Oak Ridge Today

Protomet announces $30 million, 200-job expansion, but moving is an option

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Protomet-Walt-Weaver-Feb-2-2016

Protomet Corporation on Tuesday, Feb. 2, 2016, announced a $30 million, 200-job expansion, but the landlocked company could move to another county—or even another state. Pictured above is Protomet production associate Walt Weaver. (Photo by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 11:35 a.m. Feb. 3.

Protomet Corporation on Tuesday announced a $30 million, 200-job expansion, but the landlocked company could move to another county—or even another state.

Protomet is now located in the Bethel Valley Industrial Park in south Oak Ridge.

The company hopes to break ground on the 100,000-square-foot expansion in June and plans to add 200 new jobs during the next five years. Protomet now has 70 workers in a 40,000-square-foot building on eight acres, so the company would more than triple in size.

Besides staying put, Protomet is also looking at sites in Roane County (the Horizon Center in west Oak Ridge), Loudon and Monroe counties, and South Carolina. The company is looking at some tracts of land outside Anderson County that are more than 25 acres. Protomet needs about 25-30 acres for the expansion, and right now, it doesn’t have it. [Read more…]

Protomet needs land for expansion, could add 100 jobs, invest $15-$20 million

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Protomet Expansion Groundbreaking

Protomet breaks ground on a $6.25 million expansion in the Bethel Valley Industrial Park in June 2013. Pictured above from left are Operations Director Andrew Jenkins and Engineering Director Matt Reid of Protomet; LeRoy Thompson, Tennessee Department of Economic and Community Development regional director; Protomet President Jeff Bohanan; Sherry Browder, Oak Ridge Economic Partnership chair; former Oak Ridge Mayor Tom Beehan; and David Wilson, Oak Ridge Industrial Development Board chair. (File photo from June 2013 by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 6:30 p.m.

An Oak Ridge company that is considered a success story and has already expanded once in the past few years is considering expanding again, possibly investing $15-$20 million and adding 100 jobs, officials said Monday.

But Protomet, the company, is landlocked at its eight-acre site at Bethel Valley Industrial Park, so the Oak Ridge Industrial Development Board will ask the U.S. Department of Energy to consider transferring or leasing up to 40 acres west of the park that could be used for the expansion.

Protomet broke ground on a $6.25 million expansion of its manufacturing facility in June 2013, allowing the company to more than double its space, consolidate operations with a Blount County facility, and expand production.

The expanded facility was expected to have more than 40,000 square feet and bring more than 30 jobs to Oak Ridge. It was the second multi-million dollar investment at the company’s Oak Ridge site. [Read more…]

Another sign of progress: Workers install new sign announcing Main Street Oak Ridge

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Main-Street-Oak-Ridge-Sign-Dec-21-2015

Workers from Masstar Signs of Greenville, S.C., install a new shopping center pylon sign at South Illinois Avenue and East Tulsa Road that announces Main Street Oak Ridge, the planned $80 million redevelopment of the former Oak Ridge Mall. Pictured above on Monday, Dec. 21, 2015, is Will Biggs of Masstar Signs. (Photo by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 3:30 p.m.

They tore down the old Oak Ridge Mall sign on Wednesday and erected a new shopping center pylon sign on Monday. It announces Main Street Oak Ridge, the planned $80 million redevelopment of the former Oak Ridge Mall.

Although it appears a small step to some, it is another sign of progress on the long-awaited, eagerly anticipated redevelopment of the mostly empty mall. It’s actually the biggest visible change at the mall property in years.

Local officials pointed out that the sign change wouldn’t have happened without the approval of the current owner, Oak Ridge City Center LLC. Also, the change presumably required the new developer, RealtyLink of South Carolina, to spend some money on the sign and its installation, officials said. [Read more…]

New developer plans to close on former mall on Dec. 15

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Neil Wilson of RealtyLink at Rise and Shine on Nov. 3, 2015

Neil Wilson, left, principal of RealtyLink, gives an update on the redevelopment of the former Oak Ridge Mall at an Oak Ridge Chamber of Commerce Rise and Shine at TNBank on Tuesday, Nov. 3, 2015. (Photo by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 11:15 a.m.

