Chapel Hill Glenn Lennox Development Agreement Finally Approved!
(click here for article)
Historic Glen Lennox has finally been approved for new development by Grubb Properties. The property, which has been stagnant for 60 years, finally received town approval for redevelopment. This will be interesting to watch, as Glen Lennox is located perfectly near UNC and downtown Chapel Hill.
A few takeaways for your Compass:
Grubb has been pursuing development at Glen Lennox since 2008
70 acres are open to construction, 33% of them must be “open space” (aka 24/7 public space)
There is no limit on amount of housing units or commercial space Grubb can construct
20 yrs - Grubb is exempt from any town zoning changes
Regulations have been hashed out and Grubb Properties now has the right to the Glen Lennox project, but don’t expect development to happen anytime soon. A site plan has yet to be submitted by Grubb and with a 20 yr grace period on the property, Grubb should take as much time as they need to get the best development together to replace this iconic center in Chapel Hill.
- Capital Compass