Tuesday, September 22, 2009

Jafza International changes development plans

Email Print
Jafza International changes development plans

By Molly Parker
Published Sept. 21, 2009

Jafza International has retooled its Phase 1 development plan for the massive logistics and warehousing complex the company has proposed for rural Santee.

Project map Jafza is currently marketing four separate parcels of land on the outskirts of its 1,300-acre property. The plots highlighted in yellow on this map are available immediately for light manufacturing, warehousing and logistics space.

They are (from left to right):

· A 49.3-acre parcel near Santee’s Town Hall building.

· A 75.6-acre parcel located adjacent to the Santee Outlet Mall.

· A 90.6-acre parcel on Intracoastal Lane.

· A 55.9-acre parcel off Resort Street.

Originally, Jafza had planned to put a 135-acre parcel in the center of its land on the market first and secure an anchor tenant for the project. But those plans are on hold as government officials attempt to secure millions of dollars for necessary road improvements.

The original Phase 1 project requires the addition of an interchange on Interstate 95 so that U.S. Highway 301 can be accessed from the interstate’s northbound lane. It also requires the extension of U.S. Highway 301 east of I-95 to S.C. Highway 6. Combined, these projects are expected to cost up to $60 million.

Jafza and Orangeburg County officials are projecting that the road project will be completed by 2012.

Market materials outlining the revised development plans were sent out last week to 1,200 customers worldwide, a company spokeswoman said.

In total, Jafza International, based in Dubai, United Arab Emirates, is planning 4 million square feet of warehouse and distribution space, to be a hub for storage, processing and then transportation of goods shipped through the Port of Charleston.

The company announced its aggressive development plans in November, but economic conditions have slowed projections. Jafza is not building on a speculative basis and only plans to erect buildings once a tenant is secured, company officials have said.

Reach Molly Parker at 843-849-3144.

No comments: