Hillsborough, NC 27278
Use type:Mixed useReview status:ApprovedCurrent status:The master plan is approved and special use permits remain valid for the single family and townhouse podsNext step:Permitting or new submissions
This mixed-use development has an approved master plan covering 330 acres of potential development. The acreage was divided into 22 pods, each of which will need special use permits in order to be developed. So far, special use permits have been approved for pods 1, 2, 3, 5, 7, 16, 17 and 22.
- Parcels 1 and 2 are under development as Waterstone Estates, a single-family neighborhood with 139 houses.
- Parcel 3 is under development as Waterstone Terraces, a townhouse neighborhood with 114 units.
- Parcel 5 is the community park, named Cates Creek Park for the creek that runs along the northern boundary.
- Parcel 7 is the Little School, a local daycare and preschool.
- Parcel 16 is the Durham Technical Community College Orange County Campus.
- Parcel 17 will be a townhouse neighborhood built by Lennar Carolinas, LLC.
- Parcel 22 is the UNC Hospitals Hillsborough Campus.
- 337.5 acres
- 134 single-family detached units (approved)
- 599 attached housing units (328 townhouses and 271 apartments) additional dwellings are possible as part of parcel 8
- 1.08 million nonresidential square feet (390,000 square feet approved)
Special Assessment Improvement District
The developers of the Waterstone project approached the town about using a new financing tool known as a Special Assessment Improvement District to fund the infrastructure and planned community park. For more information, see the Waterstone Special Assessment Improvement District page on this website.
Justin Good or Karl Hudson IV
Cushman & Wakefield | Thalhimer
Waterstone Master Plan (revised 10/16)