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Mecklenburg Times: News for Mecklenburg, Union and Iredell counties

New BuildStrong Academy Offers Complimentary Carpentry and Electrical Training  

The Home Builders Institute (HBI) in partnership with the Fioretti Family Charitable Fund announced the grand opening of the BuildStrong Academy of Charlotte, a new training facility in the Charlotte region to help address the labor shortage in the residential construction industry.  In Charlotte, the skilled construction labor shortage has reached critical levels, posing significant challenges for the local economy and infrastructure development. As the demand for construction projects continues to rise, the shortage of skilled workers has led to delays, increased costs, and hindered growth opportunities. In response to this pressing need, the establishment of this free training facility will provide accessible training opportunities for individuals interested in pursuing careers in the construction industry, equipping them with the necessary skills and certifications to meet the demand for skilled workers. The program allows participants to learn the skills needed for entry-level roles in 9-weeks at no cost to them. The training results in an industry- recognized certificate in carpentry and electrical. The first four weeks of the training provide basic construction knowledge such as reading a tape measure, using hand and power tools, and safe work practices including an OSHA 10-hour certificate. The remaining five weeks are trade- specific training. Each student completes the program with an OSHA-10 safety certification and is ready to be placed into a job when they graduate. Ed Brady, HBI President and CEO, shared that "Older workers are retiring and not being replaced because the U.S. has not produced an adequate supply of construction labor for several generations. HBI is committed to training the next generation of skilled workers and ensuring the supply of construction labor." The BuildStrong Academy would not be possible without the generosity of co-sponsor and lead funder, The Fioretti Family Charitable Fund. "After several years of dedicated effort, the opening of the Charlotte academy is finally here. Our family is excited for this opportunity to serve the working community and construction industry in Charlotte," said Peter Fioretti. "My brothers and I also believe this will be integral progress to do more for underprivileged young adults wanting education alternatives and living-wage jobs. This program is designed to be scalable and sustainable to serve many families in Charlotte." Other contributors to the program include The Home Depot Foundation, Truist Foundation, and DEWALT. "The Home Depot Foundation has been proud to partner with HBI to make trades training and pathways to lucrative careers in the trades a reality for more people," said Erin Izen, Executive Director of The Home Depot Foundation. "With more than 400,000 construction jobs open – and growing – the new Academy in Charlotte will further our joint mission to shrink the skilled labor gap and ensure a strong pipeline of qualified construction professionals for years to come." "DEWALT has been 'for the trades' since 1924 and is deeply committed to the needs of our pro users," said Jeff Doehne, Stanley Black & Decker's President & General Manager of The Home Depot. "Through conversations with customers and our own internal research, we know the lack of skilled labor is a significant barrier to the success of the industry. We are proud to support HBI's newest BuildStrong Academy and several others across the county to cultivate a resilient next-generation workforce." "Aligned with our purpose to inspire and build better lives and communities, Truist is proud to support HBI's BuildStrong Academy of Charlotte," shared Erica Acie, head of retail originations. Since its inception, Truist has empowered workforce development through a variety of initiatives and partnerships that provide education-to-career pathways to diverse communities across the bank's footprint. "HBI's BuildStrong Academy demonstrates Truist's commitment to building a more inclusive and sustainable workforce by upskilling future generations and connecting organizations with highly qualified candidates." To learn more about HBI's BuildStrong Academies, visit hbi.org.  About The Fioretti Family Charitable Fund:  The Fioretti Family Charitable Fund leverages our entrepreneurial vision, relationships, and capital, to make a massive impact on underprivileged children and young families. We promote education, living-wage jobs, affordable housing, and entrepreneurship. We also supercharge the success of emerging real estate & entrepreneurial students.    About The Home Depot Foundation  The Home Depot Foundation, the nonprofit arm of The Home Depot, works to improve the homes and lives of U.S. veterans, support communities impacted by natural disasters and train skilled tradespeople to fill the labor gap. Since 2011, the Foundation has invested more than $500 million in veteran causes and improved more than 60,000 veteran homes and facilities. The Foundation has pledged to invest $750 million in veteran causes by 2030 and $50 million in training the next generation of skilled tradespeople through the Path to Pro program.  