Article: UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL FOUNDATION TO ACQUIRE UNIVERSITY SQUARE-GRANVILLE TOWERS CHAPEL HILL ANNOUNCES EARTH ACTION DAY

The city of Chapel Hill issued the following press release:

The University of North Carolina at Chapel Hill Foundation will purchase the University Square-Granville Towers complex in downtown Chapel Hill.

After the sale, the UNC-Chapel Hill foundation plans no immediate changes in the current property use mix of retail, office, parking and UNC student housing.

But with input from the Town of Chapel Hill and community, University leaders say the sale could enhance the property's commercial presence in the downtown business district. The deal will not affect the local property tax base since the UNC-Chapel Hill foundation will keep paying taxes - the 2007 total bill exceeds $868,279 - to ...

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