Charlotte is, undoubtedly, the largest city in North Carolina. Also, it is one of the fastest developing cities or urban areas in the United States of America. Over the years, the city has seen a huge increase in new people visiting and others coming to stay. This is because it is a hub or the center for business and artistic opportunities. Day in and out, the city draws and attracts people from all over the world. Also called the ‘Queen City,’ it is proudly the second biggest Banking Center in the United States of America. It is home to the biggest bank in the world which is ‘The Bank of America’. This is clear reason to make apartments for rent charlotte nc process to be quite confusing considering the number of people moving to work, school and start their lives in the city. Continue reading “Find the Right Apartments for Rent Charlotte NC With This Guide”
National Memorial Day Concert (8 p.m., PBS / UNC-TV) – Joe Mantegna and Mary McCormack co-host the 30th broadcast of this annual Memorial Day concert from the West Lawn of the U.S. Capitol in Washington, D.C. The concert, which honors the men and women of the U.S. armed forces, will have musical performances by Patti LaBelle, Gavin DeGraw, Alison Krauss and Christopher Jackson. A North Carolina veteran gets a bit of the spotlight tonight: Moore County resident Ray Lambert, a 98-year-old highly decorated combat medic who landed on Omaha Beach during World War II, is part of a special taped tribute to D-Day vets narrated by actor Sam Elliott.
Killing Eve (8 p.m., AMC) – In the Season 2 finale, Eve’s mission is disastrously compromised, while Villanelle does everything she can to get to her ultimate target.
Game of Thrones: The Last Watch (9 p.m., HBO) – A special behind-the-scenes documentary shows how the cast and crew dealt with the extreme weather and punishing deadlines of the eight-season series. British filmmaker Jeanie Finlay was embedded on the set of the show throughout the final season. This will also be available on HBO NOW, HBO GO, HBO On Demand and HBO partners’ streaming platforms.
A Discovery of Witches (9 p.m., AMC) – Matthew’s attempt to rescue Diana from Juliette goes horribly wrong in the Season 1 finale.
Some programming descriptions are provided by networks.
In Charlotte, no matter what real estate needs you have, you’ll need one of the best real estate agents to get you the price you want. There are a total of 11,294 real estate agents active in Charlotte, but the top real estate agents in the area are proven to get better outcomes for their clients.
According to real estate transaction data analysis, the top 5% of seller’s agents in Charlotte, on average, sell homes for $36,216 more money than the average Charlotte real estate agent.
U.S. News has partnered with HomeLight to use actual real estate sales data to compare the performance of real estate agents and Realtors® across the United States. For Charlotte, we analyzed real estate data including, but not limited to: how many properties the real estate agents have worked with, how quickly they’ve sold or bought properties for their clients and how much money they’ve earned or saved their clients.
U.S. News’ Find an Agent tool identifies your individual needs, maps your needs to an advanced real estate database, and then connects you with the most qualified real estate agents for you in Charlotte. Your top real estate agent and RealtorⓇ recommendations are unbiased: Agents can’t pay for placement and your matches are based solely on how the agents handled properties like yours in the past. Agents are compared to all other agents in the area on key performance indicators like transaction volume, listings, days on market, sale price to list price ratio, property type expertise, and other relevant data points in their transaction histories. To learn more about HomeLight’s real estate database and algorithm visit How We Identify Top Real Estate Agents.
HomeLight’s Matching Engine incorporates 20+ quantitative and qualitative data points to identify the top-performing agents in your city for your specific criteria.
When you find Top Real Estate Agents in Charlotte through U.S. News, we will email you up to three top real estate agents we’ve identified that meet your criteria, as well as call you to learn more about your real estate needs. We will share with you these real estate agents’ past transactions, areas of expertise, and reviews from past clients. Then you can ultimately decide which real estate agent best suits your needs.
When should I hire a real estate agent in Charlotte?
It all depends on the current state of the Charlotte real estate market, but we recommend speaking to a real estate agent as soon as you’re thinking of buying or selling a home in the area, which may be anywhere from three to nine months before you want to move.
How important is it to hire a top real estate agent in Charlotte?
