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$50 million development on the way in Cary

$50 million development on the way in Cary

October 15, 2024 | Mark Lawson | Awards & Accolades

$50 million development on the way in Cary
October 15, 2024
Land for luxury homes near Cary, Apex sells for whopping $36 million
October 11, 2024
Engineering firm leases office space at Cary’s Fenton to support hiring
October 3, 2024
Greater Raleigh Awarded Eight Future NCAA Championship Events
October 2, 2024

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307 N. Academy St.
Cary, NC 27513

Mark Lawson
mlawson@carychamber.com
919-319-4281

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caryeconomicdevelopment

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caryeconomicdevelopment

Oct 15

In September, the North Carolina Department of Health and Human Services issued Waltonwood Wake LLC a certificate of need to move forward with its proposal to develop a 100-bed senior living community in Cary at an expected cost of about $51.9 million.

The location is on Geyer Court near the corner of NW Cary Parkway and Evans Road. Construction of the facility is scheduled to be completed by October 2027 and the facility is supposed to begin offering services in January 2028.

Under its Waltonwood brand, Singh Development Company operates facilities that provide services in independent living, assisted living and memory care. The company has two existing Waltonwood facilities in Wake County, including sites on Cary Parkway and Horton Street, with another facility on Lead Mine Road under development.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 12

Enjoying good friends, great weather and championship golf at the SAS Championship! ⛳️🏌️‍♂️✨

#carync #caryeconomicdevelopment #saschampionship

Enjoying good friends, great weather and championship golf at the SAS Championship! ⛳️🏌️‍♂️✨

#carync #caryeconomicdevelopment #saschampionship ...

caryeconomicdevelopment

Oct 11

National homebuilder Tri Pointe Homes is moving into the luxury home market in the Triangle. Tri Pointe Homes acquired 104 acres of land along Castleberry Road near Castlebury Lake for $36.4 million, according to Wake County deed records. The plan is to build 170 single-family luxury homes.

According to Amanda Hoyle, director of land acquisition for Tri Pointe, “We’re trying to build our presence in the market. We’ve had a lot of success with our townhome product, and we are very excited to be moving into the luxury housing market as well and expanding our customer base in the Triangle market.”

@trianglebizjrnl
#carync #caryeconomicdevelopment

National homebuilder Tri Pointe Homes is moving into the luxury home market in the Triangle. Tri Pointe Homes acquired 104 acres of land along Castleberry Road near Castlebury Lake for $36.4 million, according to Wake County deed records. The plan is to build 170 single-family luxury homes.

According to Amanda Hoyle, director of land acquisition for Tri Pointe, “We’re trying to build our presence in the market. We’ve had a lot of success with our townhome product, and we are very excited to be moving into the luxury housing market as well and expanding our customer base in the Triangle market.”

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 10

According to a recent announcement, Cary is set to host six NCAA national championship events across three sports from 2026 to 2028, making eight future events total in the greater Raleigh area. This includes two Women’s College Cups, two Men’s College Cups and two Division II Baseball World Series for Cary.

Cary has a strong history in hosting NCAA events, having welcomed 38 championships since 2003 and aiming to reach a total of 41 with the upcoming events this academic year.

@visitraleigh
#carync #caryeconomicdevelopment

According to a recent announcement, Cary is set to host six NCAA national championship events across three sports from 2026 to 2028, making eight future events total in the greater Raleigh area. This includes two Women’s College Cups, two Men’s College Cups and two Division II Baseball World Series for Cary.

Cary has a strong history in hosting NCAA events, having welcomed 38 championships since 2003 and aiming to reach a total of 41 with the upcoming events this academic year.

@visitraleigh
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 8

Burns & McDonnell, a global engineering, construction and architecture firm, is moving its local office to a 17,000-square-foot space at Cary’s Fenton development this month. The larger office will accommodate the 50 new employees the firm plans to hire in the coming years. In the next three years, Ganthner said Burns & McDonnell plans to expand to 130 employees in the Triangle region, including new architects, engineers and construction professionals.

According to Burns & McDonnell’s Mid-Atlantic vice president and general manager Jeffrey Ganthner on the Fenton space,

“We were literally looking at trying to make sure that our team really had a great place to work throughout the day, places to eat and amenities in the area that were going to be developing over the next 10 to 20 years.”

@trianglebizjrnl

#carync #caryeconomicdevelopment

Burns & McDonnell, a global engineering, construction and architecture firm, is moving its local office to a 17,000-square-foot space at Cary’s Fenton development this month. The larger office will accommodate the 50 new employees the firm plans to hire in the coming years. In the next three years, Ganthner said Burns & McDonnell plans to expand to 130 employees in the Triangle region, including new architects, engineers and construction professionals.

According to Burns & McDonnell’s Mid-Atlantic vice president and general manager Jeffrey Ganthner on the Fenton space,

“We were literally looking at trying to make sure that our team really had a great place to work throughout the day, places to eat and amenities in the area that were going to be developing over the next 10 to 20 years.”

