Apple's $1 Billion Investment in The Research Triangle is an overview of the pledged investment by tech giant Apple in North Carolina and our relocation guide for those moving to the Research Triangle. As if real estate values were not increasing fast enough with the current Chapel Hill/Durham/Cary market, this announcement from Apple will witness even more demand for the already constrained local inventory. The tech industry experienced a boom in 2020 and as North Carolina benefits from the Apple investment, home owners and developers can expect increases in property values. My NC Homes explores the implications and predicts which areas will see the most growth.
Overview of Apple's $1 Billion Investment
In total Apple is investing $430 billion in the United States market, in concert with President Biden's infrastructure investments, which represents an increase of $130 billion than was originally slated last year. How do these investments look and why are they structured the way they are?
First, Apple will be investing and building a campus in The Triangle, but they've also committed to investing in infrastructure throughout North Carolina, building and improving roads, increasing broadband capabilities, and building and improving bridges. These are basic infrastructure improvements that are pledges to the community. Second, Apple will be investing in the area schools including Duke, UNC, and NC State and Campbell University. They will establish a $100 million fund for schools and contribute up to $110 billion investment in the 80 poorest counties in North Carolina. Lastly, the campus building will create 3,000 new jobs.
It is difficult to predict the compound long term implications of private investment of this magnitude but we can predict some areas that are going to experience growth. Here are our neighborhoods to watch and if you are part of the Apple team to relocate to The Triangle, below are our recommendations for real estate.
Neighborhoods Close to The Apple Campus Research Triangle
We predict that real estate in North Chatham County, Durham, Raleigh and Cary will be the preferred areas for those working at the new Apple campus. These areas offer easy commutes, are central, and have great amenities, in terms of dining, culture, and charm. Some of the neighborhoods we think will likely see increased interest are; Governors Club, The Preserve at Lake Jordan, McGregor Downs, Preston, Jameson Cove, Bella Casa, The Hamptons, Chatham Park, and Downtown Durham. This doesn't mean other areas of the Research Triangle won't see increased interest as well, so no angry comments please. If you are relocating to the Research Triangle of North Carolina, here are some of our top choices.
The Governors Club was established in 1988 in Chapel Hill and is an exclusive gated golf community 13-minutes to downtown Chapel Hill. It is a luxury community is North Carolina, offering homebuyers world-class amenities, privacy, and award-winning golf, just steps away from the Triangle.
The Preserve at Jordan Lake is a new neighborhood is located beside the 14,000-acre Lake Jordan, offering vistas of rolling woodlands, brooks and acres of preserved hardwood forest. Amenities include boating, fishing, hiking and golf on a Davis Love III signature 18-hole golf course. It offers a remote feeling, but is minutes away from The Triangle.
McGregor Downs is a popular neighborhood in Cary, NC offering a range of real estate from multi million dollar, to several hundred thousand dollar single family homes, proximately located to the Research Triangle. It is a golf community and is close to Downtown Cary as well.
Preston is also located in Cary, NC and offers the prestigious country club, Prestonwood in walking distance from some of the incredible properties available. It is walkable neighborhood and provides easy access to the Raleigh Durham International Airport.
Jameson Cove is a new home luxury development between Apex and Cary, offering custom luxury homes in close proximity to the Research Triangle. With a shortage of available existing homes for sale, the custom home options are becoming more and more popular with buyers in addition to those buyers who place sustainability and energy efficiency high on their list of priorities. There are limited spaces available for development
Bella Casa is a subdivision in Apex, NC, also a neighborhood that we anticipate to get many interested buyers from the Apple influx. Apex was ranked #1 place to live in the US, and its real estate and lifestyle are desirable whether you are a growing family or looking for retirement options. There is a good amount of variety of real estate available in Apex, from new townhomes to existing single family homes.
The Hamptons neighborhood is located in popular Pittsboro. Pittsboro is just west of Raleigh and has the appeal of the Pacific Northwest with independent shops and restaurants in its downtown, and also has Jordan Lake and Haw River nearby for outdoor enthusiasts.The Hamptons new home development are custom homes that will be in the million dollar range, however homes of this size in Silicon Valley would fetch four times the price.
Chatham Park is also located in Pittsboro but offers luxury townhomes and condominiums as well as single family homes. This area is most likely to appeal to Apple transplants as there is a premium placed on connectivity and sustainability. A variety of housing options are available in Chatham Park and the amenities will be such that you will have everything you need within walking distance.
Downtown Durham is experiencing a renaissance and many young people, fresh in their careers, are choosing to buy in Downtown Durham. It offers a walkable lifestyle, energy-efficient designs, and connectivity to the Triangle. It offers an abundance of preconstruction opportunities for those moving to The Triangle.
We hope these brief descriptions satisfied at least preliminary interest in real estate in The Research Triangle. My NC Homes has over 50 years of experience transacting here in preconstruction and existing real estate and we are a go-to source for relocation service in The Triangle. Contact us today!
Posted by Larry Tollen on