Prepared For:
December 2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Golf
G
G
G
Strengths:
• Improving regional access via the extension of I-485
• Abundance of stable neighborhoods in a relatively quiet suburban setting
Study area includes park space and public golf
• Solid access to neighborhood retail, including numerous grocery stores
• Access to several elementary schools, a middle school and several private schools
• Close to University Research Park and adjacent office employment
Golf
Stable Neighborhood
G
G
G
Challenges:
• Access today is somewhat limited and area lacks regional access beyond URP.
• Area still lacks a sense of place and location, with village concept partially formed, but needing to advance further.
• Access to community and regional-serving retail has been limited in the past, but will improve in coming years.
• Access to office uses, both local and regional-serving, has been limited.
Opportunities:
• Further a sense of neighborhood location and tie different land uses together to create a whole greater than the sum of its parts
• Further the sense of value and location in the area to enhance home price appreciation, rent and lease growth, and demand for residential and commercial products.
• Broaden housing offerings in the area to appeal to a wider array of market audiences.
SWOT
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Industry Sector
Agriculture, Forestry, Fishing and Hunting
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation and Warehousing
Information
Finance and Insurance
Real Estate and Rental and Leasing
Professional, Scientific, and Technical Services
Management of Companies and Enterprises
Admin. & Support, Waste Mgt and Remediation
Educational Services
Health Care and Social Assistance
Arts, Entertainment, and Recreation
Accommodation and Food Services
Other Services (excluding Public Administration)
Public Administration
Total
Prosperity-
Hucks
0
42
62
171
296
58
2
40
29
85
0
23
41
231
80
423
72
2
1,657
Northeast
District
Charlotte ETJ
8,714
932
3,702
1,099
4,932
4,372
4,608
591
5,938
952
88
62,132
120
3,079
5,129
6,235
5,701
3,209
2,731
338
22,360
28,715
35,429
49,286
22,791
18,075
37,762
8,922
39,766
19,730
39,400
14,958
62,944
9,922
42,951
12,046
12,969
478,364
Location Quotient
(Study Area to NE
District)
0.2
0.4
1.9
5.1
2.7
0.2
1.2
0.9
0.0
2.8
0.9
1.0
0.0
0.5
0.5
1.0
1.9
0.7
0.0
The Prosperity-Hucks area is not a significant employment area today, with the greatest concentrations of employment being in local-serving industries, including restaurants (Food Services), Health Care, and Retail Trade. The majority of these jobs are low to moderate-paying, with higher -paying professional services and Finance & Insurance jobs being located closer to the University Research Park.
Relative to the Northeast District, and particularly to the county overall, the area is lacking in higher paying Finance &
Insurance and Professional Services jobs--jobs which are largely located around Center City and in areas south.
Location Quotient Relative to NE District
Construction
0.54
0.51
Manufacturing
0.62
0.45
Wholesale Trade
1.39
1.03
Retail Trade
1.73
1.95
Transportation and
Warehousing
0.73
0.68
Information
0.03
0.03
Finance and Insurance
0.31
0.17
Real Estate and Rental and
Leasing
0.94
Professional, Scientific, and
Technical Services
0.62
0.86
Management of Companies and Enterprises -
Admin. & Support, Waste Mgt and Remediation
0.17
0.17
1.17
Educational Services
0.79
0.35
Health Care and Social
Assistance
Arts, Entertainment, and
Recreation
Accommodation and Food
Services
Other Services (excluding
Public Administration)
Public Administration
0.04
0.85
1.06
1.88
2.33
1.73
2.84
2.67
2.84
- 1.00 2.00 3.00 4.00 5.00
Rel to Meck Cty Rel to NE District
SOURCE: Noell Consulting Group based on data obtained from the US Census Bureau via LED on the Map.
ZIP Emp Gro
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
$120,000
Under 35
35 to 54
70 to 79
$60,000
$47,888
$40,000
$31,582
18%
50%
6%
6%
Median Income by Age Cohort, Study Area and the Charlotte ETJ
22%
50%
18%
$99,755
5%
5%
$59,890
$50,661
$87,699
$65,110
$78,956
$56,399
$58,644
$36,648
$40,919
$29,108 $26,311
$23,224
$20,000
Overall, households in the Prosperity-
Hucks area are more affluent than those found in the Charlotte ETJ. Of particular note is the lack of low-income households in the area and the high amount of middle- to upper-middle income households (those earning between $75,000 and $150,000), which equates to home prices of around
$200,000 to $400,000.
$0
Age 15 - 24 Age 25 - 34 Age 35 - 44 Age 45 - 54
Prosperity Hucks
Age 55 - 64
Charlotte ETJ
Age 65 - 74 Age 75 - 84 Age 85+
30%
25%
20%
15%
10%
5%
Prosperity HuckCharlotte ETJ
Under $25k
$25k - $35k
$35k - $50k
$50k - $75k 20%
$75k - $100k
$100k - $150k
$150k and Ab
5.7%
3.6%
8.0%
21.5%
22.1%
25.9%
13.2%
20%
12%
17%
21%
12%
11%
17%
21%
21%
22%
12%
26%
11%
8%
6%
4%
0%
Under $25k $25k - $35k $35k - $50k $50k - $75k
Prosperity Hucks Charlotte ETJ
$75k - $100k $100k - $150k
Source: Claritas, Inc.
13%
8%
$150k and Above
Demographic Summary
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
70%
60%
50%
40%
30%
20%
10%
0%
20%
27%
24%
64%
61%
Characteristics of Northeast Planning District Workers and Residents
64%
Overall, residents of the Northeast District tend to be slightly younger and slightly less affluent than those working in the area.
16%
13% 13%
16%
20%
17%
35%
39%
38%
49%
41%
45%
29 or younger 30 to 54 55 or older
Workers Residents
Earning Under $1,250/mo. Earning $1,251 to $3,333/mo. Earning More than $3,333/mo.
Workers and Residents
Comparison of Study area Residents and Workers, and Northeast Planning District Residents and Workers
80%
70%
60%
50%
40%
30%
20%
10%
0%
24%
27%
35%
20%
64%
61%
54%
64%
Study area resident profiles are very similar to those who work in the larger Northeast
District overall, reflecting the short commute distances many opt to have in the area.
Given the nature of employment in the area, it is not surprising that local employees
12% 13% are younger and lower-paid relative to area residents.
11%
16%
29 or younger 30 to 54
Study Area Residents
SOURCE: Noell Consulting Group based on data obtained from the US Census.
55 or older
NE Residents
17%
20%
30%
16%
32%
39% 40%
35%
Earning $1,250 per month or less
Study Area Workers
Earning $1,251 to
$3,333 per month
NEWorkers
51%
41%
30%
49%
Earning more than
$3,333 per month
LED Stats
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
National Trends/Factors
- Spending by US consumers continues to gain momentum as economy improves.
- National chains still paring marginal stores/consolidating to more strategic locations--very few in expansion mode
- Lifestyle/"experiential" retail on the rise--particularly retail in more walkable formats
- Large-scale fallout in commercial lending claiming poorly situated/conceptualized centers
North East Charlotte Trends/Factors
- Northeast Mecklenburg retail market dominated by power centers and mainline retail tenants
- Little exists today in terms of lifestyle or Main Street retail--centers that have sustainability and "holding power"
- Vacancy rates remain stubbornly high, fueled in part by cannibalistic retail environment, including competition beyond Mecklenburg County
- Retail rents are relatively low overall, reflecting the oversupply that exists in the market today.
Prosperity Hucks Study Area
- Features significant neighborhood retail, including an oversupply of grocery stores
- Current retail environment largely comprised of auto-oriented neighborhood retail centers with plenty of "in-line" tenant space
- Retail rents are relatively cheap, reflecting what today is a secondary retail location with moderate demand.
- Area currently lacks any big boxes or destination retail users, although the Walmart under construction at Bryton will help to fill that role.
- As I-485 opens, retail opportunities will increase in the study area and potential will open up for big-box users such as Target and discount clothiers
- Additional undersupply exists for a number of tenant types, including dining opportunities, both full-service and limited-service
- Ongoing growth at Bryton will continue to add to competitive supply and will temper demand growth in the future and may satiate location opportunities that exist today between I-77 and I-85.
SOURCE: Noell Consulting Group
Retail Market Overview
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Prosperity/Hucks
Largely serves as a neighborhood-serving retail core anchored by grocery, drug stores, and local-serving retail and office users. While we do not anticipate big box retailers being attracted to the Prosperity-Hucks area, it is worth noting the significant distance that exist between this area and other big box cores, most of which are five or more miles away. Bryton has the potential to capture this market, but the study area geographically is well-positioned to catch these retailers attention.
