A rare, developable parcel just steps from the University of North Carolina’s Chapel Hill campus hit the market on Monday, with brokers saying only that the asking price is “for millions.” Land this close to campus almost never comes up for grabs, and local brokers say the listing is already drawing eyeballs from developers and institutional-watchers.
As reported by the Triangle Business Journal, the site is being pitched as a one-of-a-kind development opportunity and is being marketed to buyers hunting for infill that could support housing, lab space or institutional uses. The listing highlights the parcel’s walkable proximity to campus and the flexibility the seller says the site offers for redevelopment.
“There will never be another property like this available in Chapel Hill again,” the listing agent told the Triangle Business Journal. The agent would not say how many tours or formal offers have taken place so far, but the paper reports strong early interest from local developers and investors.
Nearby planning activity adds pressure
Recent university planning has turned up the heat on developable land around town, boosting the perceived value of parcels near campus. UNC’s work on the Carolina North planning effort has amplified developer attention on adjacent properties, according to reporting by Chapelboro, which outlines the university’s push to expand research and housing capacity…