Spotlight on:Flint McNaughton, CEO & Founding Partner, SunCap Property Group

Spotlight on:Flint McNaughton, CEO & Founding Partner, SunCap Property Group

By: Felipe Rivas

The Charlotte Metro Area offers access to capital, a talented and growing workforce, and an affordable cost of living. As a result, many companies and new residents are flocking to the region. Developers, however, must navigate the area’s competitive climate and tackle rising construction costs to materialize their projects. In an interview with Invest: Charlotte, SunCap Property Group CEO Flint McNaughton talks about the trend of companies relocating their headquarters to the area, the challenges for developers, and the outlook for the region amid continued growth.

What impact has the millennial workforce had on the region?

Companies continue to focus on recruitment and retention of millennials because they are a big and growing workforce. Many companies are adjusting their work schedules and environments to recruit and accommodate them. Many millennials are looking for lifestyle choices that provide flexibility. I think apartment life enhances that flexibility and is a major reason for the consistent positive absorption we have seen in the multifamily sector. In my opinion, there will continue to be growth in that area.

What are some challenges facing the commercial real estate development industry?

The biggest challenge today in the commercial real estate development industry is the rising cost of construction and land and how that affects underwriting. As costs rise, so must rents. When markets were trying to recover from the recession, contractors remained aggressive in their bidding and costs remained low. They were trying to keep the lights on. However, as the market recovered and their pipelines became full again, the aggressive bidding began to wane. Many contractors can pick and choose their projects now. In a hot Charlotte market, costs of labor and materials are up.  

What is driving the region’s headquarters relocation culture?

Labor is a big concern for companies coming to the region. South End has been a robust and interesting story for Charlotte. It’s where the millennials and younger crowds want to go. When companies compete for employees, particularly the millennial generation, many of the companies find a competitive advantage by co-locating where those folks live. If you can live, work and play in an environment like South End, it checks a lot of boxes, and gives companies a competitive advantage over those located in  smaller, less “amenitized” submarkets. 

The headquarters relocation trend happening in the Charlotte Metro Area is largely driven by a number of positive attributes. Probably the biggest driver is the cost of living in the area, which is significantly less expensive than the other major markets. The region has a large well-diversified workforce, land, access to capital through its banks, and it is a great place to raise a family. When you can attract and retain young talent, it is a boom across industries and sectors, and I don’t think that will change in the near future.  

What is the outlook for the region heading into 2020?

The different headquarter relocations to the Charlotte area serve as big milestones as to how the city is doing. From a macroeconomic perspective, the area has experienced tremendous, positive and sustained growth. The area has its challenges, but overall Charlotte is very healthy. 

I’m bullish on Charlotte and believe this wave of momentum will continue. One of our biggest challenges will be investing in infrastructure to keep pace with that growth. Our roads, hospitals and education systems in particular will have to keep pace with that growth. The private sector will also have to get involved in upward mobility initiatives and be actively involved in the community to help the less fortunate move forward. We have to be smart, disciplined and fair about how we grow.

To learn more about our interviewee, visit: https://www.suncappg.com/

Decatur embraces “hipsturbia”

Decatur embraces “hipsturbia”

By: Felipe Rivas

2 min read December 2019 — Downtowns throughout the nation are popular among millennials for their walkability and myriad retail, recreation and lifestyle choices. But as millennials settle down and begin to outgrow their trendy Downtown apartments, the need to find a suburban neighborhood that is affordable, yet vibrant and walkable, has solidified itself as a trend to watch out for in 2020. Aptly described as “hipsturbia,” millennials across the nation are trading their city lifestyle for the suburbs, without losing their affinity for walkability and access to cool, a-la mode restaurants, retail and recreation options. Developers are tapping into the hipsturbia trend as seen by the proliferation of affordable, multi-use suburban communities in cities like San Francisco, Chicago and Atlanta. As a result, in October, The Urban Land Institute named “hipsturbia” one of the top emerging trends for 2020. 

