Construction has started on one of several buildings planned for the development, which will have a mix of commercial and residential structures. As approved by the Town Council, the nearly five-acre community would contain about 80,000 square feet of commercial space and 82 residential units, including single-family detached homes, row houses and apartment buildings.
Port Royal developers said that this development will be equipped with several green features which will benefit the environment and possibly reduce energy costs to $50 a month for residents.
Jeff Pinckney, one of two developers of P Squared said that they are shooting for zero-energy homes but would be happy to get it around the $50-per-month mark for houses that are 2,500 square feet. He also said that the energy-saving measures start with the walls. Insulated concrete are used instead of wooden framing to provide thermal insulation and the material can withstand hurricane-force winds also. Solar panels, geothermal heating and air-conditioning and LED lighting will be used to make the development eco-friendly.
The developers plan to use instant water heaters in each unit, which heat water only when the hot-water tap is used. Pinckney said that residents will not have to pay energy costs to heat water 24 hours a day. The developers also said that units will start at about $200,000.
Pinckney said that the “green” attributes could raise home prices about 1% to 2%, but long-term savings will eventually cover the upfront costs. They said that cisterns will collect a majority of the development’s stormwater runoff which can be used for irrigation, washing cars and other activities.
Till now only two buildings have been approved -a duplex and an apartment. Developers must get final approval on each building from the Design Review Board. Pinckney said that a conceptual model of the development, created by architect Thomas Michaels of Port Royal, will be on display at the Old Towne Coffee Haus on Paris Avenue in about 10 days.
