Lessons of History

Last week, a handful of movers and shakers from the last decades of Charlotte's development converged to discuss the future of Uptown. Hugh McColl, Jr., Harvey Gantt, Rolfe Neill, Wendell White and David Ivey all played a role in creating the vibrant center city we enjoy today. Having watched Charlotte grow across a forty-year period, this group remembers that the climb was not always directly upward, and views our current condition as a short pause in our long-term economic rise. Click here for the complete Charlotte Observer story by Doug Smith.

Charlotte leaders predict uptown will rise again
By Doug Smith
dougsmith@charlotteobserver.com

High-rise residences, office towers, museums, an arena and an entertainment complex have fueled an unprecedented boom in the urban core that could surpass $6 billion in investment by the end of the decade.

Now, as that wave of projects nears completion, center city backers worry that the lingering recession and the troubles of uptown's big banks will bring development to a halt.

There is a pause, but uptown's growth will resume, say five leaders who helped guide center city development during the past 30 years.

Like them, I lived in Charlotte in the late-1980s when mortgage rates ran in double digits and homes languished on the market for ages. I feared this was the new norm and that I would never afford my own home. Well, in time things did change - interest rates dropped (they're currently at their lowest point since the 1950s) and homes sold. I even bought one. So, as we ponder whether we are now living the new norm, pause and remember the ups and downs of our recent past.