Olde Cotswold Neighborhood Organization (OCNO)

Rosewood Development

Update from Helen Duncan (March 30, 2005)

1) The number of units will be 134 due to potential owners wanting larger units.
2) The City’s noise ordinance allows them to have construction noise from 7:00 am to 9:00 pm every day with no difference for Sat or Sun
3) The supports for the buildings will be drilled versus driven which means the neighborhood will have a constant hum rather than having to wait for the next metal on metal sound.
4) Plans for landscaping, etc are still being drawn so information on final appearance is unavailable
5) There will be an entrance/exit on Sharon Amity and on Providence
6) Tom Masters, the project manager will request all contractors working on the project to use the main roads and not cut through the neighborhood and will make that part of their contract with the project.
7) The majority of the storm water runoff will go toward Providence rather than add to the Andover load.
8) The dirt pile being developed will eventually be spread back on the property but is being piled now for "storage". They scraped the topsoil off first and saved it to put back for landscaping. Some of the dirt will be used for the berm - at any rate, all the dirt they are digging for the parking under the buildings will be kept on the land. No dirt will be hauled in and no dirt will be hauled out.

Rosewood Overview (October 27, 2004)

Height: 115 feet or about 35 feet above the tallest trees on the site at Providence and Sharon Amity roads.
Design: Ornate French Renaissance architecture reminiscent of Biltmore House (Asheville)
Amenities: Clubhouse, cyber caf?©, tennis courts, putting green, pool, fitness center, 24-hour security
Size: 152 units in three buildings on 9 acres
Penthouses: 12-foot ceilings, custom design. Largest are 4,700 square feet. Priced at $1 million plus.
Other units: From 1,975 square feet starting in upper $300,000s.
Construction to start in February 2005, completion in 18 to 22 months

Doug Smith (Charlotte Observer) article Feb. 03, 2005

Rosewood at Rowe site will offer ritzy amenities targeting empty-nesters

Developers plan to start construction site work within three weeks on one of Charlotte's most ambitious luxury condo projects.

WCDM Development Co. of Macon, Ga., broke ground Wednesday at Providence and Sharon Amity roads on Rosewood -- three eight-story buildings designed in ornate French Renaissance architectural style.

The project will replace the nine-acre Rowe estate and farmhouse with 134 condos ranging from 1,975 to 4,700 square feet and selling from the $400,000s to more than $1 million.

WCDM's Jerry Stephens said the company, aware of the philanthropic contributions of the late Oliver and Marie Rowe, plans to restore their landmark rose garden at the heavily traveled intersection.

"When we came to town just a little over a year ago," he said, "the first thing people asked us is: `What's going to happen to the rose garden?' "

As part of the groundbreaking ceremony, he presented a commemorative plaque to members of the Rowe family.

A "Peace" rose bush -- the Rowes' favorite variety -- was displayed in their memory at the event and will be the first planted in the refurbished garden.

WCDM paid about $7 million after winning a bidding war for the Rowe property in May. This is its first Charlotte project.

"I don't think a developer could have chosen a better site," Stephens said. "We have two of the finest anchors across the street."

He was referring to St. Gabriel Catholic Church and Providence United Methodist Church at two other corners of the intersection.

The fourth corner -- now occupied by offices -- is to become part of a proposed 6.5-acre redevelopment that would include shops, offices and houses.

The City Council is to hear Pearson Properties' petition to rezone that corner for mixed-use development Feb. 21.

WCDM has sold 32 units since announcing detailed pricing and design plans in late October.

Competitors are watching closely, because Rosewood has combined size, design and "country club" amenities in a project that pushes the limits of the luxury market in Charlotte.

Residential real estate analyst Emma Littlejohn of The Littlejohn Group describes it as more like a resort community than a condo project.

Among resident amenities: a two-story, 7,560-square-foot atrium club room, garden room, business center, cyber cafe, conference rooms and fitness center. The atrium will be the hub to which the three residential buildings connect.

The fitness complex will include massage rooms and personal training areas. Security officers and concierges will be on 24-hour duty. Other amenities include a mail center, laundry drop-off and card room plus a pool, tennis court and putting green.

The developers plan to save 80 percent of the mature trees on the site and preserve nearly five acres of wooded land as part of the private grounds.

Stephens said he believes WCDM, which is experienced in developing amenity-laden apartment projects in the Southeast, can reach an underserved market by taking such an approach in Charlotte.

The local condo market has been strongest in and near the urban core, where empty-nesters seek escape from home-maintenance chores and suburbanites find relief from long commutes.

The developers face some risk in trying to lure buyers to the outer edge of the core with an untested product in this market.

But surveys indicate empty-nesters -- Rosewood's most likely customers -- generally prefer to stay near their old neighborhoods and maintain their same shopping patterns, attend the same churches and remain in the same social circles.

Real estate experts said that puts Rosewood in a prime location near such neighborhoods as Eastover, Myers Park and Cotswold and convenient to shopping and golf-course country clubs.

Stephens said WCDM has secured permits for site work and construction of building footings. He estimates construction will take 18 to 22 months.

The project's development team includes architect Narmour Wright Associates, land planner ColeJenest & Stone and construction manager Tom Masters of WCDM. No general contractor has been named.

Rosewood Information

Rosewood Condos Website