The Charlotte Observer’s Ely Portillo examines the issue and the answer seems to be that it may happen eventually but only if the right project comes along. Sample quotes:
With the cancellation of 1Brevard, uptown’s first planned new condo tower since the real estate crash and recession, it might be a while before another developer tries to build a for-sale high-rise.
It’s a stark contrast with the mid-2000s, when condo towers such as the Vue, Avenue and Courtside popped up across uptown. Now, it’s apartments that dominate new development, with a record number of new rentals under construction – and even the 51-story Vue is now apartments after the condos didn’t sell and the tower was foreclosed on and sold to new owners.
And:
“Back in the day when we were selling condos like crazy, we didn’t want to believe that a lot of that was going to flippers and investors,” [David Furman, one of uptown’s most prolific pre-recession condo developers] said. “But it definitely was.”
Now, Furman said he’s looking at sites for possible for-sale projects uptown. But he doesn’t think he’ll be building a new condo tower anytime soon – Furman said a project with 40 to 60 units will be much easier to get off the ground.
“I’m not the guy who’s ready to do 200 units in a high-rise for sale,” said Furman. “That would be hard.”
Bonus thought: In the medium term, it wouldn’t surprise me if some or even most of the demand for condos around Charlotte (and elsewhere) was met by condo conversions.