2012 Orange County Development Briefing
-
Upload
chapel-hill-carrboro-chamber-of-commerce -
Category
Real Estate
-
view
610 -
download
0
description
Transcript of 2012 Orange County Development Briefing
![Page 1: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/1.jpg)
Welcome to the
2012 Orange CountyDevelopment Briefing
![Page 2: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/2.jpg)
Presented by
![Page 3: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/3.jpg)
Gold Sponsor
![Page 4: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/4.jpg)
Silver Sponsor
![Page 5: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/5.jpg)
Bronze Sponsors
![Page 6: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/6.jpg)
2012 Community Champions
![Page 7: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/7.jpg)
2012 Platinum Sponsors
![Page 8: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/8.jpg)
2012 Gold Sponsors
![Page 9: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/9.jpg)
2012 Gold Sponsors
![Page 10: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/10.jpg)
If you’re tweeting this event, use #OCDB12 as a hashtag
![Page 11: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/11.jpg)
Justin Purdy
![Page 12: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/12.jpg)
Orange County Development Briefing
The Residential Real Estate Market
October 11, 2012Mark Zimmerman
All data provided by Triangle Multiple Listing Service and 10K Research and Marketing
![Page 13: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/13.jpg)
Where We’ve Been
• 2010 and before– Pessimism– No end in sight
• 2011– Pessimism Continued– But some “Green Shoots”• 2nd Half better – relative to YA
![Page 14: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/14.jpg)
![Page 15: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/15.jpg)
![Page 16: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/16.jpg)
2012
FOUR
![Page 17: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/17.jpg)
Where We Are - 2012
![Page 18: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/18.jpg)
2012 – Road to Recovery
• Sales– Buyers have returned
• Days on Market– Holding steady
• Inventory– Less competition, less choice
• Month’s Supply– Back to an even playing field
![Page 19: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/19.jpg)
2012 – Road to Recovery
• Sales – YTD, August, 2012– Triangle• +18.4%
– Orange County• +11.2%
– Chapel Hill/Carrboro• +16.4%
– Hillsborough• +10.5%
![Page 20: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/20.jpg)
2012 – Road to Recovery
• Days on Market – YTD, August, 2012– Triangle• 121 Days (126 YA -4.0%)
– Orange County• 129 Days (124 YA +4.3%)
– Chapel Hill/Carrboro• 132 Days (126 YA +4.6%)
– Hillsborough• 110 Days (125 YA -12.2%)
![Page 21: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/21.jpg)
2012 – Road to Recovery
• Inventory – YTD, August, 2012– Triangle• -25.3%
– Orange County• -25.6%
– Chapel Hill/Carrboro• -25.5%
– Hillsborough• -12.1%
![Page 22: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/22.jpg)
2012 – Road to Recovery
• Month’s Supply – YTD, August, 2012– Triangle• 7.0 (10.9 -35.8%)
– Orange County• 7.8 (11.3 YA -31.3%)
– Chapel Hill/Carrboro• 7.6 (11.4 -33.0%)
– Hillsborough• 9.5 (11.9 YA -20.8%)
![Page 23: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/23.jpg)
Orange County – Aug, 2012Price Listings % Chg vs
YAYTD Sales % Chg vs
YAMonth Supply
Ave DOM
0-149 80 -5% 92 -5.2% 7 141
150-199 41 -43% 81 +15.7% 4 140
200-299 127 -14% 147 0.0% 7 127
300-399 95 -2% 127 -2.3% 6 115
400-599 102 -28% 152 +11.8% 5 116
600-799 50 -26% 66 +37.5% 6 161
800+ 66 -10% 33 -8.3% 16 152
Total Detached 561 -18% 698 +5.1% 6
Condo 103 -21% 99 +39.4% 8 235
Townhouse 75 -11% 118 +24.4% 5 116
Total 739 -21% 915 +10.2% 6 145
![Page 24: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/24.jpg)
New Construction – 2nd Qtr, 2012Orange County
Price Listings % Chg v YA YTD Sales % Chg v YA Supply
0-149 1 -50% 0 -100% n/a
150-199 4 -33% 3 -77% 8
200-299 10 0% 2 0% 30
300-399 7 -61% 15 +15% 3
400-599 17 -26% 19 +138% 5
600-799 7 +17% 5 +67% 8
800+ 8 -20% 0 -100% n/a
Total Detached 54 -21.7% 44 +2.3%
Condo 35 -33% 7 +133% 30
Townhouse 22 +120% 18 -31% 7
Total 111 -19% 69 -4% 10
![Page 25: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/25.jpg)
![Page 26: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/26.jpg)
Not There Yet – Annual Sales
2006 2007 2008 2009 2010 2011 2012*0
200
400
600
800
1000
1200
1400
Chapel Hill - Carrboro
2006 2007 2008 2009 2010 2011 2012*0
200400600800
100012001400160018002000
Orange County
2006 2007 2008 2009 2010 2011 2012*0
500010000150002000025000300003500040000
Triangle
*12 month thru 10/10/2012
![Page 27: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/27.jpg)
What Could Go Wrong?
