However the project was dragged to a standstill due to disagreements between the two communities. In honor of his father, Norman Bibeau Jr. decided to put together a development here in North Carolina using not only the same name for the development but even the same street names. Hence 57 years later University Park came to fruition.
Norman Jr. moved to the Outer Banks in the spring of 2003 and took over as President of the newly formed Elan Vacations. Over a 15 year period he built and ran a total of 8 separate companies. In 2010 he bought out his partners in Elan Vacations and in 2012 he purchased 26 acres in Powells Point which is now the development and community called University Park. Now wearing his developer hat he hopes to honor his father’s dreams by providing market priced homes for a community which is surely not an easy task. Norman recognized the need for housing is just as prevalent today as it was when his father first drew up the plan, regardless of the different location.
While there’s a lot of work to be done, Norman is organizing the development into phases. In 2014 Phase 1 was started as the commercial part of the development that included 2 buildings which housed both Elan Vacations and the corporate offices of University Park. In 2016 Norman started Phase II of the development which consists of 7 town home buildings that include 6 units per building.
In the press: Here’s an article about us in The Outer Banks Voice.
Each town home has a spacious floor plan of 1,450 sq. ft., with three bedrooms and 2.5 bathrooms, a wonderful kitchen with high end appliances and granite countertops as well as a washer and dryer and a private patio. Not only are these units competitively priced, but they also have available community shared bonuses like a pool, clubhouse, basketball court and playground for the children.
We are thrilled that the units are fully rented out and to tenants that fit the market-priced housing niche. The community is new but starting to gain rhythms of living close to the beach, (2.5 miles ) living comfortably far enough away from the tourist hub, and attending community functions and gatherings.
A total of 78 townhomes will ultimately finalize this community when all is said and done. Phase II is completing its last building and approvals are now being proposed to Currituck County for Phase III which will consist of the final 39 Townhomes. All townhomes will follow the same bedroom/bathroom layout with additional amenities being added to the new Phase. While the dream took a while to be fulfilled, Norman is honored to carry out the plans of his father by serving the community.