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Events State Legislative Breakfast
The Greater Chapel Hill Association of REALTORS is sponsoring the Chapel Hill-Carrboro Chamber’s Third Annual State Legislative Breakfast on August 11 from 8-9:30 a.m. at the Carolina Inn. The event will provide an opportunity for members to hear from State House and Senate Leadership about key legislative priorities and ask questions of the elected officials. Invited speakers include: Speaker of the House Joe Hackney (Orange/Chatham), Representative Verla Insko (Orange), Representative Bill Faison (Orange/Caswell), Representative Larry Hall (Durham), Senator Bob Atwater (Chatham/Durham), and Senator Ellie Kinnaird (Orange/Person). Seats are $30 for association members and $40 for non-members. You can register by clicking here.
New Development
Glen Lennox Project on Hold
Glen Lennox Project on Hold
Grubb Properties, owners of Glen Lennox Apartments, apologized at the final Chapel Hill Council meeting in June stating their initial plan was not sensitive to the history of Glen Lennox. The plan initially called for 908 new homes as well as retail, office and restaurant space. Clay Grubb of Grubb Properties said the plan did not “preserve the unique character that makes up Glen Lennox’s heart and soul.” The Town Council voted to accept the Glen Lennox area neighborhood petition and initiate phase one of the neighborhood conservation district (NCD) process. Going forward, Grubb Properties and the neighborhoods will begin discussing elements of the NCD. For the full story, click here. Noodles and Co. to Occupy Old Wicked Burrito Site
Noodles & Company, a Colorado-based restaurant chain that serves Asian, Mediterranean and American cuisine, will open at the former site of the Wicked Burrito at 214 West Franklin Street. The site was left vacant while being held by Kansas-based Lone Star Steakhouse and Saloon, Inc. for 4 and a half years. Liz Parham, Director of the Chapel Hill Downtown partnership, welcomed the restaurant’s presence in the building that had left a void for so long on Chapel Hill’s downtown. Parham says Noodles’ national success and the prominence of its new location on Franklin Street are reasons to be optimistic about the restaurant.
From the Herald Sun. 3CUPS Closes, Plans Move to Village Plaza
3CUPS owner Lex Alexander has closed his shop at the Courtyard in Chapel Hill after months of standoff with his landlord Spencer Young. Alexander plans to reopen the coffee shop at 227 Elliott Road near the ABC Store in Village Plaza. The store is planned to open in early fall. For the full story, click here.
Schools Chatham Hires New School Superintendant
Robert L. Logan was unanimously selected by the Chatham County Board of Education as the next superintendant in mid-April. Logan comes to Chatham from the State Department of Public Instruction, a position he has been at for about a year. Prior to working for the State, Logan was superintendant of Asheville Schools. Logan was selected by the Board from among 29 candidates for his enthusiasm and innovative ideas. He will receive a salary of $140,000 plus benefits.
From the Herald Sun.
