CORDELE, GA (WALB) -

Abandoned rooms above the "Fancy Stitchin' Building" on 7th Street will soon be turned into loft style apartments.

That's because Cordele was one of several cities in its region chosen to be a part of the state's BoomTown project, an initiative intended to create jobs created through revitalization.

"I think it's a pretty good idea. Anytime you can bring anything to a small town downtown, it can pick it up a little bit and bring traffic to the downtown area," said resident Kyle Davis.

Two buildings in Cordele will be revitalized, one for retail space and the other is being turned into lofts in anticipation of new Darton State College students coming to a planned satellite campus in Cordele.

One nearby business owner says he can't wait to see the project get underway.

"I expect an increase in my business as a result of that, not only with my martial arts, but also with my vitamin sales and kickboxing classes. I expect a lot of growth from that," said GTC Gym owner Arthur Jackson.

With renovations coming to downtown Cordele, so are job opportunities.

"It would mean jobs for carpenters, construction people and things of that nature. Not to mention you have to furnish property, so your local furniture (will benefit)," said Cordele Main Street Director Monica Mitchell.

"It's not really attractive down here right now, but with the college coming to town, I think if you put some lofts downtown that will definitely pick up the area," said Davis.

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Lofts, retail space coming to Downtown Cordele

A development across the street from the proposed waterfront basketball arena could house a 200-room hotel, 125 residential units and 34,000 square feet of retail space, according to information the Warriors provided to The City.

The team wants to build a privately financed 17,500-seat arena and 105,000-square-foot retail complex on city-owned Piers 30-32, a waterfront site just south of the Bay Bridge on The Embarcadero. But the deal includes the teams use of a triangular plot of land across the street from the piers, Seawall Lot 330, where the hotel and other developments would be located.

Warriors officials stressed that the ideas for the seawall lot site, including that it could contain two 150-foot towers to house the residential units and hotel, are preliminary and the focus of the planning so far has been on the piers where the arena would be located.

We are not that defined yet on that side, Warriors President and Chief Operating Officer Rick Welts said. This is all under discussion right now with The City. We havent really put anything formally forward in terms of proposals of exactly what we are going to do.

PJ Johnston, a spokesman for the project, said the team gave The City preliminary numbers based on what is legal and practical for the site in order for fiscal forecasting to be done for the project.

Under city law, San Francisco had to conduct what is known as a fiscal feasibility report for the entire development deal.

That report, which was presented to a citizens advisory committee Tuesday night, contains the broad outlines of the deals business plan, including what could be constructed, what the projects costs and benefits would be, and how it would be financed.

The entire construction cost for the arena and the adjacent parcel would run between $875 million and $975 million, according to the report. Of those costs, an estimated $120 million would be needed for the repair and stabilization of the piers, which date back to the early 1900s.

The deal calls for the team to receive a 66-year lease on the piers and pay for their renovation upfront, but then be reimbursed. To do so, The City would likely issue a bond that would be repaid through future property taxes from the development and not from The Citys general fund, according to Jennifer Matz of the San Francisco Office of Economic and Workforce Development.

Matz said that such a public-private partnership is needed to refurbish the piers since the Port of San Francisco, which owns the land, does not have the ability to independently issue bonds for such an expensive project.

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Warriors development deal, financing taking shape

By Drew Harwell, Times Staff Writer Drew HarwellTampa Bay Times In Print: Wednesday, October 17, 2012

ST. PETERSBURG The Tampa Bay Rays are seeking permission to bat around ideas for a new ballpark, a hopeful sign for developers of a potential stadium in the Carillon Business Park.

But to really take off, the Rays Park at Carillon project will need support from an even bigger team: the office, retail and apartment leaders who would run the businesses beyond the field.

Commercial real estate brokers and lenders said the proposal pitched by developer Darryl LeClair has legs: centered among Tampa Bay's biggest cities, Carillon has a booming office sector and plenty of room to grow.

But some doubt that the striking project, which LeClair's firm CityScape estimated could cost up to $570million, could attract enough business muscle to keep it from falling apart.

"There's a lot of skepticism that people would go there, a lot of skepticism that it would get funded, and a lot of skepticism that it would be successful," said Darron Kattan, a managing director at Tampa commercial real estate firm Franklin Street.

"The Rays do not have a track record of drawing in a big audience, and that's something lenders and developers will look for," Kattan added. "Real estate investors would be very cautious about putting their money out there, simply because it's unproven."