Whether you’re buying or selling a home, the odds of getting the price you want are higher if you work with a top performing real estate agent. The top 5% of seller’s agents, on average, secure selling prices that are 0.51% more than the list price.
What questions should I ask when interviewing Charlotte real estate agents?
It’s important to understand a potential real estate agent’s experience and expertise. Some essential questions to ask when interviewing real estate agents are: – How many homes have you sold/closed in the last 6 months? – Can you provide me with referrals? – What is your marketing and/or negotiation strategy? – Do you work with a team? – How many days, on average, do your listings take to sell? Any real estate agent that can’t answer one of these questions should raise a red flag.
Do the recommended real estate agents work for U.S. News?
No. The Charlotte real estate agents in this list were selected based on objective performance data and are not affiliated with U.S. News.
Finishing touches are being put on Magnolia affordable apartments for seniors on Beatties Ford Road
As Charlotte’s population continues to grow at about 60 new residents a day; as rents and the cost of home ownership spiral upwards; as gentrification brings higher housing prices to neighborhoods, the city’s affordable housing stock is dwindling.
One thing that developers are using to produce more affordable rental units is a federal program created in 1986. It provides tax credits to developers when they build low-income housing.
Just off of Interstate 85 in Kannapolis, on a two-lane highway lined with churches and single-family homes, residents and local officials gathered alongside a large tract of land. It’s been cleared for construction of the Prosperity Ridge affordable apartment complex for seniors. Residents, developers and city officials gathered for the ground-breaking.
Construction is getting started on a 60-unit affordable housing complex in Kannapolis for seniors. Developers say the federal tax credits made the development possible.
“We’re excited because it’s going to be a beautiful facility and will improve the way things look,” Pastor Christopher Stout said. “It’s a huge need, absolutely.”
Stout’s church sits directly across the road from where the three-level, 60-unit complex of one- and two-bedroom apartments will be built. Rents will range from $350 to $550 a month for people making between 30 percent and 60 percent of the area’s median income.
Kannapolis officials say they need about 2,700 more affordable units like this. Prosperity Ridge is expected to be fully leased before it even opens. That’s why residents like Shirley Stanback and David Perry came to take a look now.
Shirley Stanback (l) and Pastor Christopher Stout and his children are excited about the affordable housing for seniors being built across the road from their church.
“From Concord to Kannapolis, they are very excited about it,” Stanback said. “They’ve been asking me about it — wanting information about who do I sign up for it? When do I sign up? So I’m really thinking about it.”
“Me and my wife both talked about it, so it may be in the plan down the road,” Perry said. “These things going to go like wildfires. It’s going to be beautiful, in a good location near downtown with several churches in the area. It’s going to be real nice."
David Perry of Kannapolis says he and his wife are considering putting in an application for Prosperity Ridge, the affordable housing complex for seniors, when it is completed.
Prosperity Unlimited is one of two companies behind the project. President Louise Mack said it took them five years to get this far.
“It is so hard trying to put together an affordable housing complex,” Mack said. “The tax credit was vital in making that work. If we didn’t have what we call free money, this project wouldn’t have gotten off the ground.”
Just over 70 percent of the financing for Prosperity Ridge came from tax credits the developers received through the federal Low-Income Housing Tax Credit program. It’s the primary federal government program for affordable housing construction. Through the program, tax credits are given to state housing agencies each year to be awarded to developers.
The North Carolina Housing Finance Agency received $28 million in federal tax credits this year. Developers receiving the tax credits make out two ways. They sell the tax credits to banks and other investors for cash, which funds most of the construction. They also get a one-time fee of 10 percent to 15 percent of the value of the tax credit award, which is between $800,000 and $120,000 for the $11 million Prosperity Ridge project.
Developers Louise Mack and Joel Gilland say it took them five years to break ground on Prosperity Ridge in Kannapolis, an affordable housing complex for seniors being funded mainly with federal tax credits.
“The tax credits — that’s the key piece that makes this work,” said Joel Gilland, president of Wesley Community Development, the other partner in the project. “You don’t have to borrow as much which means you can reduce your rents.”
