While many self storage operators have managed to convert older buildings into self storage facilities, the process is not always that simple. Many times, ordinances set out by the city prevent a location from being used as a self storage facility. However, little by little, things have started to change. The towns of Hampton and Olivette should be expecting additions to the existing self storage facilities in the areas very soon.
In Olivette, MO a new ordinance will allow self storage facilities to operate in light industrial zones. An amendment was recently approved that will allow mini warehouses and self storage units on lots that are at least seven acres and within light industrial zones. According to the amendment, the amount of space allotted to outdoor storage may not exceed 30 percent of the storage area and members of the public may only access it between the hours of 7 a.m. to 10 p.m.
The rush of self storage development isn’t limited to Olivette alone. Over in Virginia, there are plans to construct a new self storage facility on Cunningham Drive near the Walmart in Hampton. Plans include the establishment of a four-story, 135, 000 square foot facility. However, before construction can begin, the City Council will have to approve the new structure.
The Planning Commission already met on December 4 to provide recommendations to the City Council. The council will decide in an upcoming meeting whether or not they will approve the new plan but the date for that meeting has yet to be set. While most members of the community are welcoming the proposed new change, the city staff convened to try to convince the City Council not to approve the construction. They argued that if the new facility is built, the zoning would allow for development that is too dense for the existing area.
Developer Michael D. Sifen is planning to spend $10 million to construct the facility and seems optimistic despite opposition from city staff. According to his lawyer, Steve Romine the area will under a complete renovation.
"This parcel will be completely redeveloped and for those of you who have seen it, it's blighted, it's vacant and it's out of operation."
"This is a high-quality, urban-design type building," Romine said.
We’ll keep you posted of the result and continue to bring you the latest information on the growing state of the self storage industry.