Volume 17, Issue 3 | Download
When is 50% more than 100%?
by Jay Winer
At a recent meeting of the West County Chamber’s Economic Development Committee, the topic of priority projects for the Odenton Town Center area was raised. It turns out that the Odenton Town Plan Oversight Committee (appointed by the County Executive) is to provide the list of needed projects to the County annually as called for by the Town Center Plan. Moreover, the Director of Planning and Zoning is to include this information in his annual report of progress in town center development.
The list of projects critical to build out the town center is long and getting longer with each plan for public improvements the County develops. Most are transportation projects and most are also unfunded. One might glean this from attempting to read and more importantly, understand the Anne Arundel County budget, a document almost universally described as impossible to understand.
How will we ever get the necessary improvements built to support the planned growth? The County’s answer appears to be to do so through impact fees paid by every development. Impact fees are designed to help build off-site improvements and public safety upgrades necessitated by the project itself. These fees were recently tripled based on the County’s finding that developers were not “paying their fair share”. When added to the long list of water and sewer connection fees, permit fees, storm water fees and many, many more, the sum total of fees paid by developers in Anne Arundel County is 3 to 5 times higher than any of our major surrounding jurisdictions.
This got me thinking about the County’s competitive position, or lack thereof when it came to revenues and jobs in this unhappy economy for most everyone. Looking at just Howard County, it appears the commercial building permits issued during just the second quarter of 2011 were four to five times the number issued in Anne Arundel County. The largest amounts of fees associated with any project in Anne Arundel County are paid at the time building permits are issued.
So, how will the necessary infrastructure to support the build out of the “top priority” town center for Anne Arundel County get built when not enough fee income is being generated from permits? Let’s assume for a minute that there are actually valid reasons for Anne Arundel County charging many times more than other jurisdictions for development. How about an aggressive strategy for a specified period of time to forgo or defer major portions of the normal fees in order to incentivize new projects? I still remember my uncle’s words to me, “sometimes 50% of something is worth a whole lot more than 100% of nothing.”
When is 50% More Than 100%? | What Has AJP Been Up To? | Did You Know? | Celebrating New Development
What Has AJP Been Up to?
by Stuart Title
As the year ends it is a good time to reflect on what has transpired over the course of the past year. Several projects in the Odenton Town Center that we have been involved with on various levels over the past few years are finally under construction:
- The Village at Odenton Station adjacent to the MARC station is well under construction with apartments and retail necessary to attract some of the fresher retail concepts.
- Town Center Commons had its first 10 residents take ownership in August with the second of eight buildings under construction and 80% pre-sold. The fully approved adjacent hotel site is still available.
- Former Exxon Station is being adaptively renovated for a 7-Eleven corporate store and should be open in December.
- Columbia Bank will soon be under construction at Seven Oaks Shopping Center as financial institutions continue to target the market.
- Odenton Health and Technology Campus’ third building is now 25% pre-leased and under construction in spring.
In addition to AJP’s development and brokerage work in and around Odenton, we are committed to our corporate responsibility to the community. Our owners and staff are involved in:
- Anne Arundel Community College Foundation Board
- Fort Meade Alliance Board
- Central Maryland Regional Transit (CMRT) Board
- West Anne Arundel Chamber of Commerce Board
- Regional Growth Management Committee (RGMC)
A. J. Properties is committed to not only working in, but being part of the West Anne Arundel community. For any of your commercial real estate needs such as selling or leasing your property, real estate asset management, consulting on maximizing your real estate asset and/or development, do not hesitate to contact us or say hello if you happen to see us about town or at one of the above organizational meetings.
Please have a wonderful and safe upcoming holiday season!
When is 50% More Than 100%? | What Has AJP Been Up To? | Did You Know? | Celebrating New Development
Did You Know?We launched our first e-edition of The A. J. Advisor. If you didn’t receive it via email, sign up now at the top of this page! |
When is 50% More Than 100%? | What Has AJP Been Up To? | Did You Know? | Celebrating New Development
Celebrating New Development
in Western Anne Arundel County
by Michele Waits
The West County Chamber of Commerce recently held their seventh Tour West County Expo & Developer Showcase. This year’s Expo was held at the brand new Seven Oaks office building – Suite 300 – across from Ft. Meade. Several hundred people came out to visit business booths, hear Rory Robertie of NSA and take a bus tour to see all that is happening in the way of development here in western Anne Arundel County (retail, residential, office: casino, theater, medical, government). Arundel High School students, under the leadership of Barbara Dziedzic, also participated again this year as part of their signature program: Community Development and Global Citizenship.
Ellen Miller of StonebridgeCarras and I chaired the event and we wanted to add a bit of ‘huzzah’ for all the ground that has finally been broken and construction begun. We presented small burlap sacks of earth with a gold shovel and congratulatory ribbon to those who have recently completed or are underway on their development projects. I know firsthand A. J. Properties has worked long and hard on Town Center development and we are excited to see dirt moving and projects bringing new life to the area!
AJP’s own Stuart Title was a recipient for both of his developments: Town Center Commons and 7-Eleven. View all Town Center developments on our interactive map accessed from the home page or under the Odenton Town Center Tab.