In essence, “hipsturbia” suburbs are characterized by their vibrant downtowns that offer walkability, public transit and a variety of “hip” restaurants, retail and recreation. In the Atlanta Metro Area, Decatur, located In Dekalb County, is quickly embracing “hipsturbia.” Approximately one-third of Decatur residents could be considered millennials, according to the population figures on Decatur’s official website. This year, Niche.com, the neighborhood ranking and review site, rated Decatur as the No. 1 place, and suburb, to live in Georgia. Downtown Decatur offers a bevy of bars, restaurants, coffee shops, and parks, that add to its “cool” factor. The area has an urban-suburban feel that fits in with the “hipsturbia” trend. According to the Urban Land Institute, people living in communities like Decatur, are discovering that smaller communities can have the same appeal as big cities. The institute predicts that millennials will continue to move to communities that offer walkable spaces and “hip” amenities. 

Once touted as cash-strapped and debt-ridden, millennials are making an impact in the national housing market. According to the institute, “hipsturbia” is happening in major cities like San Francisco and Chicago, as well as smaller cities such as Charleston and Phoenix. As the lack of home affordability draws young families away from big cities and into the suburbs, it is possible that it will not take long for “hipsturbia” to transform from a trend into the preferred suburban development style of the future.

For more information, visit:

https://www.decaturga.com/

https://ulidigitalmarketing.blob.core.windows.net/emergingtrendspdfs/ET2020FallMeeting.pdf

Spotlight On: Lynn Stoner, Mayor, City of Plantation

Spotlight On: Lynn Stoner, Mayor, City of Plantation

By: Max Crampton-Thomas

4 min read December 2019 — To move a city forward both economically and community-wise, it takes a leadership with the forethought to develop for the future and individuals with their finger on the community’s pulse. The Mayor of the City of Plantation Lynn Stoner recently sat down with Invest: and discussed her first year as mayor, the key challenges her city faces, and how customer service has become the buzz phrase for her administration and how it deals with the community.

 

What has been a key focus of your first year as mayor of Plantation?

 

One of the many components that I chose to focus on is our transportation corridor. Plantation’s population is approximately 94,000 residents, 22 square miles and it’s right in the middle of the county, 10 minutes away from the Port Everglades and 15 minutes away from the airport. About 70% of the pass-through traffic on University Drive does not originate in Plantation, so one of my priorities was to be on the Board of Broward County’s Metropolitan Planning Organization. As a result, we will have adaptive lighting installed on University Drive starting in 2020. The following year, we will start the project on Pine Island, and we are in conversation regarding the bridge from Midtown across the river to State Road 84. These are hugely important and beneficial initiatives. Another major city initiative stems from 2016 when our citizens approved a $60-million bond issue. We are working now to complete these projects in the areas of public works, public safety, and parks and recreation. These projects will provide tangible improvements for residents, visitors, and businesses. 

 

We have people arriving to Plantation every day, calling or visiting to explore areas and opportunities, which has us absolutely thrilled. Being a strong mayor, I am trying to retain our hometown feel. I’ve lived here since 1970. I went to high school here and my three children and granddaughter are still in town. I understand the family component of Plantation. And keeping with this hometown feel, our first Light Up City Hall event was held on Dec. 7 and we anticipate making this as an annual event. 

 

What makes Plantation attractive to new businesses?

 

There was a time when Plantation was the golden city of the county. Now, many of the people that were raised here, are coming back . They have fond memories of where they used to fish, ride their bikes and go to our parks. They want to come back to raise their children in a similar environment.

 

We are focusing on maintaining that hometown feeling amid the development. We are now putting the finishing touches on our Midtown district, which was created in 1980 to be high density. We are handling the traffic in a manner that you feel comfortable coming here, taking a walk, riding a bike or taking a shuttle. We are focused on finding the right balance for our residents, visitors and businesses.

 

How is Plantation focused on government as a customer service?

 

As a contractor, I understand when people talk about their project costs. I understand their financial constraints when trying to put a project together. The city has codes that must be complied with but there is a way to present that information in a more palatable manner. City staff needs to understand the business consequences of their comments and we as a city need to understand the impacts of our rules and regulations and take a balanced approach. We are also striving to streamline business processes with a goal of transitioning to online plan review and permitting over the next several years as part of our “Paperless Plantation” initiative. This particular initiative is part of an overall effort through strategic planning that will focus on providing greater customer service across all 16 city departments. The City of Plantation believes in continuous improvement and every day we look for ways to better serve our stakeholders.

 

What are the main challenges that the city is facing as it grows economically?

