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The Mouse wants to build you a house in the Triangle.

Driving the news: Storyliving, a housing developer owned by Disney, said Wednesday it will build a 1,500-acre neighborhood community called Asteria in the Chatham Park development in Pittsboro.

Why it matters: The community will form a significant portion of the planned Chatham Park development, which is the brainchild of the Cary developers Tim Smith and Julian "Bubba" Rawl.

When it's completed over the next two decades, Chatham Park — located around 30 miles west of Raleigh — is anticipated to be home to 60,000 people.

Details: The neighborhood, which will host Disney-themed activities and events once open, will include 4,000 housing units in both single-family homes and apartments.

A portion of the homes would be reserved for people over 55 years old.

Other amenities expected to be built include: a gym, restaurant, swimming pools and a community garden.

Home sales are expected to begin in 2027.

The big picture: Residential communities are a new line of business for Disney, which announced its first last year.

The communities, designed by Disney's research-and-development teams, are an effort to extend its theme-park businesses into new areas, the Wall Street Journal previously reported.

It's the second Disney-backed community to be announced in the U.S. after one in Rancho Mirage, California.

Disney to build "Asteria" neighborhood in the Triangle

It is the second Disney-backed neighborhood project announced in the U.S.

An artist's rendering of Storyliving's Asteria community. Photo: Storyliving

Disney

The Mouse wants to build you a house in the Triangle.Driving the news: <a class="gtmContentClick" data-vars-link-text="Storyliving" data-vars-click-url="https://www.storylivingbydisney.com/" data-vars-content-id="0778e750-adce-4ed7-8424-73aaa59fe145" data-vars-headline="Disney to build &quot;Asteria&quot; neighborhood in the Triangle" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.storylivingbydisney.com/" target="_blank">Storyliving</a>, a housing developer owned by Disney, said Wednesday it will build a 1,500-acre neighborhood community called Asteria in the Chatham Park development in Pittsboro.

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Forge Nano, a Colorado-based battery company that picked Morrisville for a new manufacturing facility, could be at full production in the Triangle in two years, its CEO Paul Lichty told Axios.

Why it matters: Forge Nano is one of several companies contributing to a growing "battery belt" in the Southeast and specifically in North Carolina, as Lichty put it.

With companies like Toyota and Epsilon Advanced Materials picking the state for expansion, state leaders have placed a big bet on batteries becoming a significant source of employment.

Driving the news: Forge Nano announced Nov. 14 plans to invest $165 million into a new battery production facility at 401 Southport Dr. in Morrisville, and hire around 200 people by 2027.

It's currently in the process of making its existing building fit its needs for manufacturing.

The state, Wake County and Morrisville gave the company around $3.2 million in combined incentives for the facility.

The intrigue: Lichty said that Forge was looking at several states, but found the Triangle attractive for its central location in the supply chain for batteries as well as its talented workforce.

And, Lichty said, it's simply an attractive place for people to live.

What they're saying: "There are examples in the battery market of building battery factories at places where people don't want to work and having hiring problems," Lichty said.

But the Triangle, much like Colorado, he added, is great at getting people to move there and stay.

Details: Forge, founded in 2011, wants to produce battery cells at its Morrisville plant that feature its own protective, nano-coating technology.

The company raised $50 million from investors earlier this year to boost its production of batteries.

The big picture: The battery business is becoming more competitive, as industries across the board seek to go greener through electrification.

As a relative newcomer, Lichty said Forge has gotten a foothold by focusing specifically on the defense and aerospace industries, providing batteries for objects like radios and other electronics.

"The average soldier carries about 20 pounds of batteries on them at any given time," Lichty said. "So if we can improve the energy density and either remove 20% of that weight, or give them functionality for something else, that's what [the Department of Defense] is motivated to see."

Forge Nano's new Triangle factory will add to North Carolina's growing 'battery belt'

Forge Nano's future factory in Morrisville is the latest in a string of battery expansions in the state

Three batteries as the bars of a bar chart, each one increasing in height.

