What: Slides from the Economic Development Briefing When: Wednesday, June 12, 2019 Where: Silverspot Cinema About: Affectionately known as "Places & Spaces," this forum provided a fast-paced, timely state-of-play on several key commercial projects and districts, including downtown Chapel Hill, the Blue Hill District, and downtown Carrboro. - Segment I: “Projects”: Glen Lennox and The Central with Tim Jezisek of Grubb Properties; Caraway Village and Carolina Square with Northwood Ravin (Jeff Furman or Jonathan Matthews); University Place and apartment development with Ram Realty Advisors (Ashley Saulpaugh or David Klepser) South Green with Gary Hill of Avison Young; and Shelton Station with Mark Moshier of Legacy Property Group. - Segment II: “Districts”: Blue Hill District in Chapel Hill with Dwight Bassett of the Town of Chapel Hill and ​Downtown Chapel Hill with Matt Gladdek of the Chapel Hill Downtown Partnership - Segment III “Jurisdictions”: Downtown Carrboro with Annette Stone of the Town of Carrboro; Orange County with Steve Brantley of Orange County Economic Development; and Downtown Chapel Hill with Dwight Bassett of The Town of Chapel Hill​ This forum is part of the 2019 Policy Series and is sponsored by Cardinal Innovations Healthcare, Durham Tech, Haugh Realty Advisors, and Silverspot Cinema. Learn more: https://www.carolinachamber.org/events/details/economic-development-briefing-5624

1. Welcome to the
Economic Development
Briefing
June 12, 2019

2. 2019 Policy Series presented by:
A high-end sophisticated movie theater
#CHCPolicySeries

3. 2019 Policy Series presented by:
A comprehensive community college serving
Durham and Orange counties
#CHCPolicySeries

4. 2019 Policy Series presented by:
Expertise in commercial real estate space & place
#CHCPolicySeries

5. 2019 Policy Series presented by:
Community-based care for complex needs
#CHCPolicySeries

6. The Chamber
SEGMENTS
Projects
Districts
Jurisdictions

7. The Chamber
SEGMENT 1
Projects

8. The Chamber
Project:
Glen Lennox and 137 E. Franklin
Presented by:
Tim Jezisek, Grubb Properties

9. Welcome
Tim Jezisek
VP Development, Grubb Properties
tjezisek@grubbproperties.com

10. Website:
www.glenlennoxvision.com
Facebook:
@GlenLennoxCH
https://www.facebook.com/GlenLennoxCH/
Instagram:
@glenlennoxch
https://www.instagram.com/glenlennoxch/
Twitter:
@GlenLennoxCH
https://twitter.com/GlenLennoxCH
Glen Lennox: Re-Energizing a Chapel Hill Legacy

11. Glen Lennox was built in 1953and comprises ~70acres at the northeast intersection of 15-501& NC54

12. Phase 1: Starting Here
(Block 7)
15-501
Concept site plan from Dev Agr
We have startedwith Block 7,atthe northwest corner, at
Brandon &Hayes.
Underconstruction now: OurLink Lindenapartment building
will feature 215units wrapping a parkinggarage.
Our goal is to make our Link Apartments products the
most affordablenew urbanproduct in the market.
Thefirst units are slated to deliver inOctober of 2020.
Targeting a September 2019construction start,a 106,000
Class A office is envisioned adjacent tothe new Glen
Lennox Drivesignalized intersection at15-501.

