SlideShare una empresa de Scribd logo
1 de 124
Descargar para leer sin conexión
Welcome!
Aaron Nelson
President & CEO
Chapel Hill-Carrboro Chamber of Commerce
Thank you, briefing sponsors!
René Hendrickson Real Estate
Join the Conversation
@carolinachamber
#SpacesPlaces
Our Presenting Sponsor
Our Breakfast Sponsor
Our Q&A Sponsor
Our Community Supporter
René Hendrickson
Real Estate
Thank you to our 2016 Major Investors!
Community Champions
Thank you to our 2016 Major Investors!
Community Investors
Thank you to our 2016 Major Investors!
Platinum Sponsors
Thank you to our 2016 Major Investors!
Platinum Sponsors
Thank you to our 2016 Major Investors!
Gold Sponsors
Thank you to our 2016 Major Investors!
Gold Sponsors
Thank you to our 2016 Major Investors!
Gold Sponsors
Dwight Bassett
Economic Development Officer
Town of Chapel Hill
___
___
Dwight Bassett,
Economic Development Officer
[share info…]
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
“No man ever steps in the same river twice, for it's
not the same river and he's not the same man.
You could not step twice into the same rivers; for
other waters are ever flowing on to you.”
Heraclitus
___
Approved
___
Carolina Square
> 300 Residential Units
> 159,000 SF Office
> 55,000 SF Retail
Glen Lennox
> 1,500 Residential Units
> 600,000 SF Office
> 150,000 SF Retail
> 150 Hotel rooms
South Creek
> 600 Residential Units
> 600,000 SF Office/Civic
> 475,000 SF Retail
> 130 Hotel rooms
Ephesus-
Church/Fordham
> 1,000 +/- Residential Units
> 350,000 +/- SF Office
> 250,000 +/- SF Retail
> 150 +/- Hotel rooms
Carraway Village
(Eubanks Road)
> 400 Residential Units
> 100,000 SF Office
> 120,000 SF Retail
> 150+/- Hotel rooms
Hotel
Mixed-use
Mixed-use
Residential
415 W Franklin
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
___
Commercial Development Strategy
___
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
MISSION: Support opportunities to put Chapel
Hill’s people to work, and create economic
prosperity for all, now and in the future.
TARGETS: Output of Medical School, Pharmacy
School (and research), Applied Sciences and
Technology
Spaces & Places: 2016 Regional Development Briefing
1) Strengthen the Town-Gown Relationship
2) Work becomes part of The Life of The Town
3) Tell our Story
1) Strengthen the Town-Gown Relationship
For 200 years, this has been the place people go to
college and then leave. The downtown has
become a place to dine, but not to shop or work.
The town and the university need to coordinate
their growth, so that this becomes one lively and
diverse place.
2) Work becomes part of The Life of The Town
People want to start companies here, but there is
not enough room for them to grow, especially
downtown, where they can walk to coffee. Skilled
and creative people need not only offices and
labs to design and make things, but workshops and
studios as well.
3) Tell our Story
The name “Chapel Hill” is nationally recognized. To
locals, this is still “The Village”, with stone
walls and the shade of stately trees that beckon for
conversation. It offers something different
than Boulder, Berkeley or Cambridge. For the post-
doc looking to settle down, this can be their
new hometown.
For Pride: Chapel Hill is nationally recognized as an
intellectual center, but it lacks the local jobs and
business that translate new ideas into new products
and services that have impact on the world.
For Prosperity: More jobs and business will create
community wealth and build the tax base.
For People: Recent graduates will be able to start
their careers and families here, filling out
the middle of the generations.
Spaces & Places: 2016 Regional Development Briefing
___
Market conditions
Office – 8-9% +/- vacancy
(approximate 2.4 million SF)
Retail – 6% +/-vacancy
(approximate 2. million SF)
___
Room for growth!
___
Marketing
___
Follow us @CHEconDev
Tell our Story![ ]
Tell our Story![ ]
___
Market Demand
Office
> In walkable environment
> Changing the regional development
perspective of Chapel Hill
> Up to 1,000,000 SF of demand
Retail
>To meet growing demand of existing
businesses
> To capture more of our own demand
(up to 1,000,000 SF by 2020)
___
___
___
Mark Zimmerman
Owner
RE/MAX Winning Edge
Places and Spaces
The Residential Real Estate Market
August 25, 2016
Mark Zimmerman
Broker/Owner - RE/MAX Winning Edge
Please note:
All data from Triangle Multiple Listing Service &
10K Research and Marketing
All data through July, 2016
County review, not cities
Focused on single family detached
Not multi-family (townhouse/condo)
No rentals/apartments
2016 - The Year that Just Keeps Giving
2016 builds on 2015 success
Momentum continues through 2nd quarter
Reaching or surpassing historic highs
Closed Sales Continue Steady Climb
YTD July:
● Orange
○ +9.0%
● Chatham
○ +9.0%
● Durham
○ +9.2%
Closed Sales - Closing in on Historic Peaks
2016 - The Year that Just Keeps Giving
Shortage of listings
Particularly in Durham
Multiple offers
Lower inventory at all price points
Month’s Supply of Homes for Sale
July:
● Orange
○ 4.6 months
○ -27.0%
● Chatham
○ 5.4 months
○ -8.5%
● Durham
○ 2.1 months
○ -27.6%
Month’s Supply by Price Point - Orange
July:
● $459,000+
○ 7.3 months
○ -33.0%
● $290,000 - $459,000
○ 3.1 months
○ -43.6%
● $179,000 - $289,000
○ 2.8 months
○ -30.0%
Month’s Supply by Price Point - Chatham
July:
● $475,000+
○ 11.3 months
○ -4.2%
● $325,000 - $475,000
○ 4.3 months
○ -10.4%
● $204,000 - $325,000
○ 1.7 months
○ -52.8%
Month’s Supply by Price Point - Durham
July:
● $246,000+
○ 3.3 months
○ -19.5%
● $175,000 - $246,000
○ 1.5 months
○ -25.0%
● $125,000 - $174,000
○ 1.3 months
○ -45.8%
2016 - The Year that Just Keeps Giving
Limited Supply + High Demand =
Increasing prices
It’s a Seller’s Market
Frustrated Buyers
Orange reaches milestone
Chatham & Durham = more price value
Average Sales Price
12 months thru July:
● Orange
○ $401,063
○ +5.2%
● Chatham
○ $393,573
○ +8.1%
● Durham
○ $245,470
○ +8.7%
Average Sales Price per Square Foot
12 months thru July:
● Orange
○ $155
○ +4.7%
● Chatham
○ $143
○ +5.9%
● Durham
○ $117
○ +9.3%
2016 - How has Market Reacted?
Durham & Chatham adding new homes
Orange living off existing homes
New construction helps keep older home
prices more affordable
New Construction Listings
12 months thru July:
● Orange
○ 177
○ +9.6%
● Chatham
○ 588
○ +15.7%
● Durham
○ 600
○ +42.5%
New vs Resale - Price per Square Foot
12 months thru July:
● Orange
○ $160 vs $154
○ -3.7%
● Chatham
○ $151 vs $137
○ -9.2%
● Durham
○ $142 vs $113
○ -20.4%
2016 - The Year that Just Keeps Giving
Sales up
Inventory down
Prices up
Chatham & Durham responding to demand
Orange staying the course
Kyle Touchstone
President
