News

Charlotte real estate execs on HB2: “It needs to go away.”

This week a group of Charlotte real estate executives held a 2017 market forecast – and continued to see HB2 as a problem on the horizon.

From the Charlotte Observer:

“It’s idiotic, and it needs to go away,” said Wyatt Dixon, managing principal at apartment developer Proffitt Dixon. He said an investor on an undisclosed deal recently got as far as giving them a term sheet before declaring “We’re out” after HB2 passed and backlash began.

None of the real estate executives at the Bisnow forecast said HB2 is completely destroying the city’s momentum, and key market segments such as apartments and office space are expected to keep growing in Charlotte. But the executives on two separate panels all agreed HB2 is hurting the state and making their jobs harder.

“We’ve lost an intangible,” said Jensie Teague, of Selwyn Property Group. He said Charlotte now compares less favorably with peer cities such as Austin and Nashville. “We need to get that back.”

Governor Roy Cooper says he’s working on a new run at a repeal, talking with GOP leaders in the General Assembly. The N.C. House and the N.C. Senate go back into session Jan. 25.

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In dozens of vitally important areas, policy decisions of the Trump administration are dramatically affecting and altering the lives of North Carolinians. This growing collection of stories summarizes and critiques many of the most important decisions and their impacts.