Starting at $325,000: Pre-sales begin for ‘transformative’ project in Chapel Hill
AI-generated summary reviewed by our newsroom.
- Pre-sales launched for South Creek’s 815-home project starting at $325,000.
- Full buildout includes 606 condos, 100 townhomes, and 92 rental apartments.
- Development adds trails, retail, public spaces and 80-acre nature preserve.
Homes in a new 43-acre Chapel Hill neighborhood across the highway from Southern Village’s Market Street business district have hit the market.
Roughly 15 years since a developer first tried — and failed — to build homes on U.S. 15-501, New York-based developer The Beechwood Organization and its local division, Beechwood Carolinas, have launched pre-sales for the first phrase of South Creek’s 815-home planned community in southern Chapel Hill. The $500 million project, currently under construction, sits at the southeastern corner of U.S. 15-501 and Market Street extension.
Currently available are 68 condos, including studio, one-, two- and three-bedroom homes, ranging from 522 to 2,234 square feet.
Prices start at $325,000. It’s expected to deliver in mid 2027.
“South Creek is starting to take shape,” said Steven Dubb, The Beechwood’s principal and president, in a release. “We’re creating a distinct blend of amenities and a living environment unlike any this area has seen before.”
Prospective buyers can now visit an on-site sales gallery to explore floor plans.
The full buildout of South Creek will take several years, the firm said. Once complete, it will add 92 apartments for rent and 606 condos and 100 townhomes for sale.
The market-rate townhomes and condos could cost up to over $1 million, The N&O previously reported.
About 100 housing units — 15% of the condos and townhouses and 10% of the apartments — will be priced at below market rates.
The business district will feature 21,000 to 52,000 square feet of commercial and retail space. That includes a public lawn, plaza for outdoor dining, and a 6,000-square-foot restaurant with a terrace overlooking Wilson Creek and the park.
The firm said the retail mix would complement businesses in Southern Village, which include Weaver Street Market, coffee shops, and restaurants, retail and entertainment.
An 80-acre public nature preserve and trails, as well as Wilson Creek, which will also be open for residents and the public.
More green spaces will be near the Sumac Road intersection, where co-working and pop-up business space is possible.
South Creek replaced Obey Creek
South Creek occupies a footprint similar to what the Town Council approved in 2015 for Obey Creek.
Obey Creek developer East West Partners went through a multiyear public process to secure a development agreement with the town. But in the end, they failed to find the retail and office tenants needed to start construction.
In 2021, Obey Creek Ventures LLC sold the land to Beechwood Obey Creek LLC, a subsidiary of the Beechwood Organization, for $7.25 million, county records showed.
Tammy Grubb contributed to this report.
