Foster Creek lot sales set to start in 2013
Published 7:30 pm Tuesday, September 21, 2010
In the first draft of a development agreement between the Town of Columbus and Foster Creek Preserve, the developers present a schedule showing a build-out of 15 to 20 years.
Design, engineering and permitting are expected to be done by the fourth quarter of 2012, and lot sales are planned to begin in the second quarter of 2013.
Foster Creek Preserve sits on 1,065 acres located off Houston Road in Columbus.
The master plan, already approved, includes 700 lots broken up into detached and attached single family dwellings and multifamily dwellings, as well as accessory recreational and open space uses.
Columbus Town Council acknowledged receipt of the 13-page draft agreement last Thursday.
The agreement indicates that Foster Creek will construct turn lanes on Houston Road and Hwy. 108, where two entrances are proposed.
Developers are agreeing to extend the towns existing water and sewer lines to the property at their own expense as well as provide necessary water storage tanks.
The draft agreement also states that developers recognize the importance to the local economy of hiring members of the local workforce, engaging local contractors and purchasing material from local suppliers, and will encourage the use of local contractors and suppliers during construction.
Complete build-out of the development, including infrastructure and lot development, should be completed between the years of 2025 and 2030, the agreement says.
The agreement specifies that it will terminate 20 years after it is executed, unless terminated mutually prior to the end of the agreement.
Developers say in the agreement that they anticipate lot and unit absorption will average 50 per year over the life of the project.
However, the timing of development will be very much affected by the health of the national and local economies, as well as the demand for various housing types in the region, states the draft agreement. It is extremely difficult, if not impossible, to accurately project timing of future phases of development and lot demand.
The last pages of the agreement include the development schedule.
2012 to 2014
The project is scheduled to begin between the years 2012 and 2014 with design, engineering and permitting done by the fourth quarter of 2012.
Phase I will include roadway improvements along Hwy. 108 and infrastructure for an amenity area and various product types (cluster homes, cottage homes and 12-acre+ lots).
Approximately 100 lots (89 lots and 11 townhome lots) will be developed during the 2012 to 2014 time period.
Phase I will also include the construction of a 250,000 gallon water storage tank.
2015 to 2018
The schedule for the years 2015 to 2018 includes complete development of phase I and infrastructure and lot development of phase 2.
In phase 2, roadway improvements along Houston Road will be made, and approximately 191 lots (96 lots from phase I and 55 lots and 40 townhome lots in phase 2) will be developed.
2019 to 2024
Phase 2 development is scheduled to continue from 2019 through 2024. Construction of phases 3 and 4 will also take place then, according to the draft agreement.
Approximately 304 lots (23 townhome lots in phase 2, 141 lots and 72 townhome lots in phase 3 and 57 lots and 11 townhome lots in phase 4) will be developed.
This time period will also include the construction of a 250,000-gallon water store tank.
2025 to 2030
All phases should be completed between 2025 and 2030, including the complete lot development of phases 3 and 4. Infrastructure and lot development of phases 5 and 6 will also be done, including 92 lots (33 lots in phase 5, 31 lots and 28 townhome lots in phase 6).
Town council invites the public to review the complete draft agreement at town hall as well as on the towns website at www.columbusnc.com. Columbus Mayor Eric McIntyre says the town is in the process of reviewing the agreement, which will take at least several months to complete.