2012 Chatham County Development Briefing
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Transcript of 2012 Chatham County Development Briefing
Welcome to the
2012 Chatham County Development Briefing
Presented by
Briefing Breakfast Sponsor
Briefing Development Sponsor
Briefing Gold Sponsors
Briefing Silver Sponsors
Briefing Bronze Sponsor
Sara Donaldson
Briefing Table Sponsor
Briefing Hosts
2012 Community Champions
2012 Platinum Sponsors
2012 Gold Sponsors
2012 Gold Sponsors
Welcome
Justin Purdy, Time Warner Cable Business Class
RESIDENTIAL REAL ESTATE Mark Zimmerman, RE/MAX Winning Edge
Chatham County Development Briefing
March 13, 2012
Greater Chapel Hill Association of REALTORS®
Mark ZimmermanAll data from TMLS Local Market Statistics Reports
2011 Prospects
• Positives– No Tax Credit– Affordability
• Rates/Prices
– Triangle job growth– Manageable local foreclosures– More positive national real estate – Pent up demand
• Negatives– Chatham hit harder
2011 The Turnaround Year
• 2010 Trends are good for a recovery– Sales– DOM– Inventory
• Not robust, but directionally good– Not too far.– Not too fast.
Chatham2011 – On the Road to Recovery
How’d we do? A Look at Trends• Triangle & Chatham Counties
– Sales (Closed Transactions)– DOM– Inventory
• Caveats– TMLS Local Market Statistics– Some small sample sizes– Macro view
• Submarkets and Price Points will vary
TriangleSales Deceiving
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0
500
1000
1500
2000
2500
Triangle Closed Sales2/2011 - 1/2012
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0%
20%
40%
60%
80%
100%
120%
140%
Triangle Sales v YA2/2011 - 2/2012
ChathamSales Trend Continuing Up
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0
10
20
30
40
50
60
70
Chatham Sales 2/2011 - 1/2012
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0%
20%
40%
60%
80%
100%
120%
140%
160%
Chatham Closed Sales 2/2011 - 1/2012
OrangeSales Trend Struggled Last Year
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0
20
40
60
80
100
120
140
160
Orange County Sales
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0%
20%
40%
60%
80%
100%
120%
140%
160%
180%
200%
Orange County Sales vs YA
ChathamTaking Longer to Sell
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0%
20%
40%
60%
80%
100%
120%
140%
Chatham Ave DOM v YA2/2011 - 2/2012
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0
20
40
60
80
100
120
140
160
180
200
Chatham Ave DOM2/2011 - 1/2012
ChathamFewer New Listings
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
020406080
100120140160180200
Chatham New Listings 2/2011 - 1/2012
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0%
20%
40%
60%
80%
100%
120%
140%
160%
Chatham New Listings v YA 2/2011 - 1/2012
ChathamInventory decreasing
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
0
100
200
300
400
500
600
700
800
Chatham Inventory 2/2011 - 1/2012
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07Jul-0
7
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
75%
80%
85%
90%
95%
100%
105%
Chatham Inventory v YA 2/2011 - 1/2012
ChathamChallenges
• Supply of Inventory– Triangle - 7.6 months– Chatham - 12 months
• Why? Oversupply of homes– Census 2000-2010
• Population growth +28.7% • Housing Units +34.6%
ChathamHigh End Still Stagnant
• Closed Sales – Last 12 Months– Total – 601– $500,000+ 71 (11.8%)
• Most $500,000+ sales in two areas– The Preserve & Governors Club
• Current Inventory– Total – 667– $500,000+ 171 (25.6%)– 28.9 Months of Inventory
Chatham 2012Positive Trends
• Affordability– Rates/Prices
• Triangle job growth• Manageable local foreclosures• More positive national real estate • Pent up demand
Chatham 2012Positive Trends
• Sales trending up• Working through inventory
– Less supply, less downward price pressure
Chatham 2012Challenges
• Continuing Buyer Hesitancy• Need More Jobs• Financing still challenging• Appraisals will need to catch up• High end inventory• Long way to go
Chatham2012 – On the Road to Recovery
Introduction: Commercial Real Estate
Tony Matthews, CenturyLink
COMMERCIAL REAL ESTATE Sledd Thomas, Commercial Carolina
TRENDS IN NON-RESIDENTIAL/COMMERCIAL
REAL ESTATEIN CHATHAM COUNTY,
NORTH CAROLINA
Chatham County Chamber of CommerceSledd Thomas, CCIM
March 13, 2012
CCIM• A Certified Commercial Investment Member (CCIM) is a recognized
expert in the disciplines of commercial and investment real estate. The designation is awarded by CCIM Institute. CCIMs must be proficient in the areas of investment analysis, market analysis, user decision analysis and financial analysis for commercial real estate.
