Development.  Investment.  Management.

Scotton Landing

Scotton Landing is a 32-acre mixed-use project that will total 600,000 square feet of commercial, retail and multi-family space. The project is approximately 75% developed with all entitlements and infrastructure completed. PRINCIPAL PROPERTIES is the developer and property/asset manager.

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As the developer, PRINCIPAL PROPERTIES has been involved in the project since inception. The project had significant obstacles to development, including no commercial or signalized access; no infrastructure or utilities; severe topography challenges as well as major wetland and environmental constraints. Through a collaborative effort with various local, state, and federal agencies, PRINCIPAL PROPERTIES assembled the development team that was able to successfully solve these problems and site constraints. The first phase of Scotton Landing broke ground in 2015 with the Alder Pointe Apartments, a 180-unit multi-family project. Alder Pointe was completed in 2017 as well as all grading and infrastructure improvements for the remainder of the project. The first commercial lot was sold in June of 2017 and PRINCIPAL PROPERTIES negotiated the sale on behalf of the seller. Since then, it has successfully negotiated the sale and/or acquisition of seven additional pads totaling over 350,000 square feet. By 2023, over 340,000 square feet of space has been constructed and the project is shovel ready for additional 60,000 square feet of development. PRINCIPAL PROPERTIES reviews and approves the design and construction of all buildings in the project and continues to have an active role as developer and manager of the project.  PRINCIPAL PROPERTIES’ duties included: 

• Due Diligence and property acquisitions

• Feasibility and investment analysis 

• Site planning and project design

• Working with local, state, and federal agencies to mitigate all on-site wetlands 

• Secured funding to construct Scotton Way, which provided signalized access to the site 

• Utility and infrastructure design and construction 

• Obtaining all permits and entitlements 

• Financial analysis and capital budgeting 

• Securing all equity and debt funding 

• Construction management

• Negotiating all leasing and property sales

• Property and Asset management

• Creation of the Codes, Covenants, Restrictions and development guidelines

• Review and approval of all development, building and sign plans

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For more information about available lease or sale opportunities, please contact T.J. Fontenette or Christina Cerini: (360) 834-1060, tj@principal-llc.com; christina@principal-llc.com