10 things to know about Veridea, the $3B ‘mini city’ set to transform Apex
Key Takeaways
AI-generated summary reviewed by our newsroom.
- Veridea is a 1,100-acre development first pitched in 2009 and revived in 2023.
- RXR has cleared nearly 140 acres and invested $166 million in infrastructure at the site.
- By 2035 Veridea could include 8,000 homes, 3.5M sq ft retail and 12M sq ft commercial.
On a Triangle-shaped site two miles south of downtown Apex, the developer RXR is carving out the first streets of Veridea — the long-stalled, 1,100-acre “mini city” finally roaring to life after years of false starts.
The New York-based developer is also fast-tracking Veridea Crossing, a $100 million retail village that is said to be drawing grocers, fitness brands and national soft goods players before a single lease is announced.
Together, they form the clearest picture yet of how Apex plans to grow: big, dense and mixed-use.
Here are highlights:
- It’s a 1,100-acre “mini city” 16 years in the making — First pitched in 2009, Veridea stalled for more than a decade before RXR revived it in 2023. It will be built in phases between U.S. 1 and N.C. 540. The eastern edge is along N.C. 55 near Technology Drive. It is about 3 miles south of downtown Apex.
- The site is massive — Nearly 140 acres of woodland have been cleared, marking the first visible phase.
- RXR is betting big on the Triangle — The developer calls the region a “superstar” market and has already invested $166 million in infrastructure alone.
- The first homes are underway — RXR has broken ground on Summit House, a 291-unit multifamily project. Pricing hasn’t been released.
- Site work has begun on Veridea Crossing — The 220,000-square-foot district sits on the eastern edge of the site along N.C. 55. Leases aren’t public yet. Delivery expected in late 2027.
- Two major institutions anchor the plan — A 34-acre Wake Tech Community College campus and a 230-acre North Carolina Children’s Hospital will bring 8,000 jobs.
- The full build out is enormous — By 2035, Veridea could include 8,000 homes, 3.5 million square feet of retail/hospitality/civic space, 12 million square feet of commercial space, plus a new elementary school.
- It’s designed as a lifestyle district — Trails, dog parks, bike paths and neighborhood scale amenities aim to create a “live-work-play” environment.
- Apex sees it as a turning point — With the town projected to top 100,000 residents by 2030, leaders say Veridea will “illuminate” Apex’s next era of growth.
Chantal Allam
The News & Observer