Neighborhood-
Serving Retail
N'hood to
Community-
Serving Retail
Regional-
Serving
Retail
Neighborhood-
Serving Retail
Regional-
Serving
Retail
Retail Cores Map
12/19/2012
Neighborhood-
Serving Retail

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
District
Central Square Feet Totals
Central Capture
North Square Feet Totals
North Capture
Northeast Square Feet Totals
Northeast Capture
Prosperity-Hucks Feet Totals
Prosperity-Hucks Capture
Northwest Square Feet Totals
Northwest Capture
South Square Feet Totals
South Capture
Southeast Square Feet Totals
Southeast Capture
Southwest Square Feet Totals
Southwest Capture
Total
140,000
2000 2001
Retail Development by Year (Square Feet)
2002 2003 2004 2005 2006 2007 2008 2009 2010 Totals
494,659
16.0%
538,947
19.9%
213,579
17.3%
85,998
7.8%
97,796
4.1%
1,051,165
26.5%
341,876
14.5%
346,476
22.6%
776,110
27.4%
106,929
15.2%
111,999
22.2%
4,165,534
19.7%
448,166
14.5%
327,601
12.1%
203,521
16.4%
245,807
22.4%
232,175
9.8%
109,021
2.7%
67,310
2.9%
412,410
26.8%
147,123
5.2%
36,451
5.2%
83,537
16.6%
2,313,122
10.9%
602,550
19.5%
235,382
8.7%
28,147
2.3%
119,439
10.9%
484,281
20.5%
169,416
4.3%
338,650
14.4%
166,295
10.8%
308,219
10.9%
293,411
41.7%
108,836
21.6%
2,854,626
13.5%
60,974
10.1%
14,660
6.2%
-
0.0%
-
0.0%
114,688
23.7%
14,041
8.3%
24,675
7.3%
20,574
12.4%
-
0.0%
4,791
1.6%
-
0.0%
254,403
8.9%
43,231
1.4%
113,682
4.2%
58,144
4.7%
35,325
3.2%
230,837
9.8%
1,370,287
34.6%
78,367
3.3%
107,520
7.0%
682,377
24.1%
132,888
18.9%
-
0.0%
2,852,658
13.5%
1,080,489
34.9%
484,779
17.9%
361,864
29.2%
270,701
24.6%
679,288
28.8%
803,222
20.3%
770,511
32.8%
379,743
24.7%
451,620
16.0%
35,593
5.1%
188,196
37.3%
5,506,006
26.0%
191,120
6.2%
788,164
29.1%
138,170
11.2%
209,005
19.0%
517,696
21.9%
276,692
7.0%
133,684
5.7%
84,042
5.5%
58,629
2.1%
45,595
6.5%
8,062
1.6%
2,450,859
11.6%
235,690
7.6%
221,560
8.2%
233,892
18.9%
132,485
12.1%
120,487
5.1%
185,596
4.7%
622,036
26.4%
39,554
2.6%
403,787
14.3%
53,494
7.6%
3,888
0.8%
2,252,469
10.6%
3,095,905 2,710,115 1,237,317 1,098,760 2,362,560 3,965,399 2,352,434 1,536,040 2,827,865 704,361 504,518 21,186,395
25%
120,000
Prosperity-Hucks Square Feet Delivered
Prosperity-Hucks Capture of NE District
2000
60,974
10.1%
2001
14,660
6.2%
2002
-
0.0%
2003
-
0.0%
2004
114,688
23.7%
2005
14,041
8.3%
2006
24,675
7.3%
2007
20,574
12.4%
2008
-
0.0%
2009
4,791
1.6%
2010
-
0.0%
80,000
60,000
40,000
20,000
-
2000 2001 2002 2003 2004
Prosperity-Hucks Square Feet Delivered
2005 2006 2007
Prosperity-Hucks Capture of NE District
2008 2009 2010
SOURCE: Charlotte-Mecklenburg Planning Department
20%
15%
10%
5%
0%
Retail Del. by District
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
9
2
10
3
5
7
8
Retail Properties
1 Cheshire Place
2 Eastfield Shopping Center
3 Prosperity Shopping Plaza
4 Shoppes at Davis Lake
5 Shoppes at Highland Creek
6 Terraces at Cheshire
7 Cochrane Commons
8 The Arbors
Planned Properties
9 Huntersville Market (60,000 SF)
10 Walmart at Bryton (150,000 SF)
4
1
6
SOURCE: Noell Consulting Group and Mecklenburg Planning Department (Map)
Retail Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Center Name
Cheshire Place
Eastfield Shopping
Center
Prosperity Shopping
Plaza
Shoppes at Davis Lake
Shoppes at Highland
Creek
Terraces at Cheshire
Cochrane Commons
The Arbors
Center Photo Year Built Total SF
1990
2004 cnd
2005
2000
2001
2003
2007
2001
54,840
87,492
64,638
90,820
66,517
19,532
66,020
49,323
62,398
SF Avail.
15,679
% Occ.
Type
Quoted Lease
Rates Anchor Tenant
71%
Conv.
Neigh- borhood
$8.00
- $15.00
Tuesday Morning
Other Tenants
Rite Aid, Subway,
Domino's
4,270
4,000
11,800
3,932
3,114
0
1,000
5,474
87%
Conv.
Neigh- borhood
$21.00
- $24.00
94%
Conv.
Neigh- borhood
$20.00
- $20.00
87%
Conv.
Neigh- borhood
$20.00
- $23.00
201 Central
Bi-Lo
H&R Block, Golds Gym,
Bank of America, ABC former Blockbuster, smaller shops
Harris Teeter
Chick-fil-A, Taco Bell,
H&R Block, UPS Store
94%
Conv.
Neigh- borhood
$21.00
$21.00
84%
Conv.
Neigh- borhood
$21.00
- $23.00
Harris Teeter
-
Subway, Great Clips,
Dilworth Coffee
Jason's Deli
100%
Conv.
Neigh- borhood cnd cnd
98%
Conv.
Neigh- borhood
$25.00
- $25.00
91% $19.43
$21.57
Harris Teeter
Walgreen's, McAllister's,
FastMed
Trader Joe's Massage Envy, Petco
Summary, Other Nearby Centers
SOURCE: Noell Consulting Group
Retail Summary
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Store Type (excl.
Autos & Gas)
2012 Population, Trade Area
Furniture and Home Furnishings
Furniture Stores
Home Furnishing Stores
Electronics & Appliance Stores
Bldg Mats., Garden Equip
Bldg Materials & Supply Stores
Lawn & Garden Equipment
Food & Beverage Stores
Grocery Stores
Specialty Food Stores
Beer, Wine & Liquor Stores
Health & Personal Care
Clothing & Clothing Accessories
Clothing Stores
Shoe Stores
Jewelry, Luggage & Leather
Sports, Hobby, Book & Music
Sports, Hobby, Musical Inst
Book & Music Stores
General Merchandise Stores
Department Stores
Other Gen. Merch. Stores
Miscellaneous Store Retailers
Florists
Office Supplies, Station. & Gifts
Used Merchandise Stores
Other Misc. Store Retailers
Food Service & Drinking Places
Full-Service Restaurants
Limited-Service Eating Places
Special Food Services
Drinking Places
TOTAL
Local Expenditure
Potential
1
Per Capita
Est. Sales/
SF
37,029
$14,051,570
$7,823,650
$6,227,920
$14,077,787
$67,405,229
$59,917,737
$7,487,492
$77,182,631
$66,460,055
$5,553,038
$5,169,538
$34,887,224
$33,381,892
$24,764,725
$3,957,417
$4,659,750
$12,753,664
$9,871,409
$2,882,255
$82,889,785
$35,261,780
$47,628,005
$17,467,893
$869,798
$6,084,811
$1,793,590
$8,719,694
$70,378,896
$32,933,362
$28,674,675
$5,572,974
$3,197,885
$424,476,571
$379
$211
$168
$380
$1,820
$1,618
$202
$2,084
$1,795
$150
$140
$942
$902
$669
$107
$126
$344
$267
$78
$2,239
$952
$1,286
$472
$23
$164
$48
$235
$1,901
$889
$774
$151
$86
$11,463
$328
$334
$241
$397
$458
$386
$368
$350
$595
$258
$264
$251
$413
$318
$321
$293
$253
$253
$188
$308
$444
$333
$193
$500
$285
$329
$365
$246
$188
$256
$157
$215
$226
Demand
Potential
54,447
29,635
24,812
34,087
212,021
186,466
25,555
235,344
199,281
23,042
13,022
76,173
86,480
67,341
11,307
7,832
38,799
27,082
11,716
441,104
137,741
303,363
81,370
3,849
24,051
7,089
46,381
228,308
106,927
86,110
28,876
6,396
1,488,132
Less Expenditures
Away from Home
No. of
Retail
Emps
-10%
49,498
26,941
22,557
30,988
192,746
169,515
23,231
213,949
181,164
20,947
11,838
69,248
78,618
61,219
10,279
7,120
35,271
24,620
10,651
401,004
125,219
275,785
73,973
3,499
21,864
6,445
42,165
207,553
97,206
78,282
26,250
5,814
1,352,847
67
11
11
0
0
389
374
4
11
88
75
13
24
57
44
13
59
41
4
1,163
504
645
7
7
1,950
0
27
106
2
18
9
9
27
SF per
Retail
Emp.
Est. Supply
Net
Demand
Store Types w/ Pos Dmd
500
500
500
1,000
500
700
500
500
500
500
500
500
500
500
700
700
500
500
500
500
150
100
150
200
44,000
37,500
6,500
12,000
50,500
44,000
6,500
269,300
261,800
2,000
5,500
48,500
5,500
5,500
0
0
9,000
4,500
4,500
168,900
0
168,900
53,000
1,000
29,500
20,500
2,000
142,550
75,600
64,500
1,050
1,400
803,250
5,498
-10,559
16,057
18,988
142,246
125,515
16,731
-55,351
-80,636
18,947
6,338
20,748
73,118
55,719
10,279
7,120
26,271
20,120
6,151
232,104
125,219
106,885
20,973
2,499
-7,636
-14,055
40,165
65,003
21,606
13,782
25,200
4,414
549,597
16,057
16,057
18,988
142,246
125,515
16,731
25,285
18,947
6,338
20,748
73,118
55,719
10,279
7,120
26,271
20,120
6,151
232,104
125,219
106,885
42,664
2,499
40,165
65,003
21,606
13,782
25,200
4,414
662,483
1
Based on data obtained from Claritas.
