Roadway Plans Moving Forward On Multiple Fronts
“We knew this would not be easy, but by moving forward on several parallel approval paths, we know we are making as much progress as could be expected with such an undertaking,” said Josh Rector, Senior VP of Cornelius Bromont, the project developer. The Mecklenburg-Union Metropolitan Planning Organization (MUMPO) has decided to wait until January to include the project in the 2009 ranking year. Then it will take another 4-8 months to assess it for inclusion in MUMPO’s Long Range Transportation Plan (LRTP). This will also allow more time needed by the Charlotte Department of Transportation to complete an air quality model and plan for Mecklenburg-Union that meets federally mandated air quality standards. “Although these delays are frustrating to the development team, with a project of this magnitude, some delays are expected, and we are accelerating other parts of the project, so as to take advantage of that time ” Rector said. For example, the federal approval track is moving faster than expected. The Interchange Justification Review being prepared by Kimley-Horn Associates for Cornelius Bromont is nearing completion, meaning it can soon be sent to the Federal Highway Administration for review. But again this will not be approved without completion of the LRTP. Cornelius Bromont leaders have also been meeting with Mecklenburg County officials to gain approval for the financing plan that involves the County issuing Synthetic Tax Increment Financing (Syn. TIFF) and Certificates Of Participation (COPs) to finance the roadway construction. “We’re moving forward on several parallel paths in order to push the approval of the roadways forward as fast as possible,,” Rector said. “We have to have one approval to get the other. We’re counting on the expertise of our team and their abilities to get these tracks to converge, so we can move on and begin construction as soon as possible.” Leasing Efforts Pick Up Steam
Interest is especially strong in the development’s two hotel sites. “We’ve had tremendous interest from a lot of different hotel groups,” Rector said. “What’s surprising is that the interest is so aggressive. Even though the economy is not strong right now. They think there is tremendous demand in this area for quality hotels, and believe that by the time this project is up and running, both the economy and corporate travel will have picked up again.” Rector says that, based on how things are moving, a hotel could become part of Phase 1 of the development. Previously it had been scheduled for a later phase. New Office, New Administrative Assistant Josh Rector, Charles MacLean, a new administrative assistant, and other members of the Cornelius Bromont team have moved into the new offices at 1900 South Blvd., Suite 250, and business is in full swing. “It’s great to have our own space, very close to our Design Team members,” Rector said. “We have a large, comfortable conference room that is already getting a lot of use, in addition to several offices.”
“We had more than 110 applicants in 24 hours for this position,” said Senior VP Josh Rector. “Katie stood out because of her relevant experience, her positive attitude, and her flexibility, which will be important in this demanding position. We’re delighted to have her, and look forward to all of our friends and associates getting to know her.” As always, your questions and feedback are welcome at our website, |
Cornelius Bromont has hired the Charlotte branch of CB Richard Ellis to help market the retail space in Augustalee, and is continuing to meet with potential tenants. The Charlotte branch will work closely with CBRE Vice President Dan McGinnis of the home office in Seattle, who has been involved on the Cornelius Bromont team for more than a year. Anyone interested in leasing retail or office space can also call Dan McGinnis, Director of Leasing for the project, at 
Kathleen “Katie” Johnson has been named Administrative Assistant and Office Manager for Cornelius Bromont’s Charlotte office and is already on the job. She previously worked five years in several key roles for the Newland Communities, a major developer of master-planned communities based in Charlotte.