News
South of the Mason-Dixon Line
January 25, 2011
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| Rockville Pike in Montgomery County, MD, is no emerging area, but850 Bisnow DC readers are excited enough about the area’spotential to have joined us for our latest DC event yesterday.195,000 residents have descended on the county since ’89, MoCo Planning Department director Rollin Stanley told us. That leaves only 28 undeveloped acres, and 98% of the housing stock is single-family. As GenY-ers find jobs and move out of Mom and Dad’s basement, and as retirees downsize, where will they all go? Dense development surrounding transportation options is the only way to fit ’em all in. And there are economic benefits for the county and municipality, too. Rollin lives in high-rise worth $32M, while a single-family home on a lot of the same size is worth $810k. |
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| And soon you’ll have another city to read about—Bisnow’s launching our 11th market, Charlotte, on Feb. 1 (we’re really doing our best to keep the airlines in business). Last week, your itinerant publisher snapped the city’s symbol and tallest building, the 60-story Bank of America Corporate Center. In a reference to the Nations Bank CEO who drove the merger with BOA, legendary Hugh McColl, wags refer to the tower as the “Taj McColl.” On the right is the 659-foot, 1.6M SF Hearst Tower, also owned by BOA. The finance giant has other big buildings around town, including one just opened last June. Do you get the idea this might be a banking town? However, it’s less a finance Mecca than it used to be. Its 786-foot former Wachovia HQ has been renamed Duke Energy Center (even though Wells is still the owner) reflecting the “other” big industry in Charlotte. |