• Of the more than 150,000 commercial real estate professionals in
the United States, only an estimated 6 percent, some 9,500 hold the CCIM designation.
• CCIM members are responsible for an approximate US$400 billion annually of real estate transactions globally. CCIM Institute is a commercial affiliate of the National Association of Realtors. CCIM Institute is headquartered in Chicago, Illinois.
Using the Real Estate Cycle to Determine Trends
REAL ESTATE CYCLE
LOW VACANCIES
INCREASING PRICES
INCREASINGCONSTRUC-TION
OVER SUPPLY LEADS TO INCREASING VACANCY
DECLINING PRICES LEADS TO DECLINING
CONSTRUC-TION
ABSORPTIONOF
EXCESS
Overview of:
• The county from a non-residential perspective;
• Availability of square footage by segment;• Vacancy rates and pricing by category;• Recent transactions; and• Trends in commercial real estate vacancy,
price and construction.
Commercial Categories
• SHOPPING CENTERS/RETAIL• INDUSTRIAL/WAREHOUSE• OFFICE• FLEX SPACE
Shopping Centers/Retail/Pittsboro East
Name, Retail Pittsboro AddressYear Built
Total Sq. Feet Vacancy
Rate PSF Contact Person Phone
Bellemont Station 120 Lowes Dr 2008 13,301 2,497 $ 17.00 Mary Lobdell, CBC-TMP 919-227-5512
Cooper Ford Bldg. 44 Hillsboro St. 1915 9,604 1,018 $ 12.00 Mary Lobdell, CBC-TMP
919 -227-5512
Cole Park Plaza 11600 US Hwy. 15-501 N 82,258 26,264 $ 19.00 Robin Hilliard, WR 919-845-3938
Chatham Crossing, (Chapel Hill) 11312 US Hwy. 15-501 N 1997 96,155 10,660 $ 19.00 Ken Wygle, WR 919-845-3941
Chatham Downs, Harris Teeter 88 Chatham Downs 2006 80,110 3,854 $ 24.00 Mark Pitney 919-844-2044
Pittsboro Shopping Ctr. Piggly Wiggly 317 East Street 44,851 1,332 $ 6.00 K. Senchak, Lundy Grp. 919-602-4003
Food Lion, Governor's Village 50,000 Gov's. Village 1999 39,000 1,200 DNR Nate Cretarolo, GFDM 919-677-9400
Food Lion, Pittsboro 630 East Street 1990 49,520 5,000 DNR Carolyn Schmid 336-545-0059
General Store 100 West Street 1940 10,000 10,000 DNR John Justice
The Shops @ Governor's Village 50170 Governors Drive 2005 3,000 1,530 $ 17.00 Chris Ehrenfeld, DR 919-883-5500
VACANCY 63,355
TOTAL SQ. FT. BUILT. 427,799
Ratio & Average Price PSF 0.15 $ 16.29
Williams Corner 15-501 & Lystra Ch. Rd. U/D
Polks Landing 15-501 & Polks Landing U/D Marvin Waldo
Fugo-Montgomery Dev., K. Bradley 15-501 & County Line U/D John Fugo / WALMART
Vacancy % Avg. Rate
VACANCY 63,355
TOTAL SQ. FT. BUILT. 427,799
Ratio & Average Price PSF 0.15 $ 16.29
Shopping Centers/Retail/Siler City
Name, Retail Siler City AddressYear Built Sq Ft Vacancy
Rate PSF Contact Person Phone
