The new developments there will include upscale apartments, a few small businesses, a parking deck, a large bike rack and a wider road to accommodate a bike lane. The apartments are expected to cost about $1,200 to $1,600 per month for a one-bedroom unit and $1,600 to $2,000 for a two-bedroom unit.
Lee Perry, development director for East West Partners, the apartments’ developer, said the units will be marketed toward graduate students, young professionals and empty nesters.
The new apartments are part of the Ephesus Fordham redevelopment project, Chapel Hill’s first form-based code project.
Form-based code projects are different from other development projects in the town because they streamline development by indicating how buildings should match their surroundings. Developments only need to be approved by the town manager rather than by the Chapel Hill Town Council.