Veridea is the culmination of two years of research. Now the town is officially reviewing the proposal.
Apex Mayor Keith Weatherly made the announcement with a group of designers and Veridea engineers Thursday afternoon.
They are calling it the next generation RTP. It will feature office and commercial space, mixed retail spaces, high tech manufacturing and 8,000 residential units.
The project site is a 1,000 acre plot of land that's already set aside.
The use of green and sustainable technologies will be prevalent. Its boundaries will form a triangle consisting of NC 55, US 1 and the future 540.
"Investors have shown this confidence in Apex to bring frankly a world class, one of a kind development concept to the peak of good living and I'm hopeful that we'll be able to see the success and it will be a great venture for all," Weatherly said.
The planning board is taking a close look at the project. If the town council approves it, the first phase would start next year costing between 50 and 60-million dollars.