Northwest property slated for development: Site work begins at Gott family-owned Airport Plaza

CJR Commercial Realtor Galen Pellham and developer Kevin Carleton of Carleton Construction Company have teamed up to develop a 46-acre parcel leading to the entrance of Springfield-Branson Regional Airport. The land, owned by Springfield's Gott family, is located at the northeast corner of West Bypass and West Kearney Street.

Charles and Alma Gott purchased the 80 acres in 1923, and operated a peach orchard there until 1973.

Pellham and Carleton entered a partnership with Charles Gott, Leroy Gott and Janie Gott-Corn to form Airport Park Plaza LLC, which will develop the land. Phase I of Airport Plaza at the Orchard divides 16 acres into nine lots; site work began in mid-May, and Pellham has a hotel chain under contract for a two-acre lot, the parcel's largest. Other negotiations are for a couple of chain restaurants and a convenience store.

The developers hope to brighten the corridor to the airport, which now comprises the Courtyard by Marriott and Caf, Partnership Industrial Center West and a few manufacturers.|ret||ret||tab|

"We're really wanting to make this a showplace" for airport travelers, Pellham said. "Because when people leave the airport to come into Springfield, this is going to be one of the first developments they see."|ret||ret||tab|

Springfield Area Chamber of Commerce Vice President for Economic Development Greg Williams was thrilled to hear of the plans. |ret||ret||tab|

"That's fantastic," Williams said, "It reinforces what we originally had hoped would happen in northwest Springfield as a result of our industrial park development at PIC West."|ret||ret||tab|

New activity near the airport, where commercial development often flourishes in other cities, has been rare. Three years ago John Q. Hammons built the Courtyard Hotel and Caf; city, chamber and CU forces began development of the west industrial park in early 2002.

"It's an area of Springfield that deserves this new economic activity," Williams added. "It's been accidentally ignored."

Pellham drew up the initial master plan for this parcel 10 years ago, but developer interest didn't follow. The key this time, Pellham said, is the availability of city sewer lines.

"That property has been on the market for 10 years," Pellham said. "For seven of those years, there was no sewer. When Mr. Hammons built his hotel and sewer became available, that really started the interest But when the dirt started moving, that's when we started getting the calls."

Two weeks ago Pellham learned of a national hotel franchise that would like to build a 90- to 100-room hotel at the site. Two acres are under contract for what Pellham said is similar to a Courtyard. He would not disclose the franchise.

"Now that we have the hotel, we are going to start marketing restaurants," Pellham said, adding that two existing franchises in Springfield are possibilities.

Pellham and Carleton also are in conversation with two convenience stores for a 4,000- to 5,000-square-foot store at the development's Kearney entrance, which will be named Airport Plaza Boulevard. The corner lot is reserved for a bank.

Such interest excites Jack Cole, principal of Cole-Evans Properties, which owns 19.6 acres immediately east of Airport Plaza. Cole, a Realtor with Indy Wallace Realtors, said his highway commercial land has been on the market for six years. He thinks Airport Park Plaza will spur development of his land.

"I think that whole area is going to be a major center," he said, largely due to the proximity to the airport, PIC West and the Interstate 44 exit.

But for now, Cole is planning to wait it out. "At the moment, we don't have any plans on paper," he said. "It will be ready when the right person wants to pick it up."

The land is listed at $50,000 an acre, or $1.14 a square foot, Cole said. "It's a bargain. Somebody is going to pick it up at that, and they are going to make $3 (million) to $4 million off it," he said.|ret||ret||tab|

If there are no takers and Airport Plaza is progressing, Cole said Cole-Evans Properties' investors may develop the property. He envisions a strip center as an anchor.

Airport Plaza land is going for $3.50 to $7.50 per square foot. Pellham said Airport Park Plaza LLC may also construct buildings for lease, possibly as offices.

Pellham said there is no estimated value of the overall project, but the 46 acres appraised for $2.8 million.

The remaining 30 acres of Gott family land, which fronts Interstate 44, will remain undeveloped. "We want to develop the first 16 (acres) and see if we need to continue our retail commercial developments further north," Pellham said.

Possibilities for that land include apartments, an assisted living facility or an auto dealership. Pellham said the development team will be selective in choosing tenants.

By spring, Pellham said a hotel, convenience store and bank should be complete.

Williams expects PIC West employees to utilize the new services at Airport Park.

"This particular development will be a tremendous amenity for future employers at the industrial park," he said.

Will it also help sell lots at PIC West?

"I don't think it will hurt it a bit," he said.[[In-content Ad]]