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Chapel Hill's Dwight Bassett makes the case for economic development

Yesterday at noon, Chapel Hill's Economic Development Officer Dwight Bassett provided a brief, one-hour presentation outlining some key facts and developments concerning retail, housing, and office space in Chapel Hill. The full presentation can be viewed here.

I attended and live-tweeted the meeting. You can see the play-by-play below.

View the story "DESIGN Chapel Hill 2020: Economic Development, May 15, 2013" on StorifyDESIGN Chapel Hill 2020: Economic Development, May 15, 2013Presentation from Chapel Hill's Economic Development Officer Dwight BassettStorified by OrangePolitics· Wed, May 15 2013 11:42:15HAPPENING NOW: Economic Development Officer Dwight Bassett now presenting on the economics of #ChapelHill townofchapelhill.org/index.aspx?rec… #CHTCOrangePoliticsBassett opens by addressing the question "Why economic development? Why do we need economic development in #ChapelHill?" #CHTCOrangePolitics

Office Space in Chapel Hill

Bassett: "Our commercial tax base is one of the smallest in the region." #CHTCOrangePolitics#ChapelHill controls about 4-5% share of regional office space #CHTCOrangePolitics@orangepolitics @CHEconDev What proportion of the region's population does Chapel Hill represent? #CHTCDamon SeilsBassett says we have 240,000 sq ft of office space vacant right now #ChapelHill #CHTCOrangePoliticsBassett notes 16.78% vacancy rate for office space in Chapel Hill right now #CHTCOrangePoliticsBassett also notes this is down from 20% just a few years ago, so market conditions have improved #CHTCOrangePoliticsBassett: "We don't compete regionally. We don't compete in the Triangle" for office space #CHTCOrangePoliticsBassett: When we do compete, we don't compete equally because we don't have the capacity without building new buildings #CHTCOrangePoliticsBassett: "We build a brand on being a walkable community." #CHTCOrangePoliticsBassett notes he can name 2-3 businesses now in #ChapelHill who want to grow, but will not succeed in growing due to lack of space #CHTCOrangePoliticsBassett shares story of small biz started in Carrboro, moved to #ChapelHill, but now we will lose because of a lack of officespace #CHTCOrangePoliticsSidenote: Quite a big crowd here at Town Hall for noon on a Wednesday, seemingly lots of interest in #econdev #CHTCOrangePoliticsBassett: If we were to add 1 mil sq ft of new office space, it could mean 2,100 construction jobs, $140 mil in wages #CHTCOrangePoliticsBassett points out other stats as well, but moving very quickly to get everyone out by 1pm #CHTCOrangePolitics@orangepolitics Need more context from Bassett. How does our indiv & residential tax base compare to region and how are they related?Carrboro Man

Retail in Chapel Hill

Bassett notes that we miss about 35% of our retail marketshare, mostly to Durham #CHTCOrangePoliticsBassett recounting past experiences w/ retail: Difficult for locally grown companies to grow due to limited retail space #CHTCOrangePoliticsBassett also notes higher rents that limit our ability to encourage startups #CHTCOrangePoliticsBassett says he is concerned that if we're not careful, we we lose our market opportunity in South Chapel Hill #CHTCOrangePoliticsBassett now discussing Chatham Co Wal-Mart just across county line & its impact that may cause #ChapelHill to lose opportunities #CHTCOrangePolitics

Housing in Chapel Hill

Bassett notes avg sale price of a home in #ChapelHill is $388,000 #CHTCOrangePoliticsBassett points out that from 2009-2014, rental unit demand will be 581-817 units #CHTCOrangePoliticsBassett notes that statistic also includes 300-400 affordable housing units #CHTCOrangePoliticsBassett says that he personally believes we need to grow all three markets, office, retail & housing, simultaneously #CHTCOrangePolitics

Ephesus Church/Fordham Small Area Plan

Bassett now moving onto Ephesus Church/Fordham small area plan #CHTCOrangePoliticsBassett says that fixing traffic issues surrounding Ephesus Church/Fordham SAP was most important for the area #CHTCOrangePoliticsBassett: #CHTC adopted plan in June 2011, now moving into implementation of the small area plan #CHTCOrangePoliticsBassett: We will be ready on July 1 to begin construction draws for the Ephesus Church/Fordham SAP #CHTCOrangePoliticsBassett: In plan, we create enough new tax base to cover about 75% of the redevelopment for Ephesus Church/Fordham SAP #CHTCOrangePolitics

Downtown Chapel Hill

Bassett specifically notes some opportunity for a hotel in downtown & residential opportunities on his slides #CHTCOrangePoliticsBassett says that cross-street connections between Franklin & Rosemary are very important, kept coming up in #CH2020 #CHTCOrangePoliticsBassett highlights potential cross streets near funeral home on Franklin as a transit hub for downtown #CHTCOrangePoliticsBassett also highlights potential opportunity at Panera & Noodles on Franklin for another cross street #CHTCOrangePolitics

