Developers hoping to attract a major retailer have acquired a purchase option on a site in northern Chapel Hill.
The national brand retailer would be one of two “substantial businesses” in a mixed-use project off Eubanks Road, near the Interstate 40 interchange, says Dwight Bassett, the town’s economic development officer.
“I’ve heard Target. I’ve also heard Costco,” says Aaron Nelson, president and CEO of the Chapel Hill-Carrboro Chamber of Commerce. “BJ’s [Wholesale Club] is the one I’ve heard most.”
Broker John Morris confirms the project would have retail, office and residential components. He won't name possible tenants.
“All of that is rumor mill at this point,” he says. “It’s going to be a very complex project. It’s going to take a while to work through the paces.”
The developers hope to bring a concept plan to the Chapel Hill Town Council in May or June, before the council breaks for summer. A concept plan is a rough outline that lets town officials give developers feedback before a formal application.
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