Chapel Hill Development News
September 27, 2019
All News

There is no shortage of development activity in the bustling college town of Chapel Hill, North Carolina. In recent months, there has been a noticeable increase in construction activity along the much-traveled U.S. 15-501 corridor. From the redevelopment of the Glen Lennox area to a whole host of new mixed-use developments, the following projects are just a few examples of the broad wave of growth in the Research Triangle area.

Carraway Village

A Morrisville-based developer plans to turn a 55-acre parcel of vacant land adjacent to Interstate 40 into a luxury mixed-use development. This $100 million project will eventually include up to 837,000 square feet of retail and office space, along with apartments and a hotel. Located less than 10 minutes from the University of North Carolina at Chapel Hill, Carraway Village sits in the heart of Chapel Hill. The first phase of the project is now complete, with Carraway Apartments welcoming its first residents to its luxurious accommodations. Some of the development’s first-class amenities include a 16,000-square-foot Village Green, a 24-hour clubhouse, a saltwater pool, an elevated sky lounge and a fitness center. Additionally, the developers have secured leases from two major retail tenants: Starbucks and Chick-fil-A. The two retailers will help anchor one of the three proposed entrances to Carraway Village off Eubanks Road.

Glen Lennox

Back in 2014, the Town of Chapel Hill approved a 20-year development agreement that will breathe new life into the 1950s-era community of Glen Lennox. This development—which features residential and office space—is located on 70 acres of land east of the University of North Carolina at Chapel Hill. This plan will help restore and reinvigorate an historic community by bringing unrivaled residential, retail and office settings in the heart of the bustling town of Chapel Hill. The community’s Master Plan includes amenities like a hotel and a new shopping district, both of which will offer convenience and additional character that are highly suited to the neighborhood. The first phase of the Glen Lennox redevelopment includes a contemporary clubhouse that will become the cornerstone of the community. The clubhouse will include a saltwater pool and a state-of-the-art fitness center. Future phases include additional residential units, Class A office space and a bustling retail center.

Fordham Boulevard Apartments

Construction is well underway on yet another multi-story apartment community in Chapel Hill’s Blue Hill District along busy Fordham Boulevard. A former Days Inn was demolished to make way for the 3.4-acre project. Approximately 272 apartment homes will be available for rent upon the project’s completion. The building will be comprised of two sections split by a motor courtyard and pedestrian pass-through which will connect the site to a future public greenway.

Triangle Wegmans Locations

The New York-based grocery giant Wegmans plans to open multiple locations in the Triangle, including in Raleigh and Chapel Hill. The Raleigh store—the company’s 100th location—is set to open on Sunday, September 29, 2019. The Wegmans location in Chapel Hill will be built on the site of the former 14.7-acre Performance AutoMall between U.S. 15-501 and Old Durham Road. Additional stores will be opened in Cary, Holly Springs and Wake Forest. Why did Wegmans choose the Triangle? Some key factors in the company’s decision-making process were the area’s high rate of population growth as well as the quality of the educational institutions in the Research Triangle area. Wegmans is a store that sells more high-end products, which will do well in a market fueled by higher education.

South Green

Right next door to Chapel Hill sits the thriving town of Carrboro, which has its own new development: South Green. The first tenants recently opened for business and include Carrboro Yoga, Coronato Pizza, Noble Orthodontics and Craftboro Brewing Co., among others. South Green is a 45,000-square-foot retail development located just off Highway 54 and will act as a gateway to the southern entrance of Carrboro. The site is minutes away from the University of North Carolina at Chapel Hill campus and boasts a roundabout at the entrance, along with the largest pervious parking lot in the Triangle with LED lighting. Other site amenities include extensive landscaping, bike racks, a 24-hour ATM and a bike path.

Interested in investing in North Carolina commercial real estate? Ground + Space is a leading commercial real estate brokerage firm based in North Carolina that specializes in single-tenant and retail NNN investments. Contact us today to find out more about our current listings or sign up for our mailing list to stay in-the-know on all that North Carolina has to offer.

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