13. This year: Extensive underground utility upgrades and installation, parking deck,road bases

16. Copenhagenize: Helping make Glen Lennox a leader in bicycle-friendlyurban design www.copenhagenize.eu

18. “137 Franklin”
&
“136 Rosemary”
Formerly “The Central”
Re-branded to focus on the
strength of downtown Chapel
Hill, especially the Franklin St
address.
118,000 SF Total
$12.5 MM investment in full
interior and exterior renovation
planned 2019-2020
297-space parking deck
(+ adjacent surface lots) =
unparalleled parking access
Co-working, University, &
Professional Offices Envisioned
297-space parking deck with
access by skybridge
136 E Rosemary
137 E Franklin

19. Thank You
Tim Jezisek
VP Development, Grubb Properties
tjezisek@grubbproperties.com

20. The Chamber
Project:
Carraway Village and Carolina Square
Presented by:
Jeff Furman, Northwood Ravin

21. NORTHWOOD RAVIN

23. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

24. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

25. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

26. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

27. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

28. www.NWRLiving.com | #ThisIsNWRLiving |@NorthwoodRavin

29. The Chamber
Project:
University Place and Apartment
Development
Presented by:
David Klepser, Ram Realty Advisors

30. Economic Development Briefing
June 12, 2019
Fordham Boulevard
Apartments

31. 31
SUMMARY
Fordham Boulevard Apartments
•272 Apartment Homes
•Mix of Studios, 1 Bedroom,
2 Bedroom
•Estimated Completion
Early Summer 2020
•Extensive Resident
Amenities

32. 32
Fordham Boulevard Apartments
SITE PLAN

33. 33
RENDERINGS
Fordham Boulevard Apartments

34. 34
RENDERINGS
Fordham Boulevard Apartments
Corner view
at South
Elliott Rd.
and Fordham
Blvd.

35. 35
RENDERINGS
Fordham Boulevard Apartments
View from
Motor Court

36. RECENT AERIAL
36
Fordham Boulevard Apartments
Fordham Blvd.
Eastgate
Crossing
Fordham Blvd.
Apartments
N

37. 37
BOOKER CREEK IMPROVEMENT
Fordham Boulevard Apartments
Public/Private
partnership to improve
flood storage capacity
and provide a
recreational amenity for
the Blue Hill District
Fordham
Apartments
Existing path
Connects to
S. Elliott Rd.
Connects to
public sidewalk
(to Fordham Blvd.)
Elliott
Square
Berkshire
Chapel Hill

38. 38
PROJECT SUMMARY
University Place

39. 39
PHASE I RENDERINGS
University Place

40. 40
PHASE I RENDERINGS
University Place

41. 41
PHASE I RENDERINGS
University Place

42. The Chamber
Project:
South Green
Presented by:
Gary Hill, Woodhill NC, LLC., & Avison Young

43. South Green
Carrboro, NC
Economic Development Forum
June 12, 2019
Gary Hill, Woodhill NC, LLC

59. The Chamber
Project:
Shelton Station
Presented by:
Mark Moshier, Legacy Real Property Group

76. The Chamber
Projects:
Glen Lennox & 137 E. Franklin – Tim Jezisek
Carraway Village & Carolina Square – Jeff Furman
University Place & Fordham Boulevard Apartments – David Klepser
South Green – Gary Hill
Shelton Station – Mark Moshier
SEGMENT 1 QUESTIONS?

77. The Chamber
SEGMENT 2
Districts

78. The Chamber
Districts:
Blue Hill District in Chapel Hill
Presented by:
Dwight Bassett, Town of Chapel Hill

79. _________________
www.BlueHillDistrict.com
_________________

81. Updates
• Floodplain permits from State
expected in May 2019
• Design 90% complete
• Property acquisition underway
• Construction start targeted for
summer 2019
Eastgate
Elliot Sq
Fordham
Blvd
Apts
Elliott Rd Flood
Storage

82. Elliott Road Extension
Updates
• Nearing 70% Design
completion
• Final Design expected
Summer to Fall 2019
• Construction as part of Park
Apartments project
Elliott Rd Extension

83. 0
50000000
100000000
150000000
200000000
250000000
300000000
$154,002,930
262,996,401 262,996,401 262,996,401
BLUE HILL TAX BASE
Series1 Series2
2014 2018 2019 2020
$108,993,000
in net new
tax base.