Siler Crossing 100 Siler Crossing 1988 132,639 49,436 $6.50 Martin Cook, BPG 335-889-5437
Chatham Crossing, Wal-Mart 14215 U.S. Hwy. 64 W. 2002 31,975 6,005 $ 12.00 N. Schuman-Werb, RCR 919-518-2000
Chatham Square Shopping Center 219 Hwy. 64 & Raleigh Rd 67,950 35,100 $ 6.00 Jason Stove, IP 919-782-4798
Chevrolet Dealership 1334 E 11th St 19,780 19,780 F/S H.R. Gallimore 336-626-5560
Tyler's 1242 E 11th St 8,300 8,300 Dean Mathias 919-742-4307
Baker Limestone 909 E 11th St 6,000 6,000 Property Owner 919-548-2913
Chatham Pharmacy (Floodplain) 518 W Raleigh St 5,600 5,600 Wayne Francisco 434-770-8909
Vojdani 623 E 3rd St 5,399 5,399 Shelia Walston 919-548-6317
Centurylink 96 Piney Grove Ch Rd 5,000 5,000 Bill Aucin 919-968-4017
Old Pizza Hut 611 N 2nd Ave 3,588 3,588 Larry Booth 919-740-8076
Dixon Home and Building 819 E 3rd St 2,800 2,800 Steven Coble 919-548-2427
Pantry 1010 Greensboro Ave 2,760 2,760 Drew Huggins 919-880-6715
Copper Penny 1110 N 2nd Ave 2,037 2,037 336-855-6708
Auto Shop (Floodplain) 410 Fayetteville Ave 2,000 2,000 Scott Harris 919-498-4077
Express Wash Laundry 609 N 2nd Ave 1,891 1,891 Larry Booth 919-740-8076
VANCANCY 155,696
TOTAL SQ. FT. BUILT 297,719
Ratio 0.52
Vacancy %, Average Rate
Industrial/WarehouseName, Industrial Pittsboro Address
Year Built Total Sq Ft Vacancy Rate PSF Contact Person Phone
Farrell's Workplace 1718 Farrington Pt. Rd. 2009 10,560.00 $ 1,680.00 $ 7.14 John Daly, RP 919-259-3148
Name, Industrial AddressYear Built Total Sq Ft Vacancy Rate PSF Contact Person Phone
Former Acme McCrary (SOLD $150,000), Now "Third St." 1200 E 3rd St 1955 182,674.00 182,674.00 $1.00Charles Gardner 910-818-4093
Charles Craft (Rail, Floodplain) 701 N Chatham Ave 120,000.00 100,000.00 $1.00Charles Gardner 910-818-4093
Nationwide Custom Homes45 Siler City Industrial Park '69-'93 84,550.00 84,550.00 $1.00
Doug Faris, Currently For Sale, $695,000.00 704-904-0875
Boling Chair 3 Story (Rail, Historic, Floodplain) 121 W 5th St 75,366.00 75,366.00 $1.00Frank Edmondson 336-465-1600
Chatham Novelties (Rail) 810 S Chatham Ave 1970 72,269.00 72,269.00 $1.00John Morris 919-799-6869
Coleman Cable 1311 N 2nd Ave 1970 65,374.00 65,374.00 $1.25Sledd Thomas 919-510-6792
Cox & Bleggi (Rail)55 Siler City Industrial Park 45,000.00 45,000.00 DNR Andy Bleggi 910-695-2645
Pilgrims Pride Hatchery (Rail, Floodplain) 222 W Raleigh St 37,380.00 37,380.00 H.R. Gallimore 336-626-5560
Linrene Furniture 2535 Old US 421 N 30,000.00 30,000.00 Joe Short 919-742-9391
Goldston 751 S. Church St. 1967 350,000.00 200,000.00 $1.95Bryan Everett, G&E, T.L.G. 919-719-8192
