On January 21, we will receive the Town Council’s comments on our proposal for a new hotel, or a hotel with a floor of residential condominiums. We will show sketches (in previous post below as well as aerial) of a four-story building of up to 120,000 square feet, with structured parking and a small amount of street-front retail space.
Why Consider a Hotel for the Village Center?
Benefit to Neighbors
All successful efforts to strengthen our micro-economy here in the Village Center carry benefits to Southern Village homeowners. A vibrant Village Center helps keep housing values strong. Local Realtors report that homebuyers considering Southern Village place a high value on being able to walk to restaurants, shops and services. A hotel would broaden the array of local conveniences, by providing a place for guests to stay and for local families to have reunions, weddings and other celebrations.
Benefits to Merchants and Tenants
This proposal is an economic development initiative. Its goal is to make the existing businesses and restaurants on Market Street even more economically sustainable. Locally owned retail stores today compete with the convenience of big box stores and the ease of internet shopping.
A hotel would be an excellent third anchor to complement Weaver Street Market and The Lumina. The Chapel Hill/Orange County Visitors Bureau reports that in 2008, a person who stayed overnight in a Chapel Hill hotel spent almost $300 per day for housing, food, gifts and incidentals. A hotel would bring business to our retailers and restaurants, and strengthen the long-term economic vitality of the Village Center.
Market Street business owners and restaurateurs support a new hotel in the Village Center.
Benefits to the Chapel Hill Community
A hotel would have a beneficial fiscal impact, adding to the non-residential tax base in an area where municipal services are already provided. It would also contribute occupancy tax revenues to our local governments. The location is an excellent fit for our public transit system, enabling visitors to attend sports events, concerts and UNC conferences by using Chapel Hill Transit.
Concerns We Have Heard | Our Response
Open Space
The Village Green and stage area will remain open space, available for neighborhood activities and public events.
Financial Viability | Our Sense of Responsibility
This hotel would be developed by the same team that has been working on Southern Village since 1993 and created the Southern Village neighborhood, the Village Green, and the Village Center. We formed creative partnerships to bring in Scroggs Elementary, Weaver Street Market, Christ Church and Chapel Hill Day Care.
Our track record is one of fiscal responsibility. We structured partnerships in a conservative manner with low debt. To create several components of the Southern Village we enjoy today – the apartments, the condominiums, Weaver Street Market, The Lumina – we found partners with demonstrated expertise. In building a hotel, we would partner with persons with expertise in hotel construction and operation. Chapel Hill’s hotel sector has had notable success over the past few years, with occupancy staying in the high 60 to low 70 percentages.
Aesthetics | Our Demonstrated Design Expertise
We have created an aesthetically pleasing, nationally recognized functioning Village Center, following these key design principles:
• Bring buildings to the sidewalk.
• Make the buildings permeable, with windows and doors.
• Hide the parking.
The Village Center will be more aesthetically pleasing if the parking lot is replaced with a building that fits into the fabric of the Center.
Parking
Convenient, well-lighted, on-grade parking will be provided for Market Street businesses.The parking provided on this block will include the current 70 spaces, plus the required number of spaces for a hotel. We have a parking management strategy. With the 300, 400 and 410 Market Street buildings, we have demonstrated that we know how to integrate parking into a mixed-use village so that it is both functional and attractively concealed.
Construction Process
We are committed to minimizing the impacts of construction by using parking management, valet parking, communications strategies through our marketing, signage and website, and the shortest feasible construction period. We welcome all ideas on how this process can be best managed.
Your Thoughts Are Important to Us
The January 12, 2009 community meeting will be our 8th public meeting with Southern Village residents to discuss this proposal and answer questions. We wish to involve neighbors and our local businesses in the planning process. We look forward to seeing you on January 12, and hearing from you any time. Please send emails to drbryan ( at ) mindspring.com, waldorf ( at ) nc.rr.com, and jfugo (at ) montgomerydevelopment.com.