84. 2016 2017 2018 2019
0
100000
200000
300000
400000
500000
600000
$0
$499,190
$510,089
$554,006
TOWN TAX INCREMENT GROWTH
Tax Increment = new taxes collected by the Town

85. New
development
Development Projects* Status Sq Ft Resid. Sq Ft Comm. Est. Value Completion
Village Plaza Apartments (Alexan)(Berkshire) Occupied
305,000 $ 15,600 $ 61,604,500 FY18
CVS at Rams Plaza Occupied - 10,461 532,000
FY18
Eastgate Building D Occupied - 7,761 776,100
FY18
Rams Outparcel Occupied - 2,700 692,900
FY18
Greenfield Place Occupied 81,599 - 9,383,885
FY19
Hillstone Chapel Hill Construction 400,411 - 58,201,200
FY20
Greenfield Commons (Tax Exemption Pending) Construction 77,775 - 8,944,125
FY20
Fordham Blvd. Apartments** Construction 291,015 - 42,197,175
FY20
Quality Inn Redevelopment Phase I (hotel)** Under Review - 43,040 -
FY20
Quality Inn Redevelopment Phase II (office & residential)**
Under Review 312,037 42,455 -
FY21
The Park Apartments Redevelopment (Phase I)** Concept 376,000 - -
FY21
The Park Apartments Redevelopment (Phase II)** Concept 304,000 - -
FY23
Total 2,147,837 122,017 $ 182,331,885
> Over 2,200,000 square feet of new commercial uses*
> $180,000,000 of new construction in the district
* - Includes multi-family

90. CThe End!

91. The Chamber
Districts:
Downtown Chapel Hill
Presented by:
Matt Gladdek
Chapel Hill Downtown Partnership

92. DOWNTOWN
CHAPEL HILL
E C O N O M I C D E V E L O P M E N T
U P DAT E – J U N E 2 0 1 9

93. PARTNERSHIP UPDATES
NEW EXECUTIVE
DIRECTOR
UNIFIEDVISION STRATEGIC
PLAN
MARKET DATA

94. NEW LEASES
Retail
• Dame’s Chicken &Waffles – Fall 2019
• Gizmo Brewery – Not Announced
• Peño – Fall 2019
• Perennial Coffee Move
• Still Life – Fall 2019
• Curry Point – Fall 2019
• Pho Happiness - Open
• Blue Spoon – Open
• Philly Cheese Steak – Open
• Chase Bank – Fall 2019
Office
• Carolina Square – UNC Lease
• Old Carolina Ale House

95. NEW
PURCHASES
• 137 E. Franklin St. – Grubb Properties
– Almost 100,000 SF of available office space
– $23.5 Million sale

96. FOR SALE
157 E. Franklin Street - $2.4 Million
• Old Bub O’Malley Space
• Opportunity Zone
• .31 Acres

97. UPDATES
• Parking
– Wallace Deck Repairs & Expansion
– Potential W. Franklin St. Deck
• 140W. Plaza
– Asana Improvements
• Amity Station
– In Development Agreement Process
– ±300 Units
– Community benefits

98. QUESTIONS? • Matt Gladdek
• Executive Director
• Chapel Hill Downtown Partnership
• 919-381-7577

99. The Chamber
Districts:
Blue Hill – Dwight Bassett
Downtown Chapel Hill – Matt Gladdek
SEGMENT 2 QUESTIONS?

100. The Chamber
SEGMENT 3
Jurisdictions

101. The Chamber
Jurisdictions:
Town of Carrboro
Presented by:
Annette Stone, Town of Carrboro

102. The Chamber
Jurisdictions:
Orange County
Presented by:
Steve Brantley
Orange County Economic Development

103. The Chamber
Jurisdictions:
Town of Chapel Hill
Presented by:
Dwight Bassett, Town of Chapel Hill

104. The Chamber
Jurisdictions:
Town of Carrboro – Annette Stone
Orange County – Steve Brantley
Town of Chapel Hill – Dwight Bassett
SEGMENT 3 QUESTIONS?

105. Economic Development
Briefing
June 12, 2019