• Economic downturn– Slow drift into recession– European crisis– Fiscal Cliff
• Self Inflicted Wounds– Taxation Reform • NC Tax on Services• Federal Loss of Mortgage Deduction
![Page 28: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/28.jpg)
Summary – Road to Recovery
• Put the housing recession behind us• 2012– Strong, consistent growth– Buyers Back– Inventory/Supply under control
• Future - Not there yet– Long way to go to return to pre-recession sales– Some potential bumps in the road ahead
![Page 29: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/29.jpg)
Commercial Real Estate
Michael Clayton, Managing Director, BIC
![Page 30: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/30.jpg)
MARKET TRENDS FOR COMMERCIAL REAL ESTATE
IN ORANGE COUNTY, NC
![Page 31: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/31.jpg)
Overview of:
• 2011 4TH QUARTER COMPARISON;• COMMERCIAL REAL ESTATE CATEGORIES, I.E.
OFFICE, RETAIL, INDUSTRIAL, AND FLEX SPACE;• AVAILABILITY OF SQUARE FOOTAGE BY
CATEGORY;• VACANCY RATES AND PRICING BY CATEGORY;• TRENDS IN COMMERCIAL REAL ESTATE
VACANCY, PRICING, AND CONCESSIONS
![Page 32: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/32.jpg)
2011 4th Quarter Review Source: The KARNES Report
![Page 33: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/33.jpg)
Office
![Page 34: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/34.jpg)
Retail
![Page 35: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/35.jpg)
Industrial
![Page 36: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/36.jpg)
Market Overview 2nd Quarter 2012
Sources: The KARNES Report, Loopnet
![Page 37: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/37.jpg)
Office
Vilcom Campus
![Page 38: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/38.jpg)
Office – Orange County
![Page 39: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/39.jpg)
Office – Orange County
![Page 40: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/40.jpg)
Office – Chapel Hill
![Page 41: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/41.jpg)
Retail
East 54
![Page 42: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/42.jpg)
Retail – Chapel Hill
![Page 43: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/43.jpg)
Retail - Hillsborough
![Page 44: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/44.jpg)
Retail – Chapel Hill
![Page 45: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/45.jpg)
Retail – Chapel Hill
![Page 46: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/46.jpg)
Retail - Hillsborough
![Page 47: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/47.jpg)
Industrial/Flex Space
Hillsborough Business Center
![Page 48: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/48.jpg)
Industrial – Orange County
![Page 49: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/49.jpg)
Orange County – still healthy, still going
strong
![Page 50: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/50.jpg)
ORANGE COUNTY PLANNING DEPARTMENT
Craig Benedict
![Page 51: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/51.jpg)
BALANCING GROWTH / SUPPORTING PUBLIC SERVICES
51
STRATEGIC AND FOCUSED ECONOMIC GROWTH; RURAL AND AGRICULTURAL PRESERVATION
![Page 52: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/52.jpg)
52
![Page 53: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/53.jpg)
OVERVIEW MAP
53
![Page 54: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/54.jpg)
54
![Page 55: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/55.jpg)
AREA B
55
![Page 56: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/56.jpg)
56
![Page 57: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/57.jpg)
ORANGE COUNTY ECONOMIC DEVELOPMENT
Steve Brantley
![Page 58: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/58.jpg)
Members of Economic Development Board
• Delores Bailey, EMPOWERment, Inc.• D.R. Bryan, Bryan Properties, Inc. • Lori Eichel, Harrington Bank • Jim Kitchen, JimKitchen.org• Karen McAdams, McAdams Farm• Eric Pate, GE• Mark O’Neal, Pickett-Sprouse Real Estate• Mark Sherburne, Aloft Hotel• Nicholas Thomas, FilmLab LLC• Tom Underwood, PHE, Inc.
