Carolina Square kick-starts apartment leasing

Although it seems the construction in Chapel Hill has no end, there’s a light at the end of the tunnel.

Because of increased interest, the new Carolina Square development at 123 W. Franklin St. near Granville Towers has already been leasing for a month.

The project’s building and managing company, Northwood Ravin, will be holding an event at Top of the Hill on Wednesday to officially kick-start the pre-leasing process.

“We chose Top of the Hill for its iconic location, which is what we’re hoping Carolina Square will be — an iconic location,” said Kate Irving, marketing director for Northwood Ravin.

The pre-leasing event will run from 6-9 p.m. and about 150 people are signed up to attend, most of whom have yet to sign a lease. Residents can expect to move in mid to late July 2017, which is the same time the new Target is slated to open.

“We’re looking forward to being able to introduce a new wave of prospects to what we have to offer,” Irving said.

“We already have 25 percent of the project leased, so we’ve received a lot of applications already; we’re hoping this event will be one of two or three to lease up this project before we even open.”

The event will feature a buffet, hors d’oeuvres and drink tickets for beer and wine. Irving said attendees will be able to fill out leasing applications on-site, and staff members will be there to answer any questions about floor plans, interiors, pricing and more.

For those who can’t attend the pre-leasing event this week, Irving said there will be another one early in 2017 when the new semester starts.

Catherine Demos, a UNC sophomore, said she expects the new development will benefit students and residents.

“I think it’s convenient for people who don’t have cars on campus, because I know last year as a freshman, if I needed to go to Target, it really wasn’t a good option,” she said. “It’ll be good for convenience, and I guess it’ll be good for housing — although I feel like there’s already a lot of housing options, but you can never have too many.”

But Christie Parker, a UNC senior, said she feels like the expansion, specifically the new Target, may cause traffic issues.

“Parking up here is hard enough, so if they’re going to put a Target in, that’s only going to make the issue worse,” she said. “I feel like Franklin Street will get so backed up.”

Carolina Square is offering one, two, three and four bedroom apartments, all equipped with a bathroom for every room and a balcony. Irving said there has been a lot of interest in the four-bedroom apartments and few are left.

A courtyard with a local artist’s sculpture, fountains, a pool, a fire pit and complete Google Fiber outfitting are among the amenities Carolina Square will offer. The apartment complex will also be pet-friendly, with a pet park on the grounds.

Irving said apartment prices range from $900 to $4,000 per month, depending on the size, view and level. Though this is a wide range, she said prices will fluctuate due to supply and demand.

“I’m excited for the pool, the Target, the beautiful workout facility, the location — and you have to be 20 to lease an apartment, which is nice for upperclassmen,” said Mallory Kocher, a UNC sophomore who plans to live in Carolina Square next year.

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