150 E. Rosemary Street will be a significant step in the creation of the Rosemary Street Innovation District, providing wet-lab space for businesses and research initiatives and creating a significant employment center in downtown Chapel Hill. The development will be within walking distance of the University of North Carolina Chapel Hill campus, one of the nation’s leading research institutions for life sciences, pharmaceutical and medical devices research. The project will also expand the pedestrian public realm of downtown, creating a new park at the corner of Rosemary and Henderson streets and improving the pedestrian connection between Franklin and Rosemary Streets—two major thoroughfares through the town’s core.