140 West Franklin Celebrates Construction Milestone

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Chapel Hill, N.C. – Ram Realty Services recently hosted homeowners and invited guests to a celebration of the topping out of 140 West Franklin. The event marked the culmination of upward construction of the 140 West Franklin mixed use development. When completed, 140 West Franklin will feature exciting retail and restaurant offerings in addition to 140 luxury condominium homes. 140 West Franklin features four stories along Franklin Street before stepping back to rise to eight stories at the center of the site. Parking is provided in an underground structure. The two construction cranes, one 160 feet and the other 200 feet tall, are active daily on site as progress continues. More that 60% of the signature homes have been sold.

“It is an absolute joy to celebrate this milestone,” said Peter Cummings, chairman of Ram Realty Services. “In today’s economic climate, to be celebrating a successful residential and commercial development is a testament to the strength of the project and the appeal of Chapel Hill. As we top out the vertical construction of 140 West Franklin, we signal to the community that as one phase ends, a new phase of construction is beginning. One that leads directly to our next big celebration – our Grand Opening – where we will welcome our homeowners, and our new community of restaurants and shops, into their new home.”

140 West Franklin, with an approximate cost of $55 million and financing from Wells Fargo, is being built by Ram as the focal point of the Town of Chapel Hill’s Downtown Economic Development Initiative. The Town of Chapel Hill has created a dedicated web page for 140 West information at www.townofchapelhill.org/140west.

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