No major league stadium blends nonbaseball construction and the playing field to the same extent as this proposal, where 1.6million square feet of attached buildings and retail space form a large part of the outer walls.

Site plans call for a halo of Mediterranean Revival-style offices, retail space and apartments surrounding the ballpark's outer plaza, with a "premier hotel" on the first-base line and a concert venue beyond center field.

CityScape has promoted Carillon's mid Pinellas location as key to its success, better able to entice Tampa fans than the Rays' downtown St. Petersburg home at Tropicana Field.

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Retail and real estate experts mixed on whether proposed Rays stadium complex in Carillon is viable

By Drew Harwell, Times Staff Writer Drew HarwellTampa Bay Times In Print: Wednesday, October 17, 2012

ST. PETERSBURG The Tampa Bay Rays are seeking permission to bat around ideas for a new ballpark, a hopeful sign for developers of a potential stadium in the Carillon Business Park.

But to really take off, the Rays Park at Carillon project will need support from an even bigger team: the office, retail and apartment leaders who would run the businesses beyond the field.

Commercial real estate brokers and lenders said the proposal pitched by developer Darryl LeClair has legs: centered among Tampa Bay's biggest cities, Carillon has a booming office sector and plenty of room to grow.

But some doubt that the striking project, which LeClair's firm CityScape estimated could cost up to $570million, could attract enough business muscle to keep it from falling apart.

"There's a lot of skepticism that people would go there, a lot of skepticism that it would get funded, and a lot of skepticism that it would be successful," said Darron Kattan, a managing director at Tampa commercial real estate firm Franklin Street.

"The Rays do not have a track record of drawing in a big audience, and that's something lenders and developers will look for," Kattan added. "Real estate investors would be very cautious about putting their money out there, simply because it's unproven."

No major league stadium blends nonbaseball construction and the playing field to the same extent as this proposal, where 1.6million square feet of attached buildings and retail space form a large part of the outer walls.

Site plans call for a halo of Mediterranean Revival-style offices, retail space and apartments surrounding the ballpark's outer plaza, with a "premier hotel" on the first-base line and a concert venue beyond center field.

CityScape has promoted Carillon's mid Pinellas location as key to its success, better able to entice Tampa fans than the Rays' downtown St. Petersburg home at Tropicana Field.

Continued here:
Retail, real estate experts mixed on whether proposed Rays complex in Carillon is viable

For years, the Courtyard development in downtown Chapel Hill has fallen short of plans to transform the property into a hub for retail and dining.

But with construction moving forward on a new concept plan that will bring apartments and new business to the Courtyard by the end of the month, the once-bustling square could soon be revitalized.

The Courtyard, a walled-in brick space on West Franklin Street, has proven to be a disappointment in recent years as plans for redevelopment consistently fell through.

The property was mismanaged over the years, said Ted Kairys, managing partner of Kairys Group and a new manager of the residential development in the Courtyard. At certain points in its history it has thrived, but it definitely fell off a cliff about seven years ago.

He said eight apartments have recently been added to the development. The lease period began in August for the apartments, occupied mostly by graduate students.

An additional 16 units will be ready by August 2013, he said.

Kairys said he attributes the failure partly to permits not being approved by the town.

We wanted to re-do it, bring student housing to the site, bring some new retailers in and make the space nice, Kairys said.

Bruce Knott, who handles retail leasing at the site, said his goal was to bring some vibrancy back to that corner of Franklin Street.

Were trying to keep the feel that the Courtyard has, but supplement it with better restaurants and retail users, Knott said.

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Courtyard construction brings promise of new shops and dining

Home business Empire Tower in Sathorn a showcase of 'trade-retail synergy'

PATCHAREE LUENGUTHAI THE NATION October 17, 2012 1:00 am

A new landmark will appear on Sathorn Road when the property is transformed. A nine-storey building will go up in front of the Empire Tower main office building as a lifestyle centre.

The new building will feature a hybrid of modern and contemporary architecture to facilitate convenient connectivity, business exclusivity, new lifestyles and green landscaping.

The 58-storey Empire Tower, the largest office building in the country, will be renovated to harmonise with the retail centre. The construction and renovation process was commenced early this month and is scheduled for completion in early 2014.

