RALEIGH – The Charlotte-based commercial real estate developer Lincoln Harris has been selected by North Carolina State University to develop the first phase of redeveloping Centennial Campus.
North Carolina State announced its plans recently, noting that the Board of Trustees of the Endowment Fund of NC State University entered into agreements with Lincoln Harris in partnership with Goldman Sachs Asset Management.
The university stated that the project’s goal is the development “of approximately 30 acres of land north of the Oval as a mixed-use “learn/live/work/play” environment.”
Initial site work could begin as early as 2022, the university noted.
Lincoln Harris is also the firm of record for leasing multiple buildings on the campus at North Carolina State University, Venture I and Venture II, according to the Lincoln Harris website.
The future development of the “Oval Innovation Park” is meant to “expand and supplement the existing innovation ecosystem in support of the university’s education, research and statewide outreach mission,” the university stated. “This project will also provide ample new amenities to serve the university community and as well as partners on Centennial Campus,” the university noted in its statement.
In total, the redevelopment of Centennial Campus is anticipated to occur throughout the next ten or so years, according to the university.
Big changes are coming for NC State’s Centennial Campus with rezoning OK from city
The project will be developed in phases over the next decade or more, with initial site work commencing as early as 2022.
The university’s rezoning request was approved in May 2021. The new zoning plan allows the development of buildings of up to 28 stories tall, which would be the highest buildings for North Carolina State University.
“Future development on Centennial Campus will present additional opportunities for NC State to further its academic and research endeavors,” Alicia Knight, the associate vice chancellor for real estate and development at North Carolina State University, said in a written statement published on WRAL TechWire in May. “We will also have the opportunity to continue establishing meaningful partnerships that bring value to private partners while fulfilling the university’s mission.”
“This is a win-win,” said Knight. “And the type of value proposition that Centennial Campus provides.”
In total, the university sought rezoning approval for about 975 acres of land, including the 32 acre site to be developed by Lincoln Harris. The 32 acre site of the university’s planned “innovation district” includes the plans for the 28-story towers, and no other section of the approved rezoning includes buildings that high, Knight noted to WRAL TechWire in May.
In total, the university plans to add nearly 2 million square feet of space.
The Triangle Business Journal reported last month that the university began conversations with Lincoln Harris about the project in 2019.
NC State unveils a new Centennial Campus vision – from 28 story towers to more density
