Wednesday, November 12, 2008

'Augustalee' Is Historic New Name For the Former Village At Lake Norman

CORNELIUS, N.C. –'Augustalee,' a name with deep roots in the history
of the property and the family that lived and farmed there, has been
chosen as the new name for the former Village At Lake Norman project
site, the $500-million-plus, master planned, mixed use development in
Cornelius, N.C.

"We had intended all along to develop a refined, distinctive name for
the project, with the hope of honoring the vibrant history of the
Cooke family, who owned most of the 104-acre site and farmed it for
over 100 years, since before the town of Cornelius existed," said Josh
Rector, Senior Vice President of Cornelius Bromont, LLC, the
developers and now owners of the land. "But we wanted to wait until we
had the rezoning approved and the basic feel of the project planned
before undertaking the branding process. As you can imagine, when
working on a plan of this detail and refinement, we had to prioritize
tasks, and now the name is being addressed with the level of care we
have been dedicating to in every other element of the project."

"The name Augustalee was created after a lengthy process of
researching the rich history of the property, which has been
wonderfully preserved in words and pictures by the current generation
which owned the land," Rector explained. "Our goal was to develop a
name that would be complementary to the Town of Cornelius, fitting
with the culture of the region, appropriate for retail, office,
residential and hospitality, and exemplary of the quality of the
project we are creating. After considering a number of options, the
name Augustalee emerged as the one with the greatest strength and

"Augustalee is made of the first and middle names of Augusta Lee
Chester Cooke, the grandmother of the generation of Cookes from whom
we purchased the property," Rector said. "She was a very warm, caring
Southern lady. She lived on the farm and took care of her large
family. We chose the name because it conveys the warm, gracious,
Southern hospitality which this project will exude. It has a very
lyrical sound when you say it out loud. We strongly believe that
everyone will enjoy the continued hospitality and character of

The site is located between I-77 and U.S. 21 on the south side of
Cornelius. A new exit 27, widening of both highways and many other
roadway and transportation improvements are planned by Cornelius
Bromont, who expect to open the first retail stores on the site in
fall 2012. In addition the project will feature luxury residences
above the quality retail, two top-tier national brand hotels on the
main street, extensive Class A office space in multiple buildings,
parks and walking trails, and many other amenities.

"We at Cornelius Bromont have been very busy since we were last in the
news with the completion of our zoning case," Rector noted. "Since
then we have accomplished several major tasks in spite of the downturn
in the economy and the financial stress in the marketplace:

· We have been successful in closing our own financing, allowing
us to purchase the property and commence design of the first phase of
the project

· We have completed schematic design of the project and are in a
pricing exercise currently

· Our Design Team has created dramatic and realistic 3-
dimensional renderings of the Augustalee development from different
angles, which greatly help with understanding how the project will
look when completed

· We have been in negotiations with several major tenants;
leading name-brand hotels; and potential office users

· We have leased space and moved into our new offices on South
Boulevard in Charlotte

· We have continued meeting with transportation authorities at
regional, state and federal levels and have had nothing but positive
feedback from them – our planned improvements will clearly benefit
everyone involved

· All this has provided us more than enough to keep us working
long hours and burning the midnight oil. We could not be more pleased
with all of the excellent work that has been accomplished to date on
the project and the continued progress going forward. We want everyone
in the community to understand how hard our entire team is working to
make this project a reality, and how a project of this complexity
inevitably requires a time-consuming planning and approval process
before construction begins."

Cornelius Bromont, LLC, is a partnership of Bromont Group of
Scottsdale, AZ, and Carlsen Douglas Development of Cornelius. More
information on the project is available at
and at

Media Contact: Buck Lawrimore, 704-332-4344,