Construction in downtown Chapel Hill has caused many disruptions for residents and local business owners this year, but progress has been made toward the completion of each project with hopes to improve conditions for residents and enhance tourism.
This year, three main projects have been the focus of Chapel Hill’s ongoing construction: Rosemary Street improvements, the Marriott AC Hotel and Carolina Square.
Carolina Square
Carolina Square is a $120 billion mixed-use development project that includes three buildings, a public lawn and more than 200,000 square feet of office, retail and residential space. Currently, it has a tentative opening date of July 15, 2017.
The Square is under construction at 123 W. Franklin Street and will include downtown’s first outlet and grocery store, Target.
In August, Chapel Hill Town Council member Michael Parker said the project will create more public space and retail options within the downtown area.
“I think having the stores, particularly Target, will provide some really useful options for folks who would like to do more shopping downtown,” he said in August. “There will be about an acre of open space in Carolina Square interior, so we’ll have sort of that town square we’ve been looking for.”
The Square is expected to bring in more than $1.78 million in gross tax revenue. The Square’s estimated tax value is $106 million.