Uptown Charlotte Real Estate has new hope

Uptown Charlotte has some hope in the uncertainty of the Wells Fargo – Wachovia Merger. The new skyscraper originally known as Wachovia Tower and meant as their crown jewel of Charlotte had a fearful future for many Charlotte area residents until yesterday, when a deal was reached with Charlotte based energy company, Duke Energy.

Duke energy, which helped to create Lake Norman and all of the luxury real estate it compliments, will move its headquarters to the tower and lease 20 of the 48 floors. In doing so, the building will now be known as Duke Energy Center and renew the commitment of Duke Energy to the Charlotte region.

Uptown real estate has been hit pretty hard by the recession with double digit vacancy rates predicted by the end of 2010. This new lease has ensured that at least part of the Wachovia Empire will be used and not left empty like so many other commercial spaces.

Stable and constant commercial growth will inevitably spill into the residential Charlotte Real Estate market. Uptown condos and townhomes, along with outlying communities such as Elizabeth, Myers Park, and Dilworth all depend on Uptown to fuel their home sales.