Chatham Economic Development Corporation
Chatham County
SPACES & PLACES: 2016 REGIONAL GROWTH
AND DEVELOPMENT BRIEFING
Chatham County
• Overview
• Governors Village
• 15-501 Corridor
• Briar Chapel & Veranda
• Chatham Park
• Pittsboro
Spaces & Places: 2016 Regional Development Briefing
Overview
SPACES & PLACES: 2016 REGIONAL GROWTH
AND DEVELOPMENT BRIEFING
Who We Are
Kyle Touchstone
President
Jamie Vaughn
Vice President
Ben Townsend
Business Services
Manager
Alyssa Byrd
Communications
Specialist
About Us
Chatham Economic Development
Corporation (EDC) is the lead economic
development agency for Chatham County.
The EDC is a 501(c)3 economic
development non-profit that provides
support to businesses throughout the county
and markets Chatham County as the
preferred location for emerging growth
companies.
Economic Indicators
• Population: 70,928 (July 2015)
◦ Fastest growing between
2014-2015
• Labor Force: 33,331 (June
2016)
• Jobs: 14,179 (Q1 2016)
• Unemployment: 4.4% (June
2016)
◦ 4th lowest in NC
• Average Weekly Wage:
$643.27 (Q1 2016)
◦ State Average: $927.78
Population Growth 2010-
2015
13.7%
11.7% 11.5%
5.7%
Wake Chatham Durham Orange
Governors Village
SPACES & PLACES: 2016 REGIONAL GROWTH AND
DEVELOPMENT BRIEFING
The Commons at
Governors Village
The Bold Building
15-501 Corridor
SPACES & PLACES: 2016 REGIONAL GROWTH AND
DEVELOPMENT BRIEFING
ExtraSpace Storage
2015 2016
North Chatham Village
2011
2015 2016
Formerly Cole Park Pl
North Chatham Village
2015 2016
North Chatham Village
2015 2016
2011
Polks Village
Briar Chapel &
Veranda
SPACES & PLACES: 2016 REGIONAL GROWTH AND
DEVELOPMENT BRIEFING
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Chatham Park
SPACES & PLACES: 2016 REGIONAL GROWTH AND
DEVELOPMENT BRIEFING
• 7,100+ acre mixed-use
development
• 22,000 residential units
(60,000 people)
• 22 million square feet of
non-residential
development
◦ Targeted businesses:
Technology, biotech, clean
tech, and medicine
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
Bellemont Station
2015 2016
Bellemont Pointe
Photo: Town of Pittsboro
2015 2016
Chatham County Agriculture
and Conference Center
Connect
Kyle Touchstone
President, Chatham EDC
ktouchstone@chathamedc.
org
919-542-8274
www.chathamedc.org
Laurie Paolicelli
Executive Director
Chapel Hill/Orange County Visitors Bureau
Spaces & Places
Orange County Travel and Tourism
August 2016
Name City Rooms Open Date
Holiday Inn Express Hillsborough 83 April 1997
Microtel Inn & Suites by Hillsborough 70 May 2000
Hampton Inn & Suites Carrboro 142 August 2013
Autograph Collection The Siena Hotel Chapel Hill 79 October 1987
University Inn Chapel Hill 132 June 1966
Days Inn Chapel Hill 50 January 1999
Quality Inn Chapel Hill 119 January 1987
Residence Inn Chapel Hill 108 January 2007
Curio Collection Franklin Hotel Chapel Hill 67 January 2007
The Carolina Inn Chapel Hill 185 June 1924
Aloft Hotel Chapel Hill 130 April 2010
Courtyard Chapel Hill 169 September 2004
Sheraton Chapel Hill 168 June 1980
TOTAL: 13 Hotels 1502
Spaces & Places: 2016 Regional Development Briefing
358 new rooms (21% increase in supply)
Hyatt Place 110 Rooms Chapel Hill 5 Stories
AC By Marriot 123 Rooms Chapel Hill 4 stories
Hilton Garden Inn 125 Room
10,000 sq. feet
meeting space
Carrboro 5 stories
Spaces & Places: 2016 Regional Development Briefing
HiltonGardenInnCarrboro
Open Date:
2nd Quarter
2019
10,000 sq. feet
meeting space
150 rooms
Spaces & Places: 2016 Regional Development Briefing
Spaces & Places: 2016 Regional Development Briefing
ACByMarriott
214 Rosemary
Open Date:
October 2017
Excavation complete
November 2016
AC by Marriott Rosemary Street
Spaces & Places: 2016 Regional Development Briefing
HyattPlaceSouthernVillage
110-room hotel
1,700 square feet
of meeting space
1,680 square foot
third-floor outdoor
function space.
Spaces & Places: 2016 Regional Development Briefing
Hillsborough
• Sportsplex:
• Sportsplex hosted 553,000 people in 2015.
• Consistently ranks in top 5 visitor destinations
• Opportunity for overnight accommodations
• Near growing Hillsborough assets
• SOCCER:
• Soccer.com has 5 full size fields that can be
reconfigured for many more smaller fields for
younger teams.
• OC may be adding anywhere from 2-4 new fields
(two if they are synthetic turf, four if they are not).
•
Spaces & Places: 2016 Regional Development Briefing
Why Hotel Investment Here?
• A typical hotel investor, when evaluating this market, looks for both
specific property and comp set evidence of hotel performance
levels approximating the following:
• Full service hotels:
Occupancy: 70% or higher
ADR: $150 or higher
RevPAR: $105 or higher
•
Select/focused service hotels:
Occupancy: 70% or higher
ADR: $115 or higher
• RevPAR: $80 or higher
• RevPAR is the key indicator here.
Orange County Tourism Focus
• The entry of these new rooms coupled with
slower growth on the demand side will continue
to create a relatively uncertain transient market
landscape during 2017 as the market continues
to absorb the new inventory.
• The focus of the Chapel Hill/Orange County
Visitors Bureau is two-fold:
▫ Marketing the assets of our communities
▫ Feasibility study to look at new demand
generators
Durham and Wake Counties
• Durham currently has 8,712 hotel rooms--21%
growth in supply in 2017 to 9,135 rooms.
• Wake County has 15,500 hotel rooms and will see
11% growth in 2017 to 17,601 rooms.
• Durham:
• November 2014 the 128-room Hilton Garden Inn
at Medical Center opened, followed by 125-room
21c Museum Hotel & 54-room Durham Hotel.
• Starwood opened the 134-room Aloft Hotel at
DPAC and Marriott opened the 147-room all
suites Residence Inn McPherson/Medical Center.
• In addition to these 588 new rooms, the following
properties will add an additional 423 rooms.
▫ JB Duke Hotel (January 2017) 198 rooms
▫ Graduate Hotel (Spring 2017) 150 rooms
▫ Unscripted Hotel (April 2017) 75 rooms
Economic Development Panelists
Dwight Bassett
Economic Development Officer
Town of Chapel Hill
Steve Brantley
Director of Economic
Development
Orange County
Annette Stone
Econ. & Community Development
Director
Town of Carrboro
Kyle Touchstone
President & CEO
Chatham Economic Development
Corporation
Upcoming Events
Face Time
Sept. 15, 5:30-7:30 p.m.
Rizzo Conference Center
Performance Golf Classic
Oct. 10, 8:30 a.m.-5 p.m.
Chapel Hill Country Club
Economic Outlook Briefing
Oct. 20, 8-10 a.m.
Sheraton Chapel Hill Hotel
PRIMETIME Business Expo
Nov. 10,
UNC Friday Center
www.carolinachamber.org/events
Explore the latest local, state and national trends in our economy. Visit
carolinachamber.org/events for more information!
Economic Outlook Briefing
7:30-9:30 a.m., Thursday, Oct. 20 at the Sheraton Chapel Hill

