Agenda - 08-19-2010 - 1 - Laserfiche WebLink

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STgAMGY5 Section 3: Site Analysis The geographical market which is the focus of this analysis is located strategically within the Research Triangle of North Carolina that is comprised roughly of the City of Raleigh, the City of Durham, and the Town of Chapel Hill. The concept of the Research Triangle dates to the 1950's when the Research Triangle Park was begun — hosting the development of numerous high -tech companies and related office users. The region has approximately 2 million residents and is defined, in part, by the presence of the University of North Carolina at Chapel Hill, North Carolina State University and Duke University. The Triangle originally referred to these universities. The concentrated presence of these and other institutions of higher learning (15 in all) and associated research facilities have led to a demographic base that is well educated, and collectively serves as a magnet for business. During the week of January 11, 2010 the Strategy 5 Project Manager conducted a windshield survey of the principal office clusters with the Town of Chapel Hill boundaries and nearby areas. This was done with the assistance of the Economic Development Officer and included commentary and information on a variety of historical elements, input regarding future development plans, transportation and access, and other matters of importance to understanding and interpreting the office market in Chapel Hill. There are pockets of office space scattered throughout Chapel Hill, but most space is concentrated within seven clusters. See Location Map. - Weaver Dairy Road Commercial Area 2 - Eastowne Drive Commercial Area 3 - East Franklin Street 4 - Estes Drive Commercial Area 5 - Highway 54 East / Raleigh Road Commercial Area 6 - Downtown Commercial Area 7 - Southern Village Commercial Area 11 54