About DEWALT  DEWALT, a Stanley Black & Decker brand, celebrates 100 years in business by continuing to provide our customers with total jobsite and outdoor solutions. By applying its latest technology to the challenges of today's skilled trades, DEWALT is leading the charge for the jobsite of the future and is pioneering the next generation of tools, outdoor equipment and forward-looking technologies. DEWALT products. GUARANTEED TOUGH®. For more information, visit www.dewalt.com or follow DEWALT on Facebook, Instagram, and LinkedIn  About Truist Foundation  Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the Foundation's leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.  About HBI   HBI trains skilled workers for the building industry. It is the nation's leading nonprofit provider of trade skills training in residential construction. Through the organization's industry-recognized curriculum, HBI trains in a variety of skills including, carpentry, electrical, plumbing, building construction technology, HVAC, and masonry. In programs across the country, HBI provides pre-apprenticeship training and certification programs in middle and high schools; community colleges, technical institutes and training academies for middle and highs school students, veterans and transitioning military, unemployed and displaced workers; and low-income, at-risk and justice-involved youth and adults.  The goals for all HBI programs, regardless of the population, is to train, credential and place students in industry-related employment or post-secondary education. These metrics, however, fall within the overarching goal we have for all those we serve – to provide individuals an opportunity to take control of their lives and become productive, self-sufficient citizens.

New Spec Suites, Lease Signings and Openings Announced for Lower Tuck 

Mixed-use developer Third & Urban announced today several retail and office leasing updates across three buildings at Lower Tuck, a mid-century warehouse district turned creative office and retail campus in West Charlotte's FreeMoreWest neighborhood. The project has signed four new office leases and continues to add spec suites across the portfolio. Additionally, local favorite Seemingly Overzealous Ice Cream will open a pop-up shop in front of Not Just Coffee in May and Maíz Agua Sal (MAS), a modern Mexican scratch kitchen, tortilleria and agave bar, has officially begun service. Barry Fabyan, Co-Managing Director at Stream Realty, which handles office leasing for Lower Tuck, said, “Charlotte’s West Side is hopping; the heavy lifting of establishing this area as a competitive office and retail market has been done, and we are now seeing the fruits of those efforts with the leasing momentum at Lower Tuck.”  The office spec suite program has proven effective for Lower Tuck with companies attracted to the modern, turnkey workspaces delivered inside the adaptive reuse settings. The project is pushing forward on six new spec suites spanning 33,000 square feet. The additions will be complete in June and bring Lower Tuck’s spec suites program up to 20 total. Two of the new spec suites have already been leased, which joins two additional spec suite leases signed in the first quarter. The new tenants are as follows:  Evans General Contractors taking a 6,500-square-foot space at 800 Gesco Street  Design Collaborative, an architecture, engineering and interior design firm, is expanding within the project into a 4,700-square-foot suite at 800 Gesco Street  Stimmel Associates, a landscape architecture, engineering, land planning and design firm, has leased 3,900 square feet at 1018 Jay Street  Liberty Atlantic Development Group is a full-service commercial real estate company with a focus on rental housing and economic development in North Carolina and will occupy a 2,000-square-foot spec suite at 1018 Jay Street  This month, global manufacturing company Positec took occupancy of another 9,000-square-foot spec suite as part of its expansion at 929 Jay Street from 27,000 to 35,500 square feet.  “When we entered the Charlotte market in 2022, the move-in ready suite was a perfect option,” noted Kevin Scully, Partner and Senior Architect at Design Collaborative. “Lower Tuck has been great for culture and attracting talent. We have exceeded our growth projections and are delighted that we could relocate to a new larger suite so quickly within the project.”    This spring, Seemingly Overzealous will join Lower Tuck in a repurposed camper located in front of Not Just Coffee. The beloved local ice cream brand is owned and operated by partners Garrett Tichy and Jess Berresse, and opened its first location at Camp North End in May 2023. All of its flavors are dairy-free and handmade, with the entire menu designed to accommodate those with food allergies. The ice cream camper will be open on weekends and special occasions by May 1. Maíz Agua Sal (MAS), a modern Mexican scratch kitchen, tortilleria and agave bar from ARDR Hospitality Group (Lincoln Street Kitchen & Cocktails, The Green Room and Craft Tasting Room & Growler Shop) is now open at 1018 Jay Street.  