Albemarle approves annexation, rezoning request for proposed 180 unit development
Published 9:17 am Wednesday, May 25, 2022
The Albemarle City Council recently approved an annexation of about 14 acres of land along U.S. Highway 52 South near the corner of Morgan Road for a proposed cluster subdivision. It then voted to rezone 22 acres of the land as R-8 Neighborhood Residential District.
The subdivision, which still needs to come before council for approval, would include up to 180 2,000-square-foot lots which would be turned into single-family attached townhomes.
Planning staff calculated that the subdivision could bring in anywhere from 194 to 506 new residents to the city once it’s fully built and add as much as $416,000 to the city in terms of projected annual revenue.
The tract of land the applicant, Cornelius-based Prestige Corporate Development, wanted annexed consists of three parcels, which had been entirely within county limits. The properties are not located in a regulated floodplain or watershed district.
The city’s Planning and Zoning Board on May 5 unanimously made a favorable recommendation for Council to approve of the rezoning.
The proposed subdivision would feature about eight acres of open space along with amenities such as a pool and cabana and playgrounds. An HOA would also be created.
The development comes during a time when many people are moving into the area, looking for good housing options.
Lee Allen, broker and owner of Re/Max Executive, mentioned Albemarle has become a key destination for people looking to leave larger areas like Charlotte, wanting to trade a commute for affordability.
There are currently around 100 active listings in Albemarle, with few less than 10 years old, Allen said, noting “there’s a dearth of new construction necessary.” In the last 12 months, he added, the average median price has increased from $285,000 to $326,000.
A previous traffic impact study was performed for this property with the same levels of development currently proposed. Initial numbers provided to planning staff show the level of service on DOT streets being maintained as is. This included turn lanes at U.S. Highway 52 and a left turn lane from Morgan Road.
After hearing from the relevant parties and following the public hearing, Councilwoman Martha Sue Hall offered a motion to approve the rezoning request, which was seconded by Councilman Benton Dry. It was unanimously approved.