Developers must submit detailed plans for the affordable complexes they want to build to the state housing agency. Residents can make up to 80 percent of the area median income, but the complex’s average has to be 60 percent.
The projects are rated on the design and amenities, and proximity to grocery stores, medical facilities and other services. They also take into account the targeted income of tenants. The projects also have to stay affordable for at least 15 years, even if they are sold. Scott Farmer, executive director of the state’s housing finance agency, said it’s a highly competitive process.
“You really have to have experience or work with a partner who has had experience in working with the housing credit program to have a chance to compete,” Farmer said. “We had about 170 applications this year, and we will fund between 35 and 40 projects. Fourteen were in Mecklenburg County and it looks like all of those were in Charlotte.”
Developers along with city, county and federal officials break ground for the affordable senior apartment complex in Kannapolis.
One of those Charlotte companies is Mosaic Development, which owns the nearly completed senior apartment complex on Beatties Ford Road. The Magnolia apartment complex was awarded tax credits in 2016.
But like Prosperity Ridge, Mosaic’s Executive Director Kathy Stilwell said, “Our Magnolia property will be almost 100 percent leased before it opens,”
“We currently have 72 of the 82 units preleased and enough applications in the pool that we believe will fill the units from the applications we’ve already received." Stilwell said. "The need and demand in Charlotte is incredible.”
Lee Cochran, of Laurel Street Residential, builds affordable housing units with rents as low as $300 in Charlotte and nearby states. Finding tenants is never a concern.
“Our biggest project in Charlotte was finished several years ago — the Renaissance development out on West Boulevard,” Cochran said. “Its 334 units and we typically have a wait list of 2,000 to 3,000 families.”
Over the last two years in Mecklenburg County, 14 projects were approved for tax credits. Five were for seniors and nine were for families. Farmer said some faced opposition because many residents in communities prefer senior complexes over families because they think seniors come with fewer potential problems.
Magnolia affordable apartments for seniors on Beatties Ford Road was financed with federal tax credits.
Although the housing tax credit program has had a lot of success, it is not without critics who say developers and banks who buy the tax credits are getting more benefits than residents. Banks get tax write offs for 10 years and credit for investing in the communities where they operate as required by law.
But Michael Daniel, a Dallas attorney who has filed lawsuits against developers in the program, said banks don’t make many loans in the areas where many of the projects are built.
“You just have no idea of the incredible cascade of cash that these things generate and how little of it actually comes down and provides housing for low income people,” Daniel said.
According to the National Council of State Housing Agencies, the program produces about 100,000 affordable housing units annually. That’s roughly the same amount over the past 20 years, even though the program’s funding has more than doubled. But developers say construction costs have risen significantly and that they don’t want to sacrifice quality rental units for high production numbers. Daniel has a different take.
Kannapolis residents showed up to watch the groundbreaking for the affordable Prosperity Ridge apartment complex for seniors.
“One reason the quality is so high is that the more money you spend on it, the more the tax credits are worth and the higher the developer fees. You’re driving up units by concentrating more and more of the money in fewer units,” Daniel said.
Daniel also questions housing finance agencies’ monitoring of the projects to make sure that developers are not pocketing funds — which some Florida developers were caught doing in 2015 — that the complexes are being kept up and that rents are maintained at the proper levels.
The IRS oversees the program. But a 2015 Government Accountability Office report found its oversight lacking, stating that it audited only seven state housing finance agencies since 1986. Farmer said the North Carolina program has never been audited, but he said they have independent auditors who have not found instances of fraud or abuse.
“We’ve not had anybody who has opted to leave the program and taken the units off line during the 15-year initial compliance period,” Farmer said.
Even so, Farmer said the low-income housing tax credit program is not enough.
"By no means is the housing credit program the answer to all the housing needs," Farmer said. "It’s a very limited resource. We’re only a drop in the buck in what is really needed across that full spectrum."
Construction is expected to be completed on the affordable apartments for seniors in Kannapolis by early 2020.
Legislation is pending in Congress that would increase funding for the program by 50 percent. But Farmer said that will only mean an additional 20 projects could be funded annually with the tax credits statewide, leaving more than 100 applications still on the table.
