Chatham County October Home Sales Up 59% Over Last Year

Home sales in Chatham County (where Briar Chapel is located) improved 59.2 percent in October compared to the year prior, according to the monthly market activity report released by Triangle MLS this week.

It was also reported that the county’s median sales price is up 14.3 percent to $323,500, while the average days on market is down 43.9 percent to 78 days compared to the year prior.

For other results, download a copy of the full October TMLS report.

Costco Selects More Convenient Location for Briar Chapel Residents

Triangle Business Journal has reported that Costco is planning to open a store in Apex. If this is true, then Briar Chapel residents will no longer have to drive 45 minutes to the Durham location in order to shop at the popular members-only warehouse discounter.

 According to the TBJ article, the Apex planning board recently recommended approval of a $50 million retail development project called Nichols Plaza on 35 acres fronting U.S. 64 at the intersection with Laura Duncan Road. A transportation engineer’s meeting notes shows that Costco will be the anchor tenant at Nichols Plaza with a 149,500-square-foot retail warehouse building and gas station, plus nine outparcels for other future retail and service businesses.

If all goes as planned, one source said construction was expected to begin in late-2014.

University Mall Transformation Continues w/ Silverspot Cinema to Open in 2015

University Mall, a 366,000 sqft regional shopping center located a short drive up 15-501 from Briar Chapel in Chapel Hill, is in the process of redevelopment and residents are taking notice. Anchored by award-winning gourmet retailer Southern Season, the mall is home to forty unique shops and restaurants.

In addition to several new tenants, including TrySports, Fine Feathers and Peacock Alley, mall officials just announced that Silverspot Cinema will be opening a 52,500 sqft premium movie theater complex in the current Dillard's location in early-2015.

Silverspot Cinema will debut independent and foreign films, as well as blockbusters and 3D films. Additionally, they will offer alternative content such as live broadcasts of international opera, ballet and theater performances, which will differentiate the theater from the traditional multiplex movie offerings in the area.

Silverspot will offer a stylish design and atmosphere complete with casual dining and a lounge area. The theaters will be equipped with state-of-the-art sound and projection technology, reserved stadium seating, and extra-large hand-stitched leather seats custom-made for Silverspot. Be sure to check out their website for photos and sample of offerings.