Capkov Ventures has successfully obtained all necessary approvals to proceed with a mixed-use development on 99 acres of land in Hillsborough. The project will encompass 450 apartments, 205 townhomes, and a total of 240,000 square feet for neighborhood commercial and medical office space. Additionally, the development will feature a public connection to the nearby University of North Carolina’s medical campus.
The medical office space will be located adjacent to UNC Hospitals Hillsborough Campus and may potentially include a new hospital in the future. According to an economic analysis conducted by Capkov Ventures, this project has the potential to generate over 1,500 jobs.
As part of the rezoning process, Capkov Ventures agreed to several conditions such as improving Hillsborough’s sewer system and ensuring that at least 15% of housing units at Waterstone are affordable for individuals earning up to eighty percent of the area median income.
Construction is expected begin in fall of 2025 with initial focus on developing townhomes for sale as well as constructing facilities for medical offices and commercial use. This exciting news was originally reported by Connect CRE.
