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Alexander Farms build-out worth over $110 million

Rendering of the food truck plaza

By Dave Yochum. A mixed-use project planned for the last undeveloped farm on the west side of I-77 in Cornelius will resemble Birkdale, but with a twist.

The residential component of Alexander Farms will target active adults—even oldsters—with a hip mix of amenities, including a food truck plaza, senior housing options, retail and restaurants—as well as offices, greenway access and places for the entire community to gather.

Win Development plans more than $110 million in development on the 54-acre farm, which was last on the market for $12 million with Knox Group Realtors in Birkdale.

Site Plan shows interior street

Win put the property under contract last year; former Mayor Gary Knox had the listing.

“We wanted to create a walkable, mixed-use community that retains the rural character of Alexander Farm,” said Jesse McInerney, managing partner at Win Development, based in the Tampa/St. Petersburg market.

The company has developed 74 commercial properties around the country.

In this particular project—it caught the attention of residents because it was actively farmed up until only a few years ago—Win will partner up with Resort Lifestyle Communities.      

The company has developed dozens of age-restricted independent living “resorts” across the United States.

Their building on the Alexander Farms site would have 130 units, with all inclusive fees, renting out in the $3,000-a-month range. Amenities include a 150-seat theater, valet parking and a chef.

Age-restricted single-family residences on the property would range in price from the high $300,000 range to the mid-400s. Like Birkdale, the project features an internal main street for restaurants, retail and offices, including spaces for food trucks, water features and outdoor performances.

The potential office pad is valued at $8 million, with various retail adding up to about $33 million.

The Resort Lifestyle building will be valued at around $45 million at build-out.

Win has hired Bartlett Hartley & Mulkey, a Charlotte architecture firm, and Cole Jenest & Stone, a landscape architecture and civil engineering firm based in Charlotte.

Convenience Development Partners is also part of the development team. Right now a gas station convenience store is part of the project, which is still in the planning and review stage.

The first official review by the Town Board is Aug. 5.

Together and independently, Win has developed Walgreens and grocery-anchored developments, including at least 15 Publix anchored centers.

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