 

Coming from the private sector, I always want things done a little faster. Still, when I look back over the last year, we’ve come a long way. Traffic and transportation are the main challenges, as well as sustainability. Along with our partners, Broward County, FDOT and MPO, our transportation initiatives together with Midtown upgrades will continue to offer a welcoming hometown feel that everyone will enjoy.

 

For more on our interviewee, visit:

http://www.plantation.org/

Spotlight On: Scott Zuckerman, Principal, Domus Construction

By: Yolanda Rivas

2 min read November 2019 — Philadelphia-area general contractor Domus was established in 1976. The company has now become a $100-million construction firm with expertise in managing housing, restaurants, retail/commercial and academic construction projects. Domus Construction Principal Scott Zuckerman spoke with Invest: about the company’s diversity of place, construction trends and more. 

What are some highlights for Domus Construction in the past year?

 

One of our most recent projects is the Dwell at 2nd Street, which is expected to be completed by December 2019. The project will include 198 apartments with a variety of amenities including onsite parking, a swimming pool and a dog park. One hundred and twenty of the units will be modular, which is a concept that seems to be getting more of a push in Philadelphia because of increasing construction costs. 

 

What key trends have you observed in the sector?

Modular construction and smaller, efficiency-style apartments are trends we’ll continue to see in Philly. Domus introduced live streaming construction in 2019, beginning with our Dwell at 2nd Street project. It’s a good marketing tool because 120 units out of 198 are modular and a lot of people are very interested in seeing the process of installing them in real time. The modular process is also friendly to the environment since it provides more ways to control waste.

 

What actions are you taking to ensure diversity in the workplace?

Domus has a strong and long history of diversity. We actively participate in community outreach and advertising to increase minority participation for all our projects regardless if it’s a requirement. Minorities comprise between 30 and 40 percent of the workforce on our jobs.

 

What is your outlook for 2020?

The outlook for Philadelphia’s construction sector seems very positive. We’re booked up until the end of 2020. There are new hotels that are rising around the city of Philadelphia, which seems to be a big trend. Most professionals and companies in the sector seem to be busy, which is a great indicator.

 

To learn more about our interviewee, visit:

Domus Construction: http://www.domusinc.net/

Spotlight On: Jeff Burns, Founder & CEO, Affiliated Development

Spotlight On: Jeff Burns, Founder & CEO, Affiliated Development

By: Max Crampton-Thomas

4 min read November 2019 — To be a successful developer in today’s real estate climate, a company must not only be professional but also in tune with regional and global trends as well as stewards for fulfilling a community’s needs. Affiliated Development focuses on building mixed-use multifamily developments in underserved areas of the market. Invest: spoke with CEO and Co-Founder Jeff Burns who provided his insights on the company’s approach to Opportunity Zones and their potential in Broward County, as well as highlighting the regions that have the most demand for multifamily development.

 

What are the most interesting highlights for Affiliated Development over the last year?

 

We have been working on projects in Broward County and we have also made some fairly aggressive moves into Palm Beach County. In Broward, we just topped out the construction of our 142-unit mixed-use apartment building in Downtown Fort Lauderdale, named The Six13. We are going to start leasing efforts for The Six13 in spring 2020, and delivering apartments on June 1. We are also in the beginning stages of additional projects in three other Broward cities, including another in Fort Lauderdale.  In Palm Beach County, we got underway on a 230-unit apartment project on Dixie Highway in Lake Worth Beach called The Mid. We are also moving on other opportunities in Lake Worth Beach. In May, we closed on the purchase of a 20-parcel assemblage in Downtown West Palm Beach, a couple of blocks from the Virgin Trains station to construct a 289-unit mixed-income workforce housing project called The Grand. My partner and I are very proud of what our Affiliated team has accomplished this year. We are workaholics and have had a busy year, but are focused on keeping the momentum going into 2020.

 

How have you leveraged the new Opportunity Zones in the state and what is their potential in Broward?

