Jodie Bartock is a pioneer, and a patient one at that.
He has bought a condominium that hasn't yet been built next to an old
freight track that will carry light-rail trains, but not until 2006.
The 30-year-old accountant doesn't work uptown, so he can't ride the
train to work. Instead, he bought the condo near the planned New
Bern/Marsh Road station as an investment.
"Light rail is a great way to go," said Bartock, who'll live
in the condo and ride the train to football and basketball games. "I
think property values will increase -- a lot."
With the start of light-rail construction only five months away,
interest is heating up in the project that's expected to bring major
redevelopment -- and thousands of new residents -- to South Boulevard over
the next few decades.
Land prices have increased about 10 percent in the last nine months on
the properties that Charlotte Area Transit System plans to buy for the
stations and parking lots along the track, said project manager David
Leard. CATS expects to spend about $26 million to buy properties,
including 41 businesses that will be relocated, 23 vacant buildings and
parcels, as well as smaller portions of 14 properties.
He expects to begin buying land by the end of May -- before prices go
up even more.
CATS plans to break ground this fall on two tracks that will carry
electric-powered trains from uptown to near Pineville along South
Boulevard. The $371 million line will have 14 stations, from Seventh
Street to Interstate 485.
Property owners and developers hope to repeat the success of the
uptown-to-South End trolley line, which has drawn $400 million in private
investment to build condos, apartments, shops and offices. Light-rail
trains will run on those same trolley tracks and then continue on their
own tracks into south Charlotte.
Up and down South Boulevard, developers and landowners are studying the
light-rail plans. Most say it's too early to buy because train service is
still three years away. But a few early birds with land near stations are
talking with developers or preparing their own building plans.
The Pepsi-Cola Bottling Plant is just across the street from the future
New Bern/Marsh station. Executive Vice President Darrell Holland gets lots
of calls from developers and real estate agents who want to know if Pepsi
is selling its building and the 9 acres it owns nearby.
The answer is yes. Holland says the plant needs more room and expects
to move in about five years. "I think someone will buy it and build
some fine condos," he said.
Andy Heath is the first developer to start construction near a station,
at New Bern/Marsh Road, a six-minute train ride to uptown. He is building
3030 South, a 4.2-acre complex of 96 condos, offices and shops. The first
residents, including Bartock, will move in early next year.
Today, South Boulevard is a string of car lots, small businesses and
strip shopping centers. But light rail will change that, Heath says. A
combination of public dollars for new streets, sidewalks and landscaping,
plus private money to develop shops and homes, will rejuvenate the area
around the stations, he said.
"Look what happened in First Ward," he said, referring to
that once-rundown uptown area that was recently redeveloped. "That
can happen here, too."
New Bern is considered the model for other stations. It's near the hot
South End real estate market, as well as an older industrial area that's
ripe for redevelopment. Changes may ripple out from the station at least a
quarter-mile -- about the distance a passenger might walk to catch a
train.
CATS proposes a small park on South Boulevard where the Wachovia bank
now sits. Once the bank is demolished, the station will be visible from
the street. Work is already complete on a broad sidewalk/bike path next to
the track, from uptown to Tremont Avenue and maybe farther.
The biggest change will come several years from now when Marsh
Properties redevelops its 42 acres off Poindexter Drive, a 10-minute walk
to the train station. One day its scattered brick apartments on their
oak-shaded lawns will be replaced with trendy units where hundreds of
commuters could live. "It could be significant -- a nice impact on
the New Bern station," said its president, Jamie McLawhorn.
That's still a few years away because McLawhorn wants the train up and
running before he makes any changes.
Developers are also busy farther south. A small shopping center is
proposed at the end of the line, near Interstate 485, with construction
probably starting late this year. That 1.6-acre parcel, on the market for
just over $1 million, is the last vacant land near what will be the line's
largest station, opposite Carolina Pavilion.
That 12,000-square-foot shopping center will offer goods and services
that train commuters need, with possible tenants such as a sandwich shop,
hair salon, dry cleaners and ice cream store, says Matthew Funderburk, an
agent with The Chambers Group.
Other property owners, like former state Sen. Jerry Blackmon, are
holding back but watching.
Blackmon sits on a transit advisory board, and his family owns 48 acres
on England Street, a short walk from the future Arrowood Road station. For
years they've envisioned a business park there, but since light rail was
announced they are now leaning toward residential. He's waiting for the
economy to improve and for plans for the new station to take shape.
"This won't happen overnight," said Blackmon. "It is
more than three years before the trains start running and maybe three more
years after that before development really gets moving."
Blackmon is looking down the road, both in miles and years. "I
don't want it to stop at 485. I think it should go into Rock Hill, and we
will truly have a regional system. When you plan rail, it is basically
forever."