Mixed-Use Development Newsbriefs

National News and Trends
Divots to Dollars (as Golf Courses Are Transformed Into Mixed-Use Developments)
Master Planned Masterpieces (Makes Mixed-Use Projects Works of Art Themselves)

Regional News
$75M, 114-Acre Mixed-Use Project Planned in Mesa (AZ)
Mixed-Use Projects on the Way (in California) (CA)
Urban Pacific to Develop Mixed-Use Project to Suburban Denver (CO)
Proposal for Homes, Businesses Progresses (Giving Rise to One of Florida's Largest Mixed-Use Projects) (FL)
Coconut Creek Envisions New Downtown Project as Regional Attraction (in Florida) (FL)
Kapalua Mauka Gets Zoning OK (for Mixed-Use Development) (HI)
Developer Proposes Mixed-Use for Old Meyer Oldsmobile Site (in Illinois) (IL)
Final Reports Filed for 1.8M-Square-Foot South Station Project (in Boston) (MA)
Durham Project Is Revised (But Will Still Include a Mix of Uses) (NC)
A New Newark Moves Closer to Reality (and Mixed-Use Factors In) (NJ)
Rutgers Tower Gets Council Approval (Bringing Mixed-Use Development Closer to the Jersey Campus) (NJ)
Movie Moguls Bring $1B+ Mixed-Use Development to Queens (NY)
Brooklyn Development Can Proceed, But a Lawyer Is Barred (NY)
$330M Project Planned for Mills in Providence (RI)
Edwards Ranch Land Set for Development (in Texas) (TX)

National News and Trends

Divots to Dollars (as Golf Courses Are Transformed Into Mixed-Use Developments)
National Real Estate Investor (02/06) Vol. 48, No. 2, P. 14; Voyles, Bennett

With land prices on the rise in many areas of the country, more and more golf courses are facing possible redevelopment as residential, commercial and mixed-use projects. Golf courses typically are in prime locations, offering 150-acre to 200-acre sites with plenty of lush landscaping. Course owners, meanwhile, are reaping the rewards at a time when an oversupply of golf courses and a slower-than-projected expansion of the golfing population is squeezing profits for some. Among the success stories is THF Realty of St. Louis' opening of a 425,000-square-foot retail center on the former Gator Hole golf course in South Carolina. Approximately 33 percent of the former course was reserved for the center, with the remaining acres sold off for single-family and multifamily housing. Other than some drainage issues, THF officials report that development has gone well, adding that they remain open to converting additional golf courses in the future. On the downside, only a limited number of courses are available for redevelopment, especially with so many having been built as an amenity in new housing developments of the past 30 or so years and zoning restrictions remaining in place at those sites.
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Master Planned Masterpieces (Makes Mixed-Use Projects Works of Art Themselves)
Builder (02/06) Vol. 29, No. 2, P. 42; Sullivan, Jenny

Developers of sustainable, mixed-use projects should not discount the importance of public art works in their overall design plans. Public art not only can make the overall landscape pleasing to the eye, it can be a very telling statement on the shared values of the community created. In the Denver suburb of Stapleton, the East 29th Avenue Town Center is highlighted by "Colorado Water Scenario," a public fountain and sculptural homage to water conservation that made its debut in 2003. Still in development, the 4,700-acre urban renewal zone will house approximately 30,000 residents along with a number of public art works when completed. Barbara Neal, a public art consultant to Stapleton, states, "These pieces are more aesthetic. They signal gathering places that bring people together in a social and engaged atmosphere."
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Regional News

$75M, 114-Acre Mixed-Use Project Planned in Mesa (AZ)
Commercial Property News (03/01/06) Auer, Tonie

Construction on a mixed-use development in Mesa, Ariz., is expected to commence by early July. Florida-based DeBartolo Development has opened a Scottsdale office that will oversee the project, which has an estimated build-out cost of approximately $75 million. Senior development officer Russell Posorske remarks, "We were looking at four different sites in a 30-day period, and we were convinced that Mesa is the place to be. If you look at the 2000 Census data, between 1990 and 2000, this city of more than 100,000 people is one of the fastest growing jurisdictions in America and that caught my attention." Once completed, the "live, work and play" development will boast between 15 and 25 acres of multifamily housing, another five acres of office condominiums and a plethora of retail and entertainment venues. Expected tenants include a drugstore, pet shop, office supply and sporting goods outlets and at least one discount superstore.
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Mixed-Use Projects on the Way (in California) (CA)
Silicon Valley/San Jose Business Journal (02/20/06) Kaus, Danek S.