SOURCE: Noell Consulting Group, Claritas, Inc.
Retail Dmd--2013
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Demand by Store Type, 2013
2011
2015
Furniture Stores
2030
Bldg Materials & Garden Supply
163,101
181,100
199,462
218,193
16,057
18,988
16,731 Lawn & Garden Storse
Grocery Stores
Specialty Food Stores
Beer, Wine, Liquor Stores
Health & Personal Care
Clothing Stores
Furniture Sto 29,863
Home Furnis 12,042
Shoe Stores
Appliances, T
Jewelry, Luggage, Leather
Computer & S 6,253
Camera/Phot 1,036
Building Mate ######
Grocery Stor 89,573
Books & Music Stores
Beverage Sto 4,646
Health/Perso General Merchandise
Clothing Stor -3,797
Shoe Stores 10,062
Jewelry/Lugg
Florists
Used Merchandise
Piece Goods
Full Service Restaurants
Office Suppli 10,399
Ltd. Service Restaurants
General Merc 261,295
Full Service R######
Limited Servi
Special Food Services
Drinking Plac -177 Drinking Places
125,515
-80,636
18,947
6,338
20,748
Drinking Places
Ltd Service Restaurants
55,719
-177
74,523
General Merchandise Stores
-161,754
261,295
Florist
Book Stores
Music Instruments
Piece Goods/Sewing
Hobby/Toy Stores
10,399
-5,840
-2,712
-4,472
512
125,219
2,499
Jewelry/Luggage/Leather
-7,636 Shoe Stores
-14,055
40,165
-32,019
7,128
10,062
21,606
Computer & Software
13,782
Appliances, TVs & Electronics
Home Furnishing Stores
6,253
-2,642
12,042
29,863
4,414
-100,000 -50,000 0 50,000 100,000 150,000
1,200,000
1,000,000
800,000
Estimated Retail Demand by Year--Prosperity-Hucks
600,000
536,069 536,069
400,000
200,000
614,275
464,275
805,909
505,909
1,031,337
431,337
0
2013 2020
Estimated Net Retail Demand Assuming Bryton
Estimated Net Retail Demand w/o Bryton
2025
Demand Indicators for Key Retail/Food Store Types
Opportunity for
Category
Study Area
Grocery Store Good
Comments
Market appears overbuilt, even without groceries at
Mallard Crk/ Mallard Crk Ch.
Health/Personal Care
Clothing Stores
Good
Moderate
Support exists for additional drug store
Lack of supply, but fundamentals don't exist in area
Fair
Demand exists, but being captured at Northlake Mall
Department Stores
General Merchandise/
Big Box
Full-Service,
Limited-Service
Good
Moderate
Definite opportunity exists in the study area if so desired, although not consistent with previous vision.
Lack of supply in the area that will be enhanced by I-485 opening and creation of stronger "location in the market.
SOURCE: Noell Consulting Group for ZIP 28269.
Retail Dmd
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Several short- and long-term retail opportunities exist in the study area:
- Pull existing retail centers together via streetscaping, key design elements and infilling of neighborhood retail to create greater sense of a core;
- Infill restaurants and other food opportunities and add residential components to core;
- Recognize potential for big box retail and address through planning process
Bryton will provide long-term regional retail, although potential exists for big box users to look east to a more centralized location.
Pull existing retail together into a more consistent core that provides a sense of local destination
Interchange of I-485 and
Prosperity Church, and lack of big box retailers within four to five miles of location create potential for big box, if so desired.
Access/Visibility
Traffic volumes meet neighborhood retail thresholds, I-485 will enhance regional opps.
Quality Sites
Few currently exist and entitlements likely a challenge
Relationship to Other Retail
Overly competitive neighborhood retail market, but lack of regional/big box retail in the area
Housing
Moderate to low-density area appropriate for neighborhood retail and potentially some discount/big box users--area still lacks sense of location and destination (on a local level).
Summary of Retail Demand
Total Demand 2011-2030 Potential Acres 2011-2030
444,329 41.7
NOTE: Acreage estimates are gross and could include intensification of existing land uses in the market and thus are not necessarily net new acres needed.
Retail Opportunities
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Macro Trends/Factors
- Moderate demand continuing to push positive absorption overall in 2012.
- Demand greatest in Center City/CBD followed by Southside office cores where fundamentals are strongest
- Office locations in areas with higher quality of life preferred both for retention and attraction of employees
Greater emphasis on walkable locations and mixed-use environments to attract strongest new talent
Northeast/North Charlotte Office Market
- I-77 North area continues to outperform the University area, gaining market share over the past decade while the University area has failed to keep up;
- Both areas have seen week office demand in 2012 and have actually seen negative absorption, albeit not too significant
- Rents have remained relatively flat in both cores, with both remaining relative value plays to the CBD and Southside cores
Fair Share Capture Ratio
(above 1.0 gaining market share)
3.32
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
0.60
1.33
Downtown Cotswold
1.36
Crown
Point
1.01
1.06
2.19
0.75
2.12
0.45 0.45
0.61
East Midtown NC
51/South
I-77 North University Northwest Park Road Southpark Airport/SW
- Neither have been able to establish a sense of location and a central core area
- Incomes around Lake Norman favor stronger long-term demand relative to University area, which generally lacks executive housing
Prosperity-Hucks Area
- Area's lack of regional access and historically fringe suburban location has tempered office demand;
- Continuing residential growth and lack of local-serving uses (medical, Realtors, accountants, etc) create opportunities to infill office in the study area;
- Regional-serving office not a realistic opportunity in the study area given lack of executive housing and stronger locations in the I-77 corridor;
- Potential to attract local-serving office users through enhancing mixed-use, walkable environment in the core of Prosperity-Hucks and provide a lifestyle
- that is largely missing in Northeast Mecklenburg today.
Office Market Overview
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Executive Housing
Office Core
Freeway Network
On a regional level the Prosperity-Hucks area has not offered the key factors needed to attract larger-scale office development:
- The area is not proximate to a significant base of executive housing, most of which can be found south of Center City with a secondary core around Lake
Norman;
- The area has also lacked access to the region's freeway network, something that will change in the next few years.
In the coming years Bryton and the I-77 North Corridor will likely account for a large share of "northside" multi-tenant office tenant growth while University
Research Park will account for the larger, back-office corporate users.
On a local level the Prosperity-Hucks study area lacks the demand generators and regional access found at nearby freeways.
The local/neighborhood-serving orientation of the retail already in the area, and the low-density environment found around
Prosperity-Hucks indicate a more local-serving office play may be most appropriate.
These factors, combined with the lack of nearby local-serving office cores, indicate a moderately-strong opportunity for neighborhood-type office uses.
Office Context Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Downtown
Cotswold
Crown Point
East
Midtown
NC 51/South
I-77 North
University
Northwest
Park Road
Southpark
Airport/SW
Totals
YE 2011
Ttl Space Vacant Occ'd Share
22,064,185
371,604
1,820,306
3,053,903
4,585,895
6,197,602
3,375,846
6,592,281
559,678
1,187,581
3.6%
17.8%
5,027,687 17.9%
11,691,584 20.6%
66,528,152 14.5%
11.1% 19,615,060 34.5%
12.5% 325,154 0.6%
16.6% 1,518,135 2.7%
12.9% 2,659,950
9.1% 4,168,579
15.8% 5,218,381
14.3% 2,893,100
15.9% 5,544,108
4.7%
5.1%
9.2%
5.1%
9.7%
539,530
976,192
4,127,731
0.9%
1.7%
7.3%
9,283,118 16.3%
56,869,036
Average Rents
2005
Annual
2011 Change
$20.27
$14.19
$16.65
$13.98
$18.54
$19.93
$19.03
$17.09
$14.19
$15.67
$20.44
$16.20
$18.11
$23.14
$20.26
$15.14
$13.29
$18.79
$23.90
$17.98
$17.25
$9.71
$16.31
$21.74
$15.90
$19.42
2005 2006
Annual Absorption (Square Feet)
2007 2008 2009 2010 2011 Total Share
2.4%
7.1%
-1.5%
-0.8%
0.2%
3.3%
-0.9%
0.2%
378,668
11,910
170,059
75,429
166,980
-990
-42,816
9,798
111,967 152,951
430,453 507,054
154,988 250,269
401,160 80,040
362,963
-2,292
67,027
87,161
108,192
43,606 -203,682
33,204
83,966
-6,928
10,363
69,822 138,222
71,309 47,636
498,127 177,968 108,472
121,046 -23,083
56,780 -10,088
-52,658
41,148
457,047
20,092
-34,447
49,322
13,737
270,532
248,070
-54,538
379,149
3,624
25,835
-66,905
102,247
48,736
1,584,731 20.5%
58,620
279,987
0.8%
3.6%
362,849 4.7%
418,341 5.4%
359,660 2,352,266 30.5%
159,880 858,512 11.1%
563,238 7.3%
-5.3%
0.7%
-99
-23,046
26,547
52,544
-10,605
-19,564
-3,942 105,225
13,411 -22,489
35,025
42,303
2,624
16,588
154,775 2.0%
59,747 0.8%
1.1% 194,110 16,458 340,648 -37,708 -290,008 -17,488 47,689 253,701 3.3%
-0.3% 101,876 318,015 384,748 359,860 -376,586 19,498 -42,541 764,870 9.9%
1.2% 2,007,475 1,536,850 1,994,231 778,325 -501,285 1,049,153 1,036,586 7,711,637
Capture
Ratio
0.60
1.33
1.36
1.01
1.06
3.32
2.19
0.75
2.12
0.45
0.45
0.61
500,000
400,000
300,000
2008 13,411
2009 -22,489
2010 42,303
2011 16,588
401,160
7.7% 401160
16.3% 80040
6.1% 56780
-3.0% -10088
10.5% 41148
23.6% -54538
15.4% 48736
20.0%
5.2%
2.8%
-1.3%
-8.2%
-5.2%
4.7% Average Abs. 2005 - 2011:
I-77 North: 122,000 SF
University: 80,500 SF
200,000
100,000
52,544
80,040
56,780
41,148 42,303
13,411
0
-23,046 -19,564
-10,088
-22,489
-100,000
-54,538
I-77 North University I-77 Capture of Meck University Capture of Meck
NOTE: Capture ratio is the ratio of the percent of space absorbed in a submarket over that submarket's share of total existing space at the beginning of that period.