Más contenido relacionado

La actualidad más candente

Chamber of Commerce Newsletter
Chamber of Commerce Newsletter Chamber of Commerce Newsletter
Chamber of Commerce Newsletter Dr. Asa Don Brown
 
press release proof 1 Hickory Living update
press release proof 1 Hickory Living updatepress release proof 1 Hickory Living update
press release proof 1 Hickory Living updateAshley High Stevenson
 
12.5.23 hispanic chamber cincinnati e newsletter diversity ranking
12.5.23 hispanic chamber cincinnati e newsletter   diversity ranking12.5.23 hispanic chamber cincinnati e newsletter   diversity ranking
12.5.23 hispanic chamber cincinnati e newsletter diversity rankinghmhollingsworth
 
2013 Guelph Community Santa Parade Sponsorship Package
2013 Guelph Community Santa Parade Sponsorship Package2013 Guelph Community Santa Parade Sponsorship Package
2013 Guelph Community Santa Parade Sponsorship Packagepfthurley
 
Msm retreat 2011
Msm retreat 2011Msm retreat 2011
Msm retreat 2011Lisa Wogan
 
Fitzgerald Strategic Marketing Platform - 2011
Fitzgerald Strategic Marketing Platform - 2011Fitzgerald Strategic Marketing Platform - 2011
Fitzgerald Strategic Marketing Platform - 2011John Beatty
 
2014 Annual Report_Edit08
2014 Annual Report_Edit082014 Annual Report_Edit08
2014 Annual Report_Edit08Haley Thannum
 
Santa clara city library crra presentation 8-4-2014
Santa clara city library   crra presentation 8-4-2014Santa clara city library   crra presentation 8-4-2014
Santa clara city library crra presentation 8-4-2014lcherylc
 
Hiding In Plain Sight - Identifying the Major Donors On Your Donor List
Hiding In Plain Sight - Identifying the Major Donors On Your Donor ListHiding In Plain Sight - Identifying the Major Donors On Your Donor List
Hiding In Plain Sight - Identifying the Major Donors On Your Donor ListBloomerang
 
Spector Newsletter - Matza
Spector Newsletter - MatzaSpector Newsletter - Matza
Spector Newsletter - MatzaMarlon Matza
 

La actualidad más candente (17)

Chamber of Commerce Newsletter
Chamber of Commerce Newsletter Chamber of Commerce Newsletter
Chamber of Commerce Newsletter
 
press release proof 1 Hickory Living update
press release proof 1 Hickory Living updatepress release proof 1 Hickory Living update
press release proof 1 Hickory Living update
 
VSC Presentation
VSC PresentationVSC Presentation
VSC Presentation
 
12.5.23 hispanic chamber cincinnati e newsletter diversity ranking
12.5.23 hispanic chamber cincinnati e newsletter   diversity ranking12.5.23 hispanic chamber cincinnati e newsletter   diversity ranking
12.5.23 hispanic chamber cincinnati e newsletter diversity ranking
 
2013 Guelph Community Santa Parade Sponsorship Package
2013 Guelph Community Santa Parade Sponsorship Package2013 Guelph Community Santa Parade Sponsorship Package
2013 Guelph Community Santa Parade Sponsorship Package
 
Msm retreat 2011
Msm retreat 2011Msm retreat 2011
Msm retreat 2011
 
Fitzgerald Strategic Marketing Platform - 2011
Fitzgerald Strategic Marketing Platform - 2011Fitzgerald Strategic Marketing Platform - 2011
Fitzgerald Strategic Marketing Platform - 2011
 
2014 Annual Report_Edit08
2014 Annual Report_Edit082014 Annual Report_Edit08
2014 Annual Report_Edit08
 
Star 1310 c
Star 1310 cStar 1310 c
Star 1310 c
 
wbc_sbs_booklet_FINAL
wbc_sbs_booklet_FINALwbc_sbs_booklet_FINAL
wbc_sbs_booklet_FINAL
 
Brochure - Asian Pacific Islander Public Affairs - Capital Campaign
Brochure - Asian Pacific Islander Public Affairs - Capital Campaign Brochure - Asian Pacific Islander Public Affairs - Capital Campaign
Brochure - Asian Pacific Islander Public Affairs - Capital Campaign
 
Santa clara city library crra presentation 8-4-2014
Santa clara city library   crra presentation 8-4-2014Santa clara city library   crra presentation 8-4-2014
Santa clara city library crra presentation 8-4-2014
 
Hiding In Plain Sight - Identifying the Major Donors On Your Donor List
Hiding In Plain Sight - Identifying the Major Donors On Your Donor ListHiding In Plain Sight - Identifying the Major Donors On Your Donor List
Hiding In Plain Sight - Identifying the Major Donors On Your Donor List
 
Energize the Village WOW! Market Presentation
Energize the Village WOW! Market PresentationEnergize the Village WOW! Market Presentation
Energize the Village WOW! Market Presentation
 
Cyfendvd
CyfendvdCyfendvd
Cyfendvd
 
Spector Newsletter - Matza
Spector Newsletter - MatzaSpector Newsletter - Matza
Spector Newsletter - Matza
 
Q.C.S.C. pitch deck
Q.C.S.C. pitch deckQ.C.S.C. pitch deck
Q.C.S.C. pitch deck
 

Destacado

Destacado (20)

Employer Needs Survey - Preliminary Results
Employer Needs Survey - Preliminary Results Employer Needs Survey - Preliminary Results
Employer Needs Survey - Preliminary Results
 
Updates from the Chapel Hill Downtown Partnership
Updates from the Chapel Hill Downtown PartnershipUpdates from the Chapel Hill Downtown Partnership
Updates from the Chapel Hill Downtown Partnership
 
