Economic Framework

Charlotte Metro Area 36th most populated Metropolitan Area in U.S. (2005) Mecklenburg County accounts for about 50% of Metro population Metro Area (Yellow)

North Mecklenburg County Demographic Trends & Implications Huntersville Cornelius Davidson

Huntersville Source: UNC Charlotte Urban Institute Source: Current population ~ 40, population 2.5 times current population Projected avg. annual growth rate over 4%

Cornelius Current population about 21, population 1.8 times current population Projected avg. annual growth rate over 3.2%

Davidson Current population ~9, population 2.5 times current population Projected avg. annual growth rate over 3.6%

Building Permit Trends

Median Household Income

Per Capita Income

3 Towns’ Population Growth to 2020: Economic Implications ~ 21,000 new housing units 2,500,000 to 3,000,000 Square Feet of Shopping Center-Inclined Retail to Service Population 800,000 – 1,000,000 Square Feet of Financial and Other Services Space to Service Population

Residential Current Conditions 75% of existing housing single family detached or attached, 25% multi-family 60% of households 1 or 2 persons 75% of households own

Residential Considerations ~ 21,000 new housing units Likely increase in smaller households The future potential –One-third multi-family ~ 6,900 Units –Two-thirds single family – 14,200 Units

Major Mixed-Use Projects Approved & Proposed

All Planned & Proposed Residential Note: Proposed “Bryton” TOD driving the multifamily proposed number.

Residential Opportunity Mixed-use village product in non-urban setting Mixed-use residential near commuter rail line Retirement housing

Retail 2.5 to 3.0 million square feet of new retail potential Major mixed-use centers have plans for almost 2.0 million square feet

Retail Opportunity No supply in Study Area to the east of NC Minute Drive time can support neighborhood center 2012 Prosperity Church connection - community center

County Employment Growth Implications

Employment: Mecklenburg County Source: North Carolina Employment ~158,600 new jobs

Employment Growth Implications Office Space M square feet of new office space in County From 4 th Qtr 2005 to 2 nd Qtr 2007, North Submarket captured 15% of County absorption If Huntersville, Cornelius, and Davidson capture 15% of potential approximately 2,500,000 square feet of office potential

Office Opportunities Convenient access to wealthy growing population –Small professional office potential in mixed- use settings –Medical office

16,000 new jobs in Wholesale Trade, Transportation & Warehousing industries; 5,000 fewer manufacturing 500 to 700 sf/job – 8-10 Million SF of flex, industrial, warehousing From 1 st Qtr 2006 to 2 nd Qtr 2007, North Submarket captured 10% of new County space North market potential of 1 Million SF Employment Growth Implications Industrial Space 2020

Existing, Planned & Proposed Industrial Space

Flex Industrial Opportunities NC 115 logical location for flex, corporate uses – near North 77 Business Park, Bailey Commerce Available built flex is constrained, but there is plenty of business park land Kannapolis Research Park Spin-Off Companies Study Area land very valuable

Conclusion Position in contrast to I-77 Mixed-use village settings nodes “lifestyle” –Professional office –Neighborhood and community retail –Multi-family & retirement housing opportunities NC 115 Potential Employment Uses