As I was showing a property today near the Uptown area in Dilworth, I noticed that the skyline included another new crane, which led me to follow the maze of new construction into the area to see which project was moving forward. Almost 2.7 million commercial square feet, currently being erected in the Uptown area right now still won’t be enough to meet the demand of Charlotte’s growing economy.
The Charlotte Chamber of Commerce has compiled the newest set of numbers revealing that over 1,300 new or expanding firms are investing $2.3 billion in Charlotte’s future infrastructure. With a vacancy rate of only 2%, commercial space in the Uptown area is very tight and with 14,648 jobs being created by these firms, Uptown residential space should soon be limited as well. The numbers are a fairly good indicator of Charlotte’s continued economic growth.
Some of the new jobs are as follows:
- 4,436 Accommodations & food service industry
- 3,000 Technical service
- 2,210 Retail
- 360 Manufacturing
- 4,642 Healthcare, finance and administrative support
The addition of these 14,648 jobs, translates into an increase in demand for housing as well. Uptown residential buildings continue to add to Charlotte’s skyline in an effort to keep pace with increased job demand. It remains to be seen if the residential new construction will, indeed, keep pace with the draw for Uptown’s preferred work/live environment.
2008 is shaping up to be a stellar year for Charlotte, NC.
About the author:
Debe Maxwell is a Charlotte Residential Real Estate, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte, NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit www.debemaxwell.com/ for your relocation and/or your local needs.