Batteries

<a class="gtmContentClick" data-vars-link-text="Forge Nano" data-vars-click-url="https://www.forgenano.com/" data-vars-content-id="3506d725-011a-4998-96cb-ddbe5854ed4a" data-vars-headline="Forge Nano&#x27;s new Triangle factory will add to North Carolina&#x27;s growing &#x27;battery belt&#x27;" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.forgenano.com/" target="_blank">Forge Nano</a>, a Colorado-based battery company that picked Morrisville for a new manufacturing facility, could be at full production in the Triangle in two years, its CEO Paul Lichty told Axios.Why it matters: Forge Nano is one of several companies contributing to a growing &quot;battery belt&quot; in the Southeast and specifically in North Carolina, as Lichty put it.<ul><li>With companies like <a class="gtmContentClick" data-vars-link-text="Toyota" data-vars-click-url="https://www.axios.com/local/raleigh/2023/10/31/toyotas-north-carolina-battery-plant-is-getting-even-bigger" data-vars-content-id="3506d725-011a-4998-96cb-ddbe5854ed4a" data-vars-headline="Forge Nano&#x27;s new Triangle factory will add to North Carolina&#x27;s growing &#x27;battery belt&#x27;" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/10/31/toyotas-north-carolina-battery-plant-is-getting-even-bigger" target="_self">Toyota</a> and <a class="gtmContentClick" data-vars-link-text="Epsilon Advanced Materials" data-vars-click-url="https://www.axios.com/local/raleigh/2023/10/27/north-carolina-lands-epsilon-battery-plant" data-vars-content-id="3506d725-011a-4998-96cb-ddbe5854ed4a" data-vars-headline="Forge Nano&#x27;s new Triangle factory will add to North Carolina&#x27;s growing &#x27;battery belt&#x27;" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/10/27/north-carolina-lands-epsilon-battery-plant" target="_self">Epsilon Advanced Materials</a> picking the state for expansion, state leaders have placed a big bet on batteries becoming a significant source of employment.</li></ul>

The Albatross, a pub that features golf simulators, opens to customers in downtown Cary Friday.

Why it matters: It's the latest in a string of new businesses that have targeted fast-growing downtown Cary, where several new buildings and apartments are under construction, and a new park recently opened.

Driving the news: The Albatross, located at 140 E. Chatham St., opens officially to the public on Friday and booking for their golf simulators goes live today, according to the pub's Instagram.

The Albatross — whose name is a reference to scoring three strokes under par on one hold  — is co-owned by Sean Ryan and Paul Wasmund, a former brewer at nearby Bond Brothers Beer Co.

The bar has two golf simulator bays. Photo: Zachery Eanes/Axios

Details: For $50 an hour, patrons can reserve one of two simulators— made by the company Trackman — in the Albatross.

The pub hopes to host tournaments as well.

The Albatross will have a full-service bar as well as a kitchen serving smashburgers, hot dogs, and, on the weekend, breakfast burritos.

The Albatross, a golf simulator pub, to open in downtown Cary

Downtown Cary's newest bar will let you grab a cocktail while playing a round of golf

The Albatross is the newest bar to open in downtown Cary. Photo: Zachery Eanes/Axios

Golf

<a class="gtmContentClick" data-vars-link-text="The Albatross" data-vars-click-url="https://www.thealbatrossnc.com/" data-vars-content-id="6173cadb-0a51-49f8-850b-ba1347e695a5" data-vars-headline="The Albatross, a golf simulator pub, to open in downtown Cary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.thealbatrossnc.com/" target="_blank">The Albatross</a>, a pub that features golf simulators, opens to customers in downtown Cary Friday.Why it matters: It&#x27;s the latest in a <a class="gtmContentClick" data-vars-link-text="string of" data-vars-click-url="https://www.axios.com/local/raleigh/2023/11/30/downtown-cary-gets-a-vinyl-shop-and-bar-hunky-dory" data-vars-content-id="6173cadb-0a51-49f8-850b-ba1347e695a5" data-vars-headline="The Albatross, a golf simulator pub, to open in downtown Cary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/11/30/downtown-cary-gets-a-vinyl-shop-and-bar-hunky-dory" target="_self">string of</a> <a class="gtmContentClick" data-vars-link-text="new businesses" data-vars-click-url="https://www.axios.com/local/raleigh/2023/11/14/saap-opens-with-a-flavor-packed-menu-cary" data-vars-content-id="6173cadb-0a51-49f8-850b-ba1347e695a5" data-vars-headline="The Albatross, a golf simulator pub, to open in downtown Cary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/11/14/saap-opens-with-a-flavor-packed-menu-cary" target="_self">new businesses</a> that have targeted fast-growing downtown Cary, where several new buildings and apartments are under construction, and a <a class="gtmContentClick" data-vars-link-text="new park" data-vars-click-url="https://downtowncarypark.com/" data-vars-content-id="6173cadb-0a51-49f8-850b-ba1347e695a5" data-vars-headline="The Albatross, a golf simulator pub, to open in downtown Cary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://downtowncarypark.com/" target="_blank">new park</a> recently opened.

Things to Do

Food and Drink

Kane Realty says it's ready to begin construction on the first phase of its large-scale Downtown South development but can't start until the project's financing comes together.