Chapel Hill Transit Strategic and Financial Plan Update
Chapel Hill Transit Strategic and Financial Plan Update Chapel Hill Transit Strategic and Financial Plan Update
Chapel Hill Transit Strategic and Financial Plan Update
 
2014 Inter-City Visit Reunion
2014 Inter-City Visit Reunion2014 Inter-City Visit Reunion
2014 Inter-City Visit Reunion
 
NC Work Ready Communities
NC Work Ready CommunitiesNC Work Ready Communities
NC Work Ready Communities
 
Update on Obey Creek
Update on Obey CreekUpdate on Obey Creek
Update on Obey Creek
 
Post-Election Briefing from the NC FreeEnterprise Foundation
Post-Election Briefing from the NC FreeEnterprise Foundation Post-Election Briefing from the NC FreeEnterprise Foundation
Post-Election Briefing from the NC FreeEnterprise Foundation
 
Navigating Networking for CHYP
Navigating Networking for CHYPNavigating Networking for CHYP
Navigating Networking for CHYP
 
Innovative Practices for Engaging Students in Our Communities
Innovative Practices for Engaging Students in Our CommunitiesInnovative Practices for Engaging Students in Our Communities
Innovative Practices for Engaging Students in Our Communities
 
NC Chamber Political & Legislative Update
NC Chamber Political & Legislative UpdateNC Chamber Political & Legislative Update
NC Chamber Political & Legislative Update
 
Boulder Housing Partners
Boulder Housing Partners Boulder Housing Partners
Boulder Housing Partners
 
2016 Inter-City Visit Orientation
2016 Inter-City Visit Orientation2016 Inter-City Visit Orientation
2016 Inter-City Visit Orientation
 
NCACC Sales Tax Summary
NCACC Sales Tax Summary NCACC Sales Tax Summary
NCACC Sales Tax Summary
 
EDPP Legislative Update by Jeremy Browner
EDPP Legislative Update by Jeremy BrownerEDPP Legislative Update by Jeremy Browner
EDPP Legislative Update by Jeremy Browner
 
Downtown Boulder
Downtown BoulderDowntown Boulder
Downtown Boulder
 
GoTriangle Update on DOLRT Project
GoTriangle Update on DOLRT ProjectGoTriangle Update on DOLRT Project
GoTriangle Update on DOLRT Project
 
2016 Economic Outlook Briefing with Dr. Harry Davis
2016 Economic Outlook Briefing with Dr. Harry Davis2016 Economic Outlook Briefing with Dr. Harry Davis
2016 Economic Outlook Briefing with Dr. Harry Davis
 
NC FreeEnterprise Foundation Presentation on 2016 Election
NC FreeEnterprise Foundation Presentation on 2016 ElectionNC FreeEnterprise Foundation Presentation on 2016 Election
NC FreeEnterprise Foundation Presentation on 2016 Election
 
City of Boulder Division of Housing
City of Boulder Division of Housing City of Boulder Division of Housing
City of Boulder Division of Housing
 
Update from Regional Transportation Alliance
Update from Regional Transportation AllianceUpdate from Regional Transportation Alliance
Update from Regional Transportation Alliance
 

Similar a Spaces & Places: 2016 Regional Development Briefing

493 Presentation
493 Presentation493 Presentation
493 PresentationKeith Arky
 
Shining cities on a hill or lights under a bushel
Shining cities on a hill or lights under a bushelShining cities on a hill or lights under a bushel
Shining cities on a hill or lights under a bushelgreaterohio
 
Historic West End Initiative - November 2017 Community Meeting
Historic West End Initiative - November 2017 Community Meeting Historic West End Initiative - November 2017 Community Meeting
Historic West End Initiative - November 2017 Community Meeting Alysia Osborne, AICP
 
2018 Economic Summit for OCHAR members
2018 Economic Summit for OCHAR members2018 Economic Summit for OCHAR members
2018 Economic Summit for OCHAR membersCub Berrian
 
HOB Presentation to Brevard City Council
HOB Presentation to Brevard City CouncilHOB Presentation to Brevard City Council
HOB Presentation to Brevard City CouncilLeigh Trapp
 
Economic Development & Tourism
Economic Development & TourismEconomic Development & Tourism
Economic Development & TourismCity of Owen Sound
 
2015 DCA Q1 Market Update
2015 DCA Q1 Market Update2015 DCA Q1 Market Update
2015 DCA Q1 Market UpdateJoe Marinucci
 
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...Metropolitan Area Planning Council
 
Halifax Multi Residential Market Q1 2017
Halifax Multi Residential Market Q1 2017Halifax Multi Residential Market Q1 2017
Halifax Multi Residential Market Q1 2017Andrew Cranmer
 

Similar a Spaces & Places: 2016 Regional Development Briefing (20)

2015 Orange County Development Briefing
2015 Orange County Development Briefing2015 Orange County Development Briefing
2015 Orange County Development Briefing
 
2013 Orange-Chatham Development Briefing
2013 Orange-Chatham Development Briefing2013 Orange-Chatham Development Briefing
2013 Orange-Chatham Development Briefing
 
493 Presentation
493 Presentation493 Presentation
493 Presentation
 
Shining cities on a hill or lights under a bushel
Shining cities on a hill or lights under a bushelShining cities on a hill or lights under a bushel
Shining cities on a hill or lights under a bushel
 
Orange County Development Briefing
Orange County Development BriefingOrange County Development Briefing
Orange County Development Briefing
 
2014 CEO Summit
2014 CEO Summit2014 CEO Summit
2014 CEO Summit
 
Historic West End Initiative - November 2017 Community Meeting
Historic West End Initiative - November 2017 Community Meeting Historic West End Initiative - November 2017 Community Meeting
Historic West End Initiative - November 2017 Community Meeting
 
2018 Economic Summit for OCHAR members
2018 Economic Summit for OCHAR members2018 Economic Summit for OCHAR members
2018 Economic Summit for OCHAR members
 
HOB Presentation to Brevard City Council
HOB Presentation to Brevard City CouncilHOB Presentation to Brevard City Council
HOB Presentation to Brevard City Council
 
Town of Chapel Hill Fiscal Conditions Report
Town of Chapel Hill Fiscal Conditions ReportTown of Chapel Hill Fiscal Conditions Report
Town of Chapel Hill Fiscal Conditions Report
 
My marketing portfolio
My marketing portfolio My marketing portfolio
My marketing portfolio
 
Economic Development & Tourism
Economic Development & TourismEconomic Development & Tourism
Economic Development & Tourism
 
2015 DCA Q1 Market Update
2015 DCA Q1 Market Update2015 DCA Q1 Market Update
2015 DCA Q1 Market Update
 
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...
Boxborough 2030 Economic Development Existing Conditions Presentation, Februa...
 
