Ground broken on $1.5bn Hub RTP mixed-use scheme in North Carolina, US

WCN Editorial Team 23 Sep 2020 NORTH AMERICA BUILDINGS

The Research Triangle Foundation (RTF) of North Carolina in the US has broken ground on the $1.5bn Hub Research Triangle Park (RTP) scheme.

Centrally located between Raleigh, Durham and Chapel Hill, the 44-acre mixed-use community at the intersection of Davis Drive and I-40 will comprise two million ft² of office, residential, retail and hotel space as well as 14 acres of green space.

RTF president and CEO Scott Levitan said: “This investment by the Research Triangle Foundation, Durham County and our 300+ companies propels RTP into the future to meet the expectations of employers and the talent they recruit to North Carolina.

“HUB RTP has been designed and programmed to be the business threshold for our region.”

Real estate development firm KDC is leading the infrastructure for the project. It is also responsible for developing up to one million ft² of Class-A office space at the site.

KDC division president Larry Wilson said: “Hub RTP will enhance the already impressive roster of top-tier companies within Research Triangle Park.

“With thoughtfully designed, sustainable buildings surrounded by naturally preserved greenspace, the mixed-use community will serve as a premier destination to attract and retain top talent.

“With extreme flexibility to accommodate any sized user in the office and life science market, KDC is grateful for the partnership with the Research Triangle Foundation on this transformative project.”

MAA, a Tennessee-based real estate investment trust, will develop the apartments at Hub RTP while JLL will serve as a broker for the office component of the scheme, which is managed by RTF.

------------------------------------------------------------------------------------------------------------------------------------------------------
Illustration of the Hub RTP mixed-use community at the intersection of Davis Drive and I-40. (Credit: RTP)

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2020 GlobalData. All rights reserved.