Cousins Properties enters JV on Chapel Hill project

Working with UNC to tear down and redevelop the University Square property, and build a multi-use facility, Cousins Properties (CUZ +0.3%) brings in Northwood Ravin to handle the multifamily aspects of the $100M project.

Demolition of the five buildings is expected to start before year's end, with construction starting shortly after. The development will include two five-story apartment buildings with ground-floor retail, and an 11-story office building, and should open in 2017.

It's Cousins' first time working with Northwood Ravin, which has done a number of Chapel Hill projects.

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