Clearpoint Crossing's additional construction is a milestone forthe developer, who had originally planned tobreak ground in early 2006 on the 92-acre site at the intersectionof Space Center Boulevard and Genoa Bluff Road. However, utilitiesweren't available until February 2007, which made financingdifficult. "The people we'd sold to couldn't get financing untilthe utilities were there," Patrick M. Dando, a director for thelocal developer, tells GlobeSt.com. Work did get underway in 2007,putting the project on track to be completed in 18 months. To date,the developer has completed a 14,908-sf retail building, which isfully leased, an 8,500-sf medical office building, 3,600-sf hairsalon and 38,000-sf Cullen's Upscale American Grill.

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Dando says the new spec retail building is 65% committed.Interior build-out is expected to begin in November. The medicaloffice buildings will be developed by a pediatrician and anorthodontist. Dando says the orthodontist also plans a 4,000-sfphase two, which will be available for lease.

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The developer so far been working only on 68 acres, with 30% ofit left to develop. Four acres are dedicated to infrastructure androads.

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"There are an additional 20 acres we haven't done anything withbecause it's not contiguous to the rest," Dando says. The land hadbeen earmarked for more medical or flex office space.

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Dando says the plan was changed when Fidelis Realty Partnersacquired 411 acres across the road to develop high-end residentialhousing. "They're putting 800 homes there worth $400,000 to amillion dollars. We decided to step back and let it materializebefore coming up with plans for that tract of land," he says.

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