Monterey County, Calif., has a number of mixed-use projects on the horizon, most of which are linked to residential development. City of Seaside, for instance, recently approved development of a project to be erected at the Bayonet and Blackhorse golf courses. The project will include a 330-room hotel, 170 timeshare units and 125 residential lots. University Village in nearby Marina, meanwhile, is a mixed-use development that will include approximately 750,000 square feet of retail stores and a 760,000-sq.-ft. business park when it is completed.
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Urban Pacific to Develop Mixed-Use Project to Suburban Denver (CO)
Commercial Property News (02/21/06) Stribling, Dees

Urban Pacific Builders LLC is in the planning stages of Axis, a mixed-use project in the Denver suburb of Westminster. Groundbreaking is expected by the end of the year. When finished, Axis will include an undisclosed number of for-sale residential properties and approximately 24,000 square feet of retail space. Urban Pacific managing partner Scott Choppin states that the development will be in line with the "new town" urban housing philosophy that the company has been pursuing since it was founded. He adds, "Most of what we've developed in California have been starter-home urban lofts, and we're now pursuing opportunities for that kind of development in other parts of the country." A light rail station will be a key component of Axis. Westminster is situated between Denver and Boulder, both of which are considerably pricier real estate markets.
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Proposal for Homes, Businesses Progresses (Giving Rise to One of Florida's Largest Mixed-Use Projects) (FL)
St. Petersburg Times (FL) (02/24/06) P. 1; Davis, Phil

In Florida, the Pasco County Development Review Committee gave partial approval to Newland Communities' plan to build 7,000 homes, 400,000 square feet of retail space and 250,000 sq. ft. of office space on the former Bexley Ranch in New Port Richey. The 6,872-acre project has been in the works for three years. The developer must collaborate with state and local officials on road construction and water-quality accords before final approval can be granted. The committee also green-lit plans for the mixed-use Sunlake Centre project, encompassing 600 residential units, 640,000 sq. ft. of retail space and another 340,000 sq. ft. of office space on 155 acres in central Pasco.
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Coconut Creek Envisions New Downtown Project as Regional Attraction (in Florida) (FL)
South Florida Business Journal (02/20/06) Bandell, Brian

Officials in Coconut Creek, Fla., okayed comprehensive development guidelines for a 430-acre site that will become Creek Commons, a mixed-use development that the city hopes will become a downtown attraction. Creek Commons will be comprised of 1.4 million square feet of retail and office space and around 2,700 condominiums and townhomes, with upwards of 5,000 residential units possible. Additionally, the plan calls for the Seminole Tribe to build a 700- to 800-room hotel and a casino, which would attract tourists and provide $1.5 million in annual revenue to the city. Elevated parking, a bus depot and a light rail station are also in the works. The site at State Road 7 and Sample Road is owned by more than two dozen entities, with 40 acres belonging to the city. The first construction project will likely be undertaken by Pompano Imports in the next six to eight months, with plans for an indoor car dealership and buildings with residential, office and retail components.
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Kapalua Mauka Gets Zoning OK (for Mixed-Use Development) (HI)
Honolulu Star-Bulletin (02/23/06) Yerton, Stewart

In Hawaii, Maui Land & Pineapple Co. recently obtained the necessary zoning approvals from Maui County for a 925-acre, mixed-use project in West Maui's Kapalua Resort. The zoning approval moves the company one step closer toward building a mix of 690 single-family homes and condominiums, five acres of commercial space and several golf courses at its proposed Kapalua Mauka development. This is just further progress on the company's efforts to revamp the Kapalua area's resort and residential offerings. A year ago, Maui Land & Pineapple took the wraps off plans for a $300 million redevelopment of the Kapalua Bay Hotel, revamping the immense hotel complex into a mix of hotel rooms, timeshare units and condominiums. Next on the drawing board is an oceanside spa and beach club. Maui Land & Pineapple Chairman and CEO David Cole stated, "Kapalua Mauka is vital to the repositioning efforts of our resort operations."
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Developer Proposes Mixed-Use for Old Meyer Oldsmobile Site (in Illinois) (IL)
Belleville News-Democrat (IL) (03/09/06) Wuerz, Scott

