NC Children's Hospital Secures 200 Acres in Apex for $90 Million Campus

North Carolina Children's Health completed a nearly $90 million deal to acquire more than 200 acres in Apex, landing a campus site for what will be the only freestanding, independent children's hospital in the Carolinas.

The joint UNC Health and Duke Health venture will build on approximately 230 acres at the intersection of U.S. 1 and NC-540, within Veridea, a 1,000-plus-acre mixed-use community by developer RXR that also includes plans for 8,000 new homes, 3.5 million square feet of retail and dining, 12 million square feet of office and research space and a Wake Technical Community College campus.

When complete, NC Children's will bring approximately 8,000 jobs to Apex and Wake County alongside a 500-bed children's hospital, a children's outpatient care center, 103 children and adolescent behavioral health beds and a research and education enterprise backed by the UNC and Duke schools of medicine. Total costs are estimated at between $2 billion and $3 billion. Health system officials have set a 2027 groundbreaking target and expect construction to span six years.

The land did not change hands between private parties. The North Carolina Retirement System is the majority owner of RXR Len Apex Owner LLC, the partnership that held the parcel, with RXR Realty, a New York investment firm, as the minority partner. State Treasurer Brad Briner framed the transaction as a convergence of public and private benefit at the time of the site announcement. "This sale of land held by our pension fund allows us to make a good return on investment, for NC Children's to secure a home in a growing and thriving community, and most importantly, our citizens and taxpayers to benefit from both," Briner said. "This is truly a win-win-win."

The U.S. 1 and NC-540 interchange was a deliberate choice, giving families from across central and western North Carolina a direct highway route to pediatric services that have historically been divided between academic centers in Chapel Hill and Durham. For roughly a decade, both UNC Health and Duke Health pursued a standalone children's institution rather than building out children's units within their existing campuses.

Apex was selected as the site in July 2025, and the land closed April 2, converting that commitment into a nearly $90 million transaction. Design contracts, fundraising campaigns and state approvals remain in progress, along with infrastructure coordination with Apex and Wake County on roads, utilities, workforce development and affordable housing. With six years of construction ahead after a 2027 groundbreaking, a potential opening date falls well into the 2030s.