As it is located at the intersection of Sathorn and Narathiwat-Ratchanakarin roads, customers will enjoy easy access, connecting directly from the tower's second level to the Chong Nonsi Skytrain and Sathorn MRT stations.

On ground level, there will be an outdoor walkway canopy at the entrance with sunken court access.

The project will provide a wider and separated drop-off area and concierge, similar to a world-class hotel.

From the conservatorium main lobby, there will be a smooth connection between the business tower and retail space, with access to higher levels through double-storey escalators and a turnstile security system.

With more than 8,500 square metres of space, the retail building will feature a neo-classic, elegant executive lounge. The main intelligence room will accommodate 200 people and there will be six small meeting rooms.

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Empire Tower in Sathorn a showcase of 'trade-retail synergy'

Construction has started on a huge new mall on the Manatee Sarasota line, but more than the shoppers are excited because the development means thousands of jobs.

The $315 million Mall at University Town Center is being built by Taubman Centers Inc. and Benderson Development Co. of Manatee County and will be similar to International Plaza in Tampa. Taubman also developed International Plaza.

The mall work means 1,000 construction jobs, 2,000 jobs at the mall, and another 3,000 for the planned retail and restaurants around the new mall.

"It's been 35 years since there has been a new regional mall built in the greater Sarasota Manatee area," said Mark Chait, of Benderson Development. "We're really pleased and excited that 50 percent of our specialty retailers will be new to this market.

"They will really add an element that's been lacking and people are truly excited for."

The anchor stores will be a Saks Fifth Avenue, Macy's and Dillards.

The plan stalled a few years ago, but is now expected to open in October 2014 off of Interstate 75 near Lakewood Ranch.

The county will welcome $100 million in annual sales tax revenue, and the mall is expected to pump about $400 million into the regional economy.

"This is going to give us a lot of jobs, which is sorely needed and it is going to be a good thing for everybody," said Carol Whitmore, Manatee County commissioner. "But, this is going to stimulate Manatee and Sarasota county, big time."

And there is more construction planned. Two hotels, office space and 1,700 homes are also due to be built in the area.

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Sarasota mall means shops, thousands of jobs

CHAMPAIGN Upscale apartments could be going up this spring in a new development at the southern entrance to the University of Illinois Research Park, but a retail component faces a tougher financial hurdle, developers say.

Meanwhile, park managers are exploring whether to invest more than $200,000 in an extension of Champaign-Urbana's Big Broadband network through the research park's newest phase to serve clients' growing data needs.

Plans for a retail-residential project at First Street and Windsor Road have been on the books for years but stalled in 2008 along with the economy. Conditions have improved, and construction of a major extension of Fourth Street through the park is nearing completion, opening up the east side of First to development between St. Mary's Road and Windsor.

Developer Peter Fox has been working with a university design review team on an 8-acre complex at First and Windsor.

Plans call for four residential buildings with 50-plus rental units set back from the corner, built around a water feature, and two retail buildings fronting First and Windsor with 10 units totaling 23,000 square feet. Site drawings unveiled this week show room for expansion to the north and east two additional residential buildings and two more 7,200-square-foot retail buildings.

The design review committee requested that some residential units be placed above the retail space; that some buildings be three stories and include a brick exterior; and that the retail buildings be pushed close to the street, with parking in the back, to create more of a community feel, similar to the Village at the Crossing.

Fox also hopes to make the development energy-efficient, possibly achieving LEED certification. Designs call for geothermal heating and cooling, solar panels on the carports, high-density insulation, green roofs, and a sustainable storm-water retention system.

Fox hopes to have the residential portion completed by the fall of 2013. To do that, he said he'd need to break ground by February or March.

But he's less certain whether the retail portion makes financial sense, given potential competition in the area and high construction costs relative to retail leasing rates of $15 to $16 a square foot.

Cost projections from UI Facilities and Services for extending the university's gas, electric, water and sewer lines to the area came in much higher than expected almost $977,000 compared with the $330,000 initially projected, said research park Director Laura Frerichs. The water feature in the current design requires a ring of utilities around the site, which pushed up the cost.

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UI Research Park construction plans take shape

Oxford Properties Group upped the ante on Friday among Torontos casino suitors with details of a $3-billion plus proposal for a swath of downtown real estate next to the Rogers Centre that would see black jack tables among a new hotel, residential, office space and a redeveloped Metro Toronto Convention Centre.

