By Kate Tracy via Triangle Business Journal | March 4, 2025 | Click here to view original article
Local and national brands are adding vibrancy to a Chapel Hill mall redevelopment that’s long been in the works.
The revamp of University Place started construction in September 2022. It's added a handful of retail businesses that have opened or signed leases recently.
The project is part of a trend in commercial real estate where traditional malls are being remade into "live, work, play" destinations.
The Commons, which features 30,000 square feet of outdoor space, seating and swing benches, is now open, along with Ohio-based Jeni’s Splendid Ice Creams, which officially opened last week at 223 S. Estes Drive.
Meanwhile, The Salty a Miami-based doughnut shop, and fitness studio Solidcore plan to open near The Commons this fall. The Salty is also planning a location in Cary’s Fenton development. Solidcore, with locations around the country, is also growing in the Triangle with one studio in Raleigh and a second on the way in Durham.
University Place has also added a Chick-fil-A, which opened at 241 S. Estes Drive. Other recent leases along Fordham Boulevard include sauna and cold plunge studio Sweathouz, WakeMed MyCare 365 and Veterinary Emergency Group. Sweathouz's Raleigh franchisee opened his first Triangle studio at Seaboard Station last year.
University Place’s new apartment community, 900 Willow, has a number of signed leases in hand. The Soap and Shine is locally owned and sells handmade soaps, candles, bath bombs while offering a number of classes and summer camps.
Palette and Parlor, also located at 900 Willow, sells modern furniture from a variety of brands. In addition, Alfredo’s Pizza is relocating from the former mall to 900 Willow.
Other recent leases at University Place include the expansion and relocation of the Frame & Print Shop, and Chase Bank recently opened at 217 S. Estes Drive at University Place.
Ram Realty Advisors, based in Florida, purchased University Place in 2018 for $51 million, and has since been working to transform the traditional mall into a “live, work and play” neighborhood.
ABOUT RAM
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $4.5 billion of capital. Ram and its predecessor entities were founded in 1978. The company is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, Florida; Charlotte and Chapel Hill, North Carolina; and Nashville, Tennessee. www.ramrealestate.com
MEDIA CONTACTS:
On behalf of Ram Realty Advisors:
Monty Hagler
Rivers