Veridea has the potential to become a unique mixed-use development that could create numerous jobs and exponentially boost the town’s tax base.

The concern for town leaders is how to make sure developers keep the “mix” in mixed-used as the 1,000-acre project progresses through the years.

Those concerns and other related issues were discussed April 7 during a work session at town hall as members of town council, planning board, and planning department met with developer Tom Hendrickson. A similar work session was held in October and a third meeting is planned for possibly some time in May or June.

Councilman Bill Jensen said he was worried about the timing between commercial and residential construction.

Envisioning a project where people could live and work in the same community, he worried that building too many homes without any mix of businesses could create problems.

“I would like to see some balance as it develops out,” said Jensen. “If there is more business or light industrial that comes in before housing that is fine. If it is going to go out of balance I would rather see it on the (commercial/industrial) side than on the housing side.”

Hendrickson agreed that he would also like to see a balanced project but said the market would dictate Veridea’s growth.

“I understand your concerns and share it,” said Hendrickson. “But just as I don’t know what the weather will be 365 days from now I don’t know what the market will be like five years from now.” Councilman Lance Olive also said he was concerned about a lack of balance and felt more specific data was needed in the plans. He said the project’s boundaries between residential and commercial needed better definition.

“Understanding the boundaries of balance will help me but I’m having a problem finding those boundaries right now,” said Olive. “I’m having a hard time seeing the worst-case scenario.”

Town planning director Dianne Khin said a worst-case scenario of an out-of-balance Veridea would lead to 556 acres of residential construction.

The massive project has the potential for 8,000 dwelling units along with 3,500,000 square feet of retail, 10,000,000 square feet of office space, and 2,000,000 square feet of industrial.

“We have the boundaries,” said Hendrickson. “We just haven’t articulated it well.”

Hendrickson also told town leaders he would like to make presentation at an upcoming meeting “to put it all in context.”

Hendrickson reiterated that a balanced development has always been his goal but he is unable to change market forces.

“We can’t control when we land the first big economic development,” said Hendrickson. “We are building the trap to catch the first good one that comes down the path.”

Hendrickson also reminded town leaders that Apex is facing a serious sewage capacity problem and that other local communities are also competing for businesses.

“There are communities on each side of you, Cary and Holly Springs, that are also eager to welcome businesses,” said Hendrickson.