Potential mixed-used development to come to Cary
Hines, a development firm based in Houston and the firm that created the Fenton development, is looking to rezone a part of Waverly Place in Cary so as to make it a mixed-use development.
The plan would include close to 750 apartments and 30,000 square feet of commercial space. The development would be seven stories tall. The project would be on Kildaire Farm Road and focus on 6.5 acres of the property. It would include the CMX CinéBistro and two parking lots.
Word of such proposed projects can be spread throughout a community with flyer printing.
Waverly Place has Whole Foods Markets as an anchor, along with a lawn for concerts and other events. It opened in 1988. Hines purchased the property, which spans 22.5 acres, from Northwood Retail in 2022 for $88m. Paul Zarian, managing director of Hines, said the company purchased the property partly because of its success in developing Fenton in Cary, a mixed-use development of 92 acres featuring office space, retail establishments, apartments, restaurants, and a hotel so this made it compelling to continue to invest in Cary.
Hines is also continuing to grow in the area. It is the developer of the American Tobacco campus in Durham. This is a mixed-use project covering 782,000 square feet and includes retail space, two office buildings, and a residential high rise of 14 stories with 350 units.
The plan would include close to 750 apartments and 30,000 square feet of commercial space. The development would be seven stories tall. The project would be on Kildaire Farm Road and focus on 6.5 acres of the property. It would include the CMX CinéBistro and two parking lots.
Word of such proposed projects can be spread throughout a community with flyer printing.
Waverly Place has Whole Foods Markets as an anchor, along with a lawn for concerts and other events. It opened in 1988. Hines purchased the property, which spans 22.5 acres, from Northwood Retail in 2022 for $88m. Paul Zarian, managing director of Hines, said the company purchased the property partly because of its success in developing Fenton in Cary, a mixed-use development of 92 acres featuring office space, retail establishments, apartments, restaurants, and a hotel so this made it compelling to continue to invest in Cary.
Hines is also continuing to grow in the area. It is the developer of the American Tobacco campus in Durham. This is a mixed-use project covering 782,000 square feet and includes retail space, two office buildings, and a residential high rise of 14 stories with 350 units.