Editor’s note: See correction note below
Construction has started on the $123 million Carolina Square residential and commercial project on Franklin St. in Chapel Hill.
The three-building complex will have 159,000 sq. ft. of office space, 43,000 sq. ft. of retail and 246 apartments.
Cousins Properties and Northwood Ravin are partners for the work on the site of the former University Square buildings, which have already been demolished. The property is owned by UNC-Chapel Hill’s foundation.
The Triangle Business Journal reports that pre-lease assignments have already been made for 98,354 sq. ft of its total 156,000 sq. ft. of offices. Most of this space will be occupied by programs affiliated with UNC-Chapel Hill, including the Carolina Population Center and the Gillings School of Public Health.
North Carolina Construction News earlier reported in error that Brasfield and Gorrie is the project’s general contractor.
Brasfield & Gorrie is not working on this project. Early on, the company provided preconstruction services; however, the company is not the project’s general contractor.