Orange County County Passes 4.8 Cent Property Tax Increase
The Orange County Board of Commissioners voted unanimously to approve a 4.8 cent property tax increase at their June 24 meeting, bringing the tax rate to 99.8 cents per $100 valuation. The County budget came in at $183 million and included a few last minute tweaks such as the county sheriff’s office going from adding four to six new deputies and forgoing $121,000 to purchase new vehicles. For the full story, click here. OWASA Passes Rate Increase
On June 26, the OWASA Board of Directors adopted FY 2008 and 2009 operating and capital budgets and approved a combined increase of 17 percent in monthly water and sewer rates. The increase comes as a result of decreasing water consumption due to conservation efforts and will affect business and residential consumers alike; revenue from new development connection fees is also expected to drop. For the typical residential customer using 5,000 gallons of water per month, the monthly bill will rise from $58.18 to $68.24. As part of the increase, businesses will also be faced with a water rate surcharge that will occur during Stage 1 and 2 water restrictions. There will be a 15 percent increase in water rates during Stage 1 and a 25 percent increase during Stage 2. For more information, click here. Carolina North Fiscal Impact Study Released
Tischler-Bise, a consulting firm hired to estimate the fiscal impacts of UNC’s Carolina North campus, unveiled a draft report before local elected officials at a June 26 meeting. The draft report looks at the direct and indirect impacts of the project on Chapel Hill, Carrboro and Orange County. Looking at just the direct impacts for Chapel Hill, the consultants say the town will take on an additional $35 million in costs over the next 20 years to provide schools, fire protection and garbage pickup and gain $18 million through the estimated 8,600 new jobs created at the campus. For Orange County and Carrboro, the direct benefits are estimated at a net $26 million and $3.5 million, respectively. If the indirect impacts are included, Chapel Hill receives another $19 million in net benefits. Many of the elected officials present were skeptical of the figures saying they did not agree with the model and assumptions or that more new jobs—and housing associated with those jobs—would be a benefit. For the full story, click here. Economic Development Work Plan Progressing
In a meeting on Thursday evening, the Chapel Hill Town Council’s subcommittee on economic development reviewed Economic Development Officer Dwight Bassett’s proposed work plan. The plan calls for a budget between $199,750 and $299,750. Funds would go toward studying the retail market of Chapel Hill to identify opportunities and capacities in the market for new retail. Other funds would go to small area planning for development and redevelopment opportunity sites and ‘jump-start” grants. The ‘jump-start’ grants received a favorable review from committee members and would be used as a short-term subsidy covering up to one-third of a lease. For the full story, click here. Orange County Comprehensive Plan Update
The Orange County Comprehensive Plan, which is the guiding document of development in this county, is currently undergoing an update for the first time in twenty-five years. The Greater Chapel Hill Association of REALTORS, as a member of the Orange County Comprehensive Plan Coalition, has played a key role in influencing the contents of this plan and the update process. You can also weigh-in on the plan contents by speaking at the County Commissioners meeting on August 25. You can email the planning board your comments at this address and you can view the draft Comprehensive Plan here. The Comprehensive Plan is a critical document that will guide the development of the County over the next 20 years, please take some time to express your views on what you want to see Orange County become. Orange Education Leaders Welcomed
The Orange County Board of Education welcomed three new members at their most recent meeting. Two of those newcomers, former County Commissioner Stephen Halkiotis and Tony McKnight, were elected chairman and vice chairman, respectively. Eddie Eubanks also joined the Board. The three new members received the highest percentages of votes in a six-candidate race for the three open slots during a May 6 election. For the full story, click here. Yuhasz Wins County Commissioner Seat
Steve Yuhasz earned a seat on the Board of Orange County Commissioners, defeating Leo Allison of Efland in a runoff primary election. Yuyasz won with 55.7 percent of the vote to Allison’s 44.3 percent. Yuhasz will represent Northern Orange County in his District 2 seat. Yuhasz will join an expanded 7-member board as two seats will be added this year. The new board will include three representatives from Chapel Hill and Carrboro, two representatives from District 2 (the remainder of Orange County) and two at-large seats. For the full story, click here.
