RXR has encountered a setback in its first project at the 1,100-acre Veridea mixed-use community in Apex. The initial phase of Veridea will consist of around 1,500 multifamily units and 1,100 single-family homes and townhomes developed by Lennar Homebuilders. Additionally, there will be approximately 150,000 square feet of retail space as well as restaurants and commercial properties totaling to about 213,000 square feet. Wake Tech Community College is also set to have a new campus spanning over an area of about340 ,000 square feet.
The development is expected to create more than2 ,300 jobs annually for the next ten years in Apex. Construction on Phase I began with Samet Corporation overseeing major clearing activities along with site work and infrastructure.
Veridea is strategically located just two miles south from historic downtown Apex. Once completed,the mixed-use community aims to offer up to8 ,000 residential units along with3 .5 million square feet designated for retail,hospitality,and civic purposes.Additionally,it plans on providing up12 million squarefeetofcommercial space,a new elementary school under Wake County Public School System,and the latest campus for Wake Technical Community College.This ambitious $3 billion project holds great potentialforthe growthand prosperityofApex’s economy.