WFAE is taking a year-long look at Charlotte’s affordable housing problem through our series, Finding Home. Every Monday in 2019, we’ll have stories that examine the problem, seek solutions, and bring you stories from neighborhoods small and large, both in and outside Charlotte. Don’t miss a segment. Sign up for the Best of WFAE weekly newsletter to get the latest Finding Home along with the other most important news of the week.
Acquisition adds another company-owned operation in key U.S. growth market
TORONTO, April 10, 2019 (GLOBE NEWSWIRE) — Leading global commercial real estate services and investment management firm, Colliers International Group Inc. (NASDAQ and TSX: CIGI), announced today the acquisition of Colliers International Charlotte, North Carolina ("Colliers Charlotte"). As a company-owned operation, Colliers Charlotte will further augment Colliers’ owned operations by adding service capabilities in one of America’s vibrant and fast-growing markets. Details of the transaction were not disclosed.
"With an attractive cost of living, leading educational institutions and a highly skilled workforce, Charlotte has become the second largest banking center in the U.S. and one of the best places to do business in the nation," said Ryan Kratz, Colliers International President | U.S. Southeast Region. "The seasoned professionals at Colliers Charlotte already enjoy a strong reputation and, with the resources of our global operations, can now better serve their clients. With this addition, we continue to deliver on our goal of elevating our platform while remaining the most enterprising company in the industry, with a culture that enables our people to maximize every opportunity and accelerate success."
"As an affiliate of Colliers for many years, this was the next natural step for us, providing us the platform to expand our service capabilities in an important and growing market," said Greg Copps, Founding Principal and now, Co-Market Leader for Colliers Charlotte.
"By integrating our operations into the Colliers global platform and leveraging its established infrastructure and industry leadership, we look forward to taking our business to the next level," said Lawrence M. Shaw, Founding Principal and now, Co-Market Leader for Colliers Charlotte.
About Colliers International
Colliers International (NASDAQ, TSX:CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
John B. Friedrichsen
Chief Financial Officer
President, Southeast Region | U.S. Brokerage
Source: Colliers International Group Inc.
CHARLOTTE, NC (WBTV) – This is a staggering number. Apple just announced it has 700-thousand podcasts available on its app. 700,000…and that’s just on Apple. So how does a local podcast standout in all that? A Charlotte businessman thinks he has an answer. I watched as Holly Haze, Jen Byrum and Kristen Burns were recording their weekly podcast called Prime After Prime. They talk about a variety of topics on their podcast.
If you’re not familiar, podcasts are basically audio programs on countless subjects that you can download and listen to at your convenience. The Prime After Prime podcast is part of the newly formed Queen City Podcast Network, which is the brainchild of by Brian Baltosiewich. He says, "The Queen City Podcast Network is a collection of local podcasts. Produced in Charlotte, by people who live in Charlotte, for listeners with some sort of connection to Charlotte." A longtime audio producer, Brian brought together five podcasts a year ago and put them under one umbrella. Each podcast promotes the other podcasts in the network as opposed to individuals promoting themselves, meaning a greater opportunity to grow listener numbers. According to Brian, "They’re produced by people in Charlotte, talking about things happening in Charlotte. Things that affect people who live in Charlotte. So where in a lot of ways, commercial radio has left the local listener behind, we’re kind of here right now to sort of fill in that gap."
And that’s what makes the Queen City Podcast Network so unique…is that its content is exclusively hyper local as Brian calls it. Miller Yoho, who hosts The Charlotte Podcast says, "Our goal is really just to, one, educate the listener as much as possible about different, unique and interesting people in Charlotte. And really the interesting things that are happening that may not be at the top of the surface, but just underneath."
Sarah Pollock is an associate producer of Queen City Podcasts, and adds, "60 people a day are moving to Charlotte. So, that’s a lot of people that need to know what’s happening in Charlotte." And not only are the network podcasts produced locally…they’re hosted by diverse local personalities.