The Triangle Chatham Commissioners Vote to Extend Development Moratorium
In a June 2 meeting, Chatham County Commissioners voted to extend a year long development moratorium another six months. The ban is on developments with 26 or more residential lots, not commercial real estate, and does not apply to the county’s two incorporated municipalities Pittsboro and Siler City. In statements made by commissioner chair George Lucier, the moratorium was meant to revisit county rules governing growth and that county staff have found that those revisions are more complicated than originally thought. For the full story, click here. Chatham Passes 3.6 Cent Property Tax Increase In June, Chatham County Commissioners passed a 3.6 cent property tax increase bringing the County tax rate to 65.3 cents per $100 valuation. Originally, the county manager proposed a 5.5 cent increase. The increase means the owner of a $200,000 house will pay $72 more per year. Chatham’s approved budget included cutting funding to a new Community Development Department by $186,207. Chatham leaders also reached an agreement with Durham to buy water from that county, saving Chatham $722,266, money that has been transferred to a water capital reserve. For the full story, click here. UNC Health Care to Buy Chatham Hospital UNC Health Care announced Wednesday that it will be buying Chatham Hospital in Siler City for $11.3 million. The 11.3 million dollar figure includes a transfer of $2 million to Chatham Hospital and $9.3 million to develop health care services in Chatham County. UNC Health and Chatham Hospital have a “great working relationship,” according to Laura Clapp, chair of Chatham Hospital’s board of trustees; UNC Health has managed Chatham Hospital since 2006. For the full story, click here. New Chatham GIS Website Unveiled
Chatham County has revamped its website for a new Geographic Information Systems software. The GIS website will remain the same (www.chathamgis.com), and is still accessible from the County’s homepage at www.chathamnc.org. The primary advantage of the new software is an interactive map of the county where the user can see easements, boundaries, water resources, aerial photos, and census information, among other data. According to GIS Specialist Jeremy Poss, using free “OpenSource software” saved the county anywhere from $20,000 to $40,000 in software costs and annual fees. For the full story, click here. Durham Can Put Meals Tax on November Ballot A bill will give Durham County voters the chance to vote on a proposed one percent tax on prepared food and drinks passed the state House by a narrow vote of 60-59 and then the Senate by 22-19 on Thursday. The bill authorizes a referendum during the November 4 General Election. Eighty percent of the tax’s proceeds would fund the renovation of many of Durham’s attractions: the Carolina Theater, the Durham Civic Center, and the Museum of Life and Science. The remaining 20 percent would fund marketing, workforce training, and community cleanup. For the full story, click here. Interactive Graphic for Wake County Taxes This year’s property re-evaluation process combined with property tax rate adjustments for Wake County and its respective towns makes it difficult to know what a Wake resident’s property tax bill will be at the end of the year. The News and Observer now has an interactive graphic that makes those calculations simple. “The New Tax Rate and You” not only includes a 2008 Property Tax Calculator, but also graphically illustrates how the new tax rates affect properties of different values in Wake County towns and cities. To view the website, click here.
State Green Building Council to Modify LEED Standards
The U.S. Green Building Council is changing its Leadership in Energy and Environmental Design (LEED) program, the certification process for green buildings. A 30 day online public comment period ended last month. New changes will be rolled out as LEED 2009 in January.
Over LEED’s 8 year history, the USGBC has changed the way people look at building. There are over 10,000 buildings waiting to be certified. LEED certifies the following construction categories: New construction, existing buildings, commercial interiors, core, and shell, retail, schools, health care, and homes. LEED certifications take a look at the entire building process from start to finish while taking a whole-building approach to sustainability once the project is complete. Points are awarded in categories including water savings and energy efficiency; points will earn a building certification.
The LEED 2009 changes will tackle criticism that it is too rigid and costly, and for awarding a single point to both additions that are cheap and easy as well as to serious time and money investments (you earn one point for having a bike rack, and one point for installing a costly new efficient HVAC system, for example). Ashley Katz, USGBC spokesperson says that LEED 2009 will be “simpler and more elegant and committed to continuous improvement.” For the full story, click here.
Amtrak to add Third Charlotte-Raleigh Train
Governor Mike Easley’s office announced Wednesday that Amtrak will add a third passenger train to its service between Raleigh and Charlotte. Increased ridership due to the recent spate in gas prices has prompted the addition of a mid-day run. Ridership on the current Charlotte-Raleigh was up 22 percent between October 2007 and April 2008. The Governor’s office said that the $3 million needed to operate the new route will come from the federal government for the next three years. The new train should be operational within a year. For the full story, click here.
