The $3 billion Veridea mixed-use project in Apex will be the site for a children’s hospital run by the UNC Health and Duke Health teams. The Triad Business Journal reports that, in addition to the medical center, the project will include thousands of residential units and millions of square feet of commercial space. RXR is developing the 1,000-acre venture.

The 500-bed hospital will anchor a 230-acre medical campus at the intersection of U.S. 1 and Highway 540. The campus will also include an outpatient care center, more than 100 children and adolescent behavioral health beds, and a research and education enterprise backed by the UNC and Duke schools of medicine.

At full buildout, Veridea will bring approximately 8,000 residences, 3.5 million square feet of retail, hospitality and civic uses and 12 million square feet of commercial space, including industrial and office space.

RXR plans to start with 200,000 square feet of retail, which will start going vertical in 2026 around the same time as the multifamily portions of the project.