The urban living trend has spread to Matthews,
where developers plan to start the town's first high-density
downtown housing project by early this winter.
The Downtown Group plans 36 townhomes and 24
business/residential condos in Park Square, to be built on slightly
more than four acres at 316 E. John St., across from the post
office.
Neotraditional development, which mixes
housing, shops, services and restaurants in pedestrian-friendly
communities similar to old-time small towns, is a hot trend in real
estate.
Developers often start from scratch in
combining retail and residential in projects like Birkdale Village
in Huntersville and Phillips Place in SouthPark.
But in Matthews, a 22,127-population town in
southeast Mecklenburg, many shops, restaurants and other amenities
are in place and within easy walking distance of the Park Square
site.
Matthews Mayor Lee Myers said the town worked
closely with the developers on the design of the project during the
rezoning process.
"If you had asked me 10 years ago if we'd
ever be doing anything like this, I would have said no," Myers
said. "But there are a lot of pluses here -- at this location I
think it works."
Some nearby residents protested the rezoning,
but Matthews officials say the high-density housing will be
consistent with the town's development master plan.
Myers believes more people living downtown
could enhance the Matthews Station mixed-used project in the heart
of town and perhaps help attract a specialty grocery store.
Real estate analyst Frank Warren of Frank
Warren Associates said much of what happens next in downtown
Matthews' residential development probably will be determined by
where mass transit stations ultimately are built.
"I don't see a flood of activity,"
he said. "The development sites are going to be limited, and
I'm not sure the town wants to be a mecca of high-density
housing."
Park Square's developers opened a sales center
in a two-bedroom house that will be moved from the site before condo
construction begins.
"We think the exciting thing about this
is people can own a piece of downtown Matthews, something that
hasn't been available to the general public before," said Tim
Crawford of Citiline.
His company is a partner in The Downtown Group
with real estate investor/developer Curtis Kennington.
The most visible building from John Street
will be a two-story masonry structure designed to mesh
architecturally with downtown storefronts.
Second-floor residential condos will have
recessed balconies, and first-floor business condos will have
recessed entrances. Upstairs units can be combined with downstairs
units to create a live-work condo.
Prices for a residential condo start at
$113,990 for 1,018 square feet. A 1,018-square-foot business condo
in the same building will sell for $157,990.
Two-story townhomes will be built around a
landscaped park-like area. Prices start at $116,990 for a
1,152-square-foot unit.
Reinhardt Architecture Inc. designed the
buildings and worked with Mayflower Design Studio on the landscape
planning.
Crawford said Emma Littlejohn of The
Littlejohn Group assisted with marketing, and Allen Tate Realtors'
Matthews office is handling residential sales. Citiline will handle
business condo sales. The Downtown Group is negotiating with Maleady
Builders Inc. to construct the buildings.
The developers control the four acres needed
for the $9 million project, but they haven't purchased it. They plan
to close in December on about 40 percent of the land.