 

In April (prior to the IRS posting its regulations) we closed our The Six13 project with Qualified Opportunity Zone (QOZ) funding. We are one of the first companies to implement QOZ financing for a project of this kind in the state of Florida. These zones are definitely getting a lot of thrust, but there are more people talking about it than implementing it. The QOZs are definitely going to have an impact, but it is becoming more challenging to find sites that make sense due to unrealistic landowners and sellers.  There might be a reality check setting in with landowners who found themselves in a QOZ and have priced their land ridiculously high. It could have the adverse effect of preventing projects from happening in some areas because of false expectations.

 

Our philosophy is to remain disciplined. If we strip away the QOZ benefit, is this still a deal we’d do? If the answer is yes, we’ll take an aggressive position. Some people are doing deals that they would not otherwise pencil-out (without the QOZ rules). The program was intended to incentivize investment into these areas, not make a bad deal good. 

 

Which areas of the region have the most demand for multifamily developments? 

 

Fortunately for us, all of South Florida is booming. More and more people are moving here from the Northeast and other high-tax states because our business climate is favorable and our quality of life is second to none. Certain markets have experienced a tremendous amount of urban growth during this latest cycle, such as the Flagler Village submarket in Downtown Fort Lauderdale. We are getting a lot of people who are moving to Fort Lauderdale from Miami to avoid the chaos, but who still want the benefits of a big city lifestyle.

 

We made a major investment in Lake Worth Beach, which is a perfect example of a place in close proximity to the largest employment center in Palm Beach County (West Palm Beach), which is about 10 to 15 minutes up the road. Lake Worth Beach historically has not seen much development or investment, but it is starting to happen because not everybody wants to live in a major downtown metropolis (and pay the rents these markets demand). In some places, it is getting a little bit too crowded and some people are moving into tertiary markets that are near where they work but that maintain their character and are less hectic.

 

How important is it to be able to offer affordable and workforce housing to the region?

 

It’s critical. Our region is one of the most cost-burdened places in the entire country when comparing the cost of living to income. It’s necessary to offer a high quality of life for our current residents, many of whom support our area’s largest industry, tourism. It’s necessary for economic development and to attract and maintain major employers and high-quality talent.

 

Many companies are moving here from the Northeast, looking to locate their offices into these urban areas. I think the days of large office parks in the suburbs are becoming fewer and fewer because companies understand that to attract top-tier employee talent they need to offer an atmosphere that caters to the young workforce who graduate from school and prefer urban living. Younger professionals don’t want cars; they want to be close to where the activities are. I believe that to be able to attract a high-quality workforce, urban living is key. But in areas like Fort Lauderdale, every landowner knows what they are sitting on, and it is very challenging to find any reasonably priced land where you can build anything that is not going to be very expensive.

 

We focus very heavily on being close to employment centers. In Palm Beach and Broward County, the average workforce renter commutes 30 minutes in each direction each day for work. People get in their cars and do that because they can’t afford to live near their workplaces. Meanwhile, as some of these cities keep growing, people are starting to complain about traffic. If these cities can offer housing that the workforce can afford, we’ll see a lot more people walking around, utilizing public transportation and a lot less traffic congestion. I also see great opportunities in cities like Lake Worth Beach and Boynton Beach (Palm Beach County), Pompano Beach, Hollywood and Hallandale (in Broward) that are a few minutes away and are becoming really nice options. 

 

What are the prospects for the real estate business in the area looking into 2020?

 

We are obviously at the top of the cycle. I think most developers realize that. Thus, we will be measured in our approach and watch market indicators very closely. As 2020 is an election year, we will no doubt see some volatility. Affiliated is going to continue to stick to our core competency, which includes attainably priced luxury rental housing. There is so much need for that here that we could build thousands of units over the next couple of years and only scratch the surface.  

 

For more on our interviewee visit:

 

http://affiliateddevelopment.com/

Spotlight On: Keith Koenig, CEO & Chairman, City Furniture/Broward Workshop

Spotlight On: Keith Koenig, CEO & Chairman, City Furniture/Broward Workshop

By: Max Crampton-Thomas

4 min read November 2019 — Acting as both the CEO of his company City Furniture and the Chairman of the Broward Workshop, Keith Koenig provides a unique perspective and insight on various facets of business and progress being made in Broward County. He not only discusses how the Workshop is working to address the  effects of climate change on the county, but also the progress it has made on the goals set forth last year. In regards to his business, Koenig reveals his key to longevity in the marketplace as well as what today’s consumers are looking for when choosing where to shop. 

