Glen Lennox is a 71 acre redevelopment site located 1 mile from the University of North Carolina Chapel Hill at the intersection of regional cross roads US 15-501 and NC-54/Fordham Boulevard. Land owners spent 7 years in a public engagement and entitlements process to achieve a rezoning via the Neighborhood Conservation District Plan 8C [link to document] and a 20 year Development Agreement [link to document] with the Town of Chapel Hill. The result is a shovel ready site with flexible entitlements and a shortened permit process. Glen Lennox is enlisting office and retail tenants to complement the planned mix of uses, including for sale and for rent residential, hotel, office, and retail. Over 6 million gross square feet of buildable area is included in the entitlements, offering a rare development opportunity in a strong market.
Why Glen Lennox?
· EASY ACCESS TO Durham and Raleigh and only 1 mile to UNC campus
· SIGNAGE OPPORTUNITY with direct visibility to 60,000 cars per day
· CORPORATE CAMPUS OPPORTUNITY: Multiple buildings and flexible floorplate options
· ESTABLISHED BRAND: Beloved historical neighborhood already has a strong notable identity to help leverage future development
· WALKABLE: Employees, residents, and visitors will be able to walk to an abundance of retail, restaurants, and recreational amenities
· TRANSIT: Free local bus system stops and regional bus stops located throughout the property; future light rail stop planned across the street
· FLEXIBILITY: 71 acre redevelopment site has flexibility to provide build-to-suit office buildings to accommodate a company’s specific needs.
· PREDICTABILITY: The long term development agreement with Town of Chapel Hill means no unknown restrictions, efficient planning, and express permitting.
· MARKET DEMAND: Growing population, employment and strong demographics coupled with community amenities poise Glen Lennox for success
For more information contact: Rachel Russell, Grubb Properties, email@example.com
Glen Lennox is an existing mixed use development located off of Raleigh Road and Fordham Blvd seeking to redevelop within the established parameters of its Town Council endorsed Neighborhood Conservation District zoning overlay. It is one of two potential developments using the new Development Agreement process approved by Council in March 2013. Click here for more information on the Glen Lennox Area Neighborhood Conservation District Development.