The group hired Foster + Partners, the architects behind Abu Dhabis Masdar City Development, Washingtons Smithsonian Institute and Londons Canary Wharf Underground Station, to sketch out a master plan for Oxford Place, located on 11 acres on the south side of Front Street, between Simcoe Street and Blue Jay Way.

The plan, contingent on authorities giving a casino the go-ahead, includes a new and expanded convention centre, new retail, office and residential space, 4,000 new underground parking spots and an integrated casino and hotel complex. The casino would make up less than 10% of the project, Oxford said in a press release, and would be funded, built and operated by the casino operator selected by the provincial government, should it do so. The company is also contemplating a new 5.5 acre park over the existing rail corridor.

Although the casino itself represents less than 10% of the projects area, it is a necessary and essential catalyst for the entire development and is a use that will be complementary to Torontos core in the way that we have designed and conceived it, said Michael Kitt, Oxfords executive vice president in Canada, in a press release.

The Ontario Lottery and Gaming Corp. in March announced plans to build a new casino in greater Toronto, but says it will not put one in a city that does not want one. The issue has triggered considerable debate in Toronto, with people voicing their support and opposition at a public forum this week. Paul Godfrey, chairman of the OLG and also chief executive of Postmedia Network Inc., the parent company of the National Post, has said that downtown Toronto is OLGs first choice. Caesars, MGM Resorts, Las Vegas Sands Corp., Woodbine Entertainment and Onex Corp. have all expressed interest, with Caesars in particular saying it considers the Metro Toronto Convention Centre as the best site. MGM prefers Exhibition Place.

If the decision is made to have a casino in the City of Toronto, Oxford believes it can provide the best location and the ideal solution for all stakeholders, Blake Hutcheson, president and CEO of Oxford Properties, said in the press release. We have engaged an extraordinary team to develop the very best plan for this site and to transform this entertainment and commercial hub into a world class destination.

Oxford Properties The Oxford proposal.

The proposed location of the casino and hotel is on the western edge of the property. Renderings depict two hotel towers on that part of the land, with the casino at the base of one, and another two sky scrapers on the eastern side for commercial and residential. The company wants to phase construction of the new, state-of-the-art convention space before demolition begins. The expanded convention centre would result in over 22 acres of contiguous exhibit space, the press release said.

The company described its proposal as a well-conceived private sector solution that does not require public infrastructure or other funding.

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Downtown casino, new convention centre could hit Toronto after $3-billion proposal

Marco Filice believes that a bright future lies ahead for Highway 7.

I think it has the potential to be the next Yonge Street, says the senior vice president for Liberty Development, which is developing Centro Square, a two-tower, 800-unit condo project located at Highway 7 and Weston Rd., at the edge of Vaughan Metropolitan Centre. (The site was previously home to Al Palladinis Pine Tree Lincoln Mercury car dealership.)

Centro Squares two residential towers one 33 storeys, the other 31 storeys will sit atop a podium that will include more than 250,000 square feet of office and retail space.

Centro Square is only the latest in a slew of mixed-use condo projects that have been cropping up in recent years along Highway 7 from Vaughan to Richmond Hill to Markham as York Region works to concentrate high-density development on its major thoroughfare, in accordance with Ontarios smart growth strategy.

This intensification effort will be aided by the eventual construction of Viva transits Highway 7 rapidway, a bus rapid transit (BRT) service that will run down the median of Highway 7, connecting the Vaughan Metropolitan Centre with the Richmond Hill and Markham town centres.

There will also be a new TTC subway station opening at Highway 7 just west of Jane St., the final stop on the Toronto-York Spadina subway extension.

With all that mixed-use development and the transit to support it, Filice is convinced Highway 7 will ultimately rival North Yorks densely populated Yonge St. condo corridor. There are going to be a lot of new developments here in the years to come, he says.

Liberty has staked a few claims along Highway 7. The developer has completed work on Eko, a 196-unit project in Markham Centre at Highway 7 near Warden Ave., and has launched another, Royal Gardens, at Highway 7 and Bayview Ave.

Centro Square, situated at the entrance to Vaughan Metropolitan Centre, is one of a number of other projects in the area particularly the Cortel Groups Expo City, just east of Centro Square that are helping develop a true city centre for Vaughan where none had existed before.

Centro Square has been designed by Kirkor Architects (the same firm that worked on Libertys mammoth World on Yonge project just north of Steeles Ave).

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Centro Square the gateway to Vaughan