Source: Colliers; CoStar; Noell Consulting Group
Office Abs. Trends
12/19/2012
16,588
48,736
30%
25%
20%
15%
10%
5%
0%
-5%
-10%

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
District
Central District Totals
Central Capture
North District Totals
North Capture
Northeast District Totals
Northeast Capture
Prosperty Hucks District Totals
Prosperty Hucks Capture
Northwest District Totals
Northwest Capture
South District Totals
South Capture
Southeast District Totals
Southeast Capture
Southwest District Totals
Southwest Capture
Mecklenburg County
25,000
2000 2001 2002 2003
Office Delivered by Year (Square Feet)
2004 2005 2006 2007 2008 2009 2010 Totals
1,384,641
32.7%
1,232,950
43.8%
152,280
16.4%
39,421
2.6%
116,399
9.0%
153,382
8.7%
115,180
6.9%
217,727
12.1%
2,071,552
57.9%
503,504
14.1%
894,251
25.0%
6,881,287
35.1%
146,058
3.4%
330,201
11.7%
38,695
4.2%
185,642
12.3%
130,159
10.0%
133,521
7.6%
78,870
4.7%
300,517
16.7%
85,494
2.4%
60,389
1.7%
15,846
0.4%
1,505,392
7.7%
1,187,418
28.0%
454,052
16.1%
374,432
40.4%
268,182
17.8%
53,067
4.1%
193,312
10.9%
129,551
7.8%
84,412
4.7%
44,748
1.3%
10,760
0.3%
-
0.0%
2,799,934
14.3%
-
0.0%
-
0.0%
19,740
5.3%
2,368
0.9%
12,467
23.5%
-
0.0%
14,525
11.2%
7,284
8.6%
-
0.0%
-
0.0%
-
0.0%
56,384
2.0%
18,251
0.4%
14,912
0.5%
11,458
1.2%
20,644
1.4%
7,732
0.6%
11,914
0.7%
25,154
1.5%
21,008
1.2%
123,465
3.5%
-
0.0%
3,750
0.1%
258,288
1.3%
461,755
10.9%
534,215
19.0%
243,804
26.3%
626,881
41.7%
422,664
32.6%
560,582
31.7%
704,810
42.4%
634,025
35.1%
586,984
16.4%
9,832
0.3%
1,229
0.0%
4,786,781
24.4%
37,558
0.9%
2,227
0.1%
166,240
17.9%
26,830
1.8%
78,792
6.1%
53,388
3.0%
58,740
3.5%
38,002
2.1%
76,248
2.1%
15,914
0.4%
13,748
0.4%
567,687
2.9%
902,533
21.3%
216,889
7.7%
23,064
2.5%
192,833
12.8%
188,408
14.5%
60,602
3.4%
342,972
20.6%
474,206
26.3%
589,599
16.5%
25,444
0.7%
213,077
6.0%
3,229,627
16.5%
4,234,636 2,812,025 926,763 1,503,802 1,298,501 1,766,464 1,663,840 1,804,612 3,578,090 3,578,090 3,578,090 19,588,733
25%
Prosperty Hucks Capture of Northeast Di
-
0.0%
2001
-
0.0%
2002
19,740
5.3%
2003
2,368
0.9%
2004
12,467
23.5%
15,000
12,467
2005
-
0.0%
2006
14,525
11.2%
14,525
2007
7,284
8.6%
2008
-
0.0%
2009
-
0.0%
2010
-
0.0%
20%
15%
10,000 10%
7,284
5,000 5%
2,368
-
-
2000
-
2001 2002 2003 2004
Prosperty Hucks Study Area Totals
- -
2005 2006 2007 2008
Prosperty Hucks Capture of Northeast District
-
2009
-
2010
0%
SOURCE: Charlotte-Mecklenburg Planning Department
Office Del. by District
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
8
7
6
2
3
1
5
4
Office Properties
1 Prosperity Place
2 Linville Building
3 Harris Corners
4 640 W. Mallard Creek Ch
5 Mallard Professional Center III
6 Rosedale Medical Center
7 Shoppes at Birkdale Crossing
8 215 S. Main Street
SOURCE: Noell Consulting Group and Mecklenburg Planning Department (Map)
Office Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Photo Project Name
Prosperity Place I - III
Year Built # of Floors
1999 - 2001 3 - 4
Total SF
214,062
Vacant SF
93,164
% Occupied Current Lease Rates
56% $17.00
- $17.50
Comments
Three-bldg project-adjacent to URP
Linville Building 2008 5 125,000 7,629 94% $21.50
- $21.50
Spec office building by
Northlake Mall
Harris Corners Corporate
Park
2006
640 W. Mallard Creek Ch.
Road
2008
Mallard Professional
Center III
2004
Rosedale Medical Center 2005
Shoppes at Birkdale
Crossing
2009
215 S. Main
Summary, Regional Properties:
Summary, Smaller Properties:
SOURCE: Noell Consulting Group
Office Summary
12/19/2012
2010
2007
2007
5
2
1
2
2
3
5
2
130,000
36,913
27,785
38,249
58,757
21,000
156,354
36,541
33,867
6,780
8,848
1,650
3,755
3,000
44,887
4,807
74%
82%
68%
96%
94%
86%
71%
87%
$19.75 - $19.75
Most recent office addition to I-77 Corridor
$10.00
- $14.00
2nd floor office mixed with retail
$15.00
$15.00
Smaller, local-serving firms
$23.00
- $23.00
Medical office space in mixed-use environment
$26.00 - $29.00
Across from Birkdale
Village
$19.00 - $19.00
$19.42 - $19.58
$18.60 - $20.00
Downtown Davidson walking atmosphere

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Significant depth exists in the area for local-serving office tenants, many of which are located in retail centers today or are in nearby areas such as the University City core or along I-77. Assuming a better than fair share capture of demand, we believe the Prosperity-Hucks area can support around
60,000 square feet of local-serving office and 25,000 square feet of demand from retail-using services.
Industry
Code
Industry Code Description
Metro Firms
Less Than
19 Emps
Metrowide SF
@ 250
SF/Employee
Metrowide
Approx.
SF Per
Capita
Local Firms
Less Than
19 Emps
Approx.
SF Per
Capita
Potential
Unmet
Demand
Average
Tenant
Size
Estimated
Tenants
Supported
Typical Office Users
531 Real Estate
6214
6215
6216
8122
52231
54111
54194
541211
532
523
524
5414
6115
6116
6211
6212
6213
541213
541380
541519
Rental and Leasing Services
Securities, Financial Investments
Insurance Carriers and Related Act.
