Despite more than 12 years of planning, officials still aren’t sure when construction will start on a campus expected to be a “world-class magnet.”
Jack Evans, executive director of Carolina North, said plans for construction of the satellite campus’ first building, the Innovation Center, have been delayed due to the state’s financial troubles.
“The state of the economy, the state of the credit market and the state of the state’s budget — all of those affect the various things that we want to do with Carolina North,” Evans said. “That includes the Innovation Center.”
Evans said the Carolina North annual report will describe in detail the financial difficulties that have afflicted the project and led to its delayed construction.
University officials have until 5 p.m. today to submit the report to the Town of Chapel Hill Planning Department.
Carolina North is a 250-acre mixed-use campus situated two miles north of UNC off of Martin Luther King Jr. Boulevard.
The project is designed to bring global leaders in research, entrepreneurship and academics to the state.
The Innovation Center has been slated to house high-growth start-up companies with links to UNC research.
Evans said the annual report also mentions that there has been no development activity at the site, nor is there any planned to begin for the rest of the fiscal year.
“The state of the economy has affected everything related to Carolina North,” he said. “That also includes our hopes to build a new building for the law center.”
