Asheville Gets New Urban Community

Modeled after Huntersville’s Birkdale Village, a new community is being developed just south of Biltmore Estates in Asheville, North Carolina.  The $200 million dollar 42-acre mixed use development is being constructed by Biltmore Farms LLC and Charlotte’s Crossland LLC.  Together they plan to create what will be the premiere location for mixed Office, Retail, and Residential in the Asheville area.  Already built into this area is a new YMCA that has a membership of over 9,000 people.  One of the first big retailers to join up will be REI who plans on building a giant 2 story location at the site.  Future tenants that have already committed to moving in include Barnes & Noble, P.F. Changs China Bistro, Brixx Pizza, and 131 Main. 

It is wonderful to see that developers are not afraid of markets such as Asheville’s where the primary amounts of residents are college students and second home buyers.  The plan is that the Urban Community will resemble the artsy town of Asheville with its 72,000 residents and prominent college scene.  It is believed that the 4,000 residents that live near the Biltmore Park Town Center will utilize most of the shops and retail coming to the area.  It is with they’re help that the community will thrive and be successful.

I find myself baffled by the amount of hope and foresight that developers are having these days.  Facing many perilous situations, developers have drawn a line in the sand and are refusing to slow down due to current conditions.  I think that the one element that keeps these companies pushing forward is a great amount of capitol they retain and they’re close relationships with the banks they use.  Even with the credit situation, I have found that the companies who are operating effectively these days are the ones who have developed and nurtured the relationships with their banks.  I guess a good lesson from this is to research and develop the relationships we have with our banks.