Specialized Design Services
Technical and Trade Schools
Other Schools and Instruction
Office of Physicians
Office of Dentists
Office of Other Health Practitioners
Outpatient Care Centers
Medical and Diagnostic Labratories
Home Health Care Services
Death Care Services
Mortgage and Non Mortgage Loan Brokers
Offices of Lawyers
Veterinary Services
Offices of CPAs
Tax Preperation Services
Testing Laboratories
Computer Related Services
Typical Retail Users
5172
6244
8123
8129
52211
52212
Wireless Telecommunication Carriers
Child Day Care Facilities
Dry Cleaning and Laundry Services
Other Personal Services
Commercial Banking
Savings Institutions
52213
71394
Credit Unions
Fitness and Other Rec. Centers
81211
81219
Hair, Nail, and Skin Care Services
Other Personal Services
Total, Office and Retail Users
1,789
340
354
557
213
39
267
501
673
661
125
73
102
68
60
756
111
322
179
32
60
59
368
246
221
259
15
74
179
464
128
4,472,500
850,000
885,000
1,392,500
532,500
97,500
667,500
1,252,293
1,682,500
1,652,500
312,500
182,500
255,000
170,000
150,000
1,890,000
277,500
805,000
447,500
80,000
150,000
147,500
920,000
615,000
552,500
646,250
37,500
185,000
447,500
1,160,000
320,000
23,236,043
2.49
0.47
0.49
0.78
0.15
0.05
0.37
0.70
0.94
0.92
0.17
0.10
0.14
0.09
0.08
0.26
0.15
0.22
0.25
0.04
0.08
0.08
0.51
0.34
0.31
0.36
0.02
0.10
0.25
0.65
0.18
11.78
52
1
9
11
19
16
21
11
16
3
2
5
2
4
1
1
2
2
5
0
3
0
8
7
5
7
0
0
9
15
3
240
2.14
0.86
0.45
0.66
0.12
0.04
0.37
0.45
0.78
0.66
0.08
0.08
0.04
0.04
0.08
0.16
0.08
0.21
0.21
0.00
0.12
0.00
0.33
0.29
0.21
0.29
0.00
0.00
0.37
0.62
0.12
9.88
29,844
0
3,419
9,957
2,111
1,118
117
20,816
13,193
22,272
7,802
1,644
8,578
4,552
105
8,380
6,144
1,565
3,696
3,789
0
6,986
15,577
4,630
8,670
6,110
1,776
8,763
0
2,444
4,657
208,718
2,500
-
2,500
2,500
2,500
-
-
2,000
2,000
2,000
2,000
2,500
2,500
2,000
-
2,500
2,000
2,500
2,000
2,000
-
1,500
4,900
1,500
1,500
3,000
3,000
3,000
-
1,500
1,500
3
6
5
3
2
1
3
-
2
3
95
SOURCE: Noell Consulting Group, US Census for Charlotte Metro and Zip Code 28269. Some user types discounted in local area due to factors of agglomeration.
3
1
-
3
3
2
4
1
2
2
-
12
-
-
10
7
11
4
1
-
1
Estimated
Demand By
SF
Capture,
Prosperity-
Hucks Area
58,800
24,480
83,280
147,000
8,000
2,500
7,500
4,000
-
7,500
6,000
2,500
4,000
4,000
-
30,000
-
2,500
10,000
2,500
-
-
20,000
14,000
22,000
61,200
7,500
14,700
4,500
9,000
6,000
3,000
9,000
-
3,000
4,500
208,200
Small Office Demand
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Focus on smaller, local-serving office users, those largely under 5,000 SF in size (most of those under 2,500 SF) in size.
This includes a mix of medical users, and smaller professional firms such as accountants, lawyers, architects,
Realtors--those that serve area residents.
I-485, while not enough to create a regional location, furthers the potential to attract localserving office users.
Location
Historically a low-visibility, suburban fringe location with limited appeal to local or regional-serving office. I-485 will enhance potential.
Retail/Services
Good access to retail and some services, although lacking a bit in dining opportunities.
Lifestyle
A significant office lifestyle environment doesn't exist today, as the area lacks walkability and a interactive environment.
Housing Quality
Limited amount of executive housing tempers demand for regional-serving office, although solid housing overall creates potential for local-serving office users.
Office Opportunities
12/19/2012
Create a greater sense of lifestyle in the area by furthering a mixed-use environment and enhancing walkability--providing a relatively unique environment in Northeast Mecklenburg.
Summary of Office Demand
Potential New SF 2010-2030 Potential Acres 2010-2030
97,550 9
NOTE: Acreage estimates are gross and could include intensification of existing land uses in the market and thus are not necessarily net new acres needed.

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
The improved access to the Prosperity-Hucks area will further residential opportunities in the study area; opportunities that could extend to a wider range of housing opportunities beyond conventional single-family and townhouse product. This access will complement already solid neighborhood retail access, access to area parks and greenways, and solid schools. Still missing from the area is a lack of a walkable retail or mixed-use core, something that offers strong appeal to younger singles and couples in particular.
R
Access to neighborhood retail very strong and access to regional-serving retail improving
R
Regional access enhanced significantly by I-485, including access to cores along I-77 and
I-85
R
R
R
Good access to neighborhood park, greenway, and solid schools--all attractive to families.
SOURCE: Noell Consulting Group
Residential Context Map
12/19/2012
Stable neighborhood environment with growing potential for product diversification

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
National Trends/Factors
- Demand for rental apartments remains strong in spite of weak job growth, as the for-sale market remains tight.
- Demand likely to remain strong as Gen Y's continue to grow, move out from home--long-term indicators they'll value renting more so than previous generations.
- Lending for new construction picking up--seeing construction in best locations within solid markets.
- Strongest locations for rental product are convenient areas--those close to major employment cores and in walkable environments.
- Unit sizes anticipated to decrease as renters become less interested in paying for less excess space
- Condo-level finishes have become the norm in solid locations--not your old garden-style product.
Northeast Mecklenburg Trends
- The University City/Northeast Mecklenburg area has been among the most active apartment markets in the region, accounting for 25% of area absorption
- Rental product offered has consisted almost entirely of conventional garden product, most of which is not part of a mixed-use development or walkable to retail.
- Vacancy rates have dropped significantly in the last couple of years and are now considered relatively healthy, yet slightly higher than Mecklenburg County overall;
Rent growth continues to lag that of the county overall, related in part to both the increasing demand for product in more urban locations (Center City, South End,
- Southpark) and the consistently high vacancy rates found in the area (which, again, have declined in the last year or two);
- Growth in the area is fueled by a mix of those working in the University area and I-85 corridor (including a mix of white collar and retail employees), and UNC-Charlotte students seeking university proximity.
Prosperity-Hucks Trends
- Very little product exists in or adjacent to the study area today, although two new projects are under construction or imminent nearby
(Ridge at Highland Creek and planned apartments at nearby Bryton);
- Most apartment communities developed around the area has been delivered as freestanding garden product that relies on community amenities, convenience and lower rents to provide value, as opposed to greater lifestyle offerings;
- The two strongest performing communities in the area (Worthington and Windsor at the Vinoy) both enjoy strong interstate proximity and immediate adjacency to
University Research Park and major employers in the area;
- The extension of I-485 through the study area, combined with its residential feel and access to neighborhood-serving retail, will enhance opportunities for rental
- apartment development in the coming years.
SOURCE: Noell Consulting Group
Rental Residential Overview
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
District
Intown/ Central District Totals
Intown/ Central Capture
North District Totals
North Capture
Northeast District Totals
Northeast Capture
Prosperity Hucks Totals
Prosperity Hucks Capture
Northwest District Totals
Northwest Capture
South District Totals
South Capture
Southeast District Totals
Southeast Capture
Southwest District Totals
Southwest Capture
Total
250
200
Prosperity Hucks Totals
Prosperity Hucks Capture
150
100
50
-
2000 2001
2000
835
13.1%
651
10.2%
1,472
23.1%
376
5.9%
1,425
22.3%
2001 2002 2003
482
9.3%
1,864
29.9%
771
20.4%
687
13.2%
550
8.8%
535
14.1%
888
17.1%
959
15.4%
1,102
29.1%
136
9.2%
154
17.3%
171
17.8%
130
11.8%
97
1.9%
195
3.1%
601
15.9%
1,358
26.1%
1,420
22.8%
725
19.2%
Multifamily Units Delivered by Year
2004 2005 2006
657
14.9%
495
11.2%
817
15.0%
2007
1,646
26.6%
2008 2009 2010 Totals
1,195
26.0%
1,837
73.3%
689
129.5%
8,762
18.8%
224
5.1%
603
13.7%
645
11.9%
933
15.1%
255
5.5%
106
4.2%
95
17.9%
5,083
10.9%
869
19.7%
1,839
41.7%
788
14.5%
626
10.1%
822
17.9%
162
6.5%
64
12.0%
9,591
20.6%
194
22.3%
182
9.9%
100
12.7%
236
37.7%
17
2.1%
50
30.9%
56
87.5%
1,426
14.9%
79
1.8%
1,127
25.6%
403
6.3%
894
17.2%
428
6.9%
376
9.9%
363
8.2%
990
15.5%
1,032
19.8%
220
3.5%
132
3.5%
1,079
24.5%
6,381 5,205 6,227 3,784 4,401
493
11.2%
43
0.8%
245
4.0%
558
12.1%
12
0.5%
7
1.3%
2,687
5.8%
649
14.7%
1,316
24.2%
1,634
26.4%
890
19.4%
518
20.7%
185
34.8%
10,544
22.6%
515
11.7%
4,406
183
3.4%
261
4.2%
47
1.0%
332
13.3%
214
4.9%
748
13.8%
5,439
929
15.0%
6,199
832
18.1%
736
29.4%
4,599 2,505
106
19.9%
170
32.0%
6,176
13.2%
532
3,470
7.4%
46,641
100.0%
2000
136
9.2%
2002
2001
154
17.3%
2003
2002
171
17.8%
2004
2003
130
11.8%
2005
Prosperity Hucks Totals
2004
194
22.3%
90.0%
2005
182
9.9%
2006
100
12.7%
2007
236
37.7%
2008
17
2.1%
2009
50
30.9%
2010
56
87.5%
80.0%
70.0%
1,426
14.9%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2006 2007
Prosperity Hucks Capture
2008 2009 2010
Source: Noell Consulting Group based on data obtained from the Charlotte-Mecklenburg Planning Department
MF Del. by District
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Northeast Mecklenburg, which includes the Prosperity-Hucks area, has a history of being slightly overbuilt, with vacancies averaging close to 8% since 1995. This said, the submarket has seen vacancy rates drop significantly over the last couple of years and is now approaching a 5% vacancy rate; a rate considered healthy for Class A rental apartments.