The new company leading the project to redevelop the former Oak Ridge Mall plans to close on the property on December 15, an executive said Tuesday. It’s the first time a closing date has been announced by one of the developers associated with the project.

The new developer, RealtyLink, plans to have a minimum of seven stores open by Christmas 2016, Principal Neil Wilson said. That would include four stores adjacent to Belk and two adjacent to Walmart.

Wilson declined to name the stores but said the new mixed-use development, called Main Street Oak Ridge, could include a sporting goods store, a cosmetics retailer, one or two apparel merchants, and a 20,000-square-foot electronics shop that has signed a letter of intent. There could be a total of about 150,000 square feet of retail in those stores. There are roughly 130,000 square feet of retail at JCPenney and Belk, which will have a new facade and entrance.

Wilson said his company, which is based in Greenville, South Carolina, wants to start demolition on the enclosed spaces between the two remaining anchors, Belk and JCPenney, the day after it closes on the purchase of the roughly 60-acre property in the center of Oak Ridge. [Read more…]

Mall demolition could start end of Nov., eight new stores could open by Christmas 2016

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Sears at Oak Ridge City Center

Demolition work at the former Oak Ridge Mall could start at the end of November at the former Sears store, and eight new stores could open at the redeveloped 60-acre site by Christmas 2016, officials said Monday. (Photo by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 6:55 p.m.

Demolition work at the former Oak Ridge Mall could start at the end of November at the former Sears store, and eight new stores could open at the redeveloped 60-acre site by Christmas 2016, officials said Monday.

RealtyLink, the new master developer announced in September, has been looking at the mostly vacant shopping center in the heart of Oak Ridge since 2009. They replace Crosland Southeast, which had been working on the $80 million redevelopment project for more than two years.

RealtyLink, which is based in Greenville, South Carolina, hopes to close on the property, which is now owned by Oak Ridge City Center LLC, at the end of November.

A demolition permit has already been issued, but it’s not in RealtyLink’s name. [Read more…]

Some minor changes, but Main Street project still expected to open for Christmas 2016

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Main Street Oak Ridge Belk on March 2, 2015

Construction for the redevelopment of the former Oak Ridge Mall could start first near the Belk store, the city’s retail consultant said this month. (File photo by John Huotari/Oak Ridge Today)

 

There have been some minor changes to the plans, but the new developer at Main Street Oak Ridge still plans to open the retail-driven, mixed-use development by the Christmas 2016 holiday season, the city’s retail consultant said last week.

RealtyLink, the new South Carolina-based developer, took over as master developer in September, replacing Crosland Southeast, the firm that had led the redevelopment effort for more than two years.

Oak Ridge retail consultant Ray Evans said RealtyLink has a good relationship with Crosland, a North Carolina-based company.

“They have essentially picked up where Crosland left off,” Evans said.

RealtyLink has plans for about 60,000 more square feet of retail than Crosland did, giving the project a total of about 460,000 square feet of retail, including in the two remaining anchors, Belk and JCPenney. [Read more…]

IDB to consider financing-related resolution for Main Street Oak Ridge on Monday

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Oak Ridge Mall

The Oak Ridge Industrial Development Board will consider a financing-related resolution for Main Street Oak Ridge during a special meeting on Monday. Main Street Oak Ridge would redevelop the former Oak Ridge Mall, the L-shaped structure pictured at center above. (Photo by John Huotari/Oak Ridge Today)

 

The Oak Ridge Industrial Development Board will consider a financing-related resolution for Main Street Oak Ridge during a special meeting on Monday.

The resolution would approve documentation related to the tax increment financing, or TIF, for Main Street Oak Ridge. The $13 million, 30-year TIF agreement would use new property tax revenues generated within the economic impact area to assist in the redevelopment.

The special IDB meeting starts at 4 p.m. Monday, August 24, in the Oak Ridge Municipal Building Training Room. [Read more…]

Companies contributing $500K to Main Street Oak Ridge wanted to help

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Ray Evans

Ray Evans

Note: This story was last updated at 7 p.m.

The six companies contributing $500,000 for public infrastructure at Main Street Oak Ridge approached the city and volunteered to help, a consultant said Friday.

