Here comes Pittsboro

Posted on 06/16/14 No Comments

ChathamParkCommercial

Image from Preston Development Co., via Triad Business Journal.
The Chatham County town of just under 4,000 people voted in favor of a massive commercial and residential project that will add another corner to the Triangle. (In fact, it may come close to uniting us with the Triad.) Given the name behind the project, residents can rest assured that Chatham Park will be well thought out and carefully executed.

Preston Development Co., the team behind the beautiful and popular Preston area of Cary, is building the project on more than 7,000 acres. It will eventually include enough living space to accommodate 60,000 new residents and more than 22 million square feet of office and retail space. In total, up to 22,000 homes are planned. Things may change as the project ramps up, but there’s little question that Pittsboro will now be a destination living option in the next few years for people relocating to the Triangle.

Preston Development executives smartly sought out the type of tenant that can serve as a foundation on which to attract new residents: a hospital. UNC Hospitals will be the primary commercial entity with a new 25,000 square foot medical services facility. Hospitals, like grocery stores, are often the first tenants in a new professional center because they represent the base needs of a community. Office buildings, which translate to jobs, are also a requirement.

The proposed $90,000 million solar energy facility, however, is a bit out of the ordinary and will be the most intriguing resident of Chatham Park. The developers are seeking to include a number of LEED-approved properties and amenities with the apparent motive of making the region a draw for emerging technology companies. With Research Triangle Park close by, that shouldn’t be overly difficult.

Clearly, a project of this magnitude takes many years to reach fruition. But, the major hurdles have all been cleared and it’s officially “underway.” It’s an exciting project for our area and one that many families will want to consider in the next several years.

 

 

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