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Banking on a bridge
Connecting planned shopping areas could be key to retail transformation
By Steve Cannon and
Samantha Thompson Smith
Staff Writers
APEX -
A bridge over U.S. 64
could be the missing link for developers working to create one of the
largest open-air retail centers in the Triangle.
First Carolina Properties of Cary and Developers Diversified Realty of
Cleveland say the 400-foot long bridge would join planned developments on
the north and south sides of the highway and make possible more than 1
million square feet of stores, as well as residential and office space.
Assembling enough land for a large shopping center and finding road access
to sites in what has become a densely developed part of western Wake
County has frustrated builders for years. The proposed bridge and other
future road improvements, including an interchange with Interstate 540,
could help transform the area into a retail destination rivaling the size
of Cary's Crossroads.
"The bridge is one piece of the puzzle," said Connell
Radcliff, president of 1st Carolina Properties. "The intent of all of this
planning is to create a road infrastructure that will support this
development."
Developers Diversified has been working on the Beaver
Creek Commons shopping center for three years at the southwest corner of
U.S. 64 and N.C. 55. On the north side of U.S. 64, Radcliff has been
seeking Apex approval for a similar, but smaller, project.
But Apex planners were concerned that shoppers trying
to access stores on both sides of U.S. 64 would contribute to congestion
on N.C. 55. So the planners recommended a bridge to keep shoppers off the
two highways.
"Today, there's one access point to Beaver Creek
Commons, off N.C. 55," Radcliff said. "With this plan, you've got six
access points to the development."
Developers Diversified is building the first store in
Beaver Creek Commons -- a 175,000-square-foot Super Target on the
southwest side of U.S. 64 and N.C. 55. Construction of a Lowe's Home
Improvement, OfficeMax, Petsmart and other shops will soon follow, putting
about 400,000 square feet of shopping on 83 acres.
Radcliff and Developers Diversified have formed a
joint venture to develop an adjacent 130 acres in a project called Beaver
Creek Crossing. In marketing material to retail chains, the partners say
they aim to build 268,000 square feet of stores on the north side and
389,000 on the south side, as well as 24.5 acres of residential
development.
The marketing material also says the project will
draw shoppers from a seven-mile radius, bringing it to the doorstep of
Crossroads Plaza. The partners hope to take advantage of the opening of an
I-540 interchange nearby and the widening of N.C. 55 to a four-lane
highway in three years.
The town of Apex is considering road improvements in
the area that will include the bridge and additional access to U.S. 64
from Kelly Road -- west of proposed development -- and Green Level Church
Road, which fronts the north side of the planned center.
The town is conducting a traffic study to determine
how many lanes the bridge should have. Building the bridge, which the
developers would be responsible for, is expected to cost between $1
million and $3 million.
Apex planning director David Rowland said the bridge
might not be built at the same time as the stores, but that a link for the
shopping center would be necessary for town approval.
"The bridge is an integral part of the shopping
center's success," Rowland said. "That way, people will not have to go
back into traffic to get from stores on one side to the other."
Some of the stiffest resistance to building at N.C.
55 and U.S. 64 has come from residents in recently-built subdivisions who
say the roads in Apex can't handle any more traffic. Both developers are
hoping the bridge and other road improvements will clear the way for large
retailers who want to be in the area.
In the late 1980s, development of Crossroads Plaza
followed a similarly difficult path. Despite the center's location at
U.S.1/64 and Interstate 40, shoppers' access to the center was
constricted. Some homeowners in the area held out to extract the highest
price for their property.
And the Apex plan still faces many hurdles, including
town zoning and site plan approval, annexation of land on the south side
of road by the town and final approval of the bridge design from the state
Department of Transportation.
While the final size of the project depends on how
many stores are willing to set up shop there, developers are betting that
will be the easy part.
"It is the
place to be for stores in that market," said Scott Schroeder, spokesman
for Developers Diversified. "The addition of the roads is creating a new
focal point in the area."
Staff writer Steve Cannon can be reached at
829-8917 or
scannon@newsobserver.com. |
