Business

Triangle and Miami developers plan to build community of 1,700 homes in Holly Springs

Courtesy of the town of Holly Springs

Plans have been submitted and approved for Carolina Springs, a nearly 400-acre mixed-use development with 1,700 homes that will include office and retail space in Holly Springs.

The developers of the project are Triangle home building company Shenandoah Homes and Miami-based home building company Lennar.

The development will have a variety of housing options. The planners want to build the project in five phases over the next seven years.

The property, at the southwestern corner of N.C. 540 and U.S. 1, is designed as a planned unit development — a grouping of varied and compatible land uses within a defined development or subdivision. The maximum residential density is listed as 4.5 units per acre.

Carolina Springs Aerial Map
Aerial map of the Carolina Springs site. Courtesy of Wake County

The 139-page master plan for Carolina Springs, filed with the town of Holly Springs, outlines four main elements:

Town Center District — A commercial area of 120,000 to 400,000 square feet, around 21 acres, with eight units per acre, and a four-story maximum for buildings. To be built with an adjacent fire station, it is expected to be completed in 2021.

Innovation District — Between 200,000 and 500,000 square feet, around 36 acres, also eight units per acre with a maximum height of 12 stories. The area is designated for commercial office, hotel, and a recreational indoor sport facility. It is also expected to be completed in 2021.

Village Square District — Between 20,000 and 100,000 square feet, around 78 acres with 15 units per acre, this will be a residential and mixed-use area. Buildings will be at least two stories and at most five. Expected to be completed in 2023.

Neighborhood District — A residential area of about 135 acres, with a two- and three-story houses.

The plans call for a town park of around 25 acres, a public greenway trail of around two miles and 40 to 100 acres of green space.

Wake County land records cumulatively list the land value as over $16.5 million. Shenandoah Homes filed a rezoning request in 2017 and 2018 for the land, which was previously owned by Duke Energy.

The Holly Springs town council unanimously approved the plan on May 7. Construction is expected to begin next year.

The Triangle Business Journal reported that Shenandoah Homes partnered with Lennar, one of the largest home construction companies in the United States, to be able to handle a project as large as Carolina Springs. Shenandoah Homes will build commercial space and apartments, and Lennar will build single-family homes and townhomes.

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Aaron Sánchez-Guerra is the Growth and Business reporter for The News & Observer and The Herald-Sun. He covers real estate, business, and development in the Triangle area. He previously worked at WLRN Public Media in Miami and as a freelance journalist in Raleigh and Charlotte covering the Latino population and related topics. He is a graduate of North Carolina State University, a native Spanish speaker, and was born in Mexico.
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