MIXING BUSINESS AND . . . HOUSING?
A massive rezoning of the 535-acre Ballantyne Corporate Park will include something park owner The Bissell's Cos hasn?t tried at its signature development: 600 multifamily units.
High-density housing could take the form of apartments, condos, or some combo, Bissell prez/CEO Ned Curran tells us. He recently reviewed the larger game plan at a breakfast meeting for about 150 Ballantyne-area stakeholders at the Ballantyne Hotel & Lodge. Bissell is seeking a zoning change to expand the park?s entitlements to include more than 1M SF of new office space and 200 hotel rooms. (The company already may build up to 5.5M SF of offices and 700 hotel rooms.) Bissell's request is scheduled for public hearing in July, with a decision anticipated in September.
Bissell's goal is to position the park for the future, providing a more dense, urbanized feel, Ned says. The multifamily units would likely be incorporated into a new parking deck or office building, in keeping with Bissell's ambitions to maintain open space within the corporate park. As part of its proposal, Bissell says it will pay $11M toward new road improvements. That amount would then be reimbursed by the city and county through a return in the anticipated increased tax revenue generated over 15 years.