Charlotte Apartments: a Wait and See Approach for a City on the Move

Before the current economic crisis, Charlotte, NC, generated a tremendous amount of energy. Population in downtown areas boomed. High paying jobs were in abundance. And the quality of life was high.

Much like the rest of the country, Charlotte’s forecast today is not as sunny. The real estate market is stagnant. Jobs cuts have scaled back the workforce. And the quality of life, though still high, is much more reserved.

But if Charlotte can maintain its confidence—a positive public mindset—then Charlotte can recapture its once blooming energy.

Despite the economy, Charlotte continues to grow. Development projects in the Uptown, prestigious universities with solid application rates, and a workforce that, even with layoffs, scale-backs, and limited opportunities, is determined to move forward and pave the way for Charlotte’s future. The Charlotte Observer recently ran an article about the situation.

"Charlotte is just now being born as a metropolitan community. Sure, it's always been a city. But something bigger is happening now. I get invitations now to places like Lancaster County. The mindsets are just now beginning to change. Lots of Rock Hill folks think they're living in Charlotte. And our uptown has a lot to do with it. The shift's driven by lifestyle changes – baby boomers leaving those cul-de-sacs, replaced by Gen Xers. I predict uptown will have 100,000 residents by 2028," said Charlotte Chamber researcher Tony Crumbley.

There's no doubt – uptown Charlotte has been soaring skyward with its sea of construction cranes. Even the bad economic news of recent weeks can't erase that. When the dust of the current crises settles, few doubt the world will still see here a proud, ambitious metropolitan center looking for next opportunities, boasting expansive new culture and street life.

Yet it remains an open question: Does Charlotte's uptown embody the regional citizenship Tony Crumbley speaks of? Can it, all at once, successfully welcome a diverse group including lifelong Southerners, mobile business moguls, ambitious 20-something graduates of Upstate New York colleges, empty nesters escaping suburban crabgrass and striving immigrants from Latin America and Asia?

Further, can uptown Charlotte work well with the downtowns of the smaller cities in the Charlotte citistate to create a welcoming urbanism, a network of town centers to be prized? The smaller downtowns play a different role from the big center. They are bright lights, but each with a different hue and warmth. Each adds to the region's character. Examples abound: Salisbury with its historic charm; Kannapolis, the old mill town emerging as a biotech center; Mooresville, the classic old railroad town building a new persona; Rock Hill, a dynamic little city just over the S.C. border.

Of course there are detractors. Some worry that Charlotte grew too quickly, that its glory was fleeting and is now destined to remain on the fringe of big city greatness. Nonetheless, Charlotte has a lot of opportunity. Young professionals, students, or adults looking for a new place to call home have plenty of reasons to invest in Charlotte. In fact, with so much still undecided, it’s a perfect time to rent an apartment in Charlotte. That way you can enjoy the city’s amenities but not invest too heavily. You can wait to see where this exciting city winds up.