Equity Sought for Texas Retail Project

A joint venture is looking for an equity partner to build a retail property near Austin without debt. Corner on Main, a planned 48,000-sf neighborhood center in the fast-growing suburb of Buda, is expected to cost $20 mil- lion to $25 million. The partnership, between Atco Properties & Management of New York and Austin-based CLD Realty, wants to fund that entirely with equity to avoid the volatile capital markets. Hodges Ward Elliott has the assignment.

Construction projects rarely are fully funded with equity, but the sales pitch for Corner on Main is that the approach is justified by the outsize returns investors can achieve building necessity retail in a booming suburb. That's particularly true as lenders continue to crimp their allocations for commercial real estate amid a broader market drop in property valuations.

The pitch highlights the strength of Buda, which has seen its population grow 121% since 2010, outpacing surrounding Hays County and the Austin metropolitan area, which grew 36% over that period. Multi-tenant retail properties in the Buda submarket are 100% leased.

Corner on Main, slated to comprise seven buildings, is about one-third preleased. It's at 2260 Main Street, at the corner of Fire Cracker Drive and near Interstate 35. The property is adjacent to Sunfield, a 2,700-acre master-planned community projected to have some 15,000 residents once completed. Average household income within a mile of the project is more than $132,000.

Downtown Austin is 13 miles north.

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Damon Hemmerdinger
Atco Properties talks plan for first Camp North End apartments as project breaks ground

Work on Camp North End's first apartment community is underway.

Kinship is a two-building, 240,390-square-foot project that will bring 301 units to the Atco Properties & Management's adaptive-reuse development in the city's North End. Damon Hemmerdinger, co-president of Atco Properties, said multifamily development was always part of the plan for Camp North End.

"We’re trying to create an environment that is active and dynamic all the time, and residents are always an important component of that," he said. "Bringing them onto the site itself is a way to make sure there is vitality for the retail business on site and provide another housing choice for folks living in Charlotte."

Kinship, located at 110 and 115 Razades Way, is slated to deliver in early 2025. The project cost was not available. Hemmerdinger said the plan is to eventually develop up to 1,800 total units on the site.

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Damon Hemmerdinger
How couple’s first date led to opening ice cream shop, Seemingly Overzealous, at Camp North End

Garrett Tichy and Jessica Berresse’s first date included taste-testing an ice cream flight — complete with an option created by Tichy.

Now, the couple is set to open their own ice cream shop, called Seemingly Overzealous. That 700-square-foot venture opens on May 20 at Camp North End. It’s located at 701 Keswick Ave., Suite 102.

It all started when the duo met via Instagram during the pandemic. Tichy had turned to baking and making ice cream to fill his time; Berresse offered to be a taste-tester. Their relationship stuck — and so did the ice cream, with a focus on making it approachable to all. They called on friends to become taste-testers before turning to online sales.

Seemingly Overzealous is focused on high-quality, dairy-free options. Expect standard flavors such as vanilla, chocolate and mint chocolate chip, as well as creative combinations like strawberry pretzel crunch, banana pancake, peanut butter & jelly, Earl Grey and toasted coconut and almond, in the opening lineup. Flavors will rotate monthly.

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Damon Hemmerdinger
Hex Coffee’s new space will open soon at Camp North End in Charlotte

Hex Coffee Kitchen & Natural Wines expects to open next month at its new, larger spot in Camp North End. 

The full-service restaurant’s breakfast and lunch menu will focus on Japanese-inspired breakfasts and popular items from Hex’s other restaurant concept, Stable Hand, such as avocado toast and porridge bowls. Hex and Good Bottle Co. opened Stable Hand three years ago on Remount Road in South End. 

In the evening, Hex Coffee Kitchen will shift to bar snacks and a chef-created small plate menu that will complement natural wines.

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Damon Hemmerdinger
Coming soon to Camp North End: In-person SkillPop classes with Charlotte experts

SkillPop is switching things up. Starting Wednesday, Feb. 22, you’ll be able to attend its expert-led classes and workshops in person at Camp North End.

Haley Bohon founded the company as a pop-up in 2015, but since 2020, SkillPop Anywhere has served customers virtually with classes on cooking, photography and knitting, as well as business-focused workshops on networking, sales tactics and more. 

Now, the company is transitioning into a hybrid model. In addition to the Camp North End classes, SkillPop will also offer a subscription-based “Class of the Month” for virtual learners.

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Damon Hemmerdinger
Bolton & Menk to double Charlotte office space with move from uptown to Camp North End

Bolton & Menk, a Minnesota-based civil engineering firm, is establishing Charlotte as its permanent Southeast headquarters with a move into Camp North End's Gama Goat building.

The decision comes on the heels of the 2021 merger between Bolton & Menk and Charlotte-based professional services firm ColeJenest and Stone. The newly combined firm signed an 11-year lease for 24,600 square feet of office space at 1701 N. Graham St., the northern portion of the 140,000-square-foot adaptive-reuse building.

About 55 employees will work from the new office when it opens in mid-2023. The firm is moving from its space at 200 S. Tryon St., which ColeJenest and Stone has occupied for about 20 years.

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Damon Hemmerdinger