Steelwood began working with the Southern Benedictine Society of North Carolina (the Monastery at Belmont Abbey) and Belmont Abbey College, in 1991. Through an extensive interview process, we established a consensus to utilize the Monasteries 700 acre property along I-85 as a vehicle to create an endowment for the Monastery and College.
To create the highest value and to promote sustainable development of their land, we then completed a highest and best use study for the property.
At that time we advised them to lease their land – not sell it – and thus establish a long term endowment through both land and building leases. We then assisted in rebranding the development under the name Montcross and worked closely with local governments, economic development agencies and chamber of commerce groups. Additionally, we created covenants, conditions and restrictions, and associated design guidelines to protect and enhance the value of their property. We provided a comprehensive marketing plan through the creation of www.montcrossnc.com and marketing templates for the individual parcels.
To date Steelwood’s analysis and strategies have financially stabilized the Monastery and College for the future. We are currently providing development implementation services, which include project marketing, property listing and sales, lease negotiations and property management. We have assisted in negotiating ground leases with Walmart, Lowes, BB&T, Bank of America and Chick-fil-A, Waffle House and Arby’s. We are listing over 500 acres of land both for lease and sale and are in discussions with outparcel users along with medical office groups, multi-family developers and continuing care retirement communities.