Writer: Gabriela Enamorado
3 min read May 2023 — The growth of the Triangle continues to push forward as new developments spring up in the area. This is reflected in the growing number of businesses and residents that have moved into the region, with the Raleigh-Durham metropolitan area ranked among the fastest-growing in the county last year. With growth expected to continue, developers are taking advantage. Invest: takes a look at some of the latest developments.
South Carter Industrial Park
A new 140-acre industrial park is being proposed in the city of Sanford, Lee County. The project is being developed by Mark Lyczkowski. The land was rezoned in February to make room for industrial development. Sanford is one of the most active submarkets in the Triangle area, where industrial developments are booming.
Beach Bluff County Park
In Wake County, there’s the Beach Bluff County Park that is estimated to open in spring 2024. Located in southeast Wake County, the 300-acre park will include playgrounds, hiking trails and many other amenities. Construction is underway.
For updates regarding the park, click here
Wolfspeed Chip Manufacturing Plant
A chip-making company based in Durham, Wolfspeed will locate its planned multibillion-dollar materials plant in Chatham County. This development is estimated to occupy 1 million square feet by the end of the decade. The plant is expected to generate 1,800 jobs and phase one is expected to be completed in 2024.
Downtown South
Kane Realty’s 140-acre Downtown South is expected to kick off construction this year. There are plans for a music venue and apartments. The music venue is expected to hold a capacity of 3,500 people and will be 70,000 square feet. It is scheduled to be completed sometime in 2024. This is one of the most ambitious development projects going on in the area. The project will add multiple office and residential towers, including a 21-story apartment building and a 27-story office tower, both to begin construction this year.
To follow updates on the development, click here
University Place Chapel Hill
The plans to transform University Place into a community hub with vibrant sidewalks and activities will be fully underway this year. University Place was an indoor mall and it is being changed into an open-air community center. Nine new buildings will be constructed and parking lot surfaces will be transformed into apartments, retail and green space. The first phase’s construction is already underway and a mixed-use building named 900 Willow with 253 units, including affordable units,is set to begin leasing in fall 2024.
To keep up with the latest news on this development, click here
Union West
The 32-story tower being built by Hoffman & Associates, located next to Union Station, is described as an innovative mixed-use development with a focus on transit. This project could open in 2025. Union West features over 600,000 square feet of mixed-use development with 560 apartment units, 10% of which will be offered at affordable rates. A new regional bus station will also be added.
Click here for more information
