Triangle Business Journal Names Chatham Park Developers Business Persons of the Year
Preston Development Company is the driving force behind the inviting Beau Coast West community. Recognized as a benchmark for commercial and residential development across North Carolina, the firm recently celebrated a major honor: co-founders Tim Smith and Julian “Bubba” Rawl were named 2025 Business Persons of the Year by the Triangle Business Journal.
As the primary source for business news, data, and professional networking in the Raleigh/Durham/Chapel Hill region, the Triangle Business Journal’s article highlights the forward-looking projects that continue to define Smith and Rawl’s impact on North Carolina development. The feature underscores their strategic growth and the vision that positions them for continued success.
Tim Smith and Bubba Rawl, both in their 70s, continue to work 12- to 13-hour days after more than 30 years in real estate and development. Yet this isn’t even their first career. Smith started as an engineer and is the son of one of the founders of the grocery store that became the Food Lion grocery chain. Rawl started with a sportswear business he sold to Nike in 1981. Together, they have built a lasting presence in Raleigh, Cary, and the Research Triangle Park and extended their expertise to North Carolina’s coast. Along the way, they have developed vibrant residential neighborhoods and dynamic commercial spaces.
A key element behind their achievements is a people-first approach to planning. Every development is thoughtfully designed with families and long-term sustainability in mind. Their commitment to quality construction and meaningful relationships with residents and partners has led to communities that are both beautiful and sound investments.
Beau Coast West exemplifies this philosophy. The coastal-inspired homes are built with comfort, style and charm in the forefront. Paired with low-maintenance living and inviting amenities, the community makes the most of Beaufort, named the South’s Best Small Town by Southern Living Magazine.
Currently, Preston’s most ambitious undertaking is Chatham Park, one of the largest master-planned developments in North Carolina’s history. Situated near Jordan Lake and the Haw River in historic Pittsboro, the project has been in development for more than 15 years. Envisioned as a comprehensive live-work-play-learn community, Chatham Park will ultimately include more than 22,000 homes. Among its distinctive neighborhoods is Asteria, a Storyliving by Disney community, bringing a unique residential experience to the broader plan.
The perseverance required to bring a project of this scale to life speaks to the vision and determination of Smith and Rawl. Their ability to recognize opportunities where others may not has earned them respect within the industry as well as the distinction of 2025 Business Persons of the Year.
Preston Development has the ability to identify potential and transform it into thriving, welcoming places. The same thoughtful vision that shaped Beau Coast West continues to guide each new project, creating communities where people can live, connect, and flourish. To discover more about what makes Beau Coast West such a special place to call home, contact us today.
