So What Happened to the Belmont Executive Center?

For those of us who have lived in Belmont for a few years, we remember a time when we all exchanged exciting rumors about the development of the Belmont Executive Center (BEC).  The BEC is the Toll Brother’s Office and Retail Development residing near the front gate.  The land was cleared, plans were briefed…but…

The recession happened.

Toll Brothers is still around and making progress, albeit very slowly.  There is one office building and it is primarily occupied  by our Virginia Homebuilding Division as well as by Toll Landscaping and Toll Commercial.

Alex Ross of Toll Brothers Commercial Division, was kind enough to answer some questions from the Web Committee about the status of the BEC development.

What is the status of the BEC? 

While we have zoning approval to develop all of BEC, given the economic slowdown we are in  somewhat of a holding pattern.  We continue to pursue retail tenants for our planned boutique shopping center, hotel developers/operators for our hotel site, and office tenants for our existing office building.  One encouraging sign is that we are trying to finalize a contract for a day care operator to develop the site on the northeast corner of Claiborne Parkway and Russell Branch Parkway.  Nothing is certain, but we are cautiously optimistic that we can close this deal later this summer. 

Do you have a development schedule? 

We do not have a development schedule at this time.  It just depends on how the economy shapes up.

Have you secured any vendors who will be making BEC their home? 

I wish we did, but we do not at this time.

We appreciate Mr. Ross taking time out to answer our questions.  We will continue to work with him to keep you informed of any news from the BEC!

-Web Committee