Helmkampf Construction has announced plans to transform an abandoned Meyer Oldsmobile garage that sits on sunken land in Swansea, Ill., into a mixed-use development. The project will include a 65,000-square-foot self-storage facility and a 21,000-sq.-ft. retail center. Developer Tom Helmkampf remarked, "There have been a lot of proposals for the site, which is way down in a hole, but the cost to fill it would have been astronomical. We think this is a good project for the site because we would only have to fill half of it, at the front where the retail will be." Work is expected to commence this fall, with development to take between 18 and 24 months.
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Final Reports Filed for 1.8M-Square-Foot South Station Project (in Boston) (MA)
Boston Business Journal (03/01/06)

The joint venture of Hines Interests LP and TUDC LLC has filed final impact reports with the state of Massachusetts and the city of Boston for a 1.8-million-square-foot mixed-use development at South Station Transportation Center. Specifically, the partners filed an environmental impact report with the state and the final project impact report with the Boston Redevelopment Authority. According to the two firms, the filings constitute a major step forward in the development of the site. The revised project will include a 13-story hotel and residential building and a 40-story office tower. Also part of the development will be a nine-story office structure to be built on air rights between the back of South Station and the bus terminal. Hines has proposed approximately $40 million in transportation-related improvements to Boston's South Station that would expand the bus terminal by 40 percent and connect it with the train station portion.
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Durham Project Is Revised (But Will Still Include a Mix of Uses) (NC)
Raleigh News & Observer (NC) (02/28/06) Ferreri, Eric

In North Carolina, the Durham County Board of Commissioners has approved a series of tweaks to a plan it originally approved two years ago that is expected to bring a massive mixed-use development to Research Triangle Park. A vote on developer Craig Davis Properties' proposed changes was delayed in early February, as county commissioners remained concerned that the plan did not have sufficient contingencies built into it in case the commuter rail station part of the project failed. Funding for the railway has been an issue. The developer has since pledged four new elements to the development plan, including a pledge to make sure the development's roads would be able to handle an influx of new residents should the commuter rail station not come to fruition. Plans now include between 1,150 and 2,285 residential units, stores and an undisclosed amount of office space. Craig Davis Properties promised that it would not build the maximum number of homes if the train station is denied, unless it can demonstrate via traffic studies that existing roads can accommodate the new load.
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A New Newark Moves Closer to Reality (and Mixed-Use Factors In) (NJ)
New York Times (03/01/06) P. C9; Chamberlain, Lisa

In Newark, N.J., eight acres of long-vacant waterfront land owned by the Matrix Development Group are poised to become the site of a mixed-use project. Phase 1 will include a 14-story commercial tower, dubbed 2 Riverfront Center. The 430,000-square-foot building already has secured the law firm of McCarter & English as an anchor tenant. Later phases will add 550 residential units in four low-rise structures, which will be interspersed with a 150-room hotel adjacent to Newark's Penn Station rail station and a plethora of green space. Matrix senior executive Richard F.X. Johnson comments, "It's an opportunity to bring the city to the water. Two and a half acres, almost a third of the entire site, will be open space and accessible to the public." Edison Properties Vice President Douglas Sarini adds that Newark is only starting to realize its potential, which is largely driven by its transportation infrastructure--i.e. close proximity to major highways and Newark Liberty International Airport as well as to New Jersey Transit, Amtrak and PATH trains that converge along the waterfront near Penn Station. Sarini predicts that a unique waterfront eventually will rise on both sides of the Passaic River, "with residential [space] in Harrison and more mixed-use on the Newark side."
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Rutgers Tower Gets Council Approval (Bringing Mixed-Use Development Closer to the Jersey Campus) (NJ)
New Jersey Star-Ledger (03/02/06) Kosmetatos, Sofia

