Cold Spring made more headway on Cold Spring Pointe, a potential mixed-used development across from the Meijer Shopping Center in the central Campbell County city, at a Wednesday meeting.
The Cold Spring Planning & Zoning Commission approved a zone change Sept. 13 for approximately 70 acres of land located along the southeast corridor of Alexandria Pike and the AA Highway that would be the future site of Cold Spring Pointe.
Cold Spring City Council will hear a presentation and vote on the zoning change before it is finalized.
“The zone map amendment is really the first part of this project,” said Campbell County Planning and Zoning Principal Planner Kirk Hunter.
Cincinnati-based real estate developer Midland Atlantic Properties, the firm responsible for the plan, requested the zone change for a proposed multi-tenant mixed-use development on the land. Midland plans to use approximately 53 acres for the development, according to public documents distributed at the meeting.
Plans include a space for a 48,840-square-foot anchor grocery store, as well as two spaces for big box retailers. The complex will also include a professional office building on the north end of the site. Those buildings will be surrounded by a total of 1,025 surface parking spaces and parcels for restaurants and other retail outlets.
On Aug. 1, Cold Spring City Council approved up to $80 million worth of Industrial Revenue Bonds to finance the project.
The Planning & Zoning Commission vote effectively consolidated existing zones. Specifically, the affected zones changed from residential rural-estate, residential-one and residential-three to mixed-use development and highway commercial-two zones.
The Future Land Use Map of Campbell County identifies the area as “urban-mixed use.” Under Cold Spring Planning & Zoning regulations, designated mixed-use developments allow for a variety of residential, professional office and commercial uses such as grocery stores, pharmacies, and hobby and craft stores.
The site is currently engulfed by woods. It includes two roads — Rocky View Drive and Harvest Trail — two apartment buildings and multiple homes. Outlines of the development plan show there will be no access to Cold Spring Pointe from the AA Highway – only from Alexandria Pike.
Before zone amendment, the proposed development site ran across multiple different zoning districts. The City of Cold Spring is in the process of annexing a large section of the site that is currently unincorporated land. Once completed, the entire site will be within the city limits of Cold Spring. The annexed property was included within the approved zone change.
On Tuesday, WCPO reported that the site’s plan is consistent with other developments that feature Publix, a Florida-based supermarket chain. As of now, there has been no confirmation on what grocery store chain will anchor the development. Midland Development Manager Clayton Riney confirmed to LINK nky that there hadn’t been any official commitment from potential tenants.
The plan for the Highway Commercial-2 zone includes a gas station on the site.
Regarding a timeline, Midland’s plan will undergo a first reading at the city council meeting on Sept. 25. The project is slated to be built in stages. Riney laid out a tentative timeline during the meeting:
Timeline
- Sept. 25: first reading.
- October: second reading.
- Spring 2024: construction begins.
- October 2025: first wave of tenants opening.