2021 Critical Issues Series: Regional Economic Development Forum
2021 Critical Issues Series: Regional Economic Development Forum2021 Critical Issues Series: Regional Economic Development Forum
2021 Critical Issues Series: Regional Economic Development Forum
 
WCRE Profile / Listings / Sales & Leases / January 2020
WCRE Profile / Listings / Sales & Leases / January 2020WCRE Profile / Listings / Sales & Leases / January 2020
WCRE Profile / Listings / Sales & Leases / January 2020
 
2015 Chapel Hill-Carrboro Chamber of Commerce Annual Meeting
2015 Chapel Hill-Carrboro Chamber of Commerce Annual Meeting 2015 Chapel Hill-Carrboro Chamber of Commerce Annual Meeting
2015 Chapel Hill-Carrboro Chamber of Commerce Annual Meeting
 
Plan b webinar (2)
Plan b webinar (2)Plan b webinar (2)
Plan b webinar (2)
 
the Space
the Spacethe Space
the Space
 
Halifax Multi Residential Market Q1 2017
Halifax Multi Residential Market Q1 2017Halifax Multi Residential Market Q1 2017
Halifax Multi Residential Market Q1 2017
 

Más de The Chamber For a Greater Chapel Hill-Carrboro

Más de The Chamber For a Greater Chapel Hill-Carrboro (20)

2024 Economic Forecast Forum Presentation
2024 Economic Forecast Forum Presentation2024 Economic Forecast Forum Presentation
2024 Economic Forecast Forum Presentation
 
Leadership 2023, Session 4, Parliamentary Procedures and Roberts Rules
Leadership 2023, Session 4, Parliamentary Procedures and Roberts RulesLeadership 2023, Session 4, Parliamentary Procedures and Roberts Rules
Leadership 2023, Session 4, Parliamentary Procedures and Roberts Rules
 
Leadership 2023, Session 4, 101 on Community Health and Human Services
Leadership 2023, Session 4, 101 on Community Health and Human ServicesLeadership 2023, Session 4, 101 on Community Health and Human Services
Leadership 2023, Session 4, 101 on Community Health and Human Services
 
Leadership 2023, Session 4 - Homeroom
Leadership 2023, Session 4 - HomeroomLeadership 2023, Session 4 - Homeroom
Leadership 2023, Session 4 - Homeroom
 
Leadership 2023, Session 3 - History, Geography, and Governance
Leadership 2023, Session 3 - History, Geography, and GovernanceLeadership 2023, Session 3 - History, Geography, and Governance
Leadership 2023, Session 3 - History, Geography, and Governance
 
2023 Critical Issues Series: Economic Development Forum
2023 Critical Issues Series: Economic Development Forum2023 Critical Issues Series: Economic Development Forum
2023 Critical Issues Series: Economic Development Forum
 
Leadership Chapel Hill-Carrboro Virtual Information Session
Leadership Chapel Hill-Carrboro Virtual Information SessionLeadership Chapel Hill-Carrboro Virtual Information Session
Leadership Chapel Hill-Carrboro Virtual Information Session
 
2023 Critical Issues Series: The Economic Outlook Forum
2023 Critical Issues Series: The Economic Outlook Forum2023 Critical Issues Series: The Economic Outlook Forum
2023 Critical Issues Series: The Economic Outlook Forum
 
Summer Careers Academy Employer Information Session (2nd of 2)
Summer Careers Academy Employer Information Session (2nd of 2)Summer Careers Academy Employer Information Session (2nd of 2)
Summer Careers Academy Employer Information Session (2nd of 2)
 
Presentation for Employer Information Session
Presentation for Employer Information SessionPresentation for Employer Information Session
Presentation for Employer Information Session
 
Critical Issues Series: Legislative Forum
Critical Issues Series: Legislative ForumCritical Issues Series: Legislative Forum
Critical Issues Series: Legislative Forum
 
ICV 2022 Delegation Orientation
ICV 2022 Delegation OrientationICV 2022 Delegation Orientation
ICV 2022 Delegation Orientation
 
2022 Critical Issues Series: The Economic Development Forum Presentations
2022 Critical Issues Series: The Economic Development Forum Presentations2022 Critical Issues Series: The Economic Development Forum Presentations
2022 Critical Issues Series: The Economic Development Forum Presentations
 
Inter-City Visit 2022 Virtual Information Session
Inter-City Visit 2022 Virtual Information SessionInter-City Visit 2022 Virtual Information Session
Inter-City Visit 2022 Virtual Information Session
 
Article 46
Article 46Article 46
Article 46
 
Leadership 2022, Session 9, Homeroom
Leadership 2022, Session 9, HomeroomLeadership 2022, Session 9, Homeroom
Leadership 2022, Session 9, Homeroom
 
Leadership 2022 101 on Safety and Equity
Leadership 2022 101 on Safety and EquityLeadership 2022 101 on Safety and Equity
Leadership 2022 101 on Safety and Equity
 
Presentation for Leadership 2022 by Dispute Settlement Center
Presentation for Leadership 2022 by Dispute Settlement CenterPresentation for Leadership 2022 by Dispute Settlement Center
Presentation for Leadership 2022 by Dispute Settlement Center
 
Leadership 2022, Session 8, 101 on Economic and Community Development
Leadership 2022, Session 8, 101 on Economic and Community DevelopmentLeadership 2022, Session 8, 101 on Economic and Community Development
Leadership 2022, Session 8, 101 on Economic and Community Development
 
Leadership 2022 Session 6 - Homeroom
Leadership 2022 Session 6 - HomeroomLeadership 2022 Session 6 - Homeroom
Leadership 2022 Session 6 - Homeroom
 

Último

Listing Turkey - yooIstanbul Besiktas Istanbul
Listing Turkey - yooIstanbul Besiktas IstanbulListing Turkey - yooIstanbul Besiktas Istanbul
Listing Turkey - yooIstanbul Besiktas IstanbulListing Turkey
 
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedLCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedTom Blefko
 
Importance of Pre-Construction Planning in a Construction Project
Importance of Pre-Construction Planning in a Construction ProjectImportance of Pre-Construction Planning in a Construction Project
Importance of Pre-Construction Planning in a Construction ProjectSkaia Architecture & Construction
 
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...RE/MAX Realty Solutions
 
Signature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy LivingSignature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy Livingbhattrishabh270
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfsabhyara24
 
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink LuxuryMantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxuryaidasheikh47
 
2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE PracticeTom Blefko
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedTom Blefko
 
Lodha Giardino Kharadi Pune Brochure.pdf
Lodha Giardino Kharadi Pune Brochure.pdfLodha Giardino Kharadi Pune Brochure.pdf
Lodha Giardino Kharadi Pune Brochure.pdfsabhyara24
 
Presentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxPresentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxklaudiafilka
 
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Price
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable PriceKalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Price
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Priceaidasheikh47
 
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WI
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WICommercial Lots for Sale - Pederson Crossing Blvd., DeForest,WI
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WILee & Associates of Madison, WI
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN International Corp.
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsAaron Stelle
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedTom Blefko
 
10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property AgentsAJ Estates
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfmonikasharma630
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and SellersTom Blefko
 

Último (20)

Listing Turkey - yooIstanbul Besiktas Istanbul
Listing Turkey - yooIstanbul Besiktas IstanbulListing Turkey - yooIstanbul Besiktas Istanbul
Listing Turkey - yooIstanbul Besiktas Istanbul
 
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedLCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
 
Importance of Pre-Construction Planning in a Construction Project
Importance of Pre-Construction Planning in a Construction ProjectImportance of Pre-Construction Planning in a Construction Project
Importance of Pre-Construction Planning in a Construction Project
 
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...
4 & 5 BHK Spacious Apartments for sale in Anamika High Point, Off SG Highway ...
 