@trianglebizjrnl

#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 1

The Umstead Hotel and Spa in Cary has been recognized as one of the South’s top hotels, ranking number 12 in Condé Nast’s Readers’ Choice Awards for the top 25 in the region. The Umstead has received multiple accolades from Condé Nast over the years and was recently acknowledged by Forbes Travel Guide and U.S. News & World Report.

The Umstead’s general manager David Mars said in a statement that the award is, “especially heartwarming to know that our guests consider The Umstead their favorite home away from home.”

@trianglebizjrnl

The Umstead Hotel and Spa in Cary has been recognized as one of the South’s top hotels, ranking number 12 in Condé Nast’s Readers’ Choice Awards for the top 25 in the region. The Umstead has received multiple accolades from Condé Nast over the years and was recently acknowledged by Forbes Travel Guide and U.S. News & World Report.

The Umstead’s general manager David Mars said in a statement that the award is, “especially heartwarming to know that our guests consider The Umstead their favorite home away from home.”

@trianglebizjrnl ...

caryeconomicdevelopment

Oct 1

Marc Lasry, the former co-owner of the NBA’s Milwaukee Bucks, is reportedly close to acquiring a 60% stake in Cary’s North Carolina Courage women’s soccer team, valuing the franchise at $108 million.

The Courage, which plays at Wakemed Soccer Park, is currently majority-owned by Steve Malik, a tech entrepreneur who has been working to enhance the team’s competitiveness. Under Malik’s leadership, the Courage has seen significant investment, with a recent fundraising round raising nearly $15.7 million aimed at improving the team’s roster and facilities. This effort has attracted investors including Capitol Broadcasting and celebrities like Naomi Osaka.

The potential deal with Lasry marks a considerable increase in the team’s valuation from $52 million last year, reflecting a growing interest and investment in women’s soccer. This potential partnership not only boosts the Courage but also strengthens Cary’s growing reputation as a hub for sports and economic development!

@trianglebizjrnl

Marc Lasry, the former co-owner of the NBA’s Milwaukee Bucks, is reportedly close to acquiring a 60% stake in Cary’s North Carolina Courage women’s soccer team, valuing the franchise at $108 million.

The Courage, which plays at Wakemed Soccer Park, is currently majority-owned by Steve Malik, a tech entrepreneur who has been working to enhance the team’s competitiveness. Under Malik’s leadership, the Courage has seen significant investment, with a recent fundraising round raising nearly $15.7 million aimed at improving the team’s roster and facilities. This effort has attracted investors including Capitol Broadcasting and celebrities like Naomi Osaka.

The potential deal with Lasry marks a considerable increase in the team’s valuation from $52 million last year, reflecting a growing interest and investment in women’s soccer. This potential partnership not only boosts the Courage but also strengthens Cary’s growing reputation as a hub for sports and economic development!

@trianglebizjrnl ...

caryeconomicdevelopment

Sep 26

Amtrak is launching a new temporary route, The Floridian, connecting Raleigh to the Midwest starting November 10. This service will provide direct rail access between Chicago and Miami, with stops in Raleigh and Cary.

The Floridian combines existing routes due to the upcoming East River Tunnel Rehabilitation Project in New York and is expected to operate for about a year, potentially extending based on ridership success. North Carolina is seeing a surge in rail interest, with ridership projected to rise by 50% compared to 2019.

The Floridian will offer a travel time of 47 hours, with stops in cities like Cleveland, Jacksonville, and Orlando, along with premium First Class options for a comfortable journey.

@trianglebizjrnl

Amtrak is launching a new temporary route, The Floridian, connecting Raleigh to the Midwest starting November 10. This service will provide direct rail access between Chicago and Miami, with stops in Raleigh and Cary.

The Floridian combines existing routes due to the upcoming East River Tunnel Rehabilitation Project in New York and is expected to operate for about a year, potentially extending based on ridership success. North Carolina is seeing a surge in rail interest, with ridership projected to rise by 50% compared to 2019.

The Floridian will offer a travel time of 47 hours, with stops in cities like Cleveland, Jacksonville, and Orlando, along with premium First Class options for a comfortable journey.

@trianglebizjrnl ...

caryeconomicdevelopment

Sep 24

International air travel is on the rise at Raleigh-Durham International Airport (RDU), as Air Canada plans to double the frequency of its nonstop flights to Montreal starting next May from once daily to twice daily. Other recently added destinations, like Mexico City, Frankfurt and Panama City, have enhanced RDU’s offerings. In fact, international travel at @flyrdu increased 88% across the board between June of 2022 and June of this year.

In just the first eight months of this year, 189,000 passengers boarded internationally-bound planes at RDU—a 22% increase from last year. Overall, the airport welcomed almost 5.1 million passengers this year, marking a 7.5% growth.

