The Village At Lake Norman offers 7 major benefits to the community

Benefit #1. Widening of I-77 and US 21, plus a new Exit 27 interchange.
We know that traffic is already a major concern in North Mecklenburg - several members of our development team live here. And good transportation access is critical to our project.

So we are working with the Town of Cornelius, Mecklenburg County and other government entities on an agreement which would allow a substantial portion of the new property taxes generated by this project only (no other parcels) to pay for major transportation improvements that will benefit everyone. These would include:

• Widening I-77 from two lanes in each direction to three with a fourth lane as needed, from south of Exit 23 in Huntersville, all the way to Exit 28 in Cornelius. This will be a significant benefit, by relieving the already existing congestion.

• A new Exit 27 at I-77 and Westmoreland Road that would allow direct access to the project, so vehicles do not have to go through Exit 28 or Exit 25 and further clog up Highway 21 to get there

• A new fly-over bridge, extending religned Bailey Road through our project and over the interstate to connect with Westmoreland Road west of town, improving east-west connectivity.

• Widening of US 21/Statesville Road to 5 lanes with an elegantly landscaped divided median - turn lane combination, plus extensive planting of trees along the highway to create a beautiful parkway effect and entrance into the Town of Cornelius.

• Improvements on Westmoreland Road and all other entrances into the project

• Based upon the planned roadway improvements, this project could provide significant improvements in transportation infrastructure that otherwise could take 20-plus years if financing were dependent on typical state and local transportation funds.

• Development of the I-77 interchange and widening of I-77 requires numerous approvals, such as Federal Highway Administration, NC DOT and Mecklenburg-Union Metropolitan Planning Organization approval. The NCDOT must also approve all proposed road changes, and has to date expressed support of the proposed interchange

Benefit #2. High quality, master-planned development at a far higher level than previous zoning for the site.

• Previous zoning called for a small retail project, car dealerships, and single-family residential subdivisions such as you already find along Highway 21. Instead we will develop a high-quality, master-planned development that will make a substantial contribution to the town in terms of aesthetics, economics and most importantly lifestyle.

• This beautiful, approximately $516-million center will be located on 104 acres south of Westmoreland Road, bounded by US 21 on the east and I-77 on the west.

• Including approximately 655,000 square feet of high-quality retail/restaurant space, 810,000 square feet of Class A corporate office, two hotels totaling 350 rooms, and 400 luxury condominium residences.

• 400 high-end residences will be built above retail shops and restaurants in two similar mixed-use buildings, facing each other across a Village Green.

Benefit #3. Aesthetic design reflecting the Town’s vision for a pedestrian-friendly, mixed-use center, and the relaxed Lake Norman area lifestyle.
• The architecture, inspired by historic coastal resorts such as Jekyll Island, reflects a relaxed, comfortable, outdoor-enjoyment lifestyle appropriate for the Lake Norman area.

• Many trees and other resort-quality landscaping elements will be used along the edges of the property, creating a “History Trail” that links the project’s many parks and open spaces as well as providing integration with the interior green and retail spaces. Over 2,000 new trees and shrubs will be planted.

• Underground parking and service areas located below the mixed-use structures will reduce ground-level parking, as well as virtually eliminate truck traffic plus the nuisance that garbage and recycling facilities can cause.

• The development features the creative work of three leading Charlotte design firms: ColeJenest & Stone, a land use planning firm which has designed plans for many of the region’s high-end projects such as Piedmont Town Center at SouthPark; Bartlett Associates MegaStrategies, the architecture firm which designed the dramatic renovations and expansions at SouthPark Mall as well as other mixed-use developments; and Kimley-Horn of Charlotte, a highly experienced traffic engineering and transportation design firm.

Benefit #4. Improving quality of life with retail, residential, recreational, business and hospitality amenities which do not exist in Cornelius now.

• Major high-quality retailers for the department stores, shops and great restaurants have expressed strong interest.

• A 250-room, full-service, high-end hotel, conference and banquet center, and a separate 100-room limited-service hotel, will fill a big need in the area for meeting space, receptions and social events, as well as a really nice space for overnight guests.

• The Village Green would host public events like live music, “Movies on the Green,” a farmers market, community art and craft shows, as well as outdoor dining, casual strolling and relaxing.

Benefit #5. Generating substantial new tax revenues for the Town, County and State.
• The project will generate millions of dollars a year in new property taxes to

provide additional municipal services and transportation improvements, as well as generating millions in sales taxes and hotel occupancy taxes.

Benefit #6. Creating more than $370 million a year in positive economic impact.

• Projections by our economic consultants estimate that the project will create about 4,600 new jobs, $370 million a year in positive economic impact, revenues for other local businesses, and increased support for local non-profit and religious organizations.

Benefit #7. Commitment you can depend on.
• The development team is totally committed to building a complete mixed-use center including a wide variety of retail, restaurants, condominiums, offices, and hotel-conference center uses.

• It will be beautifully designed, professionally built and extensively landscaped.

• This will be a project we can all be proud of, enjoy, and share with family, friends and neighbors for years to come.

• The Village At Lake Norman will not be developed unless the new I-77 interchange is approved by all governing authorities and the Town of Cornelius and Mecklenburg County accept our request to utilize a portion of the taxes generated by this project only to offset the costs of the improvements.

• Our project will not open for business until the new interchange is completed.

• The Cornelius-Bromont development team includes Bromont Investments of Scottsdale, AZ, with over 30 years experience developing high-quality retail centers, Class-A office and multi-family projects throughout the country.

• The other partner, Carlsen Douglas Development, has been developing commercial property in the Lake Norman area since 2000. Its principals have over 30 years experience in the real estate field.

Thank You!
Thank you for taking the time to review this information. We will appreciate your suggestions and support, and we look forward to meeting with you in the near future. Please leave your suggestions and feedback on our feedback page and return often to stay informed about the project’s progress.