Monday, March 24, 2008
Times West Virginian
by Paul Fallon
Bridgeport – Approximately 10 years ago, an idea was developed for a mixed-use planned community along Interstate 79 in Bridgeport. The plan was developed by Genesis Partners, Limited Partnership.
Work began on the development, which soon became known as Charles Pointe, in 2000. Charles Pointe was named after the late Charles “Jim” Compton of Bridgeport, who founded Grafton Coal. Almost eight years after the project began, it continues to grow by leaps and bounds, according to James Corton, managing partner with Genesis.
“We are ahead of schedule with construction,” he said.
Charles Pointe is made up of hotels, a conference center, a daycare center, a doctor’s office as well as a Buffalo Wild Wings Grill and Bar among other establishments. The planned community also has residential space. The master plan for the development allows for a total of 2,281 residential units covering almost 1,700 acres of land in both portions of the community – Charles Pointe North and South, said Rob Stuart, director of development with Genesis Partners.
“Homes have already been sold in two neighborhoods,” Corton noted. “And we already have people living there.”
The neighborhoods are made up of condominiums, duplexes and single-family homes. The community will also incorporate more than 2 million square feet of non-residential space when completed. According to Stuart, around 270,000 square feet of non-residential space has been completed or is under construction now. The entire development lies within the Bridgeport municipal limits, Corton said.
Marketplace at Charles Pointe is also currently under construction at the development, Corton said. Marketplace will feature six buildings with more than 230,000 square feet of office, retail and residential space.
“The first building at Marketplace is scheduled to be completed by the fall of 2008,” Corton noted.
He added that firm leases are in place already. However, limited space is still available.
“It’s coming right along,” Corton said.
Charles Pointe is not just made up of office space, eateries and homes. Upon completion, 30 percent of the development is made up of what Stuart called “green space.” This means that the development will have several parks and trails. All of the trails and sidewalks are connected, Stuart said.
“We see all kinds of people walking around the neighborhoods right now,” Stuart said.
Charles Pointe has been developed according to the master plan. All of the infrastructure, such as sewage, water, gas and electricity, has already been installed, Stuart said. All of the environmental permitting is also in place, he added.
“We do everything right or we don’t do it,” Corton said.
All of the utilities in the development are underground. Fiber optics have also been installed.
“All of the Internet access is high speed,” Corton said.
Sales at the development are also progressing well, he added. According to Corton, approximately $4.4 million worth of commercial land was sold this year.
“We really have a lot going on,” Corton said.
The project does require a great deal of funding, Corton added. However, a $33 million bond deal was closed recently to help fund the project.