 

How is the Broward Workshop addressing the issues related to climate change in Broward County?

Wherever anyone stands on the science of climate change, one issue is undeniable, and that’s the economics of resiliency. Smart people in the insurance world believe that our risks and insurance costs will go up in the years to come if we do not get ahead of resiliency. Broward Workshop members understand that issue and want to lead a public, private effort to improve the resiliency not only of South Florida, but to create opportunities for coastal communities around the world to partner and learn. We are still in the process of setting our priorities for our annual goals, but in all likelihood they will include supporting the Army Corps of Engineers’ $20-million research project. In addition, our members are supporting Broward County’s efforts to jump-start our resiliency efforts. We will also be supporting South Florida water management efforts to finish phase two of the C-59 reservoir, which is an important step forward in our resiliency efforts. 

What progress has been made on the goals set by the Broward Workshop last year?

When we look back over the last year, we have really moved all our goals forward. At the top of the list was addressing homelessness. A little over a year ago, we had a major encampment of close to 100 homeless in Downtown Fort Lauderdale and they were in an area right next to the library. Earlier this year, we worked to help place these homeless people into more permanent housing. The best way to end homelessness is to provide people with housing that is respectful and valuable. Our second goal revolved around education, particularly K-12 education in Broward County. When Superintendent Bob Runcie arrived in 2011, the Broward County school system was in disarray. Members of the school board had been accused of improprieties, morale was low and we were facing over $20 million in fines for not meeting state-mandated class size. Runcie has worked diligently to address those issues and to move our Broward County school system forward. The good news is that our school system has improved greatly with higher graduation rates and higher rated schools. Broward County Public School System nearly achieved an overall A rating in 2018 and they are working to continue to improve. We set a goal to support the Broward County public schools and our measure of success was to make sure Bob Runcie stayed as superintendent. I’m proud to say Bob Runcie is still our superintendent today.

The third big goal was the transportation sales tax initiative. Last year, county leaders put this sales tax increase on the ballot to fund transportation initiatives. It was a major initiative and members of Broward Workshop fell on both sides, but like any good organization we listened to the majority. We put our support behind it and the sales tax initiative passed. The last goal we set was around tourism. Tourism is Broward County’s biggest industry, and the biggest need we have is an expansion of our convention center and to build a convention center hotel. We were active both on the forefront and behind the scenes, and the expansion and the convention center hotel are going forward. 

How has City Furniture maintained its longevity in the market? 

The key to City Furniture’s longevity in the Broward County marketplace has been reinvesting back into our business. We operate financially conservative, meaning that we are careful and never try to bite off more than we can chew. That being said, growth has been a cornerstone of our business. If you do not have growth as a cornerstone strategy for your business, you can’t attract the talent you need or want. For instance, millennials all want to see opportunity to advance, grow and succeed, so they are attracted to companies that embody that vision. In our case, we just opened up big stores in Orlando, and we are planning to open in Tampa over the next few years. The other key to this business has been private ownership. We are able to invest for the long-term benefit of our associates, our customers and our community. 

How have you seen priorities shift in regards to consumers making a decision on where to shop?  

Retail needs to be more of an experience. What will drive you to a store as opposed to buying online is the experience. When the consumer is given a choice, they prefer to do business with local companies that genuinely support the local communities that they are in and companies that move in a direction of sustainability toward a carbon neutral footprint. Mostly, our shoppers and customers learn that City Furniture does these things after they come to our stores. It becomes a better value proposition for them to do business with us. All of these elements are aimed at tilting the customer experience factor a little more in our favor. 

 

To learn more about our interviewee, visit:

 

https://www.cityfurniture.com/

 

https://www.browardworkshop.com/

Spotlight On: Liz Babson, Director, Charlotte Department of Transportation

Spotlight On: Liz Babson, Director, Charlotte Department of Transportation

By: Felipe Rivas

2 min read November 2019 — As Charlotte continues to grow, the Department of Transportation is looking at ways to improve and innovate its transportation system. The department has been keen on leveraging capital investment with private development to build a safe transportation network for drivers, cyclists and pedestrians. Safety is a top priority for the department heading into 2020, said Liz Babson, director of the Department of Transportation, in an interview with Invest: Charlotte.    

