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Real estate analysts say Charlottes apartment building boom could oversaturate the rental market this year, possibly prompting free-rent offers and other concessions as leasing competition intensifies.

Developers, however, say the long-term outlook for the Charlotte apartment market remains bright.

Much of the new apartment growth is coming in and near uptown Charlotte, in areas such as the South End, SouthPark, NoDa and Elizabeth neighborhoods, according to research firm Real Data, which tracks the multifamily rental market.

In its most recent twice-yearly report on the Charlotte market, Real Data in September characterized the citys apartment development pipeline as very active, with more than 8,100 units under construction and nearly 12,000 more proposed.

Supply is expected to exceed demand within a year, the report states.

You can expect to see communities of all ages offering one to three months rent-free in the months to come, in reaction to increased competition, Real Data analyst Engle Addington wrote in an email to the Observer last week.

Frank Warren, a real estate analyst with engineering and land-planning firm Kimley-Horn, said Charlotte is building more apartments than can typically be absorbed in a year. But he added: I am fairly convinced demand is going to remain strong and any oversupply will be of a limited duration.

Developers believe favorable demographic trends and pent-up post-recession demand will cushion them against a possible multifamily market bubble or the need for steep rent concessions.

Lennar, a major single-family homebuilder, is developing Astoria at Metropolitan, a 261-unit complex in midtown, and has two other projects under contract, said John Gray, director of investments with Lennar Multifamily Communities.

Charlottes healthy job and population growth make such projects good bets, he said. Vacancy rates are at about 5 percent, according to Real Data, well below the 7 to 8percent that Warren calls an equilibrium point.

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Is Charlotte building too many apartments?

SACRAMENTO-

Smoking may not be the healthiest thing for you, but Shady Lady General Manager Carl Wengerknows all too well that customers like to smoke.

Not only that, we even sell cigars here. This is a bar, he said.

Wenger says the Shady Lady has a large outdoor patio for that very reason. Weve been open forfive years, he told FOX40 Monday.

But an idea for a new ordinance would ban smoking on the Shady Ladys patio, and every other patioin Sacramento restaurants and bars.

The idea came from Sacramento City Council member Steve Hansen.

When somebody lightsup, I personally have to move to a new table, Hansen told FOX40 Monday. Its about settinga new standard. Sacramento would join over 70 other cities in California that have alreadydone this. Hansen told FOX40 Monday that banning outdoor smoking on restaurant andbar patios is a step in the right direction.

Four city council members will meet at 3 p.m.Tuesday to engage in the first public discussion about a potential outdoor smoking ban.

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Sacramento City Council to Discuss Smoking Ban on Restaurant, Bar Patios

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SACRAMENTO (CBS13) The Sacramento City Council is floating another smoking ban, this one expanding current bar and restaurant restriction to patios.

Councilman Steve Hansen is pushing hard to make most patios and porches off-limits to smokers.

It just seems logical, common sense, that if youre a smoker you can wait until after you are done eating or go somewhere else, he said.

But smokers like Daniel Davis are fired up over the idea of a new ordinance.

In my personal opinion, I think its sort of going too far, because as an American we have the freedom to enjoy ourselves and the pursuit of happiness, and this is my happiness, he said.

Happiness isnt the only thing that could be lost at restaurants and barsit could mean a drop in sales.

I know that when people drink, they tend to smoke more, and so if they want to they will go to places that they can smoke in the area or out on the patio, said smoker Shawn Scheff.

Tim Gibbs with the American Cancer Society claims the losses are overstated and says most may even make more money.

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Sacramento City Council Floating Restaurant Patio Smoking Ban

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