Benefits of buying ready to move in flats.
Benefits of buying ready to move in flats.Benefits of buying ready to move in flats.
Benefits of buying ready to move in flats.
 
Signature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy LivingSignature Global Sector 84 In Gurugram | Easy Living
Signature Global Sector 84 In Gurugram | Easy Living
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
 
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink LuxuryMantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
Mantra Akrudi Pune | Lifestyle Amenities Rethink Luxury
 
2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice2023 NAR Technology Survey - LCAR RE Practice
2023 NAR Technology Survey - LCAR RE Practice
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
 
Lodha Giardino Kharadi Pune Brochure.pdf
Lodha Giardino Kharadi Pune Brochure.pdfLodha Giardino Kharadi Pune Brochure.pdf
Lodha Giardino Kharadi Pune Brochure.pdf
 
Presentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxPresentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptx
 
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Price
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable PriceKalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Price
Kalpataru Jade Skyline Baner Pune | A New Way Of Living At An Affordable Price
 
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WI
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WICommercial Lots for Sale - Pederson Crossing Blvd., DeForest,WI
Commercial Lots for Sale - Pederson Crossing Blvd., DeForest,WI
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property Broadcast
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate Leads
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents10 Best Property Dealers in Mohali - List Real Estate Property Agents
10 Best Property Dealers in Mohali - List Real Estate Property Agents
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers
 