The companies are Methodist Medical Center; Oak Ridge Associated Universities; UCOR, a federal cleanup contractor; Restoration Services Inc., a cleanup contractor; Consolidated Nuclear Security, which manages and operates Y-12 National Security Complex; and UT-Battelle, which operates and manages Oak Ridge National Laboratory.

The companies understand how important the project is to the city and to them, said Ray Evans, retail consultant for the City of Oak Ridge.

“They approached us and said, ‘How can we help?'” Evans said. “They just want to ensure the success of this project.” [Read more…]

Six employers pledge $500,000 for Main Street Oak Ridge infrastructure

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Warren Gooch

Warren Gooch

Six Oak Ridge employers have pledged $500,000 to support public infrastructure at Main Street Oak Ridge, the $80 million redevelopment of the former Oak Ridge Mall.

Officials said it shows unprecedented community support for the project.

The six companies are Methodist Medical Center; Oak Ridge Associated Universities; UCOR, a federal cleanup contractor; Restoration Services Inc., a cleanup contractor; Consolidated Nuclear Security, which manages and operates Y-12 National Security Complex; and UT-Battelle, which operates and manages Oak Ridge National Laboratory.

“All Oak Ridgers realize the successful development of the Main Street town center project is of critical importance not only to the citizens of the City of Oak Ridge and the business community but to the region in general,” Oak Ridge Mayor Warren Gooch said. “We appreciate these great corporate citizens stepping up the plate to help make Main Street Oak Ridge a reality.”

Tim Sittema

Tim Sittema

Project executives said critical final decisions are being made on the ramp-up to the project.

The relocation and reconstruction of public infrastructure such as Wilson Street and the two Main Streets are key elements of the project and the Oak Ridge City Council and the Industrial Development Board have pledged $1.5 million toward these improvements. According to the city’s consultants, costs will exceed this amount, so the corporate pledges are a welcomed addition to the development’s financial backing, a press release said.

[Read more…]

IDB meets Feb. 2

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The Oak Ridge Industrial Development Board will meet at 4 p.m. Monday, February 2, in the Municipal Building Training Room.

See the agenda here: IDB Agenda for February 2, 2015.

Mall redevelopment close to goal line

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James Downs of Crosland Southeast Retail Update

James Downs, Crosland Southeast partner, gives an update on the redevelopment of the former Oak Ridge Mall during a Tuesday morning Rise and Shine, sponsored by the Oak Ridge Chamber of Commerce, at The Courtyards Seniors Living on Briarcliff Avenue. (Photo courtesy Kathy Gillenwaters)

 

Ray Evans

Ray Evans

Note: This story was last updated at 1 p.m. Nov. 3.

If it were a football game, the long-awaited redevelopment of the former Oak Ridge Mall would be in the “red zone”—not across the goal line yet but close enough to score, a project executive said Tuesday.

Seventy-five percent or more of the new retail space has been leased or is under negotiation, said James Downs, partner of Crosland Southeast, the North Carolina commercial real estate firm that has proposed the project.

The company could have a groundbreaking in the spring of 2015. Construction work, which will include demolition of areas between anchor stores, could be completed by the summer of 2016, making it available to retailers by the fall of 2016. [Read more…]

Follow-up: AC Commission concurs with city’s mall TIF extension

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Oak Ridge Village Area Rendering

Note: This story was updated at 10:02 a.m.

County’s part of agreement does not change

The Oak Ridge City Council has agreed to add another 10 years to the agreement that will be used to help redevelop the former Oak Ridge Mall, and during its regular meeting in October, the Anderson County Commission concurred with the change.

There were no objections, and the Commission’s concurrence with the city’s 10-year extension of the tax increment financing, or TIF, passed 15-0. The city’s portion of the TIF has been extended from 20 years to 30, and the county’s remains unchanged at 20.

The city’s TIF extension had also been approved by the Oak Ridge Industrial Development Board, and the County Commission concurred with that change as well.

Ray Evans, retail consultant for the City of Oak Ridge, told commissioners that Crosland Southeast, the North Carolina firm that has proposed the redevelopment, could close on the property at the end of the year. Demolition could start in the first quarter of 2015, and retailers could have space in the redeveloped 59-acre site by mid-2016, Evans said.

“We think we’re very close to getting across the finish line,” Evans said. [Read more…]