Fox Creek mixed-use building breaks ground

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— A new project on Hilltop Parkway will offer residents and businesses another centrally located real estate option.

Developers last week broke ground on the Fox Creek Park mixed-use building next to the Australia Steamboat Connection building.

The three-story building will have seven residential condominium units and 30,000 square feet of commercial space geared toward offices and retail-oriented businesses.

The 12 commercial units, which will range from 2,000 to 3,000 square feet, will be priced at about $200 per square foot unfinished, said Sara Ross, who is in charge of sales and marketing for the project.

There also will be lease and lease-to-own options.

"I feel the timing is really right because although there is a lot of commercial space being built, a lot of it is retail-oriented and for lease," said Dave Dooley, who is building the project with partner David Tolson of Washington, D.C.

"As far as office space and destination retail, there hasn't been virtually any project addressing that need."

On the south side of the building, the main floor will have a covered boardwalk and large windows ideal for retail stores and showrooms, Ross said

The ground-floor and main-floor units on the north side of the building will face Fox Creek, as well ,as a park with gazebo and natural walking path. The units also will have covered storefronts.

The quieter atmosphere on the north side of the building caters more to professional offices and non-retail businesses, Ross said.

The exterior of the building will be similar to the Australia Steamboat Con--nection building. Architect Mike Olsen designed both buildings. Jim Stegmaier is the engineer on the mixed-use project.

Developers can build spaces to buyers' size needs, combining vertical or horizontal spaces.

"We can do multiple options to meet their needs," said Ross, who also will do a financial analysis for businesses that are on the fence about whether to buy or lease.

Another perk to the commercial spaces is that each allows one residential apartment to help accommodate business employees or owners in a live/work situation.

And with 200 parking spaces planned, parking should not be a hassle for employees or residents.

Depending on interest, developers also may subdivide a unit in the building for "geek suites" or personal office spaces for lease, Dooley said.

The live/work apartments would be separate from the condo units.

The condos will

be 900 to 1,800 square feet. Devel--opers are establishing finishes and details for those units and have not released prices.

"We anticipate they will be priced at a point that will sell out very fast," said Dooley, noting there already is a waiting list of potential buyers.

Ross launched sales of the commercial units this week. There's been a high level of interest, said Ross, who expects several spaces will go under contract as early as this week.

If construction proceeds according to plan, the project should be completed within the first several months of 2006, she said.

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