I have been waiting with bated breath for the Vue to address the buyers in this blog, and the following comment just came in and I am making it an immediate post. I want Daniel McLean to know that this blog is not anti-Vue. It’s mission is solely to help buyers navigate through some difficult decisions they have ahead on whether to close on their units. It is the buyers who have gotten together in this extremely perilous economic environment to figure out using the “wisdom of crowds” what to do. Daniel, we are currently in conversation with knowledgeable Uptown Real Estate brokers on pricing. There will be posts on this in the coming days. This blog is wide open for you should you decide to use it to make the information more complete or to correct any “gross inaccuracies.” Anything that is inaccurate is not intentional. If it is only naysayers we hear from then it is only naysaying we can post. We have no visibility into the 1:1 conversations you are having except for the conversations each of us has with the sales team. It is your call as to how best to protect your investment and service your customers. I thank you for this post and I hope you will continue to clarify any misinformation and make the case for the Vue. We all have a vested interest in it being a success. If you read the blog, you will see one theme where there is agreement…we think it is going to be a great product and we can’t wait to see what you have built.
From the desk of Daniel McLean, Developer of The Vue Charlotte
I have been made aware of these blog postings. I am only responding to these particular issues on a one time basis due to gross inaccuracies stated regarding The Vue Charlotte. Any valid questions or comments may be directed to The Vue’s sales team.
We have a construction manager and a marketing/sales/project manager on location in Charlotte, each with over 20 years of experience, specifically in high rise residential projects. We have hired a very experienced and well respected management company to manage the building. This company has hired a property manager that over the last five years has opened three high rise condo buildings and is well qualified to open The Vue Charlotte.
There are three particular areas I would like to specifically address:
1) The Charlotte real estate market: As one blogger (Cristian) has already addressed and provided some good comments on this issue, you cannot compare the Charlotte real estate market with the Orlando real estate market. Real estate markets are not only individual as to cities, but are individual neighborhoods and can change on a block-by-block basis. Supply and demand, as mentioned, is what sets markets. The overbuilt conditions of Orlando, Phoenix, and Las Vegas are not at all related to the more stable real estate market of Charlotte.
2) The Developer/Development: The only common bond between The Vue Orlando and The Vue Charlotte, is that I chose to purchase the development property from The Vue Orlando developer. The Vue Orlando developers were inexperienced in the high rise development market. Our development team has developed over 4,000 residential units over the past 30 years, including 10 high rise developments in the last 10 years across the United States. The senior members of our development team each have between 15 to 30 years of development experience. The development team did have the opportunity to tour The Vue Orlando prior to the finalization of the design of The Vue Charlotte. We were able to redesign The Vue Charlotte to be a much higher quality building and product than The Vue Orlando. The development team has made sure that this high quality level is shown throughout the building in the finishes, as well as the structure.
3) Financing: I realize that financing is much more difficult to obtain these days, but it is still achievable for most buyers. We are working with our preferred lenders to offer lending programs that are very competitive for the qualified buyers. These preferred lenders are very familiar with the building and are able to do everything they can to make financing available. As I have previously stated on interviews, we will work with buyers on a case-by-case basis to help obtain financing. If the buyer can find a relative or friend to help with the purchase, we will add them to the contract. We will also consider another buyer to replace a buyer that is not in a position to close any longer.
As far as the project financing is concerned, our construction lenders are considered our partners. They have committed to stay with this project until the building is completed and sold out, whether that takes 1, 2 or 3 years to complete. The building will not become a rental building. It will be a for-sale condo building.
We are glad to hear from not only the naysayers, but also from the silent majority of buyers who are excited to close on their unit in such a wonderful new building. I feel The Vue Charlotte is a great addition to the Charlotte real estate market.