Author: Manager

A Fresh Vision for Charlotte with Taiwo Jaiyeoba, Director of Planning, Design & Development, City of Charlotte

Submitted by Stacia Neugent, GreerWalker

Taiwo Jaiyeoba, the Director of Planning, Design & Development for the Ciity of Charlotte, spoke to CREW Charlotte members and guests on November 13^th. Taiwo spoke about a fresh vision for Charlotte – the third fastest growing city in the United States as of 2017. He made sure to emphasize that fresh does not mean new. As a top destination for millennials and seniors alike, Charlotte already has a lot to offer.

Taiwo’s focus is on how we can integrate the best of what Charlotte already has with some new and exciting elements. One of the biggest areas of focus for the City of Charlotte is transit-oriented development. With over $2 billion dollars invested and 2.2 million square feet installed along the blue line, Charlotte has already been experiencing a lot of this growth.

Taiwo recognizes that growth can lead to displacement and he wants to ensure that affordable housing is a key component in the continued development of the city. He also wants to make sure that as the city continues to grow the needs of all constituents are met. He envisions growth that focuses on equity instead of equality – an approach of meeting people where they need to be met versus providing the same thing to all members of the community. Taiwo’s passion and excitement are contagious and served as a reminder that this is definitely a great place to live and it will only continue to get better.

The Strengths of a Diverse Workforce and the Challenges in our Way

Submitted by Diana Quarry, Womble Bond Dickinson

Our October luncheon program focused on some of the most critical yet challenging issues our membership currently faces.  In addition to promoting this year’s Queen City in Pink campaign, an initiative targeted at raising breast cancer awareness across the Charlotte region, the luncheon program spoke to issues of diversity, inclusion and equity.  After a moving personal account about how inclusion – or a lack thereof – can have lifelong impacts from CREW Charlotte President Adrienne Bain, attendees were also treated to a powerful video about how diversity and inclusion affects everyone in the workforce, regardless of race, ethnicity, gender, socioeconomic status or other variables.  (A link to the video can be found here.)   Members and guests then heard from Dr. Corliss Brown Thompson, Associate Teaching Professor at Northeastern University’s Graduate School of Education College of Professional Studies, Chara O’Neal, Counsel and Director of Diversity and Inclusion at Parker Poe Adams & Bernstein, and Fred Dodson, Chief Operating Officer and Executive Vice President of the Charlotte Mecklenburg Housing Partnership.  The panelists spoke broadly about what “diversity” truly encompasses, the differences between diversity, inclusion and equity, and the wide-ranging impact of implicit bias. Mr. Dodson also spoke to the importance of focusing on what makes a community unique when developing real estate in the area. The panelists also offered specific tips and strategies for how to improve diversity in the workplace, how to spot patterns of implicit bias and discrimination, and how to monitor whether an employer’s diversity and inclusion efforts are having a meaningful impact.

Girl on the Train: Exploring the Northeast Corridor Transit-Oriented Development

Submitted by Stacia Neugent, GreerWalker

The Lynx Blue Line began servicing passengers in March of 2018. It extended light rail service from uptown Charlotte’s Seventh Street Station to the UNCC campus in the University City area. The extension of the light rail has created great opportunities for Transit-Oriented Development (TOD). This development was the focus of CREW Charlotte’s June luncheon, “The Girl on the Train.”

Alan Goodwin, planning coordinator and urban designer with the City of Charlotte, opened the luncheon by discussing what makes an area qualify as a TOD. The requirements are counterintuitive to other residential developments – there are minimum requirements for density and maximum requirements for parking spaces.

Darlene Heater, executive director of University City Partners, spoke next and discussed some of the benefits that the University City area has to offer. There are several strong anchors such as the Atrium hospital and the University of North Carolina at Charlotte that make the University City area a prime spot for development. Darlene said that the focus is currently on making the area more pedestrian and cyclist-friendly. This will be key in supporting the residential aspect of the upcoming mixed-use developments.

Jane Wu, president of Panorama Holdings, was the final speaker at the luncheon. Jane discussed her recent project, Blu at Northline. This upscale apartment complex is unlike anything else in the University area. It offers luxuries and amenities similar to those found in Uptown and Southend. Jane discussed how she wanted to do something that was completely different, and it seems that she hit the mark with the Blu at Northline project. The project is already exceeding expectations for number of leases and price per square foot.

One thing is for sure, the transit-oriented development occurring along the light rail is going to be something to keep an eye on in the upcoming weeks, months and years.

Signature Luncheon with Erin Brockovich

Submitted by Diana Quarry, Womble Bond Dickinson

On May 15, CREW Charlotte held its first Signature Luncheon.  The event, held at The Westin in uptown Charlotte, was attended by over 400 CREW members and guests.  The event began with opening remarks from Chapter President Adrienne Bain and a welcome from Kara McShane, Head of Commercial Real Estate Capital Markets and Finance with Wells Fargo Bank, the event’s Presenting Sponsor.  WBTV’s Molly Grantham then took the stage to welcome the event’s keynote speaker, Erin Brockovich.  

A dynamic and engaging speaker, Brockovich told the audience about her personal journey that led her to the position as a clerk at a California law firm that made her famous, and where she has been since.  She spoke about the critical role that her parents and education played in her life, learning to work through personal challenges and the value of determination and stick-to-itiveness.  Brockovich discussed her continuing role as an advocate for clean water in communities across the nation, and trends she is seeing on a local and national level.  She also discussed the guidelines of Realization, Assessment and Motivation as a tool for anyone in any industry or walk of life to take stock of who they are, what they have, and how they can leverage their skills and abilities to effectuate change in their own lives. 

Guests of Presenting Sponsor Wells Fargo and Supporting Sponsors TH Real Estate and Northeastern University were also able to meet with the speaker before the formal program began for some additional remarks and an opportunity to chat and take pictures with Brockovich.

The Impact of Tax Reform on the Commercial Real Estate Industry

Submitted by Stacia Neugent, GreerWalker

In December of 2017, Congress passed the first major overhaul of the United States tax code in over 30 years. At CREW Charlotte’s April luncheon, Bobbi Jo Lazarus of Elliott Davis and Stacia Neugent of GreerWalker discussed with attendees the impacts of tax reform on both businesses and individuals alike.

Margaret Martin of CBC Meca opened the luncheon by discussing how tax reform was intended to provide simplification but this wasn’t necessarily the case for all taxpayers. Changes such as the increased standard deduction, lower tax rates and an increased threshold for Alternative Minimum Tax (AMT) may actually simplify tax return filing for many individuals. However, for individuals with ownership of pass-through entities such as partnerships or S-corporations, this simplicity will likely be offset by the complexity of a new Qualified Business Income (QBI) deduction.

For business entities, presenters focused on the newly created interest expense limitation and the increased three year holding period for carried interests – interests in a partnership that are often issued to investment managers in exchange for the services they provide. Additionally, owners of businesses will need to consider the change in the deductibility of entertainment expenses.

The presenters emphasized that there is still a lot of clarification needed regarding many of the new tax provisions. With all of the uncertainty, there are still several opportunities for planning surrounding the new tax laws. One thing is for certain, you should consult your tax advisor to determine the impact to you and your business.

You can see a summary of some of some of the most applicable tax changes here.