Harris Submarket
16%
14%
12%
13.0%
11.9%
10%
8%
9.6%
10.5%
9.2%
8.3%
9.6%
9.0%
8.4%
6%
4%
6.7%
6.5%
4.9%
4.4%
6.8%
6.5%
5.8%
3.7%
3.1%
2%
0%
1995 1996 1997 1998 1999 2000 2001 2002
Northeast
2003 2004 2005
Mecklenburg County
2006
SOURCE: REIS
2007 2008 2009 2010 2011 MY 2012
Apartment Occ. Trends
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
1
5,000
The Harris/NE Mecklenburg submarket as been among the most active in the Charlotte region over the past 17 years, capturing nearly 25% of all Mecklenburg County absorption. This equates to an average annual absorption of more than 500 units annually during the entire period.
4,000
100%
80%
60%
3,000
40%
2,000
1,841
Historic Average: 25%
20%
1,000
0
1,016
946
873 839
723
337
383
541
499
342
453
0%
89
152 168 204
69
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 MY 2012
-215
-20%
-40% -1,000
Harris Submarket
SOURCE: Noell Consulting Group based on data obtained from REIS
Apartment Abs. Trends
12/19/2012
Mecklenburg County Harris as a % of Mecklenburg

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
8.0%
Due to a relatively consistently high vacancy rate and steady construction, rent growth in the Harris/Northeast Mecklenburg submarket has averaged around 1.2% since 1995, about half the rate seen in Mecklenburg County overall.
6.0%
5.8%
4.4%
4.0%
3.8%
3.2%
2.9%
2.0%
0.0%
1995
1.8%
Historic Average: 1.2%
1996 1997 1998
1.9%
0.3%
1999 2000
1.0%
2001 2002 2003
1.7%
1.4%
2004
1.0%
0.6%
2005 2006 2007 2008 2009 2010
1.4%
-0.6%
2012
-2.0%
-2.2% -2.2%
-4.0%
-3.8%
-6.0%
Harris/ NE Mecklenburg Mecklenburg County
SOURCE: Noell Consulting Group based on data obtained from REIS.
Apartment Rent Trends
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
9
8
4
3
1
7
2
6
5
Apartment Communities
1 Colonial Grand at Legacy Park
2 Colonial Grand at Mallard Creek
3 Mill Pond
4 Reserve at Stone Hollow
5 Windsor at the Vinoy
6 Tradition at Mallard Creek
7 Worthington
Planned/Under Construction
8 Ridge at Highland Creek
9 Planned Bryton Apartments
Units
288
252
168
194
356
360
284
340
285
SOURCE: Noell Consulting Group.
Apartment Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Community
Name
Colonial Grand at Legacy Park
Exterior Picture
Year
Deliv.
# of
Units
2001 288
Unit
Mix
42%
42%
17%
100%
Avail.
Units Leased Unit Type
6
6
5
17
95%
95%
90%
94%
1B/1b
2B/2b
2B/2b
Colonial Grand
@ Mallard
Creek
1B/1b
2B/2b
3B/2b
Mill Pond
Reserve at
Stone Hollow
2005 252 51%
41%
8%
100%
2008 168 21%
50%
29%
100%
2009 194 29%
58%
13%
100%
3
7
1
3
3
6
1
10
4
7
5
16
98%
94%
95%
96%
97%
96%
94%
96%
93%
94%
81%
92%
1B/1b
2B/2b
3B/2b
1B/1b
2B/2b
3B/2b
Windsor at the
Vinoy
Tradition at
Mallard Creek
Worthington
Average, Area Projects
SOURCE: Noell Consulting Group
2005 356 46%
48%
7%
100%
1999 360
2006 284
28%
48%
24%
100%
64%
35%
0%
299%
2004.7 271.7
0
7
0
7
1
9
0
8
12
6
11
1
18
96%
94%
96%
95%
100%
95%
99%
98%
100%
93%
100%
99%
96%
1B/1b
2B/2b
3B/2b
1B/1b
2B/2b
3B/2b
1B/1 - 2b
2B/1 - 3b
3B/3b
Unit Size
Range
Avg.
Size
745 - 795 775
1,045 - 1,260 1,174
1,526 - 1,526 1,526
745 - 1,526 1,066
Current Market Rent
Range
$700 - $764
$832 - $986
$1,011 - $1,011
$700 - $1,011
Avg.
Rent
$732
$909
$1,011
$852
617 - 738 734
983 - 1,286 1,057
1,430 - 1,430 1,430
617 - 1,430 923
650 - 650 650
1,050 - 1,050 1,050
1,300 - 1,300 1,300
650 - 1,300 1,036
955 - 1,005 980
1,106 - 1,188 1,129
1,274 - 1,274 1,274
955 - 1,274 1,106
740 - 862 771
1,026 - 1,157 1,108
1,454 - 1,454 1,454
740 - 1,454 978
712 - 806 789
985 - 1,348 1,060
1,428 - 1,533 1,481
712 - 1,533 1,084
534 - 1,152 816
879 - 1,180 1,070
1,934 - 1,934 1,934
534 - 1,934 896
534 - 1,934 1,013
$726 - $766
$846 - $1,430
$1,231 - $1,261
$726 - $1,430
$685 - $705
$705 - $805
$985 - $1,000
$685 - $1,000
$700 - $836
$750 - $900
$999 - $999
$700 - $999
$755 - $1,085
$815 - $1,335
$1,015 - $1,415
$755 - $1,415
$739 - $774
$884 - $1,090
$1,174 - $1,234
$739 - $1,234
$699 - $1,200
$865 - $1,100
$1,715 - $1,715
$699 - $1,715
$685 - $1,715
$920
$1,075
$1,215
$1,014
$769
$920
$1,204
$945
$833
$1,082
$1,715
$910
$890
$765
$907
$1,248
$862
$695
$755
$993
$810
$768
$838
$999
$839
Apartment Summary
12/19/2012
Avg. $/SF
$0.94
$0.77
$0.66
$0.80
$1.04
$0.86
$0.87
$0.93
$1.07
$0.72
$0.76
$0.78
$0.78
$0.74
$0.78
$0.76
$1.19
$0.97
$0.84
$1.04
$0.97
$0.87
$0.81
$0.87
$1.02
$1.01
$0.89
$1.02
$0.88
$/SF Range
$0.94 - $0.96
$0.80 - $0.78
$0.66 - $0.66
$0.66 - $0.96
$1.18 - $1.04
$0.86 - $1.11
$0.86 - $0.88
$0.86 - $1.11
$1.05 - $1.08
$0.67 - $0.77
$0.76 - $0.77
$0.67 - $1.08
$0.73 - $0.83
$0.68 - $0.76
$0.78 - $0.78
$0.68 - $0.83
$1.02 - $1.26
$0.79 - $1.15
$0.70 - $0.97
$0.70 - $1.26
$1.04 - $0.96
$0.90 - $0.81
$0.82 - $0.80
$0.82 - $0.96
$1.31 - $1.04
$0.98 - $0.93
$0.89 - $0.89
$0.82 - $1.04
$0.66 - $1.26

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Cut Factor
Annual Job Growth, Mecklenburg County
Annual Apt Absorption, Mecklenburg County
Jobs/Apt Absorption Ratio, Mecklenburg County
2004 2005 2006 2007 2008 2009 2010 2011
Avgs,
'04 - '11
777 14,926 23,622 23,788 1,826 (33,728) (60) 14,411 5,695
1,166 1,220 2,012 2,026 956 1,374 3,798 1,490 1,755
0.7
12.2
11.7
11.7
1.9
(24.5) (0.0) 9.7
3.2
2011 -
2015 2016 -2020
58,785 58,686
2021 -
2025
52,068
2026 -
2030
Totals 2011 -
2030
56,513 226,052
Total HH Growth ('00 - '10)
Renter Propensity
New Renter HH Growth
Annualized
84,221
39%
33,108
3,311
40,027
44%
17,736
35,586
42%
15,057
3,547 3,011
33,197
44%
14,710
30,403
46%
14,080
2,942 2,816
139,213
44%
61,583
61,583
Est. Capture, Rental Apts
Harris/Northeast Mecklenburg Capture ('04 - 11)
Annual New Rental Apt Growth in the Harris/NE Mecklenburg Submarket
Prosperity-Hucks Study Area Capture
58%
22.7%
399
58%
20%
414
20%
58%
20%
352
20%
58%
20%
344
15%
58%
20%
329
10%
58%
20.0%
7,191
17%
Annual Supportable New Units, Prosperity-Hucks Study Area 83 70 52 33
With the extension of I-485 through the Prosperity Hucks area, and the increased regional access it will provide, we believe demand potential for new rental product in the area will increase significantly, particularly in the next 8 years. Over time, competition will likely shift to areas such as Bryton and along the planned Blue Line Extension to UNC-
0
Charlotte, tempering long-term demand. Still the presence of significant neighborhood retail, the existing low-density neighborhood environment, and the access provided by I-
485 will be attractive to many renters in the market.