About Lower Tuck:  Lower Tuck is a district of mid-century warehouses remixed into a creative office and retail campus. The nearly 400,000-square-foot adaptive reuse community spans eight buildings on Jay Street, Gesco Street and Tuckaseegee Road. The project is being developed in three phases; the first phase, which encompasses 929, 1026 and 1018 Jay Street, has been completed and stabilized. The second phase – 800 and 845 Gesco – is under construction now. Third & Urban is the project developer. To learn more visit lowertuck.com.   About Third & Urban:  Third & Urban is a Developer Building Community – modern, culture-rich adaptive reuse and urban infill that anchors people not just city blocks; that retains context, history and experience, not just tenants; and that creates culture and connection, not just ROI. The Atlanta-based company is focused in the southeastern U.S., engaging in a deliberate value creation process to produce truly unique destinations and best-in-class results for office, retail and residential uses. The firm seeks opportunities in markets that exhibit a high quality of life, a strong workforce and consistent job growth. With a current portfolio of more than 1.2 million square feet across the Southeast, Third & Urban has developed more than $500 million in institutional grade urban projects. In addition to Lower Tuck, the developer is recognized locally for its work on The Pass, a forthcoming mixed-use district in the NoDa arts district. For more information, please visit www.thirdandurban.com.

SPONSORED: Charlotte’s prestigious Blue Diamond Awards are back!

Charlotte’s prestigious Blue Diamond Awards are back! Applications for the final two awards in the 2023-2024 series (Business Impact Corporation and IT Entrepreneur) opened on May 6th, learn more here. • Finalists and winners from our already announced awards in the 2023-2024 series are: • TechExec Community Impact Award – Finalists: Kendra Neary, Accenture & TJ • Felice, Centric Consulting; Winner: Arno Czerveny, Wells Fargo • Cool Innovation Award – Winner: American Tire Distributors, PolyAtom Team • Business Impact SMB – Finalist: Swell Energy; Winner: Open Broadband LLC • Community Solutions Award – Finalists: Dottie Rose Foundation, Nourish Up, Leading on Opportunity, Foundation for the Carolinas; Winner: E4E Relief The Blue Diamond Awards recognize organizations that have developed innovative technologies to better realize their mission and achieve their business goals. As such, they provide a highly regarded way to celebrate and support Charlotte’s thriving technology community, critical as our city grows in its technological prominence. Under Apparo’s leadership, we have extended the Blue Diamond Awards. No longer one event, but rather a year-long celebration, the program now provides the technology community with six opportunities for leaders and practitioners to gather together in person to applaud recent accomplishments and share ideas and best practices. The wide variety of finalists and award recipients is one of the highlights of the Blue Diamond Awards. Our panel of judges include C-Suite technology leaders from Ally Financial, Honeywell, TIAA, Wells Fargo and more. The upcoming awards open for nominations and applications are the Business Impact Corporation Award and the IT Entrepreneur Award. The Business Impact Corporation Award is for the company or organization of greater than 750 employees (in total, across all locations), or an individual or team from that company/organization, that achieves the greatest business value via the deployment and use of an information technology solution. This award will be presented in September of 2024 at our CXO Tech Insights forum. The IT Entrepreneur Award is for the individual entrepreneur who has turned a creative vision into a profitable and enduring business through the direct application of information technology. This award will be presented on November of 2024 at our CXO Tech Insights forum. Apparo's CXO Tech Insights are a series of five technology networking and education forums in Charlotte, NC, gives CIOs and other IT professionals exclusive opportunities to delve into current technology challenges, explore innovative tech solutions, and engage in meaningful networking. Attendees gain valuable insights from technology industry leaders on current trends, business challenges, solutions and best practices, empowering them to stay ahead in today's rapidly evolving tech landscape. Ticket sales and corporate sponsorships support Apparo's mission of delivering vital nonprofit technology and process improvement solutions. As a result, lives are lifted in our communities. Learn more, read summaries of past Tech Insights, and register for the next event at apparo.org/corporations/cxo-tech-insights/. Apparo is a Charlotte-based nonprofit that delivers technology and business process improvement to nonprofits across the state (and beyond), so that they can work more effectively to improve lives in our communities. As a nonprofit ourselves, Apparo relies on the generosity of donors and corporations that provide skilled volunteers and underwriting for our work. To learn more about partnering with us, please visit apparo.org/corporations.

