Greater Lake Norman Area Growth and Development Update

I don’t know about you, but with so much growth and new developements in our Lake Norman communites it’s a bit challenging to keep up with it all! I think my favorite part of The Charlotte Observer is the Red Dirt Alert in the Neighbors of Lake Norman section. Several months ago I did a pretty comprehensive series of write-ups about a lot of the latest developments which I will provide links to below. Since my stack of news articles is getting very high I have decided it is time to provide a brief update on growth and development in our Lake Norman communities.

Mooresville:

A Bloom Grocery Store was recently approved for the lot kitty-corner to Stutts Road on Brawley School Road. There is a sign now up: The future home of Bloom
Walgreens has been approved for the new Harris Crossing shopping center. a mixed use retail and residential project that has been in the works for nearly 4 years
A Food Lion has been approved as part of the Rocky River Promenade, a retail center at the corner of Rocky River and Shearers Road. The grocery store is expected to open In August 2008 and the remaining shops will be constructed sometime after that according to Darrell Palasciano of Pinnacle Properties
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The Mooresville Mills revitalization project has been delayed due to the need for the developers to revise their financial plan and then the Town of Mooresville will send the tax increment financing plan to the state for approval. Developer Dave Rogers said he can’t start the project until all the site work is done, which the town will design and administer. According to Town Manager Jamie Justice, the tax increment financing debt won’t be issued until the developers sign an argeement to a minimum tax assessment which is used to cover the debt. and until town is convinced that there’s enough tenant commitment. My guess from all of this is that it will be a while before they break ground!
A group of investors that includes NASCAR driver Kurt Busch and investor Howard Kosofsky, Old Downtown LLC, have purchased several of the historic downtown Mooresville buildings including the old Cool Breeze Cyclery building and have already refurbished the exteriors. According to a recent Charlotte Observer article, the developers said “with the right building rehab and tenant mix the historic downtown can become vibrant again.” One of the first projects is on the corner of Main Street and Moore Ave where they are planning an open air seating area for a planned restaurant. In addition they are looking at a coffee shop/art gallery, a children’s theater group, and a cooking school/upscale kitchen store. This is very exciting!
Langtree at the Lake has opened a beautiful showroom where potential buyers can go to choose site locations and all of the details from granite colors to hardwood floors and cabinetry. I have been there and words simply can’t describe the scope and quality of this exciting community. Construction of the first phase of the $800 million-dollar planned residential and commercial project at the future Exit 32 may start by early spring 2008. One of the developers, Brad Howard, will be writing updates on this blog so look for more news to come!
Backstretch Grill & Catering and ClubFX a teen night club have just opened at a 12,000sf dining-entertainment complex in Talbert Pointe Business Park at 243 Overhill Drive.
Legacy Village has broken ground near the Lowe’s Headquarters

Cornelius:

Village at Lake Norman, the proposed retail center which will be situated on 102 acres south of Westmoreland Road in southern Cornelius, will require traffic improvements including a new Exit 27, widening of U.S. 21 and a fly-over bridge connecting Baily Road across the interstate to the development, hopes to break ground in 2010 and open in 2011. It’sproposal includes three department stores, 284 condos above stores lining a central green, a high-end grocery store, and a full-service hotel and conference center. This will the 3 times the size of Birkdale Village! Stay tuned for more updates as it travels through the approval/partnership with the Town of Cornelius process.

Huntersville:

Bryton, a $1billion retail, office, warehouse and residential development, is planned for 450 acres around a proposed commuter-rail stop at Exit 23 on the northeast quadrant of NC 115 and Alexanderena Rd.
Northcross Village on NC 73 includes a Marshalls, Petco, HomeGoods and Staples as well as smaller stores

Troutman:

Larkin, a 900 acre development slated to have 3,750 residences including an active adult community, a hotel, retail, offices and wellness center is moving forward on the east side of the I-77 between Exit 45 and 49, is due to break ground at the end of this year or early next.

Sherrills Ford:

Key Harbor and The Crescent Resources Village Center proposal includes 1,500 homes, a village center which will feature 577,000sf of shops and offices and roughly 350 homes

Denver: