CORRECTION: Due to a reporting error, Tuesday's front page story "Office space leaves room for growth" incorrectly stated the address for Keona Health. The business is located at 100 Europa Drive, suite 390 in Chapel Hill. The story has been updated to reflect this change. The Daily Tar Heel apologizes for the error.
According to the Chapel Hill Department of Economic Development, more than 900,000 square feet of approved office space exists in Chapel Hill.
Approved but not-yet-built development projects contain most of that space, Chapel Hill economic development officer Dwight Bassett said in an email.
In downtown, 123 W. Franklin St., the current location of University Square, will offer up 150,000 square feet of available office space.
The Glen Lennox development at the intersection of U.S. 15-501 and N.C. 54 will offer 600,000 square feet. Earlier this year, a plan was also approved to reconstruct the area at the intersection of Ephesus Church Road and Fordham Boulevard, adding 200,000 square feet of office space in new developments.
Bassett said 200,000 square feet of the empty office space already exists. He said the town’s goal is to lower the vacancy rate of available space from 12.7 percent to 10 percent.
Jim Kitchen, founder of business incubator 1789 Venture Lab and mentor at Launch Chapel Hill, said it is important to have available office space to keep local startups in the area.