![Page 59: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/59.jpg)
MAIN STREET PROPERTIESPatti Benedict
![Page 60: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/60.jpg)
![Page 61: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/61.jpg)
![Page 62: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/62.jpg)
![Page 63: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/63.jpg)
UNIVERSITY OF NORTH CAROLINABruce Runberg
![Page 64: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/64.jpg)
Orange CountyDevelopment Briefing
October 11, 2012
![Page 65: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/65.jpg)
Carolina North
![Page 66: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/66.jpg)
Carolina North
Main Campus
Mason Farm
Research and Innovation Campus
Corporate Partnerships
Faculty/Employee/Grad Housing
Service/Retail/Civic
Outreach
Recreation
Research
Flagship Research University
Hospitals/Health Care Centers
Student Life and Housing
Intercollegiate Athletics
Physical Context
![Page 67: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/67.jpg)
Caudill LabsPhotos by Dan Sears
Purpose
Carolina North will be a mixed-use academic campus that:
• Houses key academic programs;
• Attracts talent to the University;
• Enhances the University’s delivery of world-class research, teaching, outreach, and service for the people of North Carolina;
• Contributes to economic development, locally and beyond; and
• Delivers a planned, sustainable development that can adapt the latest technologies.
![Page 68: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/68.jpg)
Carolina NorthDevelopment Agreement
• Agreement between University and Town of Chapel Hill: a contract that defines certain– Rights– Obligations
• Authorizes development of up to 3 million ft2 over 20 years on a defined 133 acres of the Carolina North property
• Defines 228 acre development area over 50 years at Carolina North • Establishes 311 acres for conservation• Establishes development standards for transportation and parking, stormwater,
energy and water, noise, and lighting• University to submit an Annual Report each year
For each party
![Page 69: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/69.jpg)
Projected Development: First 800,000 square feet
Research Building One 225,000 sfSmall Central Utility Plant 5,000 sfLaw School 250,000 sfResearch Building Two 120,000 sfHousing 200,000 sf
6
![Page 70: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/70.jpg)
Collaborative Science Building & Infrastructure Phase 1/Central Utility Plant
Infrastructure………………………………. Design: June 2011 – May 2013 Construction: June 2013 – April 2014
Central Utility Plant……………………….. Design: July 2012 – Aug. 2013 Construction: Sept. 2013 – Jan. 2015
Collaborative Science Building……………. Design: March 2012 – Nov. 2013 Construction: Dec. 2013 – Nov. 2015
![Page 71: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/71.jpg)
WILLIAM CHRISTIAN & ASSOCIATESBill Christian
![Page 72: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/72.jpg)
Charterwood
![Page 73: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/73.jpg)
Current Plan
![Page 74: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/74.jpg)
Charterwood
![Page 75: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/75.jpg)
THE DESIGN RESPONSEJack Smyre
![Page 76: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/76.jpg)
![Page 77: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/77.jpg)
![Page 78: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/78.jpg)
![Page 79: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/79.jpg)
![Page 80: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/80.jpg)
![Page 81: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/81.jpg)
![Page 82: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/82.jpg)
![Page 83: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/83.jpg)
![Page 84: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/84.jpg)