Total Sq. Ft. Built 1,062,613.00 $8.20
Total Sq. Ft. Vacant 892,613.00
Ratio 0.84
Avg. Negotiable Rate. $1.17
Available Warehouse, SF Totals
Total Sq. Ft. Built 1,062,613.00 $8.20
Total Sq. Ft. Vacant 892,613.00
Ratio 0.84
Avg. Negotiable Rate. $1.17
Office/Pittsboro/EastOffice Category, Pittsboro
Name, Office AddressYear Built Sq Ft Sq Ft
Rate PSF Contact Person Phone
Nooe Building 224 East St. 1925 3,020.00 358 $ 25.14 Linda Jacobs, CBCA 919-740-8817
Pittsboro Business Ctr. 288 East St. 2004 6,000.00 2,000.00 $ 30.43 Linda Jacobs, CBCA 919-740-8817
Main Street Station 287 East St. 2008 18,000.00 10,000.00 $ 18.00 Sledd Thomas, CCC 919-510-6792
Log Cabin 1035 Mt. Carmel Ch. Rd. 1084 1,585.00 1,585.00 $ 14.00 Steve Doyle, NSR 919-619-0192
Old Pittsboro Hospital 45 West Street 1949 6,467.00 6,467.00 F/S Thom Whisnant 919-612-5296
Bold Bldg. @ Governor's Village 50101 Governor's Drive 2000 27,703.00 10,583.00 $ 17.00 Chris Ehrenfeld, DR 919-883-5500
East St. Plaza / Commerce Court 114 Commerce Court 2006 3,600.00 1,200.00 $ 12.00 Wade Turner, CSR 919-542-2667
Platimun Commons 1016 Thompson St. 2006 21,000.00 3,500.00 $ 16.00 Kris Howard, CHR 919-545-2333
Harpers Crossroads Seafood 20050 NC 902 Hwy. 1972 7,100.00 7,100.00 DNA Scott Thomas, CSR 919-548-5643
In the town of Goldston 1989 North Main St. 1940 4,673.00 4,673.00 DNA Kristi Wilkie, CCR 919-533-5227
15-501 Antiques 9555 US 15-501 Hwy. 1850 4,000.00 DNA Scott Thomas, CSR 919-548-5643
Total Built 103,148.00
Total Vacant 47,466.00
Ratio 0.46 $ 18.94
Available Office BuildingsTotal Square Feet
Total Built 103,148.00
Total Vacant 47,466.00
Ratio & Avg. Rental Rate 0.46 $ 18.94
Office/Siler CityOffice Category, Siler City
Name, Office AddressYear Built Sq Ft Sq Ft
Rate PSF Contact Person Phone
Old Chatham Hospital 300 N Ivey Ave 56,400.00
56,400.00 Becky Quate
919-799-4003
Old Dialysis Center 806 W 4th St 6,102.00
6,102.00 Becky Quate
919-799-4003
Alamance Eye 404 N Holly Ave 2,572.00
2,572.00 Becky Quate
919-799-4003
Estridge Home 505 S Chatham Ave 2,323.00
2,323.00 Shelia Walston
919-548-6317
Siler Business Park 124 Village Lake Rd 2,000.00
2,000.00 Lonnie West
919-619-0047
GEM Holdings Office Suite 108 Village Lake Rd
1,935.00
1,935.00 Eric Andrews
919-548-1014
Siler Business Park 128 Village Lake Rd 1,700.00
1,700.00 Lonnie West
919-619-0047
Siler Business Park 130 Village Lake Rd 1,700.00
1,700.00 Lonnie West
919-619-0047
Flex Space
• Examples of Flex Space are found at North Chatham Park
• Not much available Flex Space Exists in the County.
