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Technical Analysis |
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MCCRIMMON STATION AREA
While the station area is well-positioned from a
regional market demand perspective, Morrisville
will need to create a sense of destination locally to
maximize demand potential. With proper design
Wake Tech’s campus and the planned RTP park can
help create synergy with the McCrimmon site.
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Morrisville will need to “amenitize” the
location beyond commuter/light rail
for demand potential to be realized &
maximized.
This includes fostering the creation
of “location” through a public park/town
green, potentially some type of civic anchor,
implementation of design guidelines, and
controlling/taming parking and road sizes.
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Given achievable rents and prices,
development formats will largely be
horizontally-integrated,
with the possible
exception of limited retail under residential and
some small office “above the shops.”
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To encourage development potential,
Morrisville
should implement strategies to expedite
permitting and entitlements and remove
political uncertainty
from the development
process, in part through adopting the
aforementioned design guidelines.
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Commuter rail will enhance the attractiveness
of the study area for development, but will
not be a necessary driver of demand,
with
highway access and other location and market
factors having more significant impacts on
demand potential.
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An over-abundance of non-residential land,
partially dictated by flight contour/noise issues
may result in the
remainder of “unused” acres
(for transit-supportive uses) being absorbed
for one-story flex office space.
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Additional support exists for multifamily and
townhouse development east and north of
NC 54
should residential opportunities arise in
that area (and noise issues be addressed).
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Given the current inability to develop residential
north/east of NC 54 and the lack of non-
residential support to fully absorb available
commercial acres, we believe
the over-whelming
majority of commercial development must
occur north and east of NC 54
with only
minimal commercial space being provided to the
west and south.