At WithersRavenel’s latest LandCon event, industry leaders examined key trends shaping land development in the Triangle. Growth remains strong within a 45-minute radius, particularly in Fuquay-Varina, Apex, Holly Springs, and Sanford, driven by infrastructure expansion and the NC 540 extension set for completion in 2028. Chatham and Harnett counties are also seeing increased activity as demand spreads outward.
Market Challenges and Shifts
Despite sustained demand, several challenges impact development:
- Rising land and housing costs limit buyer options, while delays in water and sewer expansion and municipal approvals extend project timelines.
- Institutional capital remains available, but higher requirements and shifting seller expectations complicate deal structures.
- Rising construction costs and fluctuating interest rates are narrowing the buyer pool, increasing market uncertainty.
- The flex industrial sector remains strong, but land scarcity is pushing large-scale projects to the periphery.
Opportunities and Market Outlook
Streamlining entitlement and approval processes is critical to avoiding delays, and bridging the gap between seller expectations and market conditions will sustain deal flow. While the multi-family sector is currently slower, it is expected to rebound in late 2025 and 2026, creating early investment opportunities. Notably, demand for walkable, mixed-use developments integrating residential, retail, and commercial spaces continues to grow, emphasizing the need for thoughtful community planning.
Placemaking as a Development Strategy
In a panel-led discussion, placemaking emerged as a priority for enhancing development success. Public-private partnerships, accessible amenities, and multi-generational planning are key to creating vibrant communities. Developers are focusing on integrating public spaces with businesses to foster engagement and long-term sustainability.
Industry Priorities
By the end of the event, LandCon attendees highlighted the need for expanded water and sewer infrastructure, increased availability of developable land, and a more transparent regulatory process to reduce uncertainty and streamline projects.
Looking Ahead
While challenges persist, opportunities remain. By addressing regulatory hurdles, adapting to market shifts, and embracing placemaking, industry professionals can drive successful development in the Triangle.
