Five developments that are changing the Triangle
From North Raleigh to Research Triangle Park, developers are constructing new buildings and offices to take advantage of the region’s growing workforce and booming economy.
Why is this important: All of this changes the way people will live and poses challenges to the infrastructure of our region.
Here is some projects that change the Triangle:
Triangular Innovation Point
What is happening: The state’s largest megasite, 30 miles southeast of Raleigh, landed the largest economic development project in North Carolina history in March.
- Vietnamese maker VinFast’s $4 billion electric car factory could expand Triangle growth along the US 1 corridor in Chatham and Lee counties.
- Economic development around Triangle Innovation Point is expected to bring more residents to Pittsboro and Sanford, turning them into bedroom communities in Raleigh.
Details: VinFast plans to hire 7,500 people at its future Triangle Innovation Point factory by 2027, and more employers may still be added to the site.
What is happening: High-rise apartment towers, shops and restaurants will soon appear for the first time in Research Triangle Park.
- Why is this important: RTP has never been a destination outside of working hours, when tens of thousands of people commute to jobs at places like IBM, Biogen, Cisco and soon Apple.
Details: HUB RTP, led by the Research Triangle Foundation, is a $1.5 billion project that over the next few years will add:
- 1 million square feet of office space
- 25,000 square feet of rental space
- 1,200 apartments.
Epic Games/Fenton Headquarters
What is happening: A sleepy corner of Cary could become a major job and entertainment hub after Epic Games spent $95 million to buy the old Cary Towne Center mall and a new nearby shopping district is preparing to open .
Details: Epic Games promises to transform the former 87-acre mall property into a gleaming new headquarters fit for thousands of employees.
- Epic plans to build 2 million square feet of office space in phases over the next decade.
- However, Cary City Council has expressed concerns over the lack of details, potentially creating a contentious fight over the rezoning Epic needs to build its new HQ, The News & Observer previously reported.
Opening this springthe 69-acre Fenton development will add over 300,000 square feet of retail and restaurant space at the intersection of Cary Towne Boulevard and Trinity Road.
- Tenants include retailers like Williams Sonoma, Pottery Barn and Sephora
- Restaurants range from M Sushi and Crawford Brothers Steakhouse to Dram & Draft and CRU Food & Wine Bar.
Fenton’s grand opening will be on June 4, but some stores have already opened.
Kane’s continued expansion
What is happening: Over the past 10 years, developer John Kane has transformed the former North Hills Mall into a center of office towers, high-end boutiques and apartments. There is still much to come.
Details: JCPenney, formerly the anchor tenant of the North Hills Mall, was demolished. Instead, Kane Realty builds:
- 100,000 square feet of retail space
- 300,000 square feet of office space
- And 300 apartments.
Catering equipment will be the main tenant of the project.
- Across Six Forks Road, Kane is planning the “North Hills Innovation District,” in an effort to attract more biotech companies to Raleigh, according to The News & Observer.
- The innovation district will include an 18-storey office tower, 200 apartments and a food hall.
Big Picture: The North Hills boom is far from over. And while Kane’s Downtown South project has a less clear timeline, it could create a North Hills-like hub in neighborhoods just south of downtown.
Geer Street in Durham
What is happening: Durham city center has long been in the headlines for its massive changes and now another high rise tower is on the way and dozens of apartments are being built.
But the proximity The entertainment district centered around Geer Street is about to undergo a major transformation and illustrates the densification of the heart of Durham.
- Long home to low-rise buildings and former auto workshops turned bars and restaurants, several multi-storey projects are now being built in the area.
GeerHouse: Located on over two acres at 620 Foster Street, the apartment project is built around the popular Motorco concert venue and Geer Street Garden restaurant.
- Through two phases of development, the 14-story building could include over 300 apartments and over 19,000 square feet of retail and amenity space.
Stone Bros & Byrd: After moving earlier this year, the former garden center at 512 W. Geer St. is making way for a seven-story condominium building.
- The development, called The George, will bring about 40 luxury condos to the street, priced between $545,000 and $1.7 million.