![Page 85: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/85.jpg)
![Page 86: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/86.jpg)
![Page 87: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/87.jpg)
![Page 88: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/88.jpg)
![Page 89: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/89.jpg)
UNIVERSITY OF NORTH CAROLINAKarol Kain Gray
![Page 90: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/90.jpg)
123 West Franklin
Building B150,000 SF Multi Family35,000 SF Retail8,000 Commercial
Building A120,000 SF Residential30,000 SF Retail
Phase 1 - Building C160,000 SF Office30,000 SF Residential
![Page 91: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/91.jpg)
123 West Franklin
![Page 92: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/92.jpg)
123 West Franklin
![Page 93: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/93.jpg)
RAM REALTYJon Keener
![Page 94: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/94.jpg)
Update For Chapel Hill Carrboro Chamber of Commerce’s
Orange County Development Briefing
October 11th, 2012
![Page 95: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/95.jpg)
Who we Are & Where we have Been
• Scope: 140 new homes, 26,000 SF of 1st Class Retail, 2 levels of Parking
• Vision: Unify East & West Franklin St. and act as a catalyst for economic revitalization Downtown by following Downtown Revitalization Plan
• Timeline: Begun Planning in 2005, Selected as Developer in 2006, Weathered economic Crisis & Broke Ground in January 2011
![Page 96: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/96.jpg)
Project Update
• Home Sales: – 93 of 140 residences sold, including 18 for the
Community Home Trust– Starting delivery of residences early in 2013
• Retail Leasing:– 4 Tenants Committed– Retail openings also targeted for early 2013
• Parking:– 337 space underground parking will open first
![Page 97: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/97.jpg)
Why we are excited to be in Orange County
• Chapel Hill & Orange County Development is resurgent
• 123 West Franklin is on its way!• Between 123 and 140 West Franklin, more
than $200 million of fresh investment at this intersection alone.
123 West
Franklin
![Page 98: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/98.jpg)
Ram Realty Services dedication to NC
• Own, Redeveloping, and purchasing existing and new properties across the Triangle
• Own and Redeveloping properties throughout the Charlotte Region
• 140 West Franklin and our Chapel Hill partnerships are the flagship developments for our efforts throughout the State
![Page 99: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/99.jpg)
UNC HEALTH CARE Ray Lafrenaye
![Page 100: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/100.jpg)
Orange County Development Briefing
UNC Hospitals Orange County Initiatives
October 11, 2012
![Page 101: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/101.jpg)
Imaging and Spine CenterLocation: Finley Golf Course Road
Building Size: 31,000 sq.ft.
Occupant: Imaging, Pain Management, Physical Therapy
![Page 102: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/102.jpg)
Eastowne Development
1 2
4
3
7
65
2
6
5
Location: 100-700 Eastowne Drive (15-501 and I-40)
Land: 47.4 Acres
Building Size: 7 Buildings, 150,000 sq.ft.
Occupant: Administrative
![Page 103: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/103.jpg)
Comprehensive Rehabilitation & Therapy Location: 1807 Fordham Boulevard (15-501) and Sage Road
Size: 25,266 sq.ft.
Tenant: Physical and Occupational Therapy, Physical Medicine & Rehabilitation
![Page 104: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/104.jpg)
Burn Reconstruction & Aesthetic CenterLocation: 151 Old University Station Road
Size: 7,837 sq.ft.
Tenant: Burn Reconstruction and Aesthetic Procedures
![Page 105: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/105.jpg)
UCH Hospitals - Hillsborough CampusLocation: Waterstone Drive
Size: 270,000 sq.ft.