Will Jacobs hosts The Comedy Zone podcast and says, "Because a lot of times you’ll come to see things and sometimes only one perspective is represented. So to come in and say, listen, we don’t want just one kind of Charlotte, we want all that Charlotte is to be represented in this network. The richness. It’s not about color blindness. It’s about appreciating other cultures and appreciating other people and that’s something else I thought we could do with the network and why I’m excited to be a part of it as well." The network studios are located here in the Advent Coworking building which houses a unique business and arts community which, by the way, is getting its on podcast that will debut on the network next month. Brian thinks people want to know more about Charlotte and adds, "I believe in this idea. I believe that, I believe that there’s an appetite for local audio content in Charlotte."
And if all works out well there will be 30 or so shows on the Queen City Podcast Network in the next year. You can find all of the podcasts on the Queen City Podcast Network by going to www.queencitypodcastnetwork.com and it’s free of charge.
CHARLOTTE, NC (WBTV) –
Flood Threat Lingers Lowering Rain Risk Increasing Heat
Thursday produced more areas of intense storms across our region but the difference this time was they did not stall over the mountains. Instead, they started there then roared across the NC/SC Piedmont. Nevertheless, they were once again responsible for more flood warnings and advisories.
Following those storms, skies cleared overnight and so we’re waking up Friday morning to sunshine and cooler 60s all across the area, the coolest morning in 10 days!
More daytime storms are fair game on Friday and over the weekend, but they should be much less organized. A few late on Friday could be on the strong side, so be prepared, just in case, damaging wind and small hail could accompany one or two of them.
As this pattern gradually breaks up, along with the clouds, more sunshine will appear which will quickly drive up temperatures. In fact, we could reach 90 degrees Friday and be close over the weekend.
Saturday’s rain risk looks to be very low at this point. But as another cold front moves through on Sunday, it will bring a higher chance for a few late-day showers and thunderstorms before temperatures drop back to the low to mid 80s next week along with lower humidity. Overnight lows may even fall back into the 50s early in the week!
Hope you have a great Friday and weekend!
– Meteorologist Al Conklin
Get forecast updates for your location with the WBTV First Alert Weather app. Keep track of changing conditions for your location with the WBTV First Alert Weather app.
We’ll alert you to any changes in the weather for your location with the WBTV First Alert Weather app.
Copyright 2018 WBTV. All rights reserved.
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Man intentionally drove car into NC restaurant as family ate inside
Are you still watching?
By Janine Bowen, WRAL.com editor
Gaston County, N.C. — Two dead and several others are hurt after a car crashed into a Gaston County restaurant.
Authorities said a man, identified as Roger Self, walked into Surf and Turf Lodge in Bessemer City with his family, sat the family down, left the restaurant and then intentionally drove his car into the restaurant.
Gaston County Sheriff Alan Cloninger said Self’s daughter, Caitlyn Self, was killed as a result of the incident, which police confirmed was domestic-related. Authorities said Caitlyn Self was an off-duty sheriff’s deputy who had been with the Gaston County Sheriff’s Office for four years.
Authorities did not release the identity of the second deceased victim or say if the second victim was also related to Roger Self.
Authorities said several law enforcement officials were injured as a result of the crash.
Roger Self was in custody Sunday afternoon.
Authorities said there is no indication that drugs or alcohol played a role in the incident.
NC Education Lottery 200
Charlotte Motor Speedway
NASCAR Camping World Truck Series Race #6 of 23 for the 2018 season
Race:Friday May 18, 2018 in Concord, NC
Title Sponsor: NC Education Lottery
Race Time: 8:30pm/et
Scheduled Green Flag (approx): 8:49pm/et
Television Race Coverage: FoxSports1 – 8:30pm/et
Motor Racing Network (motorracingnetwork.com) and SiriusXM Satellite NASCAR Channel 90 (siriusxm.com)
FOX Sports GO. All NASCAR programming on FOX and FOX Sports 1 is streamed live through the FOX Sports GO app that provides live streaming video of FOX Sports content. Requires a participating TV provider. MRN Live Streaming SiriusXM Internet Radio is available via any internet connected device, with a subscription.
