Town takes next step with lots

About 75 people convened Tuesday afternoon at the Chapel Hill Town Hall to hear from a downtown project committee seeking to solicit a developer for its multimillion dollar initiative.

The Chapel Hill Town Council’s Committee on Lots 2 and 5 presented plans to developers for mixed-use developments, which will be constructed along Franklin and Rosemary streets, during a pre-proposal conference.

Developments are scheduled to be constructed on lot 2, behind Spanky’s restaurant, and on lot 5, across from University Square.

The development of a new parking deck on Rosemary Street where the RBC Centura bank now sits, a transit transfer center at lot 2 and a three-story addition to the Wallace parking deck also are planned.

A nearly full council chamber received the two-hour presentation. Committee members later led a tour of lots 2 and 5.

“I’m convinced this town is ready to do this deal. As a developer, that’s very important,” said project consultant John Stainback of Stainback Public/Private Real Estate LLC.

During the conference, committee members noted the town’s nomination as No. 1 Best Place to Live by MSN House & Home’s America’s Places to Live in 2003, as well as the community’s storied downtown district.

“I think (the committee) has positioned themselves well,” Scott Radway, a planning and land development consultant in Chapel Hill, said after the presentation. “It’s going in the right direction. They have prepared developers well.”

But Mayor Kevin Foy stressed that the town would review developers’ interest with great caution.

“Chapel Hill has a reputation as being a demanding community,” Foy told attendees. “I think you’ll see that as you look at the guidelines we’ve developed.”

Foy also said the committee thinks that the community has thrown its support behind the project.

“We see this as a social and economic opportunity for downtown,” said Council Committee Chairman Bill Strom. “We’re looking for a visionary approach to this project.”

During one portion of the conference, committee members relayed their personal concerns about the project to developers.

Fellow member Mark Kleinschmidt urged developers to consider all financial options, mentioning that tax increment financing, which passed in Orange County by a narrow margin in November, could cause problems.

After the conference, Dave Colwell, director of marketing for The Resolute Building Company in Chapel Hill, said he was impressed with the committee’s efforts.

“It was very informative,” he said. “They did a thorough job.”

The deadline for developers to submit responses to the request for qualifications document is Jan. 31.

Contact the City Editor at citydesk@unc.edu.