In New Jersey, a proposed 30-story tower near Rutgers University and New Brunswick's train station cleared a big hurdle earlier this month when city council members unanimously voted in favor of a plan calling for high-density, mixed-use development. In doing so, the council amended an existing plan for an adjacent area to include the site where the $125 million Gateway tower will go up. In addition to offices, the building will feature 200 condominiums on its upper floors, a Rutgers bookstore, a university visitors center and a parking garage. The unanimous vote paves the way for the local housing authority to select a redeveloper for the site, whose job it would then be to negotiate with property owners to purchase their properties. Only if these talks broke down would the housing authority then seek to acquire these properties on behalf of the redeveloper via eminent domain. Supporters of the project say it would benefit New Brunswick because it would increase property tax revenue and improve the overall aesthetics of the area.
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Movie Moguls Bring $1B+ Mixed-Use Development to Queens (NY)
Commercial Property News (02/22/06) Corley, Colleen

A team of architects-turned-movie-execs is now focused on developing Silvercup West, a more-than-$1 billion mixed-use development in Queens, N.Y. An extension of Silvercup Studio's Long Island City location, the project will offer approximately 665,00 square feet of office and retail space, supported by an estimated 1,000 units of housing. Silvercup Studios President Stuart Match Suna says he is most excited about the new retail development, as Long Island City currently lacks a wide range of stores. Terra Cotta LLC, Suna's development firm, is the builder of record on the mixed-use project. He is joined by his brother, Silvercup Studios CEO Alan Suna, on the project. Silvercup West represents their first foray into mixed-use development of this size.
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Brooklyn Development Can Proceed, But a Lawyer Is Barred (NY)
New York Times (02/15/06) P. C17; Confessore, Nicholas

Forest City Ratner Cos. has been given the go-ahead to demolish six buildings in Brooklyn to make way for the $3.5 billion Atlantic Yards project. Plans for the mixed-use development call for 9.1 million square feet of residential towers, offices, stores and a basketball arena. The project would rise over a railyard and adjacent land near Brooklyn's downtown corridor. In ruling in favor of Forest City Ratner, Judge Carol R. Edmead of State Supreme Court in Manhattan prevented opponents from scuttling the project. The demolitions were approved late last year by the Empire State Development Corporation after Forest City Ratner executives asserted that the six buildings that it owned at the site were in danger of collapse and posed a clear and present threat to public safety. State law prohibits developers from altering the site of any proposed development until after it has received approval, but the law makes an exception for certain "emergency actions." Edmead ruled that there were no facts to support opponents challenging the agency's original determination that Forest City Ratner's structures merited the exception.
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$330M Project Planned for Mills in Providence (RI)
Providence Business News (RI) (03/08/06) Myers, Natalie

Struever Bros. Eccles & Rouse Inc. says it hopes to redevelop the former Nicholson File Company Mill and U.S. Rubber Company Mill complexes in Providence, R.I., into a $330 million mixed-use project. The developer has already lobbied the R.I. Economic Development Corporation to support its application for a certificate of "economic concern." Such status would expedite permitting for the project, which would combine the adaptive reuse of 26 historic buildings in Providence with over 1.2 million square feet of new construction. Approximately 394,000 sq. ft. would be allocated for offices space, while another 51,000 sq. ft. would be designated for retail and 781,000 sq. ft. for residential space. A hotel would also be part of the master plan, as would more than 1,800 parking spaces. Struever officials are now seeking approval from the city for a bond issue of approximately $41 million to finance two parking garages, bridges over the Woonasquatucket River, additional infrastructure and a greenway.
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Edwards Ranch Land Set for Development (in Texas) (TX)
Dallas Business Journal (03/13/06) Estridge, Holli L.

Cassco Land Co. has teamed up with developer Trinity Works to develop a $1 billion project at Edwards Ranch in South Fort Worth, Texas. The development will include a campus-style office park, a 400-lot residential subdivision and a 250-acre mixed-use development to be known as Overland. Dubbed Clearfork at Edwards Ranch, the office park will feature the new headquarters of Acme Brick Co., one of Fort Worth's oldest companies and the first set to locate to the new park in the summer of 2007. A planned toll road reportedly was instrumental in the project coming to fruition. The new development will go up on the remaining 850 acres of Edwards Ranch.
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