Title
Presentation on Redevelopment of Triangle Innovation Point West
Abstract
Action Requested:
Receive presentation on plans to redevelop Triangle Innovation Point West as a multi-tenant industrial park.
Introduction & Background:
Triangle Innovation Point (TIP) West is an approximately 400 acre site in Moncure at the intersection of Pea Ridge Road and Old US 1. With most infrastructure in place and a nearly pad-ready site, TIP West may provide a highly competitive speed-to-market advantage. Successful redevelopment would help increase industrial tax revenue and enhance nearby amenities. Developing the site as a multi-tenant park would provide resiliency. The development team has proposed improvements to share.
Discussion & Analysis:
How does this relate to the Comprehensive Plan:
The site is located within an Employment Center identified in the plan, and redevelops a former industrial site to make it appropriate for future investment.
Budgetary Impact:
None at this time.
Recommendation: Receive presentation.