Why it matters: Downtown South, located around ​​1721 S. Saunders St., stands to be one of the most influential real estate projects in the city, adding multiple high-rises and a new entertainment district to the Southern gateway into downtown Raleigh.

The project — and the growth of Dix Park — has also spurred debates around gentrification in the surrounding neighborhoods, which have historically been more diverse and have lower incomes than the city as a whole.

Driving the news: Kane Realty, perhaps the city's most prolific developer from North Hills to downtown, is not immune to the trends in the larger economy. Rising interest rates and growing vacancy rates in office buildings are making new loans harder to get, Bonner Gaylord, chief operating officer for Kane, told Axios.

Gaylord said Kane is still confident in the future of Downtown South, given its location near downtown, Dix Park and Interstate 40, but has to wait for economic conditions to improve.

He said work will continue on Downtown South but didn't provide any timeline for when construction would start.

Details: Gaylord said that Kane has already gotten the necessary permits to build a 7-story apartment building at Downtown South and will get them for a 3,500-person music venue early next year.

Other buildings in the first phase include a 21-story apartment building and a 27-story office tower.

In total, the first phase would add 1,000 apartments and more than 500,000 square feet of offices — if the financing can be secured to build it.

Already, Kane has leased around 31,000 square feet of office space in two of the project's existing warehouse buildings, and has another 14,000 square feet available for retail.

Flashback: Downtown South was initially spearheaded in 2019 by John Kane and N.C. Courage owner Steve Malik, who then envisioned the area as home to a soccer stadium.

The possibility of a sports venue in the development is uncertain — especially after the Triangle missed out on landing a Major League Soccer team.

The big picture: Tightening standards for new construction is impacting the timeline of many large-scale real estate projects throughout the Triangle — especially projects with a large amount of offices or residential high rises.

Kane Realty waiting to start construction on Downtown South until financing materializes

Downtown South is one of the largest pending development projects in the Triangle

A rendering of the first phase of the Downtown South development, courtesy of Kane Realty

Kane Realty says it&#x27;s ready to begin construction on the first phase of its large-scale Downtown South development but can&#x27;t start until the project&#x27;s financing comes together.Why it matters: Downtown South, located around ​​1721 S. Saunders St., stands to be one of the most influential real estate projects in the city, adding multiple high-rises and a new entertainment district to the <a class="gtmContentClick" data-vars-link-text="Southern gateway into downtown Raleigh" data-vars-click-url="https://www.axios.com/local/raleigh/2023/07/07/the-projects-changing-raleighs-southern-gateway" data-vars-content-id="b64888aa-6bae-4bf4-afa9-e2f084188a9a" data-vars-headline="Kane Realty waiting to start construction on Downtown South until financing materializes" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/07/07/the-projects-changing-raleighs-southern-gateway" target="_self">Southern gateway into downtown Raleigh</a>.

Whats Next

Axios What's Next

Data: The Council for Economic and Social Research; Note: Map only shows urban areas with more than 100,000 people; Map: Kavya Beheraj/Axios

While the Triangle has increasingly become more expensive, its cities still remain cheaper than the national average, according to the Council for Community and Economic Research.

Why it matters: The region is a magnet for relocations from other high-cost metro areas, but a rising cost of living has created a larger burden on existing area households.

Driving the news: Each quarter, the Council for Community and Economic Research assembles a cost-of-living index designed to measure "regional differences in the cost of consumer goods and services."

How it works: An index value of 100 represents the national average cost of living across 269 cities.

By the numbers: Raleigh's cost-of-living index value for the third quarter of the year was 96.8.

In comparison, that's well below places like Manhattan (227.8), San Francisco (169.5), Boston (148), or Washington, D.C. (145.3).

Yes, but: Raleigh and Durham residents are paying more than the national average for things like groceries and health care.

The Triangle's cost of living compared to the rest of the U.S.

Long known as a cheaper place to live, the Triangle's cost of living is catching up to the rest of the country

North Carolina

While the Triangle has increasingly become more expensive, its cities still remain cheaper than the national average, according to the Council for Community and Economic Research.Why it matters: The region is a magnet for relocations from other high-cost metro areas, but a rising cost of living has created a larger burden on existing area households.

Zachery Eanes

Featured stories

The Triangle's cost of living compared to the rest of the U.S.

Disney to build "Asteria" neighborhood in the Triangle

The Albatross, a golf simulator pub, to open in downtown Cary

Kane Realty waiting to start construction on Downtown South until financing materializes

Forge Nano's new Triangle factory will add to North Carolina's growing 'battery belt'