New Jobs Coming to RTP
Research Triangle Park has announced the first phase of its redevelopment — Park Center.
After acquiring $17M to purchase 100 acres near I-40, RTP announced that this expansion will lead to nearly 100,000 new jobs. The new project will require up to $2 billion in private investments to assist in development of residential and retail buildings.
This new development is amazing news for both buyers and sellers in the Triangle area. The 100,000 new jobs that will be created will bring an influx of newcomers to the area and boost the local economy. New residential development will be amazing for those looking to move to the area or those that are looking for a change from their current home. Newcomers to the area will be looking for a home and will become potential buyers for homes currently on the market.
A site plan is in the works for the new development, and initiating this ambitious plan from the Park Center site speeds up the process by a year, instead of the original redevelopment site off Cornwallis Road. However, the plan is contingent on the completion of a rail station.
The project is bounded by I-40, Davis Drive, N.C. 54 and N.C. 147. The Governor’s Inn and more than a dozen older office buildings on the property have remained vacant for years, and they will be abolished in the coming months.