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The Chinese have a greeting, “May you have an interesting life.” This may sound like a blessing; however, in Chinese the word “interesting” translates to “challenges.” For many, 2004 was a challenging year. As a publisher, I have spent a significant amount of time traveling the state and have interviewed many professionals within the construction trades industry. This feature is an overview of the strengths and challenges that have faced them, as well as the state, in 2004.
First, legal issues challenging the process and protocol of $800 million being invested in West Virginia’s new construction and development delayed many projects ($200 million by the state and $600 million by private investors). Next, the bizarre weather patterns continued throughout the year; ninety-eight degrees in April is not normal for this climate. Not to mention when it rains in West Virginia, it does not just pour—it floods! Finally, there were the national and state elections. When politics take center stage, funded projects go under the microscope, which forces many to play the business form of Jeopardy. Those in the game were forced to ask, “Is my project still funded?”
The business of construction trade was not all trial and tribulation; there were some bright spots as well. Take for instance high-end residential property. The world has at last discovered what we have kept secret for far too long—West Virginia is a great place to live. Nature is our backyard, we know our neighbors, we feel safe, and our traffic jams are measured in minutes, not hours.
The Greenbrier Sporting Club is one of the nation’s hottest places to own property because the new homes are truly magnificent and the beautiful surroundings of White Sulphur Springs are a natural match. The Cerasoli house (the cover image), built by Agsten Construction and Sunset Structures, is located with the sporting club, and the home captures the essence of West Virginia living. Carl Agsten, president Agsten Construction, and Gregg Thaxton, president of Sunset Structures, have formed a talented alliance that draws the attention of leading architects from across the country.
The gated community of Glade Springs Village (a Cooper Community), which opened in the summer of 2001, is built on a master plan that continues to have great success. As of December of 2004, management reported 92 home permits, with sales continuing to exceed projections. The village offers most affordable pricing model given the standard of amenities offered. It is an outstanding lifestyle investment opportunity.
The new Wharf District in Morgantown clearly demonstrates how people with a vision can see past the dilapidated present and dream a better future. Now, The Wharf District shines as a true beacon for a bright future and is an integral part of the economic growth of the region. This area serves as a genuine role model for the state.
Perry Petroplus, one of West Virginia’s visionary developers, reports that in just two years The Residences at Waterfront Place has sold 21 of the 28 luxury, high-rise condominiums. In other markets, there is always a long waiting list for the type of lifestyle The Wharf District offers.
Mike Castle, president of the Phoenix group, reports the rate of sale for The Wharf District’s The View at the Park, Phase I, exceeded all time-line projections for sales. This success has hastened the development of Phase II in an effort to meet growing demand. Phase II will consist of 61 condominium units. Amenities will include a private urban courtyard with patio, garden, health club, library, billiard room and a multifunction meeting room with a catering kitchen that will accommodate 150 people. The View at the Park offers another amenity—a perfect view of the waterfront’s amphitheatre. Phase III includes plans for a small restaurant/bistro and a rooftop deck with a pool.
However, it should be noted that Morgantown is rapidly reaching the critical mass point and needs infrastructure support from the state. The state needs to treat this region as an investment opportunity because the state will in turn receive a high return rate with long-term dividends.
Charles Pointe, the long anticipated golf course development in the Bridgeport area, is well under way. Plans were recently announced to build 1,500 to 1,700 new homes on the course over a 15 to 20 year period. S & A Homes is the exclusive builder. Jamie Corton and Jennifer Compton Corton are the managing partners of Genesis Partners, the developer of Charles Pointe. They cited the builder’s reputation as a determining factor in selecting the company. Construction on the homes will begin this spring. S & A Homes, headquartered in State College, Pennsylvania, will open a local permanent office, and its staff will oversee both the construction and sales of the homes.
Charles Pointe’s ideal location offers quick interstate access, turning commutes into minutes instead of hours. Developers of this project have stayed true to their vision no matter what the challenges. This is a rare project that could add more than $1 billion to the state’s economy.
