Business

September 2, 2008

Davidson master plan lures developer

More commercial and residential development is ahead for Davidson's 125-acre mixed-use hub at Interstate 77 Exit 30.

More commercial and residential development is ahead for Davidson's 125-acre mixed-use hub at Interstate 77 Exit 30.

Davidson Commons East, the latest project to be announced, is planned off Griffith Street near the Children's Community School and a Harris Teeter supermarket.

Developer Martin Kerr of Martin Kerr and Associates was attracted to the 6-acre site by the town's Exit 30 master plan, which includes a “commons” where he will build.

The Exit 30 plan was created to complement the town's historic district and help ensure its preservation by concentrating new development in an urban village near the interstate.

Kerr plans 18 residential condos, about 20,000 square feet of commercial space and 16 single-family houses.

The condos, in a pair of two-story buildings with residential above retail, will be constructed first.

The single-family homes, about 3,500 square feet each with master bedrooms downstairs, are planned in a second phase around a common area to be deeded to Davidson.

Kerr said he's working on permits for the estimated $7.5-million to $8-million first phase, which he hopes to start by early next year.

The key, he said, is pre-selling at least half the units. Buyers have committed so far to six condos, Kerr said.

The two-bedroom, two-bath residential flats, priced from the upper $170,000s, will be about 1,050 square feet each, but two can be combined to create a larger condo, he said.

Commercial space – minimum size 1,000 square feet – can be purchased or leased. The sale price is $190 a square foot; the lease price, $18 to $20 a square foot annually.

The zoning will allow office or retail in the two mixed-use buildings, Kerr said.

He believes the commercial space will appeal to business owners seeking to work and live in Davidson.

This will be Kerr's first development project in the north Mecklenburg town, but his general contracting company, Flat Creek Construction, worked with Robert Tremblay of Fairhills/RLT Development on Harbour Place Townhomes at Exit 30.

He said a related project team led by Tremblay will develop the single-family section of Davidson Commons East.

No timetable has been set for starting construction of those homes, he said.

Kerr's company is handling residential condo sales, and Tom McMahon and Paul Aiken of Sperry Van Ness/ McMahon & Associates are in charge of commercial sales.

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