1,188
Projected household growth via population projections provided by MUMPO
Renter propensities from US Census Bureau
Captures based on historic and current trends and estimates of where those captures will trend going forward.
Estimated demand potential estimates are gross and do not net out projects planned or in the pipeline.
SOURCE: Noell Consulting Group based on data obtained from Economy.com, MUMPO, the US Census Bureau and REIS.
Rental Res. Demand
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Macro Trends/Factors
- Home prices in the nation's largest markets are showing steady improvement over the past year, with 18 of 20 markets, including Charlotte, posting positive gains in prices.
- Charlotte home prices have increased by roughly 4% year-over-year and are now back to mid-year 2005 price levels--a significant improvement over the past few years.
- Economists expect housing market conditions to improve gradually in 2013 and 2014, assuming no major economic shocks, such as the upcoming potential "fiscal cliff".
- Existing home inventories have dropped significantly in the past year and are now generally in ranges considered normal to healthy, with most areas posting less than six months of existing home inventory.
- Home prices in Mecklenburg County have rebounded over the past year, increasing by 4.2% over the past year; a healthy rate of growth.
- Nationally and locally, pain in the housing market has been focused largely at the more moderate end of the spectrum, particularly in the starter market as many who cannot afford new home ownership have been able to purchase new or existing homes and have subsequently given those homes back to the bank.
- The suburbs is most metros, including Charlotte, have largely been hit harder than intown areas given many buyers "drive for value" and are most susceptible to
downturns in the market. High gas prices have inflicted further pain on homeowners on the suburban fringe.
Current Regional Home Sales Statistics
Charlotte Metro Area
Mecklenburg County
Zone 1 (North/Northeast e. of I-77)
Zone 2 (East Mecklenburg)
Zone 9 (North/Northwest w. of I-77)
Change in Price
4.5%
4.2%
1.3%
-3.1%
1.6%
Median Price
$162,000
$165,000
$149,150
$95,000
$129,900
Mos. of Inventory
5.1
4.3
4.1
4.1
3.4
Northeast Mecklenburg/Study Area Trends
- Home price growth in NE Mecklenburg, inlcuding in the Prosperity-Hucks study area, has generally lagged that of the larger county, increasing by about 1.3% over the past year.
- Inventories, meanwhile, have dropped significantly over the past year, consistent with drops seen in the metro area and the county overall.
- Foreclosures, meanwhile, have remained stubbornly high, roughly 50% higher than Mecklenburg County overall, reflecting the pain still impacting more moderately-priced suburban markets.
Foreclosure/RealtyTrac Statistics
ZIP/Area
28269--Prosperity-Hucks
28262--University City
28078--Huntersville
Charlotte
Mecklenburg County
October 2012
Foreclosure Rates Average Price
0.34%
0.22%
0.17%
0.24%
0.23%
SOURCE: NCG based on data obtained from Realtytrac and Charlotte Regional Reatlor Association.
$152,105
$134,263
$238,436
$201,505
$214,308
For-Sale Overview
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2,218
84.4%
11.8%
2,170
80.8%
17.1%
2,121
76.1%
21.8%
77.1%
1,902
20.7%
Mix of New Home Sales in NE Mecklenburg
80.5%
1,875
16.1%
81.6%
1,885
13.0%
81.5%
1,947
15.1%
84.9%
1,437
11.0%
89.0%
739
6.2%
Like the Charlotte region overall, Northeast Mecklenburg has seen a sharp drop-off in sales volumes (down 82%) and new home prices (down 20% from peak).
Over the next few years sales volumes will increase in Northeast
Mecklenburg, albeit at a level below that seen in the mid 2000's, with townhouses potentially accounting for a greater share of product mix.
2,500
89.4%
88.8%
83.5%
81.6%
2,000
388
6.2%
454
8.8%
15.0%
340
15.6%
244
1,500
1,000
500
0
2000 2001 2002 2003 2004
Total Sales
2005 2006 2007
Single-Family Detached
2008
Townhouse
2009 2010 2011 MY 2012
$215,000
$195,000
$175,000
$155,000
$135,000
$138,500
$115,000
$114,000
$95,000
$75,000
2000
$142,500
$118,500
2001
$155,500
$143,500
2002
$151,000
2003
$158,000
$118,000
$122,000
2004
$171,000
$133,000
2005
$180,000
$136,000
2006
Single-Family Detached
$197,500
$142,000
2007
Townhouse
$180,000
$129,000
2008
$175,000
$136,500
2009
$164,000
$113,000
2010
$152,000
$132,000 $135,500
2011
$153,000
MY 2012
SOURCE: Noell Consulting Group based on data obtained from MORE.
NE Meck Home Sales Summary
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
District
Central District Totals
Central Capture
North District Totals
North Capture
Northeast District Totals
Northeast Capture
Prosperity Hucks Totals
Capture of Northeast
Northwest District Totals
Northwest Capture
South District Totals
South Capture
Southeast District Totals
Southeast Capture
Southwest District Totals
Southwest Capture
Total
2000 2001 2002 2003
Single-Family Units Delivered by Year
2004 2005 2006 2007 2008 2009 2010 Totals
249
3.2%
205
2.7%
194
2.6%
150
2.1%
278
4.1%
395
5.5%
404
4.9%
380
6.1%
273
9.4%
76
4.9%
73
3.9%
2,528
4.1%
1,364
17.3%
1,251
16.6%
1,152
15.2%
1,349
18.9%
1,269
18.8%
1,368
19.1%
1,270
15.3%
992
15.8%
489
16.9%
332
21.3%
379
20.2%
10,504
17.1%
1,960
24.8%
1,831
24.3%
1,743
23.0%
1,568
22.0%
1,497
22.2%
1,532
21.4%
1,530
18.4%
1,275
20.3%
425
14.7%
314
20.2%
402
21.4%
13,361
21.7%
809
41.3%
660
36.0%
510
29.3%
451
28.8%
305
20.4%
238
15.5%
315
20.6%
320
25.1%
86
20.2%
81
25.8%
69
17.2%
3,694
27.6%
1,305
16.5%
1,452
19.2%
1,593
21.0%
1,554
21.8%
1,155
17.1%
1,073
15.0%
1,383
16.7%
857
13.7%
296
10.2%
186
12.0%
218
11.6%
10,668
17.3%
1,598
20.2%
1,293
17.1%
1,257
16.6%
1,237
17.4%
1,218
18.1%
1,011
14.1%
1,173
14.1%
897
14.3%
435
15.0%
148
9.5%
335
17.8%
10,119
16.5%
955
12.1%
801
10.6%
913
12.1%
694
9.7%
704
10.4%
881
12.3%
1,147
13.8%
953
15.2%
447
15.4%
179
11.5%
155
8.3%
7,495
12.2%
472
6.0%
715
9.5%
724
9.6%
577
8.1%
619
9.2%
887
12.4%
1,388
16.7%
918
14.6%
532
18.4%
321
20.6%
315
16.8%
6,832
11.1%
7,903 7,548 7,576 7,129 6,740 7,147 8,295 6,272 2,897 1,556 1,877 61,507
900
800
41.3%
Capture of Northeast District
600
500
400
300
200
100
-
2000
45%
2000
36.0% 809
41.3%
660
2001
660
36.0%
29.3%
2002
510
29.3%
2003
451
28.8%
2004
305
20.4%
2005
238
15.5%
2006
315
20.6%
2007
320
25.1%
2008
86
20.2%
2009
81
25.8%
2010
69
17.2%
28.8%
25.1%
25.8%
510
451 20.4% 20.6% 20.2%
305
15.5%
315 320
40%
35%
30%
25%
20%
17.2%
15%
238
10%
5%
86 81 69
0%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Prosperity Hucks Totals Capture of Northeast District
Source: Noell Consulting Group based on data obtained from the Charlotte-Mecklenburg Planning Department
SFD Del. by District
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
$330,500
Home prices in the Prosperity-Hucks Study Area are generally relatively affordable and are consistent with those seen in
Mecklenburg County overall. As noted earlier, townhouse product serves as a price-alternative to single-family homes in the area, with some buyers choosing townhouse product for lifestyle purposes.
North of Eastfield Road, Skybrook and Olmsted have been able to achieve significantly higher home prices, driven in part by their lower development intensities and gold & nature orientations.
$515,000
$186,000
$151,400
$201,300
$124,200
$149,000
$158,700 $114,700
$100,900
$153,000
$148,600
$159,900
SOURCE: Noell Consulting Group the Charlotte Regional Realtor Association
SFD Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
2
1
Community
1 Highland Creek (Crosspointe)
2 Signature Ridge
3 Eastfield Village
4 The Preserve at Prosperity Church
5 Prosperity Ridge
6 Prosperity Point
7 Mill Creek Townhomes
8 Prosperity Place
Units
130
62
100
CND
131
115
150
CND
$97
$51
$68
$68
$74
$/SF
$88
$63
$100
4
5
3
6
8
7
SOURCE: Noell Consulting Group, Google Earth
TH Comp Map
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Community Name Exterior Picture
Highland Creek
(Crosspointe)
Year
Opened
Sale Pace
Units
Planned Product
2005
0.7 month
(resale)
130 units 2 story w/ 1 car
2 story w/ 2 car
TH
Width Unit Type
24'
26'
3B/2-2.5b
3B/3b
Avg.
Unit Size
1630
1916
Base Price Range
$120,000 - $180,000
Avg. Price $/SF
$150,000 $92
$144,000 - $180,000 $162,000 $85
1,773 $120,000 $180,000 $156,000 $88
Comments
Traditional TH community with strong resale's
Signature Ridge at Highland Creek
Eastfield Village
The Preserve at
Prosperity Church
Prosperity Ridge
Prosperity Point
Mill Creek
Townhomes
Prosperity Place
2008
0.7/month
2004
2010
CND
100 units. (62 built)
100 units
CND
3 flrs, 1- car gar.
2 story w/ 2 car detached garage
3 stories w/ 2 car garage in rear
2005
0.33/month
(resale)
131 units
(est.)
2 story w/ off street parking
20'
20'
3B/1-3b
2B/1.5-2.5b
1891 $105,000 - $166,000 $119,750 $63
1,891 $105,000 $166,000 $119,750 $63
Poor timing for well executed homes. 38 lots available
30' 2-3B/2.5-3b 1297 $99,500 - $147,000 $129,250 $100
1,297 $99,500 - $147,000 $129,250 $100
All brick townhomes w/ private gated courtyards
22' 2-4B/2.5-2.5b
1,748 $170,000 - $180,000 $175,000 $100
24' 2-4B/2.5b-3.5b
2,079 $190,000 - $200,000 $195,000 $94
1,913 $170,000 $200,000 $185,000 $97
New homes still selling.
Majority of development has not been built
1,575
1,575
$78,000
$78,000
-
-
$99,500
$99,500
$80,500
$80,500
$51
$51
Lowest $/SF in the market place. High value for entry level home buyers
2000
.25/month
(resale)
2002
0.33/month
(resale)
150 units
(est.)
2 story w/ on street parking
2012
CND
115
(est.)
CND
2 story w/ 1 car front garage
2 story w/ on street parking
26'
20'
16'
16'
16'
2-3B/2-3b
2-3B/2-3b
2B/2.5b
2-3B/2.5b
2-3B/2b
1,597 $87,000 $125,000 $108,857 $68
1,597 $87,000 - $125,000 $108,857 $68
1,451
1,451
$84,000
$84,000
$117,000
- $117,000
$98,409
$98,409
Older townhomes with large backyards and small pool
$68
$68
Larger community with green space, clubhouse,
& pool
1,300 $94,900 $94,900 $94,900 $73
1,555 $104,900 $104,900 $104,900 $67
1,229 $101,990 - $105,990 $103,990 $85
1,361 $94,900 - $105,990 $101,263 $74
Entry level community w/ 2 builders. Homes still available, construction not completed
2 story w/gar
*** All resale data above reflects sales in the past 2-2.5 years
Source: Noell Consulting Group, Zillow, Charlotte-Mecklenburg County Tax Assessor
20' 3B/2.5b
1,607 $ 104,800 $ 142,561 $ 122,379 $ 76
TH Comp Summary
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
2006- 2010
New For-Sale Housing Demand (Units) by Timeframe
2011 - 2015 2016 -2020 2021 - 2025
Total Mecklenburg County HH Growth 15 - 75+
Owner Propensity
New 15 - 75+ Owner HH Growth
% Choose Attached
New Mecklenburg County Attached Homes
% Choose Detached
New Mecklenburg County Detached Homes
Northeast Mecklenburg Area Capture
Attached Homes (TH & Condo)
New NE Meckleburg Attached Homes
Single-Family Detached Homes
New NE Mecklenburg Single-Family Det. Homes
Prosperity-Hucks Study Area Capture
Attached Homes
New Prosperity-Hucks Study Area Attached Homes
Detached Homes
New Prosperity-Hucks Study Area Detached Homes
41,984
67%
28,129
28%
7,953
72%
20,176
9.2%
732
19.2%
3,873
33%
242
22%
852
32,021
62%
19,853
24%
4,765
76%
15,088
8.0%
381
20%
3,018
33%
126
24%
724
35,586
64%
22,650
27%
6,116
73%
16,535
9%
550
20%
3,307
33%
182
24%
794
33,197
62%
20,582
28%
5,763
72%
14,819
10%
576
18%
2,667
30%
173
18%
480
2026 - 2030
30,403
60%
18,096
29%
5,248
71%
12,848
10%
525
18%
2,313
25%
131
14%
324
Totals
2011 - 2030
131,207
62%
81,182
27%
21,891
73%
59,290
9%
2,033
19%
11,305
30%
612
21%
2,322
While the Prosperity-Hucks area has seen a gradual loss in market share for new detached and attached home sales over the past few years, the extension of I-
Intown attached #REF!
#REF!
#REF!
#REF!
#REF!
485 through the area will result in an increased capture in the coming 5 to 10 years given its improved accessibility to the region's freeway network and regional employment cores. Over time, as the area builds out, captures of new for-sale residential, particularly single-family detached product, will decrease.
Intown detached #REF!
#REF!
#REF!
#REF!
#REF!
127 159 96
NOTE: Demand estimates are gross and do not net out planned projects or those in the pipeline.
Source: Noell Consulting Group based on data obtained from MORE, the Charlotte-Mecklenburg Planning Department and the US Census Bureau.
For-Sale Residential Demand
12/19/2012

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
The Prosperity-Hucks area is well-positioned to regain market share as I-485 increases regional access to area residents. To this, value creation and broadening housing appeal will be important to the long-term sustainability of the area.
Infill attached for-sale and rental for-sale residential adjacent to existing retail core to enhance walkable environment. This could include adding product targeting more mature singles and couples.
Identify opportunities for street-oriented rental apartments, attracted to the area by the enhanced access provided by I-485.
Location
Historically somewhat on the suburban fringe, but increasingly convenient given access to I-485
Retail/Services/Amenities
Solid access to neighborhood retail with moderate to good access to schools, greenway & parks
Housing Quality
Largely stable neighborhoods that are mid-priced relative to the
Charlotte region--most lacking walkability & connection to town center retail village
Land Supply
Fairly strong for infilling single-family, townhouse, and rental
Res Dev Opportunities
12/19/2012
Continue infill of single-family homes, focusing on connectivity and value creation to enhance the lifestyle proposition of the area.
Summary of Rental Residential Demand
Potential New Units 2011 - 2030 Potential Acres 2012-2030
1,188 46
Summary of Detached For-Sale Residential Demand
Potential New Units 2011 - 2030 Potential Acres 2011-2030
2,322 513.5
Summary of Attached For-Sale Residential Demand
Potential New Units 2012 - 2030 Potential Acres 2012-2030
612 40.8
NOTE: Acreage estimates are gross and could include intensification of existing land uses in the market and thus are not necessarily net new acres

CITY OF CHARLOTTE
PROSPERITY-HUCKS AREA PLAN MARKET ANALYSIS
Total New Supportable Retail SF (incl. current undersupply)
Average Retail FAR
Estimated New Retail Acreage Demanded
Retail Square Feet Demanded by Timeframe
2011 - 2015 2016 -2020 2021 - 2025 2026 - 2030
464,275
0.25
41,634
0.25
-74,572
0.30
12,991
0.30
42.6
3.8
-5.7
1.0
* Note: 2011 - 2015 retail demand includes existing pent-up demand in the market.
Totals
2011-2030
444,329
0.24
41.7
Total New Supportable Office SF (inc. current undersupply)
Average Office FAR
Estimated New Office Acreage Demanded
Office Square Feet Demanded by Timeframe
2011 - 2015 2016 -2020 2021 - 2025 2026 - 2030
65,412
0.25
9,321
0.25
10,649
0.25
12,166
0.25
6.0
0.9
1.0
1.1
* Note: 2011 - 2015 office demand includes existing pent-up demand in the market.
Totals
2011-2030
97,547
0.25
9.0
Total New Rental Residential Units
Average Units/Acre
Estimated New Rental Residential Acreage Demanded
Rental Residential Units Demanded by Timeframe
2011 - 2015 2016 -2020
For-Sale Detached Unit Residential Demanded by Timeframe
2011 - 2015 2016 -2020 2021 - 2025
Total New For-Sale Detached Residential Units
Average Units/Acre
Est. New For-Sale Detached Res. Acreage Demanded
724
4.0
181.1
794
4.0
198.4
480
6.0
80.0
For-Sale Attached Residential Units Demanded by Timeframe
2011 - 2015 2016 -2020 2021 - 2025
Total New For-Sale Attached Residential Units
Average Units/Acre
Estimated New For-Sale Detached Residential Acreage Deman
126
15
8.4
182
15
12.1
173
15
11.5
Total Acreage All Land Uses:
Average Annual:
414
24
17.3
2011 - 2015
255.3
51.1
352
24
14.7
2016 -2020
229.9
46.0
2021 - 2025
258
30
8.6
2021 - 2025
95.4
19.1
2026 - 2030
164
30
5.5
2026 - 2030
324
6.0
54.0
2026 - 2030
131
15
8.7
Totals
2011-2030
1,188
26
46.0
Totals
2011-2030
2,322
4.5
513.5
Totals
2011-2030
612
15
40.8
2026 - 2030 Totals 2011-2030
70.3
650.9
14.1
32.5
NOTE: Acreage estimates for all land uses are gross and could include intensification of existing land uses in the market and thus are not necessarily net new acres needed.
Demand estimates should be considered gross and do not net out projects planned or in the pipeline.
Demand Summary
12/19/2012