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Chapel Hill Carrboro Developments


KJHburg

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@SydneyCarton this is huge for Chapel Hill.  Lots of projects ongoing in formerly slow anti growth CH and glad to see it.

""A $500 million mixed-use development with up to 50,000 square feet of commercial space is coming to southern Chapel Hill.

Beechwood Carolinas, a New York-based developer, is advancing plans for South Creek across from Southern Community Park after the Chapel Hill Town Council unanimously approved a rezoning earlier this month. The 815-home development at 4511 S. Columbia St. will also have between 21,000 and 52,000 square feet of retail and commercial space.

Beechwood Carolinas Principal Steven Dubb said South Creek is fully funded through The Beechwood Organization, which Beechwood Carolinas is a division of, without outside equity or capital partners. The company might secure a construction loan in the future, but it doesn’t need one yet.

There will be 120 apartments, 606 condominiums and 89 townhomes. The apartments and condos will be a mix of studio, one-, two- and three-bedroom units while the townhomes will have two, three and four bedrooms. Both the apartments and condos will be in 5-story buildings over covered parking and some retail. The townhomes will be two stories with garages.

The apartments will range from 525 to 2,725 square feet and be for rent. Dubb said the units will be market rate. The condos will have the same square footage range as the apartments but will be for sale. The townhomes will be 1,600 to 2,900 square feet and also be for sale. Dubb said the pricing will start in the $300,000s and push close to the million-dollar range.

Part of the rezoning came with a condition that 15 percent of the for-sale units and 10 percent of the apartments must be affordable. All the affordable units must be split in half at 65 percent of the area's median income and 80 percent of AMI.""

this is quite impressive!

https://www.beechwoodcarolinas.com/south-creek/

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