Recent Major Transactions & Pricing by Market CategoryAKPAR NAME Known As ADDRESS
ACT. YR BLT. SALE DATE
SQ. FOOT AGE
SALE PRICE (Based on Rev. Stamps)
ACREAGE
Price Per Bldg. Sq. Ft. Price per Acre
0017011 OMTRON USA LLC Former Townsends 1101 E. Third St. 1965 20110301 43,236 $ 22,000,000 587 $ 508.84 $ 37,479
0075775 REKME LLC Nursing Home 140 BROOKSTONE LN 1999 20110126 41,352 $ 6,250,000 4.75 $ 151.14
0075864 SILER CITY (CHATHAM) WMC LLC S.C. Walmart109 WALMART SUPERCENTER 2001 20110107 32,000 $ 3,350,000 4.01 $ 104.69
0076560 BOLD GV LLC New Bold Office Bldg. 50101 GOVERNORS DR 2000 20110819 56,320 $ 2,750,000 4.19 $ 48.83
0080884 MOMA LLC New O-2 Fitness 11 COLE PLACE 2005 20111216 19,800 $ 2,308,000 5 $ 116.57
0084526 BIG WOODS II LP From Spoon Dev. 120 LOWES DR 2007 20110916 15,738 $ 1,050,000 1.68 $ 66.72
0019433 RBC BANK (USA) Comm. Constr. Office721 MT CARMEL CHURCH RD 1900 20110901 7,596 $ 737,500 5.68 $ 97.09
0006900 VEOLOGICA LLC Former Chevy Dlrshp. 697 HILLSBORO ST 1994 20110831 16,020 $ 700,000 4.5 $ 43.70
0013582 PALM HARBOR HOMES INC CAVCO45 SILER CITY INDUSTRIAL PARK 1969 20110503 85,817 $ 650,000 13.5 $ 7.57 $ 48,098
0088074 MURPHY OIL USA INC Gas Station 107 NEW CHATHAM RD 2010 20100104 1,269 $ 590,000 0.83 $ 464.93
0076255 MCM REAL ESTATE LLC Strata Solar2835 FARRINGTON POINT RD 2000 20101110 14,700 $ 580,000 14.2 $ 39.46
0068486 GILL LORRAINE L Former Remax (?) 288 EAST ST 2004 20100804 5,625 $ 550,000 0.37 $ 97.78
0086258 YEUNG INTERESTS LLC Lowes Out Parcel LOWES DR 2011 20100426 5,600 $ 385,000 0.84 $ 68.75 $ 458,333
0080423 NORTH CHATHAM 40 LLC N. Chatham Park43 NORTH CHATHAM PKWY 2003 20100730 2,000 $ 283,000 0.05 $ 141.50
0081284SWIFT CREEK PROPERTY MANAGEMEN Jordan Lake Bus. Ctr. 1434 FARRINGTON RD 1930 20101116 2,304 $ 185,000 0 $ 80.30
0081287 FAGET GEORGE Jordan Lake Bus. Ctr. 1434 FARRINGTON RD 1930 20100720 1,536 $ 159,000 0 $ 103.52
0016428 D H GRIFFIN WRECKING CO INC Former Pilgrims Pride 702 S CHATHAM AVE 1942 20111010 67,743 $ 85,000 8.27 $ 1.25 $ 10,273
Lender & Former Owners Acorn Inv. Assoc's. Westfalls Land 2011221 $ 2,250,000 311 $ 7,234.7
Omtron
Cambridge Hills
Wal-Mart Shopping Center
Bold Building – Gov. Village
O2 Fitness
Bellemont Station
721 Mt. Carmel Church Road
Pittsboro Chevrolet
CAVCO - Palm Harbor Homes
Murphy Oil Gas Station
Strata Solar
288 East Street
Bellemont Station Outparcel
North Chatham Park Condo
Jordan Lake Business Park
Pilgrims Pride
Westfall
Unit Price Summary
Price Per Bldg. Sq. Ft. Price per Acre
$ 508.84 $ 37,479 $ 151.14 $ 104.69 $ 48.83 $ 116.57 $ 66.72 $ 97.09 $ 43.70 $ 7.57 $ 48,098 $ 464.93 $ 39.46 $ 97.78 $ 68.75 $ 458,333 $ 141.50 $ 80.30 $ 103.52 $ 1.25 $ 10,273
$ 7,234.7
Using the Real Estate Cycle to Determine Trends
REAL ESTATE CYCLE
LOW VACANCIES
INCREASING PRICES
INCREASINGCONSTRUC-TION
OVER SUPPLY LEADS TO INCREASING VACANCY
DECLINING PRICES LEADS TO DECLINING
CONSTRUC-TION
ABSORPTIONOF
EXCESS
Major Developing Projects• Construction Projects• Galloway Ridge• Carolina Meadows
• Subdivision• Chatham Park, 7,108 Acres• Briar Chapel• Westfall
Today’s Market• Examples of:
Increasing PricesIncreasing ConstructionOversupplyIncreasing VacancyDeclining Prices & ConstructionAbsorption of ExcessLow Vacancies
Introduction: Chatham Economic Development
