By Marie Muir
On Sept. 22, 2020, the Research Triangle Foundation hosted a virtual launch event to mark the start of construction on Hub RTP – a $1.5 billion, 44-acre development that will include office, residential, retail, hotel space and 13 acres of green space. Located at the intersection of Davis Drive and I-40, Hub RTP will be central to the Triangle.
“This investment by the Research Triangle Foundation, Durham County and our 300+ companies propels RTP into the future to meet the expectations of employers and the talent they recruit to North Carolina,” said Scott Levitan, RTF president and CEO. “Hub RTP has been designed and programmed to be the business threshold for our region.”
The virtual launch event included presentations by project stakeholders, demolition footage and guest speakers from neighboring Boxyard RTP and Frontier RTP. The Caraway Management Group produced the virtual event with visual storytelling by Mastermind Productions, and live stream and video production from The Tech Factory.
RTF announced in December that it selected White Point, a Charlotte, North Carolina-based private real estate investment firm, as its retail partner for the first phase of the development. White Point will develop approximately 25,000 square feet of experiential retail surrounding a large, outdoor plaza, which will feature outdoor seating, a splash fountain and gathering spaces that engage with the adjacent natural stream and green space, as well as potential rooftop terraces. At least 25,000 square feet of creative office will be developed in conjunction with, and sit above, the retail. The 50,000-square-foot mixed-use project is estimated to cost $20 million, and completion is expected in Q2 of 2022. Co-developed by White Point and KDC Real Estate Development & Investments, this project will commence the vertical development at Hub RTP.
“White Point is thrilled to partner with both KDC and RTF. By providing a truly unique experience here at Hub RTP for future guests and employees, we hope to create a new focal point for Research Triangle Park,” Jay Levell, co-founder of White Point, said in a press release. “We intend to leverage our past developments to create an interesting space paired with successful food and beverage for the benefit of RTP.”
Working closely with RTF and Duda Paine Architects, the architecture is meant to integrate Hub RTP’s natural and distinctive landscape with the future office, residential and hospitality developments. Upon completion, these future developments will include up to 1 million square feet of class-A office space developed by KDC, 800 residential units developed by MAA and potential for two hotels.
To learn more, visit Hub RTP’s newly launched website hub.rtp.org.