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Raintree21

UNC to buy University Square on Franklin Street

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UNC-Chapel Hill has announced that is about to close on a $45.75 million purchase of University Square shopping center which sits on Franklin Street and borders university property. The site has over 1,300 private student residences, several acres of surface parking lots, and probably 50+ businesses. No plans are set just yet but Chancellor Moeser says he foresees at a minimum, parking decks to be constructed to help ease on campus parking.

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It'll be interesting to see how heavily the university levies it's mighty sword upon the Granville Residents. ie: getting caught with contraband could now jeopardize your status as a student. With Granville privately owned, there was at least some firewall between the two.

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Demolition is beginning soon on this. Time Out closes at the end of the month and will relocate further down Franklin St. 

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Target will take up about half the retail space with a "flexible format" store. Pieology and b.good also signed leases. Hopefully some local businesses fill out the rest of the space. The Target should increase foot traffic on Franklin which is a good thing since students tend to stay on campus to eat now rather than going to Franklin. 

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That section of Franklin and the already built portion across the street, really needed something with height and retail. Glad they got both but hope some local businesses sign on.

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the mini Target is opening up in Chapel Hill's Carolina Square this month on the 23rd. This is great mixed use project for Chapel Hill offering apartments, retail, office space. https://www.bizjournals.com/triangle/news/2017/07/11/target-chapel-hill-franklin-st-carolina-square.html    If you haven't seen it ride over from Raleigh or Durham. 

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Some photos of Carolina Square in Chapel Hill today some of the apartments are done. The Target is opened but still lots of construction going on here. Looks like the office space is still under construction but it is all coming together. 

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1 hour ago, KJHburg said:

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Random question, but what does that pedestrian sky-bridge connect between?

 

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The building in the rear is all office I think and it connects to the building fronting Franklin St that has retail, apartments and I think more of the parking in a garage. 

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