{"id":1004048445,"date":"2012-10-16T06:23:44","date_gmt":"2012-10-16T14:23:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004048445"},"modified":"2022-12-03T05:39:08","modified_gmt":"2022-12-03T13:39:08","slug":"jll-joins-team-developing-1b-m-u-in-w-va","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-joins-team-developing-1b-m-u-in-w-va\/","title":{"rendered":"JLL Joins Team Developing $1B M-U Project in W. Va."},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004048458\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-joins-team-developing-1b-m-u-in-w-va\/jll-w-va-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg\" data-orig-size=\"1461,1204\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"JLL W Va\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg?w=1024\" class=\"alignleft  wp-image-1004048458\" title=\"JLL W Va\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg\" alt=\"\" width=\"520\" height=\"428\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg 1461w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg?resize=300,247 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg?resize=768,633 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/JLL-W-Va2.jpg?resize=1024,844 1024w\" sizes=\"auto, (max-width: 520px) 100vw, 520px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The developer of a 1,700-acre, $1.4 billion master-planned project in central West Virginia has recruited Jones Lang LaSalle to help push the development forward over the next decade, JLL announced last week.<\/p>\n<p>The project, Charles Pointe, was set in motion by developer Genesis Partners, of Bridgeport, W.Va., and is West Virginia\u2019s largest master-planned community and believed to be the largest multi-use development public-private partnership in the United States. Jones Lang LaSalle and Genesis Partners will serve jointly as project development manager and lead brokerage team for the project.<\/p>\n<p>Charles Pointe, also in Bridgeport, is part of the state\u2019s I-79 High-Tech Corridor, which is already home to oil and gas companies, federal agencies including NASA and the FBI (which employs about 2,500 personnel in the region), and life-science and other high-tech companies, as well as North Central West Virginia Airport, currently being expanded.<\/p>\n<p>So far, Genesis Partners has developed more than 250,000 square feet of office and retail space, two hotels and a conference center, recreational facilities, educational facilities, community parks, and more than 200 residential units.<\/p>\n<p>Still to come are:<\/p>\n<ul>\n<li>\u00a0Additional retail space, including several shopping centers and a \u201crestaurant row\u201d<\/li>\n<li>\u00a0A total of 660 guest rooms<\/li>\n<li>\u00a0Roughly 1,800 more housing units, a mix of multi-family and single-family at various price points<\/li>\n<li>\u00a0A 40-acre resort co-located with a conference\/civic center complex<\/li>\n<li>A health\/wellness facility<\/li>\n<li>\u00a0A baseball stadium and sports complex that will be home to local minor league baseball and hockey teams.<\/li>\n<\/ul>\n<p>Infrastructure work at Charles Pointe began about 12 years ago, a JLL spokesperson told <em>Commercial Property Executive<\/em>, while preliminary planning for the development was in its early stages. Over the past decade, about 10 percent of the planned retail, residential, recreational and commercial vertical development has come to fruition. From today, Charles Pointe has an estimated 10-year horizon to complete buildout.<\/p>\n<p>JLL was brought in at this point in the process, according to the spokesperson, because the completion of the site\u2019s infrastructure \u201chas coincided with the national economic recovery turning a corner\u201d and because Genesis Partners was looking for additional development management, finance and brokerage capabilities as vertical development at Charles Pointe accelerates over the next few years.<\/p>\n<p>\u201cCharles Pointe has geography, infrastructure and demographics on its side,\u201d Mike Elliott, the Jones Lang LaSalle brokerage team leader for Charles Pointe, told<em> CPE<\/em>. \u201cPeople are already coming to the development from 30 to 60 minutes away, creating attractive demographic numbers for retailers, sports arenas and hotels. At the same time, corporations, particularly those in the energy and government service sectors, are attracted to this location and its highly redundant infrastructure.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genesis Partners has recruited JLL to help push forward what is believed to be the largest multi-use development public-private partnership in the nation.<\/p>\n","protected":false},"author":882,"featured_media":1004048458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,21752,21742],"tags":[],"class_list":["post-1004048445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-mixed-use","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JLL Joins Team Developing $1B M-U Project in W. Va. - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-joins-team-developing-1b-m-u-in-w-va\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Joins Team Developing $1B M-U Project in W. 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