Wheeling has experienced citywide, positive changes that are beginning to attract new interest in residential development. The pent-up demand for new housing is there, and the economy is on the up swing. The architect firm of McKinley and Associates should be considered for a point of contact for anyone interested in exploring the development possibilities in Wheeling. The firm has revitalized major buildings in downtown Wheeling and serve on numerous boards within the community, which make them quite informed of the area.
The special request for Wheeling is: please use design restrictions for the development of the highlands, the property across from Cabela’s. I know you are caving to Wal-mart, but do not cave to their low design standards. It would behoove city planners and zoning officials to set some design restrictions for the development of the highlands. Ohio County has a grand opportunity; be strong and demonstrate some resolve. Tamarack North is still a natural match for your region—make it happen!
While the Eastern Panhandle has far too many new projects to list, Ken Lowe, the leading developer in the Eastern Panhandle with more than 30 years of real estate and business development experience, has implemented his innovative approach to commercial and residential development to a new concept that may make West Virginia even more inviting to Washington D.C. consumers. Planning and infrastructure support from the state are key components to maximizing this opportunity.
Due to exciting development of Pullman Square, before the calendar year is complete, Huntington will announce the development of a high-end residential complex with built-in sporting club and spa. The Huntington area is turning the corner and is worthy of strong investment consideration.
I know I am about to suggest is a heroic challenge for someone, but the best time to take on a major task is while you are basking in the success of a recent project. For the necessary community, buy-in is in place, so now is the time to plan and fight for a quick Interstate 64 access route, either off 5th Street or Hal Greer Boulevard. A possible interim solution would be to reduce the number of access roads into Hal Greer and eliminate at least three street lights, thereby, shortening the trip by five minutes. I understand that sections along that way may not present Huntington at its best. However, there are several ways to enhance the route to make it more of a scenic pathway. One approach would be to display a series of sculptures that depict the history of Huntington leaders along 16th Street.
Pullman Square is the necessary cornerstone to return Huntington to its glory days and is worthy of all the support the state can provide. This is a chance for officials in the city of Huntington to work together and be aggressive. It would be wise to invite the developers of the Morgantown Wharf District for a tour of the city.
Construction of the Appalachian Power Baseball Park located near downtown Charleston is well under way and starting to take shape. I believe this will have the naysayers eating crow very quickly. This beautiful park will not only act as another lynch pin in the revitalization of the area, but it will also bring with it retail shops and restaurants, giving this area a similar feel of the Cub stadium area in Chicago.
The latest example of the spirited leadership is creation the new Charleston Area Alliance. Over the years, this will prove to be a great change for this community. Charleston was once the driving force of the state, perhaps they will help it be again.
When it comes to new design requirements for high-end residences, Mike Castle, president of The Phoenix Group, captures it best when he says, “All they want is everything they want.” Simply put, the housing market has officially shifted and people are valuing different qualities, such as:
During the past 20 years, every generation encounters a window of opportunity for dramatic change. West Virginia is in positioned to take advantage of an opportunity for that change because it has visionary leaders and resources in place. The state currently has more young people in its power base than before, and this base of young leaders brings innovative ideas.
There are certain elements in development that signify a time for action, and West Virginia has the following five major factors in place that will insure dramatic growth.
Positive and Aggressive Administration: Governor Joe Manchin has already proven he is the type of leader who can and will accomplish goals quickly. His positive attitude is already paying dividends, such as we saw earlier this year with a resolution to the workers’ comp issue.
During the past 20 years, every generation encounters a window of opportunity for dramatic change. West Virginia is in positioned to take advantage of an opportunity for that change because it has visionary leaders and resources in place. The state currently has more young people in its power base than before, and this base of young leaders brings innovative ideas.
There are certain elements in development that signify a time for action, and West Virginia has the following five major factors in place that will insure dramatic growth.
Positive and Aggressive Administration: Governor Joe Manchin has already proven he is the type of leader who can and will accomplish goals quickly. His positive attitude is already paying dividends, such as we saw earlier this year with a resolution to the workers’ comp issue.
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