The future of Apex can be seen in Veridea

Posted on 05/12/11 No Comments

Location and plans for Veridea development

Apex, NC is recognized throughout the Triangle for its inviting collection of small-town businesses along historic Salem St., a wide selection of high-quality, affordable neighborhoods and its proximity to most of the region’s primary professional centers.

Obviously, Apex is a very desirable place to live and many clients who have settled there feel as if they’ve found the home of a lifetime.

As a result of Apex’s stable business foundation and its growing residential tax base, it has become the destination site for what could be the entire Triangle’s most ambitious—at least in concept—development project in the last 20 years.

Called Veridea, the project will create a massive residential and innovative business community along US 1 and NC 55 that is expected to demonstrate the latest in environmental building technology and efficient land use. The site’s size is just over 1,000 acres.

The developer, Lookout Ventures, had a rezoning request and Sustainable Development Plan recently approved and is hoping to get physically underway later this year. One of the concepts inspiring those behind Veridea is the idea of creating another destination for expanding and relocating businesses. And, it is being marketed by its planners as a “next-generation extension of North Carolina’s world-renowned Research Triangle Park.”

(The soon-to-be-open Western Wake Expressway will give Veridea residents access to RTP in about 12 minutes.)

While many projects of this size and scope tend to meet controversy along the road to approval, the numbers associated with Veridea make its potential hard to contest. The project is expected to create up to 30,000 jobs in the next 20 years and increase Apex’s tax revenue by $6 billion.

For homeowners in the area, expect positive change. Not only will values rise for adjacent neighborhoods but we will also see a wide array of new living options become available to the market, further increasing Apex’s livability. Plans call for the community to be completely walkable and centered on a “transit oriented development” model, a design trend found in urban areas built along commuter rail routes, like in Washington D.C. or Boston.

There will certainly be some growing pains, as there are always are with large-scale developments like this centered on smaller towns. However, it seems the developers have been planning carefully, as evidenced by their decision to continue working on the concept instead of rushing to finance during the recession, a strategy that has doomed a number of projects in the area.

We highly recommend you take a look at the Veridea “Community Prospectus” (PDF) to learn more about the vision and goals behind this compelling new amenity to the Triangle.

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