Meadowmont is a 435-acre area, located just a few miles east of campus off N.C. 54, that will house homes, stores, offices and a school.
The development incorporates many aspects of what is called a "new urbanist" or "mixed-use" development, said developer Roger Perry. In essence, people can live and work in the same area and never have to drive.
Perry, of East West Partners, said the community was built in such a way as to make people "less dependent on one-person motor vehicles in order to reduce the number of trips and the length of the trips they take."
But many residents in surrounding neighborhoods fought proposals to develop Meadowmont because they felt it would decrease the property values of nearby homes and increase traffic in that area. Despite concerns, developers broke ground on the project in May 1999.
In response to residents' concerns, the area of N.C. 54 near Meadowmont is being expanded from four to six lanes to help ease the burden of more traffic.
So far, the developers have broken ground on two-thirds of the 435-acre tract that has been zoned for single family homes, apartments, a Harris Teeter grocery store, restaurants, shops and corporate offices.
Perry said Franklin Street Partners, a money managing firm, and Central Carolina Bank regional offices will be opening in Meadowmont.
There will also be a 70-acre park and an elementary school for Chapel Hill students that is expected to be finished by 2003.
Perry said about the only thing missing would be a movie theater. He said no movie theater was planned because the area was not large enough for both that and a grocery store. "We thought people would rather eat than watch (a movie)," he said.