140 West Franklin
This is a spin off from the current thread on economic development. However, since I am addressing two specific items I thought new blog entry was warranted.
The useful life of a significant investment, be it an outlet mall or a residential/retail complex, has to range to at least 20-50 years for there to be an acceptable rate of return, particularly if governmental subsidies or tax incentives are included. Therefore, a large investment like Tanger Outlets (just over the county line) or 140 West Franklin represents a bet on the future. In the case of these two projects the bets on the future could not be more different.
The Tanger Outlet bet is that the future will be very much like the recent past in that low transporation costs will persist, allowing large volumes of goods to be transported long distances to a place where people get in their large personal vehicles and travel 10-100 miles to buy these goods. In aligning themselves with this bet on the future Alamance County is arranging its infrastructure, tax base, and utility services to allow for car travel to shopping destinations along the highway.
![[DEDI]](http://townhall.townofchapelhill.org/projects/dedi/site_plan.gif)
Yes, it's yet another urban development with no name! (Or more accurately: that steals it's name from it's location. See: East 54, The Franklin, McCorkle Place, etc.) It's hardly the most important thing about this development, but it still bugs me to no end. Doesn't anyone else think that we are losing character when we fail to properly NAME our places?
Anyway, I'm glad to see this is finally getting underway. After years and years of participating in planning meetings that led to the creation and eventual approval of this plan, I will NOT be stopping by this information session tomorrow. And neither will the dozens of Chapel Hillians who will proceed to complain loudly about the project as soon as the first shovel hits the dirt. Sigh.
Here's WCHL's story today for more background:
Public Information Officer Catherine Lazorko says the Town of Chapel Hill has organized a public information meeting about the 140 West Franklin development.
Representatives from the town and the developers will be on hand to answer questions about the project, including an overview of the construction, a timeline, information about good construction practices, and the various phases of the project and the logistics involved.
Construction is slated to begin in August and last about two years.
140 West Franklin is a mixed use development to be built on the town-owned Parking Lot 5 near Franklin, Church and Rosemary streets. The building will stand eight stories tall at its highest point.
The preliminary construction proposals called for the closure of one lane of Franklin Street and the complete closure of Church Street, which connects Franklin to Rosemary. Lazorko says this should not concern residents.
The meeting will take place Thursday at University Presbyterian Church from 4:30 to 6:30 p.m.
- http://www.wchl1360.com/details.html?id=15296
Date:
Thursday, July 22, 2010 - 12:30pm
Location:
University Presbyterian Church
The Town of Chapel Hill now has some drawings that visualize the plans for the high-rise mixed-use development they are constructing downtown on parking lot #5, known as the Downtown Economic Development Initiative. In my opinion, this is a visionary project that has suffered from not having enough public input at the right times.
So how does the Town make this critical information available to the public? Oh, it's "on display" down at Town Hall. So those of you who work downtown or have a lot of free time during the day can stroll down to the Mayor's office and check it out. The rest of us will have to make due with looking at photos of the plans on the N&O and Herald web sites.
The Chapel Town Council has a big meeting tonight. I meant to blog about it in advance, but since I didn't I will start this thread and hope to post live comments as it goes along.
Here's the agenda. I'll stick with this at least through the Public Forum on the Downtown Development Initiative.
About Us
OrangePolitics is a not-for-profit website for discussing progressive perspectives on politics, planning, and public policy in Orange County, NC. Opinions are those of their authors. Learn more.
Community Guidelines
By using this site, you agree to our community guidelines. Inappropriate or disruptive behavior will result in moderation or eviction.
Zircon - This is a contributing Drupal Theme
Design by
WeebPal.