Times are local to the Track and subject to change
Thursday, May 17
12:00 PM 2:00 PM NCWTS HAULERS ENTER (EQUIPMENT UNLOAD)
1:30 PM 4:00 PM NASCAR CREDENTIALS OPEN
2:00 PM 5:00 PM NCWTS GARAGE OPEN
Friday, May 18
7:30 AM NCWTS GARAGE OPENS
8:00 AM NCWTS ROOKIE MEETING, SPOTTER MEETING, & RANDOM DRAWING
8:15 AM 8:30 AM NCWTS ROOKIE TRACK RIDE
9:05 AM 9:55 AM NCWTS 1ST PRACTICE
10:35 AM 11:25 AM NCWTS FINAL PRACTICE
3:00 PM 3:45 PM NCWTS AUTOGRAPH SESSION
4:40 PM NCWTS QUALIFYING (SINGLE VEHICLE / TWO ROUNDS)
5:45 PM NCWTS DRIVER / CREW CHIEF MEETING (MEDIA CENTER)
6:35 PM MENCS QUALIFYING (THREE LAPS, WITH PIT STOP – IMPOUND)
8:00 PM NCWTS DRIVER INTRODUCTIONS
8:30 PM NCWTS RACE (134 LAPS, 201 MILES)
NCWTS = NASCAR Camping World Truck Series
SUBJECT TO CHANGE
Stage 1 – 40
Stage 2 – 80
Stage 3 – 134
QUALIFYING, PRACTICE, AND ENTRY INFORMATION
The lakes of Gaston County, North Carolina, have been invaded by a fluorescent-looking "mutant creature," if you believe video that appeared last week on YouTube.
It was posted by a conspiracy theorist channel known for hosting videos of alleged aliens, Bigfoot and "sky serpents."
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The YouTube Channel Disclose Screen says it was filmed April 10 in a 3.5-acre Gaston County lake by someone named Paula Terrell, who is asking for help identifying the fish. "It’s something they’ve never seen before," says a voice over in the video.
Other media outlets have since picked up on the video, including the Daily Star of the United Kingdom and LiveTechInfo.com, all of which are questioning what the creature might be, if not a fish.
"Bizarre 4ft mutant creature spotted in North Carolina lake leaves witnesses baffled," says the headline in the Daily Star.
The footage shows the bluish-colored thing floating close to the surface of water for several minutes, which some see as the first red flag.
Commenters on the internet have guessed it might be anything from a type of a koi to a remote control toy submarine with fake skin wrapped around it. One person suggests it was a dead peacock.
"That is sooo weird. At first it looked like a plastic bag, but when you zoomed in I could see it was a strange looking creature. Do you think someone may have had it in a tank and it survived being flushed," asked YouTube commenter Joanne B.
"Okay, while the folks here in Gaston County haven’t put any rockets into orbit lately, we ARE advanced enough that we don’t flush our toilets into local waterways, ponds, lakes or rivers," responded Jon Patterson, presumably a Gaston County resident. "Like some of the other YouTubers, I also think it is some variety of carp, but how it ended up that color is beyond me. "
"Seen a lotta fake (stuff) on YouTube, but dam this deserves an award," posted Jim Glenn.
It’s not be the first "mutant fish" reported in the Carolinas.
In June, photos of a grotesquely deformed fish posted on Facebook prompted an investigation by the South Carolina Department of Natural Resources, which wanted to know what lake the fish came from and what was wrong with it.
Department officials reposted the photo on their Twitter page in response to growing questions from the public. It is believed the fish came from Lake Cherokee in Cherokee County, a fishing spot that is open to the public and widely used.
State biologists have yet to explain the fish’s appearance, but suspected it might be suffering from tumors.
Folklore also has it that a giant creature lives in the waters of Lake Norman, north of Charlotte. It’s called Normie and is rumored to resemble the Loch Ness monster.
Mark Price: 704-358-5245, @markprice_obs
Racial disparities are always going to crop up as an important issue when considering the economic health of an American city. Whether it’s a world-class metropolis like Chicago, a successful midsize city like Minneapolis or Pittsburgh, or a struggling Rust Belt town like Cleveland or Milwaukee, stories about wages and investment and development and business conditions are almost always tempered by a reminder that African-American residents fail to share equally in whatever prosperity the region generates. Neighborhood segregation is rife, with black residents often forced to endure poor or nonexistent social services, unhealthy environmental conditions, deteriorating infrastructure and high crime rates.
