Sneak peek: Renderings show first apartments slated for $3 billion Apex ‘mini-city’
AI-generated summary reviewed by our newsroom.
- RXR broke ground on Summit House, 291 apartments in Veridea’s first phase.
- Phase includes 1,500 multifamily units, 1,100 single-family homes and retail.
- Campus plans add $2B children’s hospital, Wake Tech campus and 8,000 jobs.
It’s taken almost 20 years to get off the ground, but Apex’s sprawling new “mini-city” is starting to take shape.
On Tuesday, New York-based RXR broke ground on the first multifamily residences inside Veridea, a $3 billion mixed-use community coming to roughly 1,100 acres between U.S. Highway 1 and N.C. 540.
Newly released renderings show two five-story apartment buildings called Summit House. It will bring 291 units, featuring one and two bedrooms from 680 to 1,269 square feet. A 399-car parking lot is also planned. Amenities include pool, fitness center, coworking spaces and outdoor terrace.
RXR has not yet disclosed price points.
Summit House is the “first opportunity to be part of Veridea’s vision,” RXR said in its release.
The Triangle-shaped site sits along N.C. 55, about two miles south of downtown Apex, and about 15 miles southwest of Raleigh. The first phase includes 1,500 multifamily units to be built by RXR and 1,100 single-family houses and townhomes to be developed by Lennar Corp.
It will also feature 50,000 square feet of retail, restaurants and commercial space; 213,000 square feet of industrial; and a new 340,000-square-foot campus for Wake Tech Community College.
Meanwhile, Duke Health and UNC Health are building a $2 billion children’s hospital inside the development. It will span 230 acres and create 8,000 jobs.
“This property was absolutely, unequivocally the clear choice,” Duke Health CEO Craig Albanese said in July when he announced the deal.
A long-awaited milestone
Veridea has been in the works since 2009. The property’s previous owner, Hudson Realty Capital, began assembling the land 17 years ago. But it hit legal roadblocks and never got its project off the ground.
RXR started scouting land in 2022 and eventually purchased multiple parcels for $91 million in March 2023, according to property records.
By 2035, Veridea is expected to offer up to 8,000 residential units; 3.5 million square feet of retail, hospitality and civic space; 12 million square feet of commercial space; and a new public elementary school.
Other amenities include trails, dog parks and bicycle paths. Eventually, four softball fields, six tennis courts and a 22,500-square-foot community center will also be added, the firm has said.
RXR has invested $166 million to improve the town’s sewer infrastructure. It’s also working with the Town of Apex to develop the Big Branch Sewer Basin and improve drinking and waste water.
As Apex’s population swells to over 72,000, demand for housing remains at an all-time high. The town estimates that by 2030, more than 120,000 people could be living in this satellite town of Raleigh.
This story was originally published October 29, 2025 at 12:54 PM with the headline "Sneak peek: Renderings show first apartments slated for $3 billion Apex ‘mini-city’."
