will unveil the “State of Housing in Charlotte” report – a comprehensive analysis of housing affordability and a review of the region’s current housing stock.

CRRA is a proud sponsor of this event, and CarolinaMLS has partnered with UNCC to provide data for this important study.

This event is free for CRRA and CarolinaMLS members.

Register Now!

Charlotte NAIOP Members Advocate for Commercial Real Estate Issues on Capitol Hill

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NAIOP North Carolina members with Senator Thom Tillis last week in Washington

Members of the Charlotte Chapter of NAIOP traveled to Washington, D.C., last week to meet with members of Congress about issues critical to North Carolina’s commercial real estate industry. The Capitol Hill visits were part of NAIOP’s annual Chapter Leadership and Legislative Retreat, and gave Charlotte developers a chance to advocate on a range of topics, including:

  • Establishing a reasonable cost recovery period for qualified leasehold improvements;
  • Advocating for increased federal investment in our national infrastructure, including roads, ports and bridges; and,
  • Encouraging Congress to incentivize energy-efficient construction without imposing new mandates.
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NAIOP Legislative Affairs Chair Jason Moore (Rodgers Builders, center) meets with Congressman Richard Hudson on Capitol Hill

During the course of the day, NAIOP members met with Senator Thom Tillis and congressmen Richard Hudson and Patrick McHenryThanks to those NAIOP members who took time out of their busy schedules to advocate for commercial real estate priorities on Capitol Hill!

Charlotte Postpones TOD Ordinance Hearing as Draft Undergoes Revision

The Charlotte planning department has postponed a public hearing for its new Transit-Oriented Development (TOD) zoning ordinance from February 25th to March 18th, as it revises the proposal to incorporate feedback from REBIC and other stakeholder groups.

While the updated draft isn’t scheduled to be released until the week of February 18th, it is expected to include an expanded menu of incentives to encourage developers to include affordable housing, make infrastructure investments, or participate in the City’s Minority, Women and Small Business Enterprises (MWSBE) program. The current draft only offers developers an opportunity to increase their building height, which REBIC cautioned could be of limited value to developers. In a letter to City staff last month, we encouraged the inclusion of incentives that would provide variances on building length, building articulation, or required open space. Continue reading

Treasury, IRS Give Big Win to Real Estate Professionals in Qualified Business Income Rule

img_0100Late last week, the Treasury Department and the Internal Revenue Service issued final regulations regarding the new 20 percent deduction on qualified business income. As Americans begin preparations for the 2018 tax filing season, real estate professionals have been uncertain about the true impact of the 2017 Tax Cuts and Jobs Act on their respective businesses. Friday’s ruling from Treasury and the IRS, however, signaled a significant victory for the real estate industry and for many of the National Association of Realtors®’ 1.3 million members. Continue reading

Mecklenburg County Property Revaluations Online Now

County SealThe 2019 Mecklenburg County Property Revaluation is complete, and property valuations are now online at the Assessor’s website.  Look for your Notice of 2019 Real Estate Assessed Value in your mailbox in late January 2019, and remember that this Notice is NOT a bill. Your property tax bill will be determined by the tax rates adopted by Mecklenburg County and the City of Charlotte later this year (probably around July).

You can also use the tools on the County website to file an informal appeal if you think your property has been improperly valued. If you disagree with the results of your Informal Review Request, you have a right to file a Formal Appeal to the Board of Equalization and Review. You may request an appeal any time prior to the adjournment of the Board of Equalization and Review or within 30 days of your Notice of 2019 Assessed Value. All requests for appeal must be made in writing and on the proper form.

State law requires the County to conduct a property revaluation at least every eight years to determine its market value. All property (commercial, land and houses) is being visited and observed by a County Assessor to:

  • Verify the accuracy of characteristics on record for the property,
  • Compare similar property sales and
  • Consider improvements or changes that have been made to the property.

Mecklenburg County Assessor Ken Joyner has said that residential property values increased an average of 40% since the last revaluation in 2011, with commercial values up by an average of nearly 80%. The County hopes to shorten the window of revaluations to no more than 4 years, meaning the next reval would occur as soon as 2023.

County Code Enforcement Issues New Guidelines on Townhome Egress

A new Mecklenburg County interpretation of a section of state building code means builders of many urban townhomes will have to adopt one of two approaches to ensure compliance with life health safety requirements.

The issue involves language in IRC Code Section R310.1 – Emergency escape and rescue required. One provision in that section states that ‘Emergency escape and rescue openings shall open directly into a public way, or to a yard or court that opens to a public way.’ In late 2018, Mecklenburg County code officials began interpreting that provision to mean that an easement agreement was required in either the community Declaration of Covenants, Conditions and Restrictions (CCRs) or on the recorded plat. Continue reading

New State Law Exempts Charlotte Redevelopment Projects from Stormwater Controls

State legislation passed last month at the conclusion of the 2018 session of the General Assembly means redevelopment sites in Charlotte are no longer required to include on-site stormwater controls if no additional impervious surface is created. A provision in SB 469, a Technical Corrections bill initially vetoed by Governor Cooper but ratified through a legislative override, specifically mandates the change to local stormwater ordinances, regardless of where a local government obtains its regulatory authority.

While a redevelopment exemption for stormwater has been state law for years, the City of Charlotte has previously required controls on all projects, citing its adherence to a federal NPDES stormwater permit that called for higher local standards. REBIC has long argued that stormwater controls should not be required on redevelopments where no additional impervious surface is created.

The provision in SB 469 also allows development within a vegetative buffer, as long as the runoff from the entire impervious area of the project is collected, treated, and discharged through a portion of managed vegetative buffer. Of course, stormwater controls will continue to be required on sites whenever additional impervious surface is created.

Thanks are due to the North Carolina Home Builders Association (NCHBA) and State Representative Dean Arp (R-Union) for their support of this critical legislation!