While these problems are to be found in every large American city, some cities do a lot better than others. Atlanta and Washington are especially well-known as cities where black Americans can prosper. In both places, black Americans have relatively high median incomes, home and business ownership rates, while both have seen homicides decline by about 75 percent during the last three decades. Additionally, cities in Texas, with their cheap housing and growing economies, score highly.
But there’s something special about North Carolina. Its two biggest cities, Charlotte and Raleigh, have quietly succeeded in doing relatively well by their black residents. Raleigh especially stands out.
Nationally, the median African-American household income is $38,555 — about one-third less than the median for all Americans. In Charlotte and Raleigh, however, black household income is higher than in most other big cities, with Raleigh doing especially well. Here are the two cities’ positions in Forbes’ list of the 10 cities where black Americans are doing the best economically:
Where the Good Life Is
Median income for black households
Of course, costs matter too. Adjusting for the typical rent of a one-bedroom apartment, Charlotte climbs a couple of spots in the rankings:
Affordable City Living
Median income for black households relative to median annual rent for one-bedroom apartment
Black homeownership rates are also decent, at 41.6 percent in Charlotte and 41.3 percent in Raleigh. Both cities still have considerable black-white income gaps, so this success should be seen in relative terms.
Raleigh and Charlotte are also both known as meccas for black entrepreneurs. Black Enterprise recently declared Raleigh “the startup capital of the South,” with a booming venture capital presence. American Underground, a Google-affiliated organization dedicated to helping connect entrepreneurs, is located in Durham, in the Raleigh metropolitan area; 22.4 percent of its startups are minority-owned. Meanwhile, Charlotte, with more than 13,000 black-owned businesses, has worked hard to promote the trend, and organizations such as BLKTECH Interactive are helping.
Finally, it’s important to note that the attractiveness of North Carolina’s big cities goes beyond simple economics. Both are safe cities as well, with murder rates considerably lower than those of Chicago, Philadelphia or Baltimore. Raleigh has an especially low level of violence:
One More Thing to Like
Murder rate per 100,000 of population
Source: Brennan Center for Justice, author’s calculations
Since black Americans often bear the brunt of local violence, this means that Raleigh and Charlotte are places where African-American children can grow up in a healthy environment.
How did North Carolina’s cities accomplish this feat? One obvious answer is integration. Both Charlotte and Raleigh score relatively well on measures of neighborhood diversity — surprisingly, considerably ahead of both Washington and Atlanta. Even a casual glance at racial dot maps of American cities shows plenty of areas in Raleigh and neighboring Durham that feature a mix of dots. The number of “intensely segregated” schools in Raleigh remains quite low, though the Republican Party has tried to fight this trend. Charlotte, meanwhile, has even less neighborhood segregation than Raleigh. That doesn’t mean racial tensions are nonexistent, of course — far from it. But when white residents aren’t separated from black residents, it makes it harder to ignore the needs of the latter.
Institutions are another factor. The Carolina Small Business Development Fund has partnered with historically black Shaw University in Raleigh, and created a fund for African-American innovators and provided other support in Charlotte.
Meanwhile, both cities have booming economies. Charlotte, a banking hub, has experienced some of the nation’s fastest job growth, and Raleigh’s metropolitan area is emerging as one of the country’s top technology clusters. Economic growth helps fill government coffers with tax revenue that can then be used to create quality infrastructure, affordable housing, social services, good schools and business-development initiatives.
The attractiveness of Raleigh and Charlotte for black Americans is no secret. Rising numbers of black Americans are moving to the South, and the state of North Carolina has been one of the biggest beneficiaries. But these two cities, even in combination with places like Atlanta, Washington and Houston, can only do so much. To really improve life for black Americans, other cities should copy the successful approach of Raleigh and Charlotte — more integration, healthy economies and active support for black-owned businesses. That won’t solve all the problems experienced by black Americans, but it certainly wouldn’t hurt.
(Corrects seventh paragraph of article published March 27 to remove reference to nonprofit status of BLKTECH Interactive.)
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
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