By James Heffernan -- Daily Staff Writer

WINCHESTER — A new concept is taking hold in the city with the development of a mixed-use, 55-and-

The Corners I, located at the corner of Valor Drive and Taft Avenue, features 16 two-bedroom, two-bath luxury apartments on top of nine street-level commercial spaces. The complex, the first of two mirror-image buildings planned for the intersection, is set to open next month.

Dennis Molden, president of Molden Real Estate Corp., which is developing the sites, said The Corners is designed to provide "mature residents with all the conveniences of a large home, without the daily maintenance."

"There's nothing like it in the city at this time," he said.

The 1,200-square-foot apartments, each with a private balcony, rent for $1,800 a month, including all utilities — except for the phone bill and any upgrades to basic cable — and appliances, and a separate laundry room. For convenience, the building has an elevator, and all units are handicapped-accessible. The complex also features trash pickup and recycling service, and a full-time manager will be on site 24 hours a day.

The commercial spaces, which are being brokered by Sperry Van Ness, will be filled with residents' interests in mind, such as a coffee shop, hair salon and dry cleaners, Molden said.

He said interest in the apartments thus far has been good, and some leases have been signed for occupancy beginning in September.

"I'm getting calls every day," he said.

The retail side is progressing more slowly due to the market, Molden said. No contracts have yet been signed.

The project is the result of an agreement between the Winchester Economic Development Authority and Molden Real Estate to extend Valor Drive to its intersection with Hope Drive and back to Weems Lane. Molden owned 22 acres in the area, and agreed to dedicate property for the road construction. The EDA then acquired Virginia Tech's vacant fruit research lab nearby, in effect opening up 30 acres for development.

"As the lots were developed and/or sold along Valor Drive, they would pay us back with interest," Winchester Economic Redevelopment Director Jim Deskins said of the agreement.

After selling off several parcels, including a corner lot to the Shawnee Volunteer Fire & Rescue Company, Molden approached the city with an idea to build luxury apartments on top of retail.

The concept fit with what the city was trying to accomplish in "stimulating mixed-use, new urbanism principles," Deskins said, and the EDA helped facilitate a change in the city's zoning ordinance enabling such developments.

The concept offers several advantages, he said.

First, it requires a smaller footprint, which is desirable in urban settings. Second, it creates walkable communities in which residents can live and work in the same area.

"It makes it possible for someone to not necessarily have to get into a car to go the store," Deskins said.

And, local retailers can take advantage of their customers' proximity, he said.

Winchester is interested in maintaining opportunities for current residents as well as attracting ones, Deskins said. Specifically, the city is targeting seniors with grown children who don't want the upkeep of a big house and yard, and the under-35 crowd with no children.

The Corners will hold open houses every weekend during the months of August and September. For more information, call 662-4116.

* Contact James Heffernan at jheffernan@nvdaily.com