Kristy Yule, Newland Communities
CHATHAM ECONOMIC DEVELOPMENT UPDATE
Dianne Reid, Chatham Economic Development Corporation
Chatham County Development Breakfast
Dianne ReidPresident, Chatham EDC
Mission Statement
Building on the County’s strategic location between the Triad and Triangle, we are
positioning Chatham as the preferred location for emerging growth companies.
WORKING WITH BUSINESSES
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Attraction2011 Actual 2012 Target To Date Actual
Number of new clients locating in Chatham County
3 3 4
Number of new jobs created by new businesses
80 150 156
Value of jobs created (measured by annual payroll)
$2.89M $3.0M $3.64
Capital investment by new client firms (millions of dollars)
$11.4M $15M $2.5M
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Acme-McCrary
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Value Outsourcing Solutions
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Alpha-Install Hayes Iron and Metal
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Retention2011 Actual 2012 Target To Date Actual
Number of expanding businesses assisted
8 4-5 9
Number of jobs created through expansion
63 75-125 220
Value of jobs created (measured by annual payroll)
$2.27M $2.25-4M $5.73M
Capital investment by expansion of existing businesses
$7.6M $5.3M $129.3M
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Lazar Industries
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Galloway Ridge
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Strata Solar
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Entrepreneurship2011 Actual 2012 Target To Date Actual
Number of aspiring entrepreneurs assisted
67 60-100 81
Number of jobs created by entrepreneurs and start-up businesses
54 100 45
Value of jobs created (measured by annual payroll)
$1.94M $5.4M $1.62M
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
UnWINEd
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Small B&B Cafe
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
QUALITY OF PLACE
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Siler City & NC STEP
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Pittsboro & Small Town Mainstreet
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
INFRASTRUCTURE AND BUSINESS CLIMATE
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Product Development
Absorbed: 387K (Joan)
280K (Jennifer)
63K (84 Lumber)15.5K (Pitts. Chev)
Total :Demo:
745.5K53K (Pilgrims)
TOTAL: 798.5K
New Product Development:Chatham ParkHighway 421 CorridorBoras/Griffin SiteCentral Carolina Business Park
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Infrastructure & Business Climate
• Pre-Application Meetings• Goldston• Pittsboro• Siler City
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
BRANDING
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
Working with Businesses Quality of Place Infrastructure and Business Climate Branding
ContactChatham Economic Development
CorporationP.O. Box 1627 | 964 East Street
Pittsboro, NC 27312
www.chathamedc.org
GALLOWAY RIDGEHeather Rusnak
Galloway Ridge at Fearrington
GOVERNORS VILLAGEChris Ehrenfeld, Domicile Realty
• Governors Club• Governors Village POA• Governors Village Business District
What is Governors Community?
