123 West Franklin (University Square) - http://123westfranklin.com/. Be sure to follow progress on University Square. There was a meeting on September 8th, 2011 that described progress on the redevelopment design as well as this article in the Chapel Hill News http://www.chapelhillnews.com/2011/09/11/66732/saying-all-the-right-things.html. This property is now owned by the University Foundation and so heavy UNC influence is anticipated.
This project is expected to follow closely on the heels of 140 West Franklin. It will demolish the two existing retail/office buildings and place several buildings on the property that will include residential, retail, office and flex space. The buildings will be quite tall and much closer to the street than the current shopping center. A large interior green space is promised as part of the plan. As this will impact all of us who live in Chapel Hill, and those who enjoy walking on Franklin Street, we should each stay informed and participate in the discussions and permit request that will lead to the eventual design of this project.