Rosemary Imagined

Rosemary Imagined attempts to bring core interests touching Rosemary St together to envision planning process #CHTCOrangePoliticsRosemary Imagined process will include text-to-vote at all public mtgs #CHTCOrangePoliticsIs this #OpenGov or American Idol? RT @orangepolitics: Rosemary Imagined process will include text-to-vote at all public mtgs #CHTCRuby SinreichRosemary Imagined will also include chalkboards on Rosemary St to draw attention to potential redevelopment #CHTCOrangePoliticsBassett notes plan for Rosemary St expected to be completed in October/November of this year #CHTCOrangePoliticsBassett lists other areas with opportunities: North MLK/Timberlyne, Eubanks Rd (The Edge), Central West, 54 Corridor #CHTCOrangePolitics

Question & Answer

First question is about impact of Carolina North on development #CHTCOrangePoliticsBassett says nothing is more important than Carolina North for #econdev in #ChapelHill #CHTCOrangePoliticsBut Bassett also notes that economic downturn means it's still unclear when Carolina North will happen #CHTCOrangePoliticsNext question is about what happens if we don't develop the retail market #CHTCOrangePoliticsBassett says that if #ChapelHill doesn't capture retail potential, it will go someplace else nearby #CHTCOrangePoliticsBassett even notes impact of Tanger Outlets in Alamance Co on retail market in #ChapelHill #CHTCOrangePolitics@orangepolitics Question worth asking: what benefit does a downtown transit hub have for bus riders when all the routes are thru-running?City Beautiful 21Next question is from Jim Ward: How can @chtransit provide richer service to improve walkability in #ChapelHill #CHTCOrangePoliticsBassett using Europa Dr to illustrate how walkable environments are important for office space #CHTCOrangePoliticsSpecifically the failure of Europa Dr to provide that walkability #CHTCOrangePoliticsBassett adds that there is a role for @chtransit, but continues to emphasize walkability as important #CHTCOrangePoliticsResident expresses concerns about lack of connectivity, lengths of bus rides b/c of that lack of connectivity in #ChapelHill #CHTCOrangePoliticsNext question is about the loss of infrastructure & services related to the loss of retail #CHTCOrangePoliticsBassett says that the question is very multi-faceted, difficult to answer #CHTCOrangePolitics@orangepolitics There are so many walkability issues. I especially dislike the serpentine paths walkers much take in deference to carsJohn Rees@orangepolitics Example, the path the sidewalk takes along 15-501 to cross Elliot road. I'll take a photo next time I am there.John Rees@jreesnc @orangepolitics I think Ephesus Church-Fordham Blvd plan will incorporate bike/pedestrian improvements. bit.ly/15N1enSKristen C. Smith. @kcs_tarheel @orangepolitics Good. I will say, the recent ped signals / buttons / crosswalk re-do on Willow Dr. is a welcome improvmentJohn Rees. @jreesnc @orangepolitics Elliott Rd / 15-501 intersection; note the long winding path of the sidewalk away from rd maps.google.com/maps?q=elliot+…Geoff GreenNext question is about looking at specific industries for #ChapelHill #CHTCOrangePoliticsBassett says that #ChapelHill is not targeting specific businesses right now b/c of a lack of space inventory for businesses #CHTCOrangePoliticsNext question is from Southern Village resident about Obey Creek #CHTCOrangePoliticsBassett says we're not far enough along in the process to provide full answer on Obey Creek's potential impact & development #CHTCOrangePolitics.@GoSallyGreene speaking now, bringing up @chtransit & robust transit as important for affordability in our community #CHTCOrangePoliticsLast question is about zoning & its role in facilitating walkable development, particularly in Central West #CHTCOrangePoliticsBassett says that Central West has potential to be neighborhood business district #CHTCOrangePoliticsAnd with that last question, @CHEconDev wraps up right at 1pm as promised #CHTCOrangePolitics

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Economy & Downtown

Comments

Out of touch

Submitted by John666 on May 20, 2013 - 8:21am

This guy's pretty darn out of touch, IMHO. Sounds like all he cares about is university and big business expansion. I know of *lots* of non-retail small businesses that would like to expand here, but there is absolutely *no* space for them do to so. Retail rents are sky-high, and that just has to do with greedy landlords that can get what the ridiculous prices they're asking. If we've got 220,000 sq ft of open office/retail space, why do we need to build more? How about some flex/light industrial for once?? I think the real answer is Chapel Hill/Carrboro government and residents (in general) are just plain hostile to businesses other than restaurants and bars, and they need to fess up and admit it.

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