Zombie foreclosures shrink to even smaller portion of U.S. Housing stock in second quarter 

ATTOM released its second-quarter 2024 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,289,387) residential properties in the United States sit vacant. That figure represents about 1.3 percent, or one in 79 homes, across the nation – the same as in the first quarter of this year.  The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below).  The report also reveals that 237,208 residential properties in the U.S. are in the process of foreclosure in the second quarter of this year, down 2.3 percent from the first quarter of 2024 and down 23.9 percent from the second quarter of 2023. Foreclosure activity has declined this year following a surge in cases that hit after a nationwide moratorium on lenders pursuing delinquent homeowners, imposed during the Coronavirus pandemic, was lifted in the middle of 2021.  Among those pre-foreclosure properties are about 6,945 sitting vacant as zombie foreclosures (pre-foreclosure properties abandoned by owners) in the second quarter of 2024. That figure is also down from the prior quarter, by 5.4 percent, and down 20.6 percent from a year ago.  The latest count of zombie homes continues a long-term pattern of those properties representing only a tiny portion of the nation’s total housing stock - currently at just one of every 14,724 homes around the U.S. The ratio is down from 13,905 in the prior quarter and from one in 11,577 in the second quarter of last year, to the lowest level since early 2021. Zombie foreclosures numbers remain so small that most neighborhoods around the country face little or no threat of the blight and decay those homes can spread.  The portion of pre-foreclosure properties that have been abandoned into zombie status, meanwhile, also went down slightly, from 3 percent in the first quarter of 2024 to 2.9 percent in the current quarter.  “Predictions of a huge spike in foreclosures after the moratorium, with the potential for a surge in zombie properties, never came true. Indeed, the opposite has happened, as abandoned homes in foreclosure continue to get harder and harder to find around the country,” said Rob Barber, CEO for ATTOM. “Some signs have popped up over the past year that the long U.S. housing market boom is giving back some of its gains, which could lead to declining equity and more foreclosures. We are still far from losing the benefit of having zombie properties nearly disappear from the housing market landscape.”  The dip in the number of zombie properties during the second quarter comes as the housing market remains buoyed by 12 years of price increases despite the recent markers of a slowdown.  The nationwide median home value dropped quarterly in the early months of 2024 by 4 percent, to $330,000, but was still up 3 percent from a year earlier, according to ATTOM’s home sales analysis. It has increased every year since 2012, more than doubling during that time. Those gains have fueled a historic rise in homeowner wealth to the point where almost 95 percent of owners paying off mortgages have at least some equity built up and nearly 50 percent owe less than half the estimated value of their properties.  Zombie foreclosures drop in more than half the country, remaining a non-issue in most neighborhoods  A total of 6,945 residential properties facing possible foreclosure have been vacated by their owners nationwide in the second quarter of 2024, down from 7,338 in the first quarter of 2024 and 8,752 in the second quarter of 2023. The number of zombie properties has decreased quarterly in 30 states and annually in 38.  As those numbers keep dwindling, the biggest decreases from the first quarter to the second quarter of 2024 in states with at least 50 zombie homes are in Ohio (zombie properties down 22 percent, from 597 to 466), Maryland (down 17 percent, from 104 to 86), South Carolina (down 14 percent, from 74 to 64), California (down 13 percent, from 310 to 269), and North Carolina (down 12 percent, from 67 to 59).  