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I'm the person who originally had that parcel of land under control. My analysis called for 252 units. I included podium parking, but I also included first floor retail along UTC Drive. To justify the per acre price, the new developer had maximize the site load. You can view my analysis here if you're curious. It is about 18 months old now, so some figures will be out of date.
Thank you for sharing, that was a very interesting and enlightening read! Do you by chance know if the new developer will have retail like your plan or do you mean by "the new developer had maximize the site load", that it had to be complete residential?
Also if you can answer, do you know who the new company is?
Still blows my mind that there can be that many units on site, it must be deceptively small looking from the road.
I like that your focus was on working professionals/dinks for this project, its sorely needed, or seems to be anyway.
Unfortunately, I don't know any additional details other than that I think it will be a market-rate community.
I think with the AADT on that road continually increasing, retail made sense along the road frontage. This required a bit more in parking, but I believe the projected rents made it the right call and would add a little bit more of a sense of place.
And yes, with the development on the western side of the interstate, working professionals/DINKs make the best target market.
I'll be interested to see how this development plays out.
I'm the person who originally had that parcel of land under control. My analysis called for 252 units. I included podium parking, but I also included first floor retail along UTC Drive. To justify the per acre price, the new developer had maximize the site load. You can view my analysis here if you're curious. It is about 18 months old now, so some figures will be out of date.
Fun read, thanks. Out of curiosity, you note in the report that the parcel is within Morgantown. is that true? I thought that area at UTC was Granville.
So what is the big thing supposedly coming to Fairmont. There has been nothing I have seen although the mall was bought out and supposedly that area was to be redeveloped. There is also the development that is cleared below the mall called Riverview Commons but nothing has happened there. They just finished a brownfield cleanup in Fairmont which could also see something if the city markets it correctly.There has been some saying they were going to expand the business park but I doubt they do that unless they have someone committed already.
I'm the person who originally had that parcel of land under control. My analysis called for 252 units. I included podium parking, but I also included first floor retail along UTC Drive. To justify the per acre price, the new developer had maximize the site load. You can view my analysis here if you're curious. It is about 18 months old now, so some figures will be out of date.
I wonder if the black bears will buy some of the condos for their players to live at during the summet.
The Black Bears have "Host Families" for their players. Local families open up their homes and allow the players to stay with them, kind of like foreign exchange students. Not sure if they get a stipend for it, or just do it for the experience. I do not think the Black Bears would pay for a Condo to be used for a little over 2 months (mid June until beginning Sept.) in a town that is dependent upon August to May leases.
Fun read, thanks. Out of curiosity, you note in the report that the parcel is within Morgantown. is that true? I thought that area at UTC was Granville.
Yeah, It's wrong, you're right. It's a mistake I never got around to fixing. Good catch.
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