Spaces & Places: 2016 Regional Development Briefing

  • 2. Aaron Nelson President & CEO Chapel Hill-Carrboro Chamber of Commerce
  • 3. Thank you, briefing sponsors! René Hendrickson Real Estate
  • 8. Our Community Supporter René Hendrickson Real Estate
  • 9. Thank you to our 2016 Major Investors! Community Champions
  • 10. Thank you to our 2016 Major Investors! Community Investors
  • 11. Thank you to our 2016 Major Investors! Platinum Sponsors
  • 12. Thank you to our 2016 Major Investors! Platinum Sponsors
  • 13. Thank you to our 2016 Major Investors! Gold Sponsors
  • 14. Thank you to our 2016 Major Investors! Gold Sponsors
  • 15. Thank you to our 2016 Major Investors! Gold Sponsors
  • 16. Dwight Bassett Economic Development Officer Town of Chapel Hill
  • 21. “No man ever steps in the same river twice, for it's not the same river and he's not the same man. You could not step twice into the same rivers; for other waters are ever flowing on to you.” Heraclitus
  • 23. Carolina Square > 300 Residential Units > 159,000 SF Office > 55,000 SF Retail
  • 24. Glen Lennox > 1,500 Residential Units > 600,000 SF Office > 150,000 SF Retail > 150 Hotel rooms
  • 25. South Creek > 600 Residential Units > 600,000 SF Office/Civic > 475,000 SF Retail > 130 Hotel rooms
  • 26. Ephesus- Church/Fordham > 1,000 +/- Residential Units > 350,000 +/- SF Office > 250,000 +/- SF Retail > 150 +/- Hotel rooms
  • 27. Carraway Village (Eubanks Road) > 400 Residential Units > 100,000 SF Office > 120,000 SF Retail > 150+/- Hotel rooms
  • 34. MISSION: Support opportunities to put Chapel Hill’s people to work, and create economic prosperity for all, now and in the future.
  • 35. TARGETS: Output of Medical School, Pharmacy School (and research), Applied Sciences and Technology
  • 37. 1) Strengthen the Town-Gown Relationship 2) Work becomes part of The Life of The Town 3) Tell our Story
  • 38. 1) Strengthen the Town-Gown Relationship For 200 years, this has been the place people go to college and then leave. The downtown has become a place to dine, but not to shop or work. The town and the university need to coordinate their growth, so that this becomes one lively and diverse place.
  • 39. 2) Work becomes part of The Life of The Town People want to start companies here, but there is not enough room for them to grow, especially downtown, where they can walk to coffee. Skilled and creative people need not only offices and labs to design and make things, but workshops and studios as well.
  • 40. 3) Tell our Story The name “Chapel Hill” is nationally recognized. To locals, this is still “The Village”, with stone walls and the shade of stately trees that beckon for conversation. It offers something different than Boulder, Berkeley or Cambridge. For the post- doc looking to settle down, this can be their new hometown.
  • 41. For Pride: Chapel Hill is nationally recognized as an intellectual center, but it lacks the local jobs and business that translate new ideas into new products and services that have impact on the world. For Prosperity: More jobs and business will create community wealth and build the tax base. For People: Recent graduates will be able to start their careers and families here, filling out the middle of the generations.
  • 43. ___ Market conditions Office – 8-9% +/- vacancy (approximate 2.4 million SF) Retail – 6% +/-vacancy (approximate 2. million SF) ___ Room for growth!
  • 47. ___ Market Demand Office > In walkable environment > Changing the regional development perspective of Chapel Hill > Up to 1,000,000 SF of demand Retail >To meet growing demand of existing businesses > To capture more of our own demand (up to 1,000,000 SF by 2020) ___
  • 50. Places and Spaces The Residential Real Estate Market August 25, 2016 Mark Zimmerman Broker/Owner - RE/MAX Winning Edge
  • 51. Please note: All data from Triangle Multiple Listing Service & 10K Research and Marketing All data through July, 2016 County review, not cities Focused on single family detached Not multi-family (townhouse/condo) No rentals/apartments
  • 52. 2016 - The Year that Just Keeps Giving 2016 builds on 2015 success Momentum continues through 2nd quarter Reaching or surpassing historic highs
  • 53. Closed Sales Continue Steady Climb YTD July: ● Orange ○ +9.0% ● Chatham ○ +9.0% ● Durham ○ +9.2%
  • 54. Closed Sales - Closing in on Historic Peaks
  • 55. 2016 - The Year that Just Keeps Giving Shortage of listings Particularly in Durham Multiple offers Lower inventory at all price points
  • 56. Month’s Supply of Homes for Sale July: ● Orange ○ 4.6 months ○ -27.0% ● Chatham ○ 5.4 months ○ -8.5% ● Durham ○ 2.1 months ○ -27.6%
  • 57. Month’s Supply by Price Point - Orange July: ● $459,000+ ○ 7.3 months ○ -33.0% ● $290,000 - $459,000 ○ 3.1 months ○ -43.6% ● $179,000 - $289,000 ○ 2.8 months ○ -30.0%
  • 58. Month’s Supply by Price Point - Chatham July: ● $475,000+ ○ 11.3 months ○ -4.2% ● $325,000 - $475,000 ○ 4.3 months ○ -10.4% ● $204,000 - $325,000 ○ 1.7 months ○ -52.8%
  • 59. Month’s Supply by Price Point - Durham July: ● $246,000+ ○ 3.3 months ○ -19.5% ● $175,000 - $246,000 ○ 1.5 months ○ -25.0% ● $125,000 - $174,000 ○ 1.3 months ○ -45.8%
  • 60. 2016 - The Year that Just Keeps Giving Limited Supply + High Demand = Increasing prices It’s a Seller’s Market Frustrated Buyers Orange reaches milestone Chatham & Durham = more price value
  • 61. Average Sales Price 12 months thru July: ● Orange ○ $401,063 ○ +5.2% ● Chatham ○ $393,573 ○ +8.1% ● Durham ○ $245,470 ○ +8.7%
  • 62. Average Sales Price per Square Foot 12 months thru July: ● Orange ○ $155 ○ +4.7% ● Chatham ○ $143 ○ +5.9% ● Durham ○ $117 ○ +9.3%
  • 63. 2016 - How has Market Reacted? Durham & Chatham adding new homes Orange living off existing homes New construction helps keep older home prices more affordable
  • 64. New Construction Listings 12 months thru July: ● Orange ○ 177 ○ +9.6% ● Chatham ○ 588 ○ +15.7% ● Durham ○ 600 ○ +42.5%
  • 65. New vs Resale - Price per Square Foot 12 months thru July: ● Orange ○ $160 vs $154 ○ -3.7% ● Chatham ○ $151 vs $137 ○ -9.2% ● Durham ○ $142 vs $113 ○ -20.4%
  • 66. 2016 - The Year that Just Keeps Giving Sales up Inventory down Prices up Chatham & Durham responding to demand Orange staying the course
  • 68. Chatham County SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 69. Chatham County • Overview • Governors Village • 15-501 Corridor • Briar Chapel & Veranda • Chatham Park • Pittsboro
  • 71. Overview SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 72. Who We Are Kyle Touchstone President Jamie Vaughn Vice President Ben Townsend Business Services Manager Alyssa Byrd Communications Specialist
  • 73. About Us Chatham Economic Development Corporation (EDC) is the lead economic development agency for Chatham County. The EDC is a 501(c)3 economic development non-profit that provides support to businesses throughout the county and markets Chatham County as the preferred location for emerging growth companies.
  • 74. Economic Indicators • Population: 70,928 (July 2015) ◦ Fastest growing between 2014-2015 • Labor Force: 33,331 (June 2016) • Jobs: 14,179 (Q1 2016) • Unemployment: 4.4% (June 2016) ◦ 4th lowest in NC • Average Weekly Wage: $643.27 (Q1 2016) ◦ State Average: $927.78
  • 75. Population Growth 2010- 2015 13.7% 11.7% 11.5% 5.7% Wake Chatham Durham Orange
  • 76. Governors Village SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 79. 15-501 Corridor SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 81. North Chatham Village 2011 2015 2016 Formerly Cole Park Pl
  • 85. Briar Chapel & Veranda SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 92. Chatham Park SPACES & PLACES: 2016 REGIONAL GROWTH AND DEVELOPMENT BRIEFING
  • 93. • 7,100+ acre mixed-use development • 22,000 residential units (60,000 people) • 22 million square feet of non-residential development ◦ Targeted businesses: Technology, biotech, clean tech, and medicine
  • 99. Bellemont Pointe Photo: Town of Pittsboro 2015 2016
  • 100. Chatham County Agriculture and Conference Center
  • 101. Connect Kyle Touchstone President, Chatham EDC ktouchstone@chathamedc. org 919-542-8274 www.chathamedc.org
  • 102. Laurie Paolicelli Executive Director Chapel Hill/Orange County Visitors Bureau
  • 103. Spaces & Places Orange County Travel and Tourism August 2016
  • 104. Name City Rooms Open Date Holiday Inn Express Hillsborough 83 April 1997 Microtel Inn & Suites by Hillsborough 70 May 2000 Hampton Inn & Suites Carrboro 142 August 2013 Autograph Collection The Siena Hotel Chapel Hill 79 October 1987 University Inn Chapel Hill 132 June 1966 Days Inn Chapel Hill 50 January 1999 Quality Inn Chapel Hill 119 January 1987 Residence Inn Chapel Hill 108 January 2007 Curio Collection Franklin Hotel Chapel Hill 67 January 2007 The Carolina Inn Chapel Hill 185 June 1924 Aloft Hotel Chapel Hill 130 April 2010 Courtyard Chapel Hill 169 September 2004 Sheraton Chapel Hill 168 June 1980 TOTAL: 13 Hotels 1502
  • 106. 358 new rooms (21% increase in supply) Hyatt Place 110 Rooms Chapel Hill 5 Stories AC By Marriot 123 Rooms Chapel Hill 4 stories Hilton Garden Inn 125 Room 10,000 sq. feet meeting space Carrboro 5 stories
  • 111. ACByMarriott 214 Rosemary Open Date: October 2017 Excavation complete November 2016
  • 112. AC by Marriott Rosemary Street
  • 114. HyattPlaceSouthernVillage 110-room hotel 1,700 square feet of meeting space 1,680 square foot third-floor outdoor function space.
  • 116. Hillsborough • Sportsplex: • Sportsplex hosted 553,000 people in 2015. • Consistently ranks in top 5 visitor destinations • Opportunity for overnight accommodations • Near growing Hillsborough assets • SOCCER: • Soccer.com has 5 full size fields that can be reconfigured for many more smaller fields for younger teams. • OC may be adding anywhere from 2-4 new fields (two if they are synthetic turf, four if they are not). •
  • 118. Why Hotel Investment Here? • A typical hotel investor, when evaluating this market, looks for both specific property and comp set evidence of hotel performance levels approximating the following: • Full service hotels: Occupancy: 70% or higher ADR: $150 or higher RevPAR: $105 or higher • Select/focused service hotels: Occupancy: 70% or higher ADR: $115 or higher • RevPAR: $80 or higher • RevPAR is the key indicator here.
  • 119. Orange County Tourism Focus • The entry of these new rooms coupled with slower growth on the demand side will continue to create a relatively uncertain transient market landscape during 2017 as the market continues to absorb the new inventory. • The focus of the Chapel Hill/Orange County Visitors Bureau is two-fold: ▫ Marketing the assets of our communities ▫ Feasibility study to look at new demand generators
  • 120. Durham and Wake Counties • Durham currently has 8,712 hotel rooms--21% growth in supply in 2017 to 9,135 rooms. • Wake County has 15,500 hotel rooms and will see 11% growth in 2017 to 17,601 rooms.
  • 121. • Durham: • November 2014 the 128-room Hilton Garden Inn at Medical Center opened, followed by 125-room 21c Museum Hotel & 54-room Durham Hotel. • Starwood opened the 134-room Aloft Hotel at DPAC and Marriott opened the 147-room all suites Residence Inn McPherson/Medical Center. • In addition to these 588 new rooms, the following properties will add an additional 423 rooms. ▫ JB Duke Hotel (January 2017) 198 rooms ▫ Graduate Hotel (Spring 2017) 150 rooms ▫ Unscripted Hotel (April 2017) 75 rooms
  • 122. Economic Development Panelists Dwight Bassett Economic Development Officer Town of Chapel Hill Steve Brantley Director of Economic Development Orange County Annette Stone Econ. & Community Development Director Town of Carrboro Kyle Touchstone President & CEO Chatham Economic Development Corporation
  • 123. Upcoming Events Face Time Sept. 15, 5:30-7:30 p.m. Rizzo Conference Center Performance Golf Classic Oct. 10, 8:30 a.m.-5 p.m. Chapel Hill Country Club Economic Outlook Briefing Oct. 20, 8-10 a.m. Sheraton Chapel Hill Hotel PRIMETIME Business Expo Nov. 10, UNC Friday Center www.carolinachamber.org/events
  • 124. Explore the latest local, state and national trends in our economy. Visit carolinachamber.org/events for more information! Economic Outlook Briefing 7:30-9:30 a.m., Thursday, Oct. 20 at the Sheraton Chapel Hill