The only quarterly increases among states with at least 50 zombie foreclosures are in Massachusetts (zombie properties up 12 percent, from 68 to 76) and Illinois (up 1 percent, from 719 to 724).  Overall vacancy rates continue to hold steady  The vacancy rate for all residential properties in the U.S. has remained virtually the same for eight quarters in a row. It stands at 1.26 percent (one in 79 properties), unchanged from the first quarter of 2024 and virtually the same as the 1.27 percent level in the second quarter of last year.  States with the largest vacancy rates for all residential properties during the second quarter of this year are Oklahoma (2.27 percent), Kansas (2.18 percent), Missouri (2.06 percent), Alabama (2.04 percent) and Michigan (2.02 percent).  Those with the smallest overall vacancy rates are New Hampshire (0.36 percent), New Jersey (0.41 percent), Vermont (0.44 percent), Idaho (0.47 percent) and California (0.64 percent).     Other high-level findings from the second quarter of 2024:  Among 168 metropolitan statistical areas in the U.S. with at least 100,000 residential properties in the second quarter of 2024, those with at least 100 properties facing possible foreclosure and the highest zombie foreclosure rates are Peoria, IL (18.6 percent of properties in the foreclosure process are vacant); Wichita, KS (8.4 percent); Cedar Rapids, IA (8.3 percent); Shreveport, LA (8.3 percent) and St. Louis, MO (7.8 percent).  Aside from St. Louis, the highest zombie-foreclosure rates in major metro areas with at least 500,000 residential properties and at least 100 homes facing foreclosure in the second quarter of 2024 are in Cleveland, OH (7.2 percent of homes in the foreclosure process are vacant); Indianapolis, IN (6.5 percent); Baltimore, MD (5.2 percent) and Portland, OR (4.6 percent).  Among the 35.1 million investor-owned homes throughout the U.S. in the second quarter of 2024, about 905,600 are vacant, or 2.6 percent. The highest levels of vacant investor-owned homes are in Indiana (5.5 percent vacant), Oklahoma (4.5 percent), Alabama (4.3 percent), Missouri (4.3 percent) and Kansas (4.1 percent).  Among the roughly 11,400 foreclosed, bank-owned homes in the U.S. during the second quarter of 2024, 14.3 percent are vacant. In states with at least 50 bank-owned homes, the largest vacancy rates are in Ohio (26.6 percent), Indiana (23.3 percent), Illinois (21.2 percent), Michigan (20.5 percent) and Oregon (20.3).  The highest zombie-foreclosure rates in U.S. counties with at least 500 properties in the foreclosure process during the second quarter of 2024 are in Broome County (Binghamton), NY (15 percent of homes in the foreclosure process are vacant); Marion County (Indianapolis), IN (9.3 percent); Cuyahoga County (Cleveland), OH (7.6 percent); Erie County (Buffalo), NY (6.6 percent) and Volusia County (Daytona Beach), FL (5.9 percent).  Among zip codes with enough data to analyze, 89 of the top 100 where zombie properties represent the largest portions of all homes are in New York, Florida and Illinois. The largest portions are in zip codes 61605 in Peoria County, IL (one in 151 homes); 32206 in Duval County (Jacksonville), FL (one in 256); 10993 in Rockland County (West Haverstraw), NY (one in 287 homes); 61603 in Peoria County, IL (one in 296) and 10030 in New York County (Manhattan), NY (one in 303).     Report Methodology  ATTOM analyzed county tax assessor data for 102.3 million residential properties for vacancy, broken down by foreclosure status and owner-occupancy status in the second quarter of 2024. Only metropolitan statistical areas with at least 100,000 residential properties, counties with at least 50,000 residential properties and zip codes with at least 1,000 residential properties were included in the analysis.