New Development Major Retail Project Moves Forward in Orange County
A 120-acre major retail development at the Buckhorn Road flea market site moved forward for Orange County approval last week. The land, owned by Orange County Investors, is located at the southeast corner of I-85/I-40 and Buckhorn Road between Hillsborough and Mebane. Development plans call for around 1,000,000 square feet of retail development, a third of which will serve as a “walkable village” similar in concept to the Streets of Southpoint in Durham. By comparison, Southpoint is around 1.3 million square feet. The remainder of the development would include larger retail establishments. The development is occurring in a designated economic development node and does not include plans for any residential development. If everything goes according to plan and the project is approved, this would be the largest development project of its kind in Orange County. The estimated tax revenue from the project is $5 million and will create 5,000 new private sector jobs. For the full story, click here.
Schools UNC Receives Kiplinger’s Top Honor for Seventh Year
The February issue of Kiplinger’s Personal Finance magazine named the University of North Carolina at Chapel Hill the best value in public education for in-state students for the seventh year in a row. An article about schools that made the best value list attributed UNC’s commitment to raising private funds as one of its best resources for making an outstanding and affordable education for North Carolina residents. The fundraising campaign at UNC, which concluded last year and brought in an extra $2.3 billion for the school, is just one example of the university looking outside of the tuition box to fund its prestigious academics and research. Kiplinger also commended UNC for being committed to meeting the financial need of students by allowing students from low-income families to graduate debt-free. The first group of students to benefit from this program, called Carolina Covenant, will graduate in May. To read the full article, click here.
Orange County University Mall, Rams Plaza Sell for $53 Million
In December, Madison Marquette, a Washington D.C. based company, purchased University Mall and Rams Plaza in Chapel Hill for $40 million and $13 million, respectively. According to Madison, the company specializes in purchasing and renovating underperforming assets. At this point, a spokesperson for Madison was unable to comment on specific plans for the properties. For the full story, click here. Nine New Businesses Slated to Open Downtown
Downtown Chapel Hill is set to welcome nine new businesses to downtown. Everything from a gourmet burger place called “Buns” to “Sugarland Bakery”, downtown Chapel Hill will have quite a menu for restaurant goers. Beyond eateries, “Glee Kids”, a children’s clothing boutique, and Jernigan-Wicker Fine Arts & Pearson Fine Arts will also open in February and give residents more places to shop in Chapel Hill. In all, these nine businesses join another twenty businesses that opened or re-opened in the downtown during 2007. For more information about these businesses and downtown, click here. Town Council Lets Moratorium Expire
A vote was made on Monday by the Chapel Hill Town Council to allow a moratorium in the Northern Study Area to expire this month. In November the council asked town staff to consider extending the moratorium for more time to explore other options for the plan to develop areas of northwest Chapel Hill. By allowing the moratorium to end in January the council accepted the proposals of Roger Stancil, manager of the Town Council and J.B. Culpepper who serves as the planning director. Another vote made by the council will allow a final report from the Chapel Hill Northern Area Task Force to be included in the town Comprehensive Plan. It will also add a “development opportunity areas” aspect to the current Land Use Plan. For the full story, click here. UNC and Town Council Move Ahead with Carolina North Plans
The UNC Board of Trustees and the Chapel Hill Town Council met last Sunday to discuss the collaboration of both groups in the plan for Carolina North, the university’s new research campus on MLK Jr. Boulevard. The meeting addressed concerns from council members about UNC’s willingness to work with the town council in forming the long-term vision of Carolina North, especially its effects on the town. Chairman of the UNC Board of Trustees, Roger Perry, said that the university is flexible in its plans for the future of Carolina North and that it would work with the town in the process of developing the 250 acre campus. An agreement was made between the two groups that an official presentation would be made before the council and a public hearing would be held before moving forward with the Carolina North development. For the full story, click here. New Traffic Pattern for Erwin Road/Europa Drive
As of Tuesday, January 8, vehicles will no longer be able to make left turns or through movements from Erwin Road/Europa Drive onto U.S. 15-501. According to the NC Department of Transportation, the new pattern will reduce traffic congestion at the busy intersection. For more information, contact Donnie Huffines at 336-570-6830.
From the Chapel Hill eNews Visitors Center Sees Major Increase
The Chapel Hill/Orange County Visitors Bureau recorded a 58 percent increase in visitors from 2006 to 2007. For all of 2007, the Center recorded 15,778 visitors compared to 9,947 in 2006. The Center, located on West Franklin Street in Chapel Hill, says July is the busiest month followed by April. For the full story, click here. Town Hires New Business Management Director
Town Manager Roger Stancil announced in early January the appointment of Ken Pennoyer as Business Management Director. Pennoyer comes to Chapel Hill from Durham where he served as finance director for the past 4 years. Stancil said Pennoyer will be tasked with “transitioning the finance department into one that manages the business of the Town including budget, accounting, business analysis and information technology.” Pennoyer will begin on February 4.
From the Chapel Hill eNews Hearing to be Held Concerning Town Towing Ordinances
The Town Council announced Monday that it will hold a public hearing regarding proposals to change town towing ordinances. Consideration of amendments were brought to the attention of the council in October through a petition by Margaret McCann, who voiced her discontentment with excessive fees and abusive towing practices regarding two towing incidents of family cars on Franklin Street. The council is especially concerned with the existing ordinances’ lack of position on the issue of vehicle operators returning to cars while towing process is taking place. McCann has proposed that towing sign regulations be reconsidered and has suggested booting as an alternative. The Chapel Hill Police Department has submitted its suggestions to include $100 limit on removal fines and a provision preventing towing operators from removing a vehicle if the operator returns. To read all of the Chapel Hill Police Department ordinance proposals, click here.
The Triangle State Tells Pittsboro to Redo Election
After listening to accusations of voter intimidation and other election law violations, the State Board of Elections backed a new election for the Pittsboro Town Board. The special election will occur on March 18 between November’s third and fourth place finishers, Hugh Harrington and Michelle Berger, respectively. In the November election, Harrington beat Berger by six votes, though it was later determined that 17 voters received an incorrect ballot. The new election will come at a cost of $2,000. For the full story, click here. Chatham Retail Leakage Reported
Early results of a study commissioned by Chatham County’s Commissioners reports, among other things, a sizeable retail leakage in the county. The following table details the amount of sales captured in the county and amount leaked outside the county. All figures are in millions. Chatham
2004-2005
| Captured in County | Leaked Outside County | Total Spending | Leakage Rate | | Apparel | $2 | $27 | $29 | 92% | | Automotive | $74 | $72 | $146 | 49% | | Food | $134 | $88 | $222 | 40% | | Furniture | $28 | $16 | $44 | 36% | | General Merchandise | $110 | $182 | $292 | 62% | | Lumber and building material | $44 | $86 | $131 | 66% | | Unclassified | $41 | $287 | $329 | 87% | | Total | $448 | $788 | $1,236 | 64% |
Source: Presentation by Jason Jolley, Chatham County Economic Development Summit
Commercial Nodes Urged in Chatham County
A 19-member task force created by the Chatham County Commissioners recommended the development of targeted commercial nodes as a way to preserve the county’s rural character. The task force recommends development occur along U.S. 15-501, the intersection of N.C. 902 and U.S. 421, N.C. 87 north of Gum Springs Road and south of Chicken Bridge Road, the intersection of U.S. 64 and N.C. 751, and U.S. 1 near Moncure. Further, the task force recommends varying sizes of commercial development at each node. A “neighborhood node”, for instance, would consist of two small retail or grocery stores each around 40,000 square feet. The nodes progressively increase in size all the way up to a “regional node” which would not be limited in size. A regional node is recommended for the intersection of N.C. 902 and U.S. 421. Beyond the nodes, the task force recommends parking areas be behind buildings and have at least 50 percent shade along with the use of proper landscape to screen the buildings from the road.
