Apex, NC Real Estate: Veridea? Is it time for a hugely ambitious development project in Wake County?

By
Real Estate Broker/Owner with Realty Arts NC Broker License #235526

Is Veridea a timely venture?

I guess the financiers and the market will determine, if the Town of Apex approves the project.

"Double the tax base," "30,000 jobs," "8,000 homes," multiple millions of square feet of offices, shops, manufacturing. 10-15 year project window. 

Immmediate concerns are water supply, and of course green space and environmental considerations.

I think the next leg of 540 is absolutely critical to project completion and success, but may well make it a winner. 

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Edited 6/11 to add/insert:

Well, "Correction is good for the soul."

Yesterday, I received an email from Lauren Simmons, Apex Town Planner.

It seems I failed to read the fine print as well as I might.

The maps posted below show the I-540/Salem Street Small Area Plan, as developed by the Town of Apex.

The proposed Veridea is not part of that plan, and does not even abut that plan.

The Veridea assemblage is south of US 1 and west of NC 55, while the I-540/Salem Street Small Area Plan straddles the Old US 1 corridor, a mile or so northwest of Veridea.

This map shows one of the tracts to be incorporated into the proposed Veridea project.  Zoom out and click around to discover other holding of HH Development, and you will begin to flesh out the scope of Veridea.

 

What can I say?

"My bad..."

#1 ranking in Google for search term "Veridea" and in error.

Shucks.

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The Town of Apex website has had a file posted on the small area plan that includes Veridea (WRONG).  It includes maps of the area, and the proposed project.

Project conceptualization.

Small area Land Use Plan.

Good studying for anyone who is interested.

Posted by

.

___________________________________________________________________________________________

Scan the QR Code with your Smartphone to Email MeQR CodeMike Jaquish, REALTOR®

919-880-2769 www.RealtyArts.com

Try my"No Hassle Home Search"

Visit the Triangle Real Estate Forum for hassle-free answers to your questions and discussion of local Triangle Topics.

 

Independent Broker/Owner, Realty Arts

130 Towerview Court,

Cary, NC

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Rainer
53,114
Scott Hoyt
Founding Partner, ChangingStreets.com - Cary, NC

Seriously, the villages where so succesful. There is an abundance of vacant commercial in all the new developments through out Apex. There is land to be used in currently unfinished developments. I would love to see the powers that be in Apex sit back and see if the last 7 years was brilliance or bull market.

I think the answer is "not for a while".

Great info and links.

Jun 09, 2009 01:51 PM #1
Rainmaker
786,727
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Scott,

I truly wonder where the money will come from anyway.

Thanks!

Jun 09, 2009 02:19 PM #2
Rainmaker
422,699
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

There seems to be a lot of speculation of where the 540 will end up in the Holly Springs area.  I would be curious to find out what the final plans will be.

Jun 11, 2009 03:53 PM #3
Rainmaker
786,727
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Nevin,

Speculation indeed.

It is pretty easy to follow the course of the study area and locate many tracts that NCDOT has already acquired over the years, and also to identify obvious speculative private investments in corridor parcels.

Jun 12, 2009 01:02 AM #4
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Rainmaker
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Mike Jaquish

919-880-2769 Cary, NC, Real Estate
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