Governors ClubGated golf course community with 27 hole Jack Nicklaus Signature Golf Course
Completed Homes: 883Remaining Lots: 320
Mixed Use Community • Governors Village Homes: 100• Governors Park Homes: 144• Governors Lake Homes: 51• Governors Forest Homes: 49• The Townes: 160• Camden Apartments: 242
Total Households in Governors Village:
746
Governors Village POA
2010 2011
Governors Club: 25Governors Park: 4Governors Forest: 1Governors Lake: 0Governors Village: 5The Townes: 24
TOTAL: 59
Governors Club: 30Governors Park: 8Governors Forest: 3Governors Lake: 2Governors Village: 2The Townes: 20
TOTAL: 65
10% increase!
GC Sales Statistics
In Governors Village POA, Governors Club, & Carolina Meadows combined, there are
over 2,400 households!
CAROLINA MEADOWS RETIREMENT COMMUNITY
700 Residents 425 Employees
3 mile radius, Average household income of $126,531
5 mile radius. A population of over 60,000
www.villagenc.com
AREA DEMOGRAPHICS
Governors Village
D
B
C
A
45,000 sf shopping center Anchor: Food Lion Grocery 10,000 sf outparcel Bean & Barrel, Tarantini’s and Atkins Dental
PARCEL A - GOVERNORS VILLAGE
SHOPPING CENTER
Recent Improvements:o New local Ownershipo Local Management o Local Leasing Agent
Best deal in Class “A” office space in
the area
54,000 sf Class A office building
Approx. 30,000 sf available for lease
One of the largest Class A office buildings in Chatham
Tenants include : TRC Environmental, Battelle Scientific, CargoSphere, The Chatham Group, Aegis Home Care, Edward Jones, Chatham County Sheriff, Integrated Learning Innovations
Parcel B – BOLD Building
Parcel C
10,000+ sf retail – SOLD out in 2011 Domicile Realty, Build Ex, Igloo Frozen Yogurt and Governors Pharmacy.Two Future BuildingsNext building opening in the fall of 2012
PARCEL C:THE COMMONS
@ GOVERNORS VILLAGE
Parcel D – 2013/2014
significant increase in # of homesstrong demographics
Great opportunity for new businesses
GOVERNORS VILLAGEBUSINESS DISTRICT
SILER CITY, NCMayor Charles Johnson, Johnson Real Estate & Investment
Town of Siler City
• Population = 7,877 (Up 13.2%)
• Housing Units = 2,890 (Up 14.4%)
Downtown Siler City
UNC Carolina Air Care
Siler City Municipal Airport (AWOS)Automated Weather Observation System
Acme-McCrary
Chatham Warehouse Leasing
VOS (Value Outsourcing Solutions)
NC License Plate Agency
Hayes Iron and Metal
Tripp Cottages
Brookwood Farms
JRC Logistics
Lazar Industries
NC STEP Implementation
• Central Park = $15,000• Downtown Façade Program = $15,000• Plugging Money and Energy Leaks = $15,000• Wayfinding Signs = $13,350• Downtown Master Plan = $9,000• Learning and Microfinance Garden = $7,000• Retirement Community/Destination = $5,000• Film Festival = $5,000• Rocky River Nature Trail = $4,000• Branding Implementation = $4,000• NCDOT Pedestrian Planning Grant = $3,100
SECU
Dr. Lane Dentistry
Loves Creek Greenway Trail
Central Carolina Business Campus
Siler Business Park
Introduction: Chatham County Government
CHATHAM COUNTY BOARD OF COMMISSIONERS
Brian Bock, Chair
Questions?
Aaron Nelson, CEOChapel Hill-Carrboro Chamber of
Commerce
Thank you for attending
2012 Chatham County Development Briefing
Presented by
Briefing Breakfast Sponsor
Briefing Development Sponsor
Briefing Gold Sponsors
Briefing Silver Sponsors
Briefing Bronze Sponsor
Sara Donaldson
Briefing Table Sponsor
Thank you for attending
2012 Chatham County Development Briefing