Agenda Item Executive SummarY
Item title
title
Blue Hill Semiannual Report #20
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT
Corey Liles, Zoning Administrator, Planning Department
STAFF RECOMMENDATION
That Council receive the report.
body
PROCEDURAL CONTEXT
Council’s 2014 Resolution on Continued Action calls for regular updates on the Blue Hill District through 2024.
BACKGROUND AND CONTEXT
• The Report provides updates on Blue Hill District activity since the previous update provided on March 28, 2024.
• The Town currently has no active capital projects in the District.
• Development Projects Under Review
Tarheel Lodging Phase II:
Along Novus Lane adjacent to Tru Hotel
Approx. 283 dwelling units, 42,455 sq. ft. of office space, and associated amenities
Community Design Commission approved the Certificate of Appropriateness in November 2022
Staff review is in progress (modification to previous permit)
Park Apartments Phase II:
Northwest corner of Elliott Road Ext. and Bennett Way
Approx. 259 dwelling units, 16,254 sq. ft. of co-working space and associated amenities
Community Design Commission approved the Certificate of Appropriateness in April 2023
Staff review is in progress
• Development Projects Under Construction or Approved
Millennium Chapel Hill:
Southeast corner of Ephesus Church Rd and Fordham Blvd
274 dwelling units and 37,153 sq. ft. of commercial space
Aura Blue Hill:
South of former University Inn and north of Park Apartments
314 dwelling units including live/work units. Approved in January 2023.
Staff is reviewing modifications to the Form District Permit
FINANCIAL IMPACT
The completion of projects continues to increase property tax revenue in the District. Cumulative revenue through FY25 will exceed cumulative debt service payments by an estimated $1,936,995. Annual revenue will continue to exceed debt service in upcoming years.
Attachments
• Blue Hill District Report, September 2024
• Development Tracking Spreadsheet, September 2024
• District Debt Scorecard, September 2024
end