Notas del editor

  1. Aaron said I should plan to share what seems important to 150-200 business people in Chapel Hill.
  2. The world is not flat…
  3. It is actually round…
  4. No man ever steps in the same river twice, for it's not the same river and he's not the same man. You could not step twice into the same rivers; for other waters are ever flowing on to you. Chapel Hill is different today than it was 30 years ago and we are different people. Perhaps the Chapel Hill of tomorrow will become far greater than the Chapel Hill many of us remember in our past.
  5. Just to highlight a few developments that prepare for that future.
  6. Carolina Square, home to Target and under construction.
  7. Glen Lennox currently seeking equity with hopes of beginning their redevelopment in 2017.
  8. South Creek in a marketing mode and we hope to see them come out of the ground in 2017.
  9. Many projects under construction and many others in the planning stage.
  10. In for their Zoning Compliance Certificate for Phase 1 and in a national marketing effort for commercial users.
  11. Projects in downtown….
  12. Approved SF…
  13. Thinking of our current views of Chapel Hill and how we begin to see ourselves into the future…
  14. Began as a way to help Council understand the market of retail development and evolved to a Commercial Development Strategy to replace the Economic Development Strategy.
  15. US Universities
  16. Taking our place on the map….
  17. Grow jobs for Chapel Hill
  18. Target companies that seem to fit as an out-growth of research, and applied sciences ( includes technology).
  19. Create jobs from innovation, entrepreneurs and companies that desire to locate here.
  20. Commercial Development Strategy
  21. Create an improved relation that leads to retention of talent.
  22. The Town becomes a key facilitator of space for doing business and providing the necessary infrastructure.
  23. Can you tell the Chapel Hill story? Boulder’s is :“Boulder always seems to be the perfect storm of everything,” he says. It has 300 days of sunshine a year, Flatirons mountain views, a foodie culture with a killer craft beer scene, universities, a tech-savvy government and, according to a 2013 New Engine/Kauffman Foundation research report, the highest density of tech startups in America. We have to better develop our business and quality of life story and include our trees, rock walls and graciousness…
  24. Pride: Recognized center of knowledge, Prosperity: More jobs and businesses, a place for you children to do an internship, People: Stop the brain drain that we have seen in the past
  25. storytelling
  26. storytelling
  27. MLS - most, but not all sales. Used 12 month rolling when appropriate to account for seasonality Chapel Hill/Carrboro? On most measures, more extreme. In school district, even more extreme. SFD for apples to apples. Chatham - most inventory. Durham and Chapel Hill more diverse, but trends same. Just don’t have a good database for rentals, as important as they are to these markets
  28. Single Family Detached (used unless noted). Healthy and steady growth. Shows last 18 months. Used 12 month rolling data to smooth out seasonality. 9% YTD - very good, but not so fast as to get overheated.
  29. Last ten years. Pre-recession. Durham very close to highs. Chathamand Orange exceeded them a while ago.
  30. Despite listing growth, sales have kept inventory down. 6 is considered balanced market. All areas “seller’s markets.” Durham crazy low. = fewer days on market, multiple offers, disappointed buyers, higher prices.
  31. You may be curious how supply works by price point. More supply for higher prices, but coming down. Orange $450+ nearing equilibrium, dropped by a third. $300-$450 real sweet spot - down 43%
  32. Chatham still working through high end backlog - also adding a lot of new construction (more on that later). Lower price points low inventory
  33. Durham is basically just very hot across the board.
  34. Orange and Chatham very close - Orange milestone - broke the $400,000 barrier - will make homeowners in room happy, but not affordable housing advocates Orange = +1.9% higher than Chatham and +63.3% higher than Durham
  35. What do you get for your money? Equalize things using price per square foot. Still costs healthy premium to by in Orange. Orange = +8.3% higher than Chatham and +32.5% higher than Durham But Orange much higher PPSF
  36. New Construction - Chatham and Durham very active. Chatham new construction driver for a while (less increase). Durham accelerating.
  37. Chatham 2.5 times, Durham 5.5 times The introduction of brand new construction means competition for older homes, which must drop price to be competitive
  38. Chatham County is a largely rural county in central North Carolina. According to Census estimates, Chatham County was the fastest growing county in the state between 2014 and 2015. In spite of a steadily low unemployment rate, the County faces challenges with providing well-paying jobs for its educated and skilled workforce. There are more than 33,000 residents in the workforce, and fewer than 14,000 jobs. Those jobs, on average, pay well below the state average.
  39. Near the Walmart on 15-501, a $2.1 million, 54,000 square foot two-story storage facility recently opened.
  40. Three years ago, a Charlotte development group purchased Cole Park Plaza. Now called North Chatham Village, developers are overhauling the entire center.
  41. Several buildings have been demolished and remaining buildings are being upfitted with modern facades.
  42. The owners are working to attract national chains, including a McDonald’s and Dollar Tree.
  43. Polk Village has a day care, medical facility, and an assisted living facility. Its multi-tenant commercial space has an Asian restaurant, salon, and physical therapy space.
  44. Briar Chapel broke ground on the commercial portion of its development.
  45. The 17,000 square foot commercial building next to Lowe’s Home Improvement in Pittsboro’s Bellemont Station was recently completed.
  46. Four new apartment buildings with 76 units at Bellemont Station increases the diversity in housing options for residents.
  47. Progress continues on the new conference center, slated to open this fall.