Get the full story from @trianglebizjrnl

#caryeconomicdevelopment #carync

International air travel is on the rise at Raleigh-Durham International Airport (RDU), as Air Canada plans to double the frequency of its nonstop flights to Montreal starting next May from once daily to twice daily. Other recently added destinations, like Mexico City, Frankfurt and Panama City, have enhanced RDU’s offerings. In fact, international travel at @flyrdu increased 88% across the board between June of 2022 and June of this year.

In just the first eight months of this year, 189,000 passengers boarded internationally-bound planes at RDU—a 22% increase from last year. Overall, the airport welcomed almost 5.1 million passengers this year, marking a 7.5% growth.

Get the full story from @trianglebizjrnl

#caryeconomicdevelopment #carync ...

caryeconomicdevelopment

Sep 23

Exciting developments are underway in northwest Cary! Tri Pointe Homes, through Kennedy Lewis Investment Management, has acquired land for a new 137-townhome community near the site of the future Apple campus.

With a purchase price of $9.5 million for 32 acres along Louis Stephens Drive, this project is set to enhance the area, which has already attracted a lot of residential growth. While construction timelines have shifted, these three-bedroom townhomes are expected to be priced starting around the $400,000s, offering new housing options near the McCrimmon Corners shopping mall.

Read the full story from @trianglebizjrnl

#caryeconomicdevelopment #carync

Exciting developments are underway in northwest Cary! Tri Pointe Homes, through Kennedy Lewis Investment Management, has acquired land for a new 137-townhome community near the site of the future Apple campus.

With a purchase price of $9.5 million for 32 acres along Louis Stephens Drive, this project is set to enhance the area, which has already attracted a lot of residential growth. While construction timelines have shifted, these three-bedroom townhomes are expected to be priced starting around the $400,000s, offering new housing options near the McCrimmon Corners shopping mall.

Read the full story from @trianglebizjrnl

#caryeconomicdevelopment #carync ...

caryeconomicdevelopment

Sep 20

The SAS Institute headquarters in Cary recently held an AI SMB Summit, offering small and medium-sized business owners valuable insights into artificial intelligence.

The event featured over 100 executives and included keynotes and panel discussions focused on the latest AI advancements and practical applications for SMBs. Attendees also received actionable strategies for leveraging AI to drive business growth.

Full story from @wral TechWire

The SAS Institute headquarters in Cary recently held an AI SMB Summit, offering small and medium-sized business owners valuable insights into artificial intelligence.

The event featured over 100 executives and included keynotes and panel discussions focused on the latest AI advancements and practical applications for SMBs. Attendees also received actionable strategies for leveraging AI to drive business growth.

Full story from @wral TechWire ...

caryeconomicdevelopment

Sep 19

Cary is highly attractive for those in information technology and is home to worldwide leaders in the sector. IT is a key industry here rapidly growing and continuing to entice high-caliber talent.

Our region is well-known as one of the nation’s IT powerhouses with companies on the cutting edge in fields including software development, open source, healthcare IT, data analytics, cloud computing, mobile applications, digital systems integration, cyber security and others.

Cary is highly attractive for those in information technology and is home to worldwide leaders in the sector. IT is a key industry here rapidly growing and continuing to entice high-caliber talent.

Our region is well-known as one of the nation’s IT powerhouses with companies on the cutting edge in fields including software development, open source, healthcare IT, data analytics, cloud computing, mobile applications, digital systems integration, cyber security and others. ...

caryeconomicdevelopment

Sep 17

Looking to start, expand or relocate your business? Cary is the place for you! #Cary is a thriving community of more than 180,000 residents in the heart of the Research Triangle region of North Carolina, which includes Raleigh, Durham and Chapel Hill. With a population of more than 2 million, the Triangle consistently ranks among the top regions in the country to live, work, start a business and find a home. Cary has taken advantage of its unique location to create a nationally recognized community of excellence. #caryeconomicdevelopment

Looking to start, expand or relocate your business? Cary is the place for you! #Cary is a thriving community of more than 180,000 residents in the heart of the Research Triangle region of North Carolina, which includes Raleigh, Durham and Chapel Hill. With a population of more than 2 million, the Triangle consistently ranks among the top regions in the country to live, work, start a business and find a home. Cary has taken advantage of its unique location to create a nationally recognized community of excellence. #caryeconomicdevelopment ...

caryeconomicdevelopment

Sep 13

It’s clear that Cary is a great place for business! Cary is a vibrant community with a low tax structure for companies and their employees. Cary’s pro-business government is dedicated to helping our business community grow and prosper. The town continuously enhances its infrastructure, while keeping construction, energy rates and the cost of living below the national average.

Choosing Cary for your business is a smart decision. A highly educated workforce, a variety of properties and real estate, low state and local taxes, and a competitive cost of doing business are part of what makes Cary an outstanding choice.

It’s clear that Cary is a great place for business! Cary is a vibrant community with a low tax structure for companies and their employees. Cary’s pro-business government is dