Arts district getting more condos, shops
Complex in Davidson should be done in 2008
DOUG SMITH
The Condos in South Main Square are planned for
Davidson's arts district.
More residences and shops soon will join the South
Main Square Arts District in Davidson.
Charlotte's Cameron Capital LLC is planning 26
condos at South Main Square, a 7-acre mixed-use development in the 400
block of South Main Street.
The complex, about two blocks from the downtown
commercial district, will include arts facilities, shops, offices,
restaurants and loft residences.
Urban Organic I LLC, the master developer, launched
an estimated $15 million to $20 million project last year to upgrade seven
buildings there and convert one to offices and residential lofts.
The Condos in South Main Square -- to be constructed
on a vacant parcel -- will be the second phase, said Urban Organic's
Kathleen Rose.
The first-phase lofts sold out, she said, to a mix
of buyers involved in service businesses, the arts and education.
The condos will be three three-story buildings with
11,000 square feet of commercial space on the ground level.
The project is consistent with Davidson planners'
initiative to create more housing in and around the arts district.
Construction is expected to start in early May and
be completed by summer 2008.
Rose said the developers see potential for a third
phase: redevelopment of some of the older buildings.
The location was attractive to Cameron Capital, said
Kevan Smith of Landsmith LLC, project development manager.
"It's right on Main Street," he said.
"When we're up there, we eat lunch at the soda shop and have coffee
at the coffee shop -- all within walking distance."
The Condos in South Main Square will include
townhome-style units and flats priced from the $220,000s to the $240,000s.
Smith said the project consists of 11 flats, each
1,132 square feet; 12 townhomes of 1,090 and 1,072 square feet; and three
550-square flats that are required by the town for work force housing.
The ground-level commercial space will be divided
into 10 commercial condos of 1,068 square feet each and one totaling 1,600
square feet.
Rose, also president of Rose & Associates
Southeast Inc., is handling commercial leasing.
No rates have been determined, but she anticipates
annual rent in the $20 to $22 a square foot range, which would be in line
with market there.
Development Team
Master developer: Urban Organic LLC, formed
by Kathleen Rose, Diane Carter and Adrienne LaFar.
Condo developer: Cameron Capital LLC, whose
principals are Frank Martin and Latham Grimes.
Development manager: Landsmith LLC.
Architect: The Lawrence Group.
Interior designer: Sensible Space.
Contractor: Superior Construction Corp.
|
