UDO Economic Analysis Executive Summary Released

Industry News,

Last week, representatives from the consulting firm Perkins & Will, presented preliminary findings of their economic analysis of the proposed Charlotte Unified Development Ordinance (UDO) to members of the real estate and development community. The firm was hired by the City of Charlotte Planning Department.

During the presentation, there was ample feedback and discussion given; particularly disappointment expressed regarding the lack of detail and quantification of the benefits they indicated as “offsets” to increased development cost impacts. Also discussed were heritage tree regulations and their detrimental impact to future development in Charlotte, EV vehicles, height restrictions, density, etc. The industry continued to express concerns over timing and rush to adopt the UDO in July 2022. Once the city releases the full draft report we expect more dialogue regarding the analysis. Here’s a copy of the executive summary.