From the News and Observer Chatham County Commissioners Approve $270 million in Construction
The Chatham County Board of Commissioners approved a five-year construction plan that will upgrade the county’s water lines and treatment plant and add a new elementary school in the northeastern part of the county. Northwood High School will also be expanded and Bonlee, Bennett and Silk Hope schools will receive new gyms. All told, the work will cost about $270 million and the Commissioners say they will do whatever they can to reduce the impact on property taxes. The new projects and costs require $84.5 million in funding, which would represent about 7 cents on the tax rate. For the full story, click here. Durham Water Bills Likely to Rise
Mandatory water restrictions and the purchase of pumps and pipes to connect to new water sources will cause water bills in Durham to rise. Water use in Durham has decreased since mandatory restrictions were enacted September 21 and City Manager Patrick Baker said that means the water management department will not meet its revenue projections for the year. Leakages resulting from cracked pipes also costs Durham about 3.3 million gallons of water a day. For the full story, click here. Durham Considers Expanded Incentive Policy
Durham County Commissioners proposed changes to the County’s current incentive policy last week, broaching the idea of offering financial assistance to high-dollar commercial and retail developments occurring in targeted historic business districts. The districts include downtown, the Fayetteville Street corridor between Main Street and Cornwallis Road and North/East Central Durham. While Durham’s existing incentive policy has resulted in new businesses moving to the County’s business parks, this expanded policy would only offer money to businesses locating in the historic business districts. The new policy would require some level of investment or the creation of at least 200 new jobs by the business seeking incentives.
From the News and Observer Raleigh Mayor Outlines Plan to Increase Water Bills by 50 Percent
In an effort to stimulate conservation, Raleigh Mayor Charles Meeker announced to the press that he will ask the city council to increase water bills, both residential and commercial, by 50%. If approved the surcharge would take effect in March and not appear on bills until May. Below is a chart illustrating what the increase would mean to a household consuming 6,000 gallons per month and the relative prices of water in comparable cities.
| Current Price Per Year | Proposed Price Per Year | | Raleigh | $356.76 | $535.14 | | Cary | $693.48 | -- | | Durham | $533.88 | -- | | Charlotte | $480 | -- | If the rate hike works as the Mayor hopes, Raleigh would pump an average of 6 million gallons less water per day. For the full story, click here. RDU Reports Major Increase in Travelers for 2007
Raleigh Durham International Airport recorded over 10 million passenger flights in 2007, up 6.4 percent from 2006. The record for RDU is 10.4 million in 2000, prior to the September 11th terrorist attacks. According to the airport, the uptick in travelers was a nationwide trend and the addition of ExpressJet and new lines to Denver and New Orleans also helped. For the full story, click here.
State N.C. Bankers Forum Forecasts More of the Same
At the N.C. Bankers Annual Economic Forecast Forum, three keynote speakers all projected 2007’s economic trends to continue in 2008. David M. Walker, U.S. Comptroller General, told the audience that it would not be until 2009 that economic conditions might begin to improve. Walker did point out that the U.S. economy had seen similar slowdowns in previous decades and sited his alarm over current Federal spending patterns. David F. Seiders, the Chief Economist of the National Association of Home Builders, projected that it would not be until the third quarter of 2008 that the housing industry would see improvements.
Nation Wachovia Economist Says U.S. Recession Unlikely
The 2008 economic forecast presented by Mark Vinter, senior economist for Wachovia, does not include a recession for the U.S. economy. On Tuesday Vinter explained to the North Florida chapter of the Association for Corporate Growth that current talks of an economic recession are premature. Wachovia’s models for the national economy predict that in the next six months there is around a 50 percent chance that there will not be a recession. The key factor in the health of the economy lies in the annual growth of the GDP, which is expected to increase in the last six months of the year. Though the housing market is causing GDP growth to be lower, Vinter says that strengths in the economy such as manufacturing and income data will most likely keep the economy healthy. For the full story, click here.
The Real Estate Report is produced monthly by the Chapel Hill Chamber of Commerce and the Greater Chapel Hill Association of Realtors
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