Mr. Jim Fagan

The proposal, which includes a mix of retail and office, could change depending on what happens at tonight's meeting and future discussions with the neighborhood, said Jim Fagan, a senior partner with JDH.

"The plan we submitted has already changed and will change more," he said.

The Gastonia Planning Commission is scheduled to hold a rezoning hearing in January.The hearing could be pushed back, depending on what happens at the neighborhood meetings, Fagan said.

The proposal includes a grocery store surrounded by several smaller stores.It is not a typical big-box development but includes hidden parking and a future connection to the greenway.

Mr. Jim Fagan of JDH Capital, 3735 Beam Road, Charlotte, spoke on behalf of the developers of this project.He stated that his company has tried to address all of the neighbors' concerns and will comply with every condition requested by the Planning Board.He mentioned that there was one remaining item of concern regarding Fire Department access.There are no written ordinances or codes which would address this matter, but Fire Department staff has indicated a concern with regard to the access and maneuver space for its forty-foot ladder truck.After extensive review and study of different options, Mr. Fagan stated that the site plan illustrates the best possible configuration for emergency vehicles, although the ladder truck may have to back out onto the street to exit the property.

There's a good bit of retail working where the new interchange is going to hit Prosperity Church , says Jim Fagan , partner JDH Capital.

Some developers say there is seemingly no end to the interest in the pieces of property they represent in the university area.They say even if the growth itself does not mimic the explosion that took place along I-485's southern interchanges , they expect most of the property to fill in the way city planners are recommending.

There is property available.There is still quite a bit of developable land in the area.
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For developers like Fagan , though , justifying a mixed-use center is made easier by residential growth already in the area , especially if those residents are still a few miles away from proposed mass transit lines.That's why Prosperity Village was proposed.

The people that live north of ( Prosperity Village ) need to have neighborhood services that are more closely located to them , says Fagan.

Chesapeake, Va.-based Dollar Tree, a publicly traded retailer with more than 2,000 stores nationwide, will fill about 11,000 square feet of space recently vacated by four previous tenants, says Jim Fagan, a JDH partner.

Charlotte-based JDH bought the 20-year-old center, at Reddman and Albemarle roads, from Childress Klein Properties Inc., its original developer.

Fagan says JDH has a previously established relationship with Dollar Tree, having leased several of its stores throughout the Carolinas.The real estate brokerage and development firm also has worked with Childress Klein in the past.

"So it all just sort of worked out," Fagan says.
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Fagan says Dollar Tree was interested in Charlotte's east side, a part of town it considers a prime target.

"There's a lot of positive new growth in what we think of as the Eastland Mall corridor," Fagan says.

JDH also develops what it calls "shadow" retail , ancillary stores that play off big-box retailers such as Target and Wal-Mart, says Jim Fagan, another JDH partner.

"This company cut its teeth on retail, and we think that's where we're going to stay," Fagan says.

JDH partner Jim Fagan says the city has emphasized the need not only for a mix of uses, but also a mix of uses within buildings -- which is what prompted the idea of the units with commercial space on the ground floor and residential on top.

"We are also keeping that theme by doing townhomes, quadruplexes and single family all in one neighborhood with an integrated streetscape," Fagan says.

It's too early in the process to speculate on home prices or rental rates, Fagan says.

Both Hill and Fagan say completion of the northern leg of I-485 will greatly enhance the area by providing more fluid movement between residential areas and employment centers.

The project site will benefit from proximity to Interstates 485, 77 and 85, as well as W.T. Harris Boulevard and points north to Cabarrus County, JDH officials say.

"When I-485 is built, it's going to dramatically change the way people work, shop and conceivably live," Fagan says.

James A. Fagan Jr.
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JAMES A. FAGAN, Jr.

James A. Fagan, Jr. joined JDH in 1999 and became one of the three managing partners in 2000.Mr. Fagan has primary responsibility for the operations of the company including the oversight of personnel, financial matters, and many of JDH's investor relationships.Mr. Fagan also oversees most of the company's rezonings and management of its shadow retail developments.Prior to joining JDH, Mr. Fagan spent nine years in the insurance industry most recently as President of the Medical Mutual Agency.He holds a degree in Business Administration from Wake Forest University and is currently a CCIM candidate.

James A. Fagan, Jr.

James Fagan of JDH Capital on behalf of Dollar Tree Stores, said the company plans to invest $1.12 million to purchase land and build a store on U.S. 321 in front of St. Francis of Assisi Church.The company plans to spend $275,000 to purchase property, $606,000 for the building and site preparation; and $240,000 for leasehold improvements.The project is expected to create 10 to 20 new jobs.The proposed EDI from Caldwell County is $4,675 annually for three or a total incentive of $14,026.Caldwell County also would contribute $311.69 annually for three years or a total of $935 to the Economic Development Commission fund to market the county its municipalities.• Approved the Western Piedmont Council of Governments' plans to spend $417,378 in Home and Community Care Block Grant funds for fiscal year 2002-03.The plan includes continued funding for the Caldwell Senior Center.