How has Charlotte’s transportation system kept up with economic growth in the past decade?

 

“Charlotte, like other major cities, is experiencing economic growth and is seeing the effects of that in its transportation system. We have seen congestion increase throughout the community. The city must look at multiple ways to solve and manage its transportation system. We put a lot of investment in transit and other transportation improvements and continue to manage  congestion. In the last decade, we have seen a shift in the way we look at transportation investment throughout the city, not just on the transit side but making sure we are connecting our networks, such as our walkways and bikeways, and giving people a choice when they travel throughout the city. We are making a major shift from traditional roadway projects and single occupancy vehicles.”  

 

What is the state of the transportation system in Charlotte?

 

“In the last few years, the state legislature was changed to reprioritize transportation investment throughout North Carolina. As a result, there is a tremendous amount of investment at the state level that is coming to Charlotte. Some $3.2 billion in state transportation investment is earmarked for this city. Those are projects that will improve the freeway systems throughout North Carolina. As your capacity increases in those facilities, it gives people more travel options to use Charlotte’s surface streets for local, short trips. We then have more capacity at the surface street level to improve the transportation system for cyclists and pedestrians.”  

 

How is the Department of Transportation working with the private sector to speed up projects in Charlotte?

 

“We work to find ways to align our capital investment to where we know new development or redevelopment is happening. The Camp North End project north of Uptown and the River District are good examples where we anticipated the type of development and redevelopment we want to see happen and set aside capital investment dollars to partner up with investors and developers. It allows us to see projects developed quicker. The challenge is finding equitable and balanced ways to do that. We have always tried to be strategic with our partnerships; sometimes the private side is faster and more efficient.”    

 

How is the Department of Transportation working with the community as Charlotte continues to grow?

 

“We are developing our 2040 Comprehensive Plan. We are engaging the community, elected officials and private partners in a way that we have not done before to look at how we want to grow as a community and how we will do that. We are engaging the community as we have those conversations, so they can understand the challenges and how we can work together as we head into the future. We are having those tough conversations in a meaningful way. This is an important undertaking for the city. It will be transformational for the city from an organizational structure and how we do our work and engage the community.” 

 

How is the Department of Transportation using technology to improve transit operations?

 

“We have close to 850 traffic signals and close to 350 miles of fibers that communicate with 90% of those signals. From one central location, we can change signal timing for the entire city. That fiber infrastructure also manages our traffic camera system, which is comprised of around 450 cameras located throughout the city. It’s a shared system. We work very closely with the police and fire departments. Together we can make on the spot decisions that improve emergency response times and help get the roads cleared faster when there are bigger problems. We have the infrastructure in place to test and implement new smart traffic technologies. We are looking at the possibility of leveraging the connected traffic system with people’s smartphones to share information from the traffic signal operations with pedestrians who want to know when the bus is coming or commuters who want to know when the traffic lights will change. Those are the kinds of things we are starting to look at.”  

 

What are the Department of Transportation’s priorities heading into 2020?

 

“We are working to do road projects that are transformational, as well as small, safety improvements to expand our safe and efficient transportation system for our cyclists and pedestrians. We are a Vision Zero city and are working toward no deaths or serious injuries on our streets by 2030. The goal allows us to take a data-driven approach when it comes to capital investments. We are continuously looking for opportunities to leverage private development with capital investment to build a safe transportation network. There is a real intentional focus to improve the safety of our cyclists and pedestrians.”  

 

To learn more about our interviewee, visit: https://charlottenc.gov/Transportation/

Tyler Perry’s new 330-acre film compound is the largest in the nation

Tyler Perry’s new 330-acre film compound is the largest in the nation

By: Felipe Rivas

2 min read November 2019 — Hollywood and the movie industry have enjoyed a symbiotic relationship since the days of Charlie Chalpin, Humphrey Bogart and Bela Lugosi. However, in the 21st century, multi-hyphenate film mogul, Tyler Perry, has been keen on proving that successful movie production outside of California is possible. In October, Perry unveiled his new 330-acre Tyler Perry Studios, built on the grounds of Fort McPherson in Atlanta, a former military base in Atlanta that Perry purchased in 2015. While the state of Georgia has consistently attracted new movie and TV productions to the region via tax incentives, the man behind Madea’s crazy family adventures has been busy on and off the camera promoting Georgia and the Atlanta Metro Area as a venue for productions of all sizes. Now, with his new studio in full swing, Perry has a new base to challenge Hollywood for the audience’s attention, praise and profit. 

