Citizens examine maps at Cornelius Town Hall Wednesday showing proposed roadwork around the planned Augustalee project. (David Boraks photo)

Developers of the $515-million Augustalee mixed-use project in Cornelius face a key vote on April 29 when the regional planning organization decides whether to move forward with about $90 million in roadwork required as part of the development. If approved, developers Cornelius Bromont LLC say they’ll remain on track to open the first retail stores and luxury condos in 2012.

The work would include I-77 widening, construction of a new Exit 27 at Westmoreland Road, and other local transportation improvements. As a condition of approval by the Cornelius Town Board last year, developer Cornelius Bromont agreed to pay up front for the work, and be reimbursed later, mainly through tax revenues the development generates.

Augustalee is proposed for 108 acres of farmland at Westmoreland and Statesville Roads, next to I-77. It would include shops, Class A offices, two hotels, a large retailer (possibly a Super Target) and luxury condos.

The road plan already has approval from the N.C. Department of Transportation. And it’s in the midst of a public comment period locally after getting the go-ahead last month from the Transportation Coordinating Committee of the Mecklenburg-Union Metropolitan Planning Organization, or MUMPO.

The road projects are not currently in the long-term transportation plan of MUMPO, which includes representatives of local governments throughout the region. On April 29, MUMPO must give its OK for the projects to move forward. The public comment period ends April 22.

Josh Rector

If MUMPO approves, the developers next would approach the Town of Cornelius and Mecklenburg County to line up a financing package that would repay the $90 million over about 20 years. And the developers would begin final engineering, said Josh Rector, senior vice president for Cornelius Bromont.

“We’re actually still on our original proposed time schedule, despite all of the economy and the difficulties that provides for a lot of developers,” Mr. Rector told DavidsonNews.net. “We’re still anticipating to start construction … first quarter of next year, and still aim to open in fall of 2012.”

PUBLIC VIEWING & COMMENTS

Dozens of citizens, businesspeople, and others stopped in at Cornelius Town Hall Wednesday to learn more about the roadway plans and offer comments. At that drop-in workshop, aerial photos spread on tables showed the scope of the road improvements. They include:

• Widen I-77 from I-485 north to Exit 28 in Cornelius.
• Construct a new interchange, Exit 27, at Westmoreland Road.
• Create a new road (Jim Cooke Road) stretching from east of Statesville Road at the Bailey Road curve westward across Statesville Road and I-77.
• Building a new segment of Northcross Drive from Jim Cooke Road to Westmoreland Road.
• Widening Statesville Road (U.S. 21) near the Augustalee project.
• Widening Westmoreland Road.
• Realigning Bailey Road at Poole Road

Andrew Grant, the assistant town manager in Cornelius, said the developer’s plan to pay for the roadwork up front stands apart from the usual Transportation Imporvement Plan (TIP) process, in which the government prioritizes and pays for projects with public funding.

Andrew Grant

“The reason this is so interesting and unique is it’s non-TIP funding, where typically … 99.9 percent of your state roads receive federal funding through the TIP. This doesn’t propose to use any TIP funds, which is a good thing,” Mr. Grant said.

He said the project is a good one for the whole region. “It’s going to have transportation improvements, not only for this development, but also for all the background development that we’re seeing as well,” Mr. Grant said.

Len Chandler, who has lived in Cornelius 16 years, said he supports the roadwork and development. He said it would be benefit to Cornelius as development continues throughout the Charlotte region.

“It’s gonna be inundated around this area,” said Mr. Chandler, who owns property near the Augustalee site. Without this project, he said, “We’ll just be a rural PO box. They can’t stop the development in and around Charlotte. It’s such a nice place to be. (The roadwork) is a necessary thing with what’s going on around us.”

When Cornelius commissioners considered the project a year ago, residents and town board members were split on whether the project would be good for town. Some residents circulated a petition and spoke at public hearings, arguing it would be too big and out of character for the town.

http://davidsonnews.net/2008/04/23/cornelius-board-oks-village-project-3-2/

In making their case, the developers and their supporters said the project would be the “highest quality” project of its kind in the region, and would have regional benefits. And they said it would bring badly needed traffic improvements, such as I-77 widening, years or decades earlier than currently expected.

At Wednesday’s drop-in session, most people seemed optimistic that the massive project would eventually happen. Asked whether hurdles remained that still might halt the project, Mr. Grant answered cautiously. “Well, that’s why we’re going through the approvals. We have to go through the approvals for transportation and also for the financing as well. So those are still things that need to be worked upon.”

Mr. Grant said the developer and government officials still need to agree on the financing package – something that will requires additional votes by elected officials. And other road approvals also will be required, including an “interchange justification report” to persuade highway officials that the proposed Exit 27 is worthwhile.

Mr. Rector struck a more positive tone: “It is happening,” he said. “April 29 I think is when you’ll see a lot of the roadway approvals happen and tremendous progress to move forward. But we’re all looking forward to when we put the first shovel in the ground.”

RELATED LINKS

Augustalee project website, with maps, news and other info.

Dec. 17, 2008, DavidsonNews.net, “Developer begins clearing land for big Cornelius project.”

Nov. 12, 2008, DavidsonNews.net, “Village at Lake Norman to be called Augustalee.”