Chapel Hill’s 'The Edge' development could bring national retailers

Some big retail stores might be arriving in Chapel Hill soon as part of a new development project off Eubanks Road, near Interstate 40.

Called “The Edge,” the project would span about 70 acres and provide new retail, housing and transit opportunities.

The Chapel Hill Town Council and Chamber of Commerce discussed the size and cost of the project Tuesday.

Dwight Bassett, the town’s economic development officer, said construction is planned to begin in the spring of 2013 and The Edge is expected to be ready to open by winter 2013 or spring 2014.
The five developers partnering on the project are preparing to apply for a special-use permit from the town.

“Right now we are looking at traffic impact analysis, and we need to be further along with parking lot assessment,” Basset said.

The developers estimate that the project — which will include new office spaces, apartment housing options, a new parking deck and three spots for large retail tenants — will cost between $40 and 50 million.

An 1,800-space parking deck — part of which will be open to the public — would replace the Eubanks Road park and ride lot, which has 400 spaces.

The project could also bring big-name retailers to the area.

Jeff Pape, who is the president of D&A Development and Consulting and one of the partners in the project, said he is excited about what retailers might move in to The Edge once it is complete.

“There are no written commitments yet, but we are talking to major national retail tenants who are at the top of their categories,” he said.

Pape said that the project is important because it will keep retail revenue in Chapel Hill. Out of nearly $1.5 billion spent last year on retail purchases by Orange County residents, about one-third was spent outside the county, he added.

“The goal is to bring them inside the town limits,” he said. “Students and residents are leaving Chapel Hill to meet their needs, and we are losing a lot of revenue in the process.”

Sophomore Jose Perez said it is not about convenience, but about a shopping center’s options.
“I probably wouldn’t go very often because when I leave campus to go shopping, I like to do other things,” he said. “I like to bundle my errands together.”

But Junior Sam Kiefer said new retail options close by could make running errands easier.
“If the option existed, I’d go somewhere closer,” she said. “If I’m looking for a social event, I’d go to Southpoint.”

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