Huge project forms near Wake Forest Wegmans with 1,000 housing units, lots of retail space - Triangle Business Journal
Whoa! Huge project proposed in Wake Forest. More than 1,000 housing units and 350,000 square feet of commercial space. A major development in Wake Forest, near the Wake Forest Wegmans, is being marketed to potential retail tenants as part of a 175-acre site called “Aura Hilltop” with 1,000 housing units, 350,000 square feet of commercial space, 900 apartments, and 150 townhomes. The development is named “aura HillTop’s” by Dallas-based Trinsic Residential and would also have 350k sq. ft commercial space. The public records request revealed that emails between Wake Forest town staff and the developer, TrInsic Residential, have been exchanged with them and the engineering firm involved in the project. No official site plans for Aura Hilltop have been filed with the town, despite the project already having a broker group and brokers assigned to handle leasing. The potential project comes as Wake Forest continues to rapidly grow, adding 2,000 to 3,000 residents a year.
प्रकाशित : 10 महीने पहले द्वारा Kayli Thompson में Business
Another mega project is taking shape behind the scenes in Wake Forest. A big-name developer is behind the proposal.
A huge property near the Wake Forest Wegmans is being marketed to potential retail tenants as part of a major development that appears to be in the early stages of planning.
The 175-acre site is near the interchange of Highway 1 and Highway 98 north of Wegmans and Grove 98, according to online listings. The development is named “Aura Hilltop" and would have 350,000 square feet of commercial space, 900 apartments and 150 townhomes.
Dallas-based Trinsic Residential is named as the developer in documents related to Aura Hilltop. Through a public records request, Triangle Business Journal obtained emails between Wake Forest town staff and the developer as well as the engineering firm involved with the project. The emails show that Trinsic is working on a preliminary development plan and has had a handful of meetings with town staff, the most recent one occurring in early March.
When asked to confirm whether it is the developer behind the project, Trinsic Residential did not respond.
No official site plans for Aura Hilltop have been filed with the town despite the project already having a broker group, The Shopping Center Group, and brokers assigned to handle the leasing. But emails obtained by TBJ show the town has been in contact with the developer and the engineering firm behind the project.
Jeff Nimmer, one of the brokers, said in an email to TBJ that the developer is working through details and is “not ready to comment on the project.”
One of the parcels, which sits just east of Highway 1 and south of Durham Road, in the proposed development is more than 160 acres and has an assessed value above $14.6 million, according to Wake County property records.
The potential project comes as Wake Forest has been exploding with growth, adding 2,000 to 3,000 residents a year, according to U.S. Census data. It is the eighth-fastest growing city in the state and now has a population above 50,000.
Trinsic Residential has an “Aura” brand, which it has used for each of its Triangle communities. Some of those communities are mixed-use sites with apartments and retail. The most recent of its Aura communities is Aura 751 in Durham.
Online listings for Aura Hilltop show a general layout with three parking garages with residences above, multiple swimming pools, a park and 13 retail buildings. The developer is also proposing to extend Ligon Mill Road from Highway 98 through the development and connect it to Durham Road.
Wake Forest has been filling up fast with commercial development, including Grove 98, which has added several retailers.
Elsewhere in the town, a build-to-rent community with 217 units and a mixed-use project with 307 units, 19,300 square feet of retail and a 20,000-square-foot medical office are both planned for across from Wake Forest Crossing shopping center.