Tyler Perry Studios is the largest film production studio in the nation. It also makes Perry the first African-American to have sole ownership of a major film production studio. “We are a major player in film and television, and now we have the facilities to rival Hollywood – so come, bring your productions,” Perry told Atlanta Business Chronicle in late September. Georgia’s current tax credit system, in which studios can earn up to 30% tax credits on total production costs, has led to a boom in movie business in the region. It estimated that Georgia’s film and television industry generated close to $2.7 billion in economic impact in 2018 with over 300 productions in the region.  

 

It is likely that you have seen a show or movie shot in Perry’s former studio, also in Atlanta. Several top productions have used his facilities to wow audiences, including Marvel’s “Black Panther,” AMC’s “The Walking Dead,” and “Pitch Perfect 3,” aside from Perry’s bevy of brand-name shows and movies. The new studio features 12 state-of-the-art sound stages, 200 acres of picturesque green space, over 40 Victorian style homes and even a replica of the White House. Perry, who is an avid lover of architecture, still has 200 acres of space to continue to build elaborate stages suitable for any type of production. 

 

Perry’s most recent productions, “The Oval” and “Sistas,” have drawn over 3.3 million viewers at night on BET+, the network’s streaming platform. In October, along with the grand opening of his studio, Perry announced two more series are set to premiere in BET+ in 2020. Fans can add the new series “Bruh” and “Ruthless” to their watch list sometime in the new year. Aside from being a world-class movie production site, the new studio will also serve as host to global events, concentrating the world’s eyes on the Atlanta Metro Area. 

 

To learn more about our interviewee, visit:  https://tylerperrystudios.com/

Big Reveal: A New Look for Charlotte’s Main Library

Big Reveal: A New Look for Charlotte’s Main Library

By: Felipe Rivas

2 min read November 2019 — In the information age, knowledge is power. As Charlotte continues to attract top-level companies and talent across multiple industries to the region, Mecklenburg County wants to provide Charlotteans a sleek, modern, and highly technological space to study, learn, and absorb information. The Charlotte Mecklenburg Library unveiled the design plans for its new $135 million, 115,000-square-foot Main Library in Uptown Charlotte. The design features five levels and one lower level, two outdoor terraces, immersive theaters, conference rooms, and a revamped Robinson-Spangler Carolina Room. The plans were revealed two days after voters rejected an arts- and education-related sales tax increase.

The new Main Library will be made possible via a public-private partnership. According to the Charlotte Mecklenburg Library, the county has committed $65 million to the project. The library’s foundation will raise the remaining $70 million through a new campaign, called CommonSpark. Reportedly, the Knight Foundation pledged a $10 million donation to the new library on Thursday. Demolition is slated for 2021, with an expected completion date of 2024.

The plans for the new Main Library come after Mecklenburg County voters rejected a 0.25% sales tax increase that would have funded art, education, parks and more for Charlotte. If passed, the sales tax would have increased from its current 7.25% to 7.5%. Sales tax advocates, which included the Charlotte Regional Business Alliance, estimated the tax would raise around $50 million a year for arts and education-related initiatives. 

Though voters rejected the sales tax, the new library is part of the vision for Uptown Charlotte as the area continues to develop. “The new main library will be an architecturally-distinctive, state-of-the-art, technologically-advanced knowledge center and public commons, where everyone in our community can access the resources of a 21st-century library,” said Charlotte Mecklenburg Library CEO Lee Keesler in a press release. “The new Main Library helps further our mission to improve lives and build a stronger community by strengthening public engagement, supporting economic opportunity and connecting community resources.”

The Charlotte Mecklenburg Library system is comprised of 20 libraries and it serves more than 1 million residents, according to its website. The Main Library design plans account for a job training center, counseling services space, along with the core technology and maker space offerings, including a technology center, computer lab, digital visualization lab, and recording studios. Two outdoor terraces will overlook Tryon Street and Uptown Charlotte, giving visitors a front-and-center look at the transformation of the area.  

For more information visit:

https://cmlibrary.org

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