Wandering Wednesday | Research Triangle Park (RTP)
You've probably heard the term "The Triangle" tossed around when referring to our vibrant region, but today, let's dive deeper into the core of innovation, Research Triangle Park (RTP). Nestled at the intersection of Raleigh, Durham, and Chapel Hill, RTP is more than just a geographical location; it's a hub of cutting-edge research and development. Join us as we uncover the essence of RTP, its real estate market, rich history, and exciting future.
🕰️ History 🕰️
The story of RTP dates back to 1959 when it was established with a vision to foster innovation and collaboration among local universities. Professors from North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill came together to create a research park that would keep graduates in the state. The arrival of IBM in the mid-60s was a pivotal moment, solidifying RTP's long-term success.
Today, RTP is one of the most prominent high-tech research and development parks in the United States, spanning a vast 7,000 acres and housing over 60,000 workers across more than 375 companies. Recent developments in the food, beverage, and entertainment sector have added delightful options to the area, such as Boxyard RTP and Glasshouse Kitchen.
🕰️ Future 🕰️
RTP is not resting on its laurels. This summer [FINALLY], Apple filed development plans for its new engineering and research center, signaling the park's continued growth and innovation.
Hub RTP's Horseshoe is currently under construction, poised to become the gathering place for the next generation of industry leaders and entrepreneurs. We can’t wait to see it come to fruition!
🏘️ The Market 🏘️
Now let's explore the real estate market in the RTP area, with data from the past 30 days as of Sept 13, 2023:
Currently, there are 52 active listings.
An impressive 46 listings are pending.
And total of 44 units have closed!
The average days on the market? A swift 13!
The median active list price stands at $472,445.
Recent sales have a median price of $443,500.
Adjacent neighborhoods to RTP offer a wide range of housing options, spanning different price points and home styles. Included in these numbers are: Estate homes in The Hills of Rosemont, Active Adult communities (55+) of Courtyards at Southpoint & Creekside at Bethpage, single family homes in neighborhoods like Audubon Park, Chadsford, & Jordan at Southpoint as well as townhomes in Cambrey Crossing & Meadows at Southpoint
✅ Things to Do ✅
RTP offers a wealth of activities and attractions for all to enjoy:
If you're a car enthusiast, don't miss Cars & Coffee on the first Saturday of every month, showcasing a dazzling array of sports, classic, and exotic cars.
Within RTP, you can catch concerts and game nights at Boxyard RTP, as well as participate in RTPFIT exercise classes, including yoga and strength training.
For outdoor lovers, Lake Crabtree is just a short drive away, offering hiking, biking, boating, and picnicking opportunities.
🥙 Where to Eat & Drink 🍻
The culinary scene in RTP is a treat for food enthusiasts. Here are some of our top recs:
· Glasshouse Kitchen & Twister Ladder: The minds behind Wye Hill have rolled out both Glasshouse Kitchen (delicious cocktails, pizza & more) and Twister Ladder (a delightful spot for breakfast, bowls & sandwiches). Check out our visit to Glasshouse Kitchen!
· The Goat: Whether you're gathering for a weekend football game or seeking classic breakfast favorites on a weekday morning, The Goat has you covered.
· Boxyard RTP: Don't miss out on the gastronomic wonders of Boxyard RTP. This bustling hub offers a diverse range of cuisines to please any palate. From global flavors to local favorites, there's something for everyone to savor. We recommend especially: Bulkogi, Buzzy Bakes, Beyu Caffe, Lagoon, and Lawrence BBQ.
RTP is not only a center of innovation but also a vibrant community with something for everyone - we hope you’ll check it out. Stay tuned for more exciting updates and spotlights on other neighborhoods around the Triangle!