Major Hillsborough project just broke ground, reshaping key corridor near I‑85
AI-generated summary reviewed by our newsroom.
- Construction started on Persimmon at Cates Creek, a 346-unit apartment/townhome community.
- Site sits on 38.64-acre Moren Tract between I‑85 and I‑40 near northwest Hillsborough.
- Leasing opens December 2026 amid tight Hillsborough market and rising prices.
Construction has begun on Persimmon at Cates Creek, a 346-unit apartment and townhome community in southeast Hillsborough.
Developed by Charleston-based The Beach Company, the project sits on what’s locally known as the “Moren Tract,” a 38.64-acre undeveloped swath of land at 1400 Cates Creek Parkway.
For years, it’s been earmarked as prime real estate for development.
It’s positioned between I-85 to the north and I-40 to the south, two of the region’s busiest highways.
“We’re thrilled to see Persimmon starting to take shape,” said John Reyna, development manager at The Beach Company, in a release.
Among the amenities: pool, fitness center, community club room, entertainment lounges, bicycle racks and picnic areas.
Pricing hasn’t been released, but comparable new Class A communities in Hillsborough lease from the mid‑$1,500s for one‑bedroom apartments to the mid‑$2,000s for larger townhomes.
Leasing will begin in December 2026, the firm said.
Market snapshot
As mortgage rates ease, incomes rise and a surge of new construction floods the market, conditions are slowly improving for buyers, experts say.
Even so, the Hillsborough housing market is still “very competitive,” according to Redfin.
In December 2025, the median sale price for all housing types (single-family homes, townhomes and condos) stood at $428,000.
That’s up 8.4% year over year.
On average, homes sell after 26 days on the market compared to 31 days last year. There were 13 homes sold in December, up from seven a year earlier.
This story was originally published January 19, 2026 at 7:00 AM.
CORRECTION: The original version of this story incorrectly stated the location of the plot of land. It’s southeast of downtown Hillsborough.
