05/12/2024
News release sent our way ...
*RXR Breaks Ground on Highly Anticipated Veridea Mixed-Use Community in Apex, N.C.*
APEX, N.C. (December 4, 2024) — RXR, the master developer of the mixed-use community Veridea in Apex, North Carolina, announced it has broken ground on the highly anticipated 1,100-acre development. Phase I of Veridea will include approximately 1,500 multifamily units, 1,100 single family homes and townhomes built by Lennar Homebuilders, 150,000 SF of retail, restaurants, and commercial space, 213,000 SF of industrial, and a new 340,000 SF campus for Wake Tech Community College.
The community is expected to bring more than 2,300 annual jobs to Apex over the next decade of development, resulting in $1.6 billion in cumulative labor income over the 10-year construction period. Samet Corporation, a full-service general contracting firm headquartered in Greensboro, N.C., began construction of Phase I of the $3 billion project, with major clearing, sitework and infrastructure work.
“This groundbreaking marks a major milestone in the Veridea story and our vision for the site. We’ve worked tirelessly over the past 24 months to get to this moment, which is an important step towards bringing a full-service community to life” stated RXR’s Executive Vice President of Development, Joe Graziose.
This key milestone follows RXR's opening of its Veridea Welcome Center in the Highline Building in downtown Apex in the spring of this year. The Welcome Center serves as the headquarters for RXR’s community efforts and a hub for engaging with neighbors, small business owners and potential Veridea residents and tenants that will fuel the live-work-play success of the project.
“Breaking ground on Veridea is a significant occasion for the future of the Town of Apex—both in the near and long term,” Mayor Jacques Gilbert added. “Our community will almost immediately feel the impact of this development in the form of much-needed investments in infrastructure and roadways, new jobs in construction and development and new patrons at our downtown shops and restaurants.”
Veridea is located two miles south of historic downtown Apex, which is recognized as one of the country’s best places to live and work. Upon completion, the dynamic mixed-use development is envisioned to include up to 8,000 residential units, up to 3.5 million square feet of retail, hospitality, and civic space, up to 12 million square feet of commercial space, a new Wake County Public School System elementary school and the newest campus for Wake Technical Community College.
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