Occupant: Hospital & Medical Office Building (MOB) Clinics
MOB
Urgent Care
Lab/Radiology
Oncology Infusion
Dermatology
GYN
Uro/GYN
GI
Procedures
![Page 106: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/106.jpg)
BRYAN PROPERTIESSarah O’Brien
![Page 107: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/107.jpg)
Southern Village and Apartments
Bryan Properties
![Page 108: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/108.jpg)
Site Location
![Page 109: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/109.jpg)
View from 15-501
![Page 110: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/110.jpg)
Overview• Economic Impact for Community
$20 million project$309,058 property tax revenues at current rates$177,000 occupancy tax revenues
• Support for Village Center
Third anchor for the community with Weaver Street Market and The LuminaSupports our restaurants and shops
![Page 111: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/111.jpg)
![Page 112: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/112.jpg)
![Page 113: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/113.jpg)
TRIANGLE TRANSITDamien Graham
![Page 114: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/114.jpg)
Orange County Bus and Rail Investment Plan
Damien GrahamTriangle Transit
www.OurTransitFuture.com
![Page 115: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/115.jpg)
So what’s the plan?The plans has three stages of investment
• Stage #1 – New and enhanced bus service buses can be ordered and operating within five years after a positive vote
• Stage #2 Amtrak Rail station in Hillsborough sales tax will provide local revenue for future matching funds to build an
Amtrak station
• Stage #3 Light Rail connection from UNC to Durham planning will continue to construct a high frequency rail connection
between Chapel Hill and Duke and downtown Durham
![Page 116: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/116.jpg)
Step #1 Bus Service Improvements• Significant new funding available for additional bus service
available within the first five years.• Improve connectivity locally, within Orange County and Regionally• Increase frequency of peak hour service• Improve weekend service, night service (off peak)• Service enhancements to rural transit service in unincorporated
Orange County• Bus Service amenities such as better signage, shelters, and park ’n
ride lots
![Page 117: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/117.jpg)
STEP #2
HILLSBOROUGH AMTRAK STATION
AMTRAK SERVICE INCLUDES CONNECTIONS TO CHARLOTTE, RALEIGH, RICHMOND, WASHINGTON DC, AND NEW YORK
![Page 118: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/118.jpg)
STEP #2 BSTUDY BEGINS ON IMPROVED BUS LANES
![Page 119: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/119.jpg)
STEP #3LIGHT RAIL – UNC TO DOWNTOWN DURHAM
![Page 120: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/120.jpg)
What will investment in transit mean for Orange County?
![Page 121: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/121.jpg)
A Strong Economic Future
![Page 122: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/122.jpg)
Maintain Our Quality of Life
![Page 123: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/123.jpg)
A Healthier Environment
• Transit Oriented Development around station locations• More dense development provides greater opportunity to preserve Open Space• Cleaner, healthier options to travel throughout the county
![Page 124: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/124.jpg)
How are we going to pay for the plan?
The Plan will be financed by a balance of revenue options:▫½ cent sales tax (depending upon referendum)▫ Increase in vehicle registration fee▫ State and Federal Funding
• Basically, an additional 5 cents on a $10 purchase buys over $1 billion in transit investment for the next 25 years.
• Our local investment of $268 million by 2035 could leverage as much as $661 million in state and federal matching funding
NC Law requires - All revenue from ½ cent sales tax and vehicle registration fee must be dedicated to the transit elements specified in Orange Bus and Rail Investment Plan
![Page 125: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/125.jpg)
125125
• The One-half Cent Transit Sales Tax does not apply to the following…
• Food• Medicine• Utilities• Housing• Gasoline
Exceptions from the tax
“. . . the more the base of the sales tax excludes necessities (such as food and prescription drugs) and includes luxury or nonessential goods and services, the less regressive the tax is likely to be”.Robert D. Lee, Jr., Ronald W. Johnson and Phillip G. Joyce (2008). Public Budgeting Systems, 8th Edition (Boston: Jones Bartlett).
![Page 126: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/126.jpg)
Thank you to sponsors of the
2012 Orange CountyDevelopment Briefing
![Page 127: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/127.jpg)
Presented by
![Page 128: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/128.jpg)
Gold Sponsor
![Page 129: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/129.jpg)
Silver Sponsor
![Page 130: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/130.jpg)
Bronze Sponsors
![Page 131: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/131.jpg)
2012 Community Champions
![Page 132: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/132.jpg)
2012 Platinum Sponsors
![Page 133: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/133.jpg)
2012 Gold Sponsors
![Page 134: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/134.jpg)
2012 Gold Sponsors
![Page 135: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/135.jpg)
Thank you for attending the
2012 Orange CountyDevelopment Briefing
![Page 136: 2012 Orange County Development Briefing](https://reader038.fdocuments.in/reader038/viewer/2022110303/54bd95034a79599f1a8b460d/html5/thumbnails/136.jpg)
Find this entire presentation atslideshare.net/carolinachamber