DOUG SMITH’S NOTEBOOK – CHARLOTTE OBSERVER – OCT 17, 2006

Charlotte's Pinnacle Properties LLC plans to break ground Wednesday on an 11-story residential condominium building near uptown. The company said it has sold 64 of 112 one-, two- and three-bedroom units in Royal Court -- a project on Royal Court, near the East Morehead Street-Euclid Avenue intersection.

The building also includes an additional seven top floor-penthouses, two of which are sold. Pinnacle expects to begin moving buyers into their units in the first quarter of 2008. Kevin Thompson, who is handling sales at Helen Adams Realty, said most of the units -- 800 to 1,350 square feet -- sold in the $250,000 to $450,000 range. The most expensive unit is a $2 million penthouse. The 0.8-acre site, about a block from the Dowd YMCA, has unobstructed views of the uptown skyline on one side and the Dilworth tree canopy on the other.

Merriman Schmitt/Architects designed the project. Clayco is partnering with Cox and Schepp Construction Inc. to build it. The sales and model center is located at 610 East Morehead Street across from the Royal Court development site.