March 24, 2008

Davidson project mixes condos, offices, stores

Mixed-used can be draw in uncertain times

DOUG SMITH

In an uncertain housing market, developers look for ways to attract buyers while maintaining the confidence of their lenders.

Robert Tremblay of Fairhills/RLT Development believes he has the ideal project in Davidson: townhome and brownstone-style condos within the Harbour Place mixed-use project at Interstate 77 Exit 30.

Being inside a development that includes offices, stores and hotels in one of Mecklenburg's most desirable small towns creates a niche product with "insulation" from the housing market turmoil, he believes.

Green space, a school, a grocery store and other amenities are within walking distance, and brownstone owners will have views of Lake Davidson from rooftop decks.

Residents can save on gasoline costs by parking the car and walking to most of their daily needs within the village.

The $13 million project, which is under construction, includes 29 brownstones priced from $220,000 to $385,000 and 15 townhomes from the mid-$400,000s.

Tremblay said eight townhomes and 15 brownstones have been sold.

Half the townhomes, from 1,819 to 2,494 square feet, should be occupied on Jetton Street by the end of this month, he said. Model units are open.

Tremblay said the townhomes, were inspired by Fairfield Development's spacious Bradbury Hall units in the SouthPark area.

With master bedrooms downstairs in 12 of the 15 units, Tremblay anticipates strong interest from empty nesters, who look to reduce step climbing when they downsize.

Brownstones, featuring distinctive stoops leading up to the first level, range mainly from 1,156 to 2,041 square feet. They are expected to be ready for occupancy on Harbour Place Drive by July.

In compliance with Davidson's requirements for affordable housing in new projects, Harbour Place Brownstones will include four units going for as low as $100,000 -- a price the developers say police officers, teachers and firefighters should be able to afford.

Tremblay said those units will be slightly smaller but won't be distinguishable on the outside from the others.

The brownstones are near a 60,000-office building Childress Klein Properties is developing in 450,000-square-foot Harbour Place, a mixed-use project.

The 50-acre development includes a hotel, which is under construction, and eventually will have four more office buildings.

The Town of Davidson is encouraging development at Exit 30, where planners envision pockets of green space amid a 125-acre urban hub including about 200 homes.

Other residential projects have been completed and are occupied at the interchange.

Development

Harbour Place residences

• Location: Interstate 77 Exit 30 in Davidson.

• Size: 15 townhomes, 1,819 to 2,494 square feet; 29 brownstones, mainly 1,156 to 2,041 square feet.

• Prices: mid-$400,000s for townhomes; $220,000 to $385,000 for brownstones.

• Features: Townhomes will have two- and three-story floor plans and private rear courtyards. Exteriors will be brick. Brownstones will have six floor plans, many with a rooftop deck.