Latest news with #DevelopmentandConstruction
Yahoo
19-03-2025
- Business
- Yahoo
Huntersville leaders approve boutique hotel, parking deck and more for Birkdale Village
HUNTERSVILLE, N.C. (QUEEN CITY NEWS) — More than 30 people tried swaying town leaders' decisions on new development in Birkdale Village. While most town commissioners voted for the proposed plan, neighbors still left feeling unheard — even after representatives from Birkdale's management firm answered their concerns during Tuesday night's meeting. 'I was just on Sam Furr Road today… It's packed,' one woman said. 'So I ask if we already have pedestrian-friendly hotels approved for the area serving visitors without adding congestion in or parking string in Birkdale Village. Why approve another hotel that disrupts local businesses and adds unnecessary traffic to the area?' another man said. Huntersville neighbors will soon see new construction in Birkdale Village bringing a hotel, office building, new parking decks, and multi-family housing. But people in the community have mixed feelings about it, with many hoping to keep Huntersville's small-town feel. David Krug owns buildings along the road where the development will be, he – like many who visit the iconic mixed-use village — is concerned about parking. 'We're totally dependent upon the parking that Birkdale built. We paid for it,' he said. 'We paid for it and the purchase price of the land, and we pay for it in community maintenance charges and then they're going to take it away. You know, it's just totally unfair. It's unreasonable.' Representatives from the Jamestown Real Estate Management Firm say the original vision for Birkdale Village was planned in 1999. It then included plans for a hotel, multifamily, and office. They say this rezoning is the next step in achieving that vision. 'I am excited for my business,' one businesswoman said in support of the proposal. 'Partners who travel from a corporate office will have a boutique hotel experience here in town and they won't fever our South Park location to where they have to have the full-service hotel experience there. They'll be able to bring their business here.' After nearly two hours of public comment, town board members asked for more reassurance from the developers about parking, hotel usage, and other concerns — before taking their vote. 'For this board to ignore the next phase in its evolution would simply be short-sighted,' said Commissioner Nick Walsh. 'Change is hard for some people. I get that this board has shown that it has the vision to do the right thing and approval.' Commissioner Amanda Dumas was the lone dissenting vote. 'Tonight, the Town of Huntersville voted in favor of progress, aligned with its 2040 Comprehensive Plan,' said Jamestown Director of Development and Construction Frances Bohn. 'We commend the town board for its forward-looking leadership and are grateful for the opportunity to continue investing in Huntersville.' Commissioners negotiated with the developer to aid with building a pedestrian bridge across Sam Furr to help with traffic congestion. Leaders say Birkdale Village went from being the third-largest tax producer in 2014 to the largest producer in 2024. Mayor Pro Tem Jennifer Hunt wanted neighbors to understand that commissioners do listen to constituents and they have listened on this proposal, but that doesn't mean it'll always end in agreement. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Zawya
28-02-2025
- Business
- Zawya
Umm Al Qura IPO 241 times covered by institutions: IFR
Saudi investors showed their desire to back fundraising IPOs – rather than just sales of existing shares – with an enormous book for the listing of Umm Al Qura for Development and Construction. Umm Al Qura priced its Tadawul IPO at the top of a narrow SR14–SR15 range after the deal was 241 times subscribed. The 130.8m primary share offer, for a 9.1% free-float, gives a deal size of SR1.96bn (US$523m) that values the company at SR21.58bn. A retail offer for up to 10% of the shares will follow from March 5–9. Final allocations will be confirmed on March 13. The capital raise will support the group's Masar Destination project in Mecca, which will see the redevelopment of an area stretching more than 3.5km with a mixture of tourist and residential accommodation as well as retail outlets and public amenities. The project is closely tied to Saudi Arabia's Vision 2030 programme of economic diversification and aims to capitalise on rapidly growing tourist and pilgrim demand in Mecca. Albilad Capital is lead manager, and joint bookrunner with Alinma Investment Company, Al Rajhi Capital and GIB Capital. Lazard is advising.
