Shallotte Riverfront Town Center Update in Advance of CAMA Permit Submission
Agenda •
Project Update Guiding principles Where we are now Focus on master plan Total project cost Timeline •
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Q &A
Projectt Updat Projec Update e - Predev Predevelopm elopment ent •
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Time sensitive deadline to submit CAMA permit Master Plan is ready for submission to Town as part of the Development Plan
Engineering review ongoing through April Engineering Financial pro forma updated to match the Master Plan Project Financing underway
Shallotte’ss Guiding Principles Shallotte’ 1. Have a visible and appealing entrance 2. Be pedestrian friendly 3. Draw people to the River
4. Create a sense of place (Town Center) 5. Create a public activity center along the river 6. Showcase environmentally sustainable development 7. Preserve and capitalize on recent public investments
7. Capitalize on Public
Master Plan Program Use Residential Retail Restaurant Office Hotel Event Space Storage Shared Parking Total SF
Phase I SF
Phase II SF
Phase III SF
22,000
82,500
84,000
26,000
43,000
21,000
22,000
0
0
39,000
0
0
0
43,500
0
7,500
0
0
0
0
0
Total SF 188,300 90,210 22,100 38,910 43,500 7,500 0
0
0
0
0
116,500
169,000
105,000
390,500
Parking
712
712
Master Plan Program Phase I SF
Residential
Retail
Restaurant
Office
Phase II SF
Residential
Retail
Phase III SF
Hotel
Residential
Retail
Total Developme Development nt Cost Use
Cost
Land Purchase
$5,600,000
Infrastructure
$14,500,000
Hard Costs
$69,000,000
Soft Costs
$9,500,000
Total
$98,600,000
Land purchase is revenue to the Town Infrastructure costs will be shared between Town and Developer
Timeline •
Apri Ap rill - Ju June: ne: •
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July – October/November: •
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Finalize site engineering Infrastructure pricing to Town Update the Development Agreement Agreement Developer hosts neighborhood meeting Project entitlement Utility permitting
November/December: •
Riverwalk and Town Center infrastructure construction begins
Christy Raulli, Raulli, Director of Developm Development, ent, NSV 919-923-1670
[email protected]
