COVER STORY, JULY 2007

MIXED-USE SPOTLIGHT
Markets demand a mix in major projects.
Gardner Linn

321 North
Plantation, Florida

321 North in Plantation, Florida, is being developed into a LEED-certified lifestyle destination.

The 321 North project in Plantation, Florida, is both an example of how careful long-term planning pays off, and of how such consideration for the future does not end when construction is completed. With 321 North, the goal of the City of Plantation and investment group US Capital Holdings is to redevelop an obsolete site into a complete lifestyle destination, while receiving Leadership in Energy and Environmental Design (LEED) certification to minimize environmental impact and keep the property competitive in the years to come.

The 33-acre site at Broward Boulevard and University Drive currently includes the largely vacant Fashion Mall and an office pavilion; when demolition, renovation and new construction are completed, 321 North will comprise a 650,000-square-foot retail space, 300,000 to 400,000 square feet of Class A office space in two new office buildings, and 400 to 600 residential units in two mid-rise towers.

The estimated $350 million project is a major part of Plantation Midtown, an 850-acre urban center that is expected to help turn Plantation into a regional destination. Plantation has embraced mixed-use in its master plan for the Midtown area. “Mixed use is not only a key element of the City’s master plan for Midtown, but is an important consideration in repositioning the beleaguered Fashion Mall property because it will create a sustainable development,” says Paul D’Arelli of Greenberg Traurig, P.A., legal counsel for the project and an accredited LEED professional. “Having residents and office employees within the project that will patronize the retail and restaurant venues helps create an exciting and vibrant 18-hour-a-day center where retailers want to locate their businesses.”

Another element of 321 North that contributes to sustainable development is LEED certification; US Capital Holdings Group has applied for 321 North to be a pilot project in the US Green Building Council’s LEED for Neighborhood Development program, and also plans to purse LEED certification for the five office and residential buildings. The standard for environment-friendly building is not only good for the earth, says D’Arelli, it’s good for business as well. “As more tenants and occupants seek green buildings because they offer a host of efficiencies and human health benefits compared to traditional buildings, and green building becomes the norm in years to come,” he says, “having a LEED certified building reduces obsolescence risk because it will allow the owners to compete with other green building products developed in the marketplace.” With the first phase of construction expected to begin in 12 months, the developers are currently evaluating which building components are best suited for LEED certification, but, according to D’Arelli, “they will most likely include energy modeling, commissioning, green roof components, recycled material and water management components.”

Redeveloping an existing site into a LEED-certified project presents a number of challenges, but it can also be a beneficial mix of old and new. Debris from demolition and inflexibility of building placement are concerns, D’Arelli says, but the use of an existing site also means that existing infrastructure can be used, and undeveloped natural space can remain pristine, as the major environmental impact has already occurred at the site.

With site plan approval and LEED certification still on the horizon, developers are confident that 321 North will be a success for Plantation. “The owners are committed to the process and have assembled a dedicated and experienced team of design and other professionals to carry out the vision,” D’Arelli says. “It will be a collaborative effort and the entire team is excited about putting Plantation on the map with this large scale green redevelopment project.”

North Hills Tower One
Raleigh, North Carolina

The redevelopment of Raleigh’s North Hills community has proven successful, giving Raleigh a viable Midtown district. It’s been so successful, in fact, that it’s gaining a new addition to satisfy the demand of businesses who want to operate in the area —North Hills Tower One, a 20-story office tower. “Adding an office tower is a need to this area,” says Mike Smith, president and COO of Kane Realty Corporation, which has partnered with Duke Realty Corporation on the North Hills project. “North Hills’ existing office space is 100 percent leased, and people continue to call daily wanting to move their offices here.”

Duke and Kane’s solution to this demand is North Hills Tower One, which will house 250,000 square feet of office space, as well as 25,000 square feet of restaurant and retail space on the first floor. Groundbreaking on the tower at Six Forks Road is set for this fall, and it will be ready for occupancy in the first quarter of 2009. When construction is complete, the 265-foot Tower One will be the tallest building in the area. All told, it will rise 629 feet above sea level, offering spectacular views of the entire Triangle Region landscape. With its unique urban architectural design, the tower itself promises to be a noteworthy addition to the landscape.

In addition to the view, Tower One’s tenants will enjoy upscale shopping and dining in the first-floor restaurant and retail space, as well as the many amenities in the surrounding North Hills community. “This tower will give tenants a true urban location for their company,” Smith says. “Just outside the building’s doors are more than 25 restaurants and cafes, a $3 million athletic club, a four-star hotel, 90 boutiques and shops, a 14-screen cinema and an exquisite environment abundant with landscaping and fountains.”

This range of options in one area is what made a mixed-use tower attractive to Kane. “We are working to create communities where people can live, work and play,” Smith says. “At North Hills, our tenants are able to walk to work in the morning, entertain clients over lunch, pick up groceries on the walk home and host clients for dinner at their choice of excellent restaurants—all in the same community.”  By adding a significant amount of office space—not to mention a building destined to become a local landmark—to the vibrant North Hills community, Tower One will expand the already extensive business and commercial possibilities available to its citizens.

Spanish Fort Town Center
Spanish Fort, Alabama

One major store can put a city on the retail map and turn it into a shopping destination. For Spanish Fort, Alabama, that store is Bass Pro Shops, the centerpiece tenant of the 700,000-square-foot Spanish Fort Town Center, located at the corner of Interstate 10 and Highway 90. Construction began on the center in May, with completion expected in fall 2008. The visitors drawn in by Bass Pro Shops and the other Town Center tenants are expected to be a boon to the economy of both Spanish Fort and southern Alabama.

“Bass Pro Shops is expected to welcome as many as 3 million visitors per year, approximately a third of whom will have traveled more than 50 miles to shop at the store,” says Jeca Salas, Advertising/PR manager for Staubach Retail, whose development affiliate Cypress Equities is developing the property.           

Visitors to Spanish Fort Town Center will also find a number of other retail outlets, including a 98,840-square-foot JC Penney, a 95,971-square-foot Kohl’s, a 20,331-square-foot Circuit City, as well as family restaurants and two or three auto dealerships. An upscale 150-room hotel will house those who wish to stay in Spanish Fort to enjoy the area’s recreational activities.

The plan for Spanish Fort Town Center is not just to serve and entertain visitors; it is also to make the Center an integral part of the Spanish Fort community, and to use the influx of visitors attracted by Bass Pro Shops to benefit that community. The center will include a 240-unit apartment complex, making it as much a local residential community as much as a commercial destination. And upon stabilization, Spanish Fort Town Center will produce a number of local economic benefits. It will create 1,150 new jobs and generate millions of dollars in incremental tax revenue: an estimated $3.2 million for the city, $1.3 million for the county, $4 million for the school board, and $11 million for the state in sales tax, and ad valorem taxes of $180,000 for the City, $285,000 for the county, $360,000 for the school board, and $195,000 for the state. In addition, Spanish Fort Town Center is contributing a $920,000 fire truck to the City, $1 million for the Spanish Fort High School football stadium, and $650,000 for City Hall improvements. By serving both the local community and the larger region, Spanish Fort Town Center promises to be a retail force in southern Alabama for years to come.


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