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17 <br />in Carr Mill and could decide to sublet leased space to qualified startups at affordable month-to- <br />month rental rates. UNC would need clear criteria for selecting which startups to subsidize as <br />well as permission from Carr Mill management to enter into sublet agreements. <br />The proposed mixed-use project at 300 East Main Street will contribute to the urban environment <br />preferred by tech entrepreneurs and could offer amenities to startups in the area. The <br />development is expected to include apartments, office space, retail space and hospitality space, <br />about 350,000 SF in all. The increased square footage and location will expand downtown <br />Carrboro towards Chapel Hill. The project will generate demand for and offer additional <br />downtown housing that should be developed at relatively high densities. Bus service is another <br />location advantage of this site. <br />For tech entrepreneurs, the hotel could accommodate prospective clients and collaborators as <br />well as offer catered meeting and conference space. The office space should attract business and <br />professional service providers. The retail space would increase the dining and entertainment <br />options available downtown. Aparkments could house these entrepreneurs and employees of <br />companies in the area. <br />With encouragement from OCED, the Town of Carrboro could consider supporting this project <br />by providing the needed structured parking or by creating a synthetic TIF to fmance the proposed <br />deck. Easily accessible parking would enhance the project just as its combination of commercial <br />and residential uses should reduce auto dependence. In return for subsidized parking, the town <br />could propose that the developer include additional urban amenities in the project and make them <br />available at reasonable cost.16 <br />OCED could help expand the supply of affordable space in Carrboro significantly by working <br />with the developers of 300 East Main Street. For example, the upper floors in one building could <br />be left unfinished and made available to young tech companies at affordable rents.l~ -The county <br />could provide surplus furniture and moveable partitions to minimize upfit costs. Tenants would <br />have to be willing to trade "bare-bones" office space for proximity to the amenities downtown <br />Carrboro affords. Given the cost basis of 300 East Main, however, OCED is more likely to find <br />suitable affordable space at University Mall. <br />16 These amenities should be accessible 24/7 and leased by the week or month. Such amenities could <br />include weight room with aerobic equipment and swim lanes; game room with ping pong, darts, pool <br />table and Play Stations; shower stalls plus shaving/grooming products; break room with refrigerator, <br />microwave, vending, etc.; hair care and massage services as provided in major airports; and temporary <br />offices and meeting space. <br />17 OCED could consider subsidizing rental payments of tenants that were particularly attractive. <br />14 <br />