A 1.24‑acre cluster of properties has hit the market in Chapel Hill’s historic core, setting up a test of how aggressively investors are willing to bet on redevelopment inside one of the town’s most fiercely protected neighborhoods.
Tucked inside the Cameron-McCauley Historic District and listed for $7 million, the four parcels at 213, 215, 219, and 223 McCauley St. hold five single-family homes dating back to the 1840s and early 1900s — four of which are registered contributing structures to the district. It’s south of the Franklin Street business district near UNC’s campus and The Carolina Inn.
Listing agent Tom Grasty of Chapel Hill-based Grasty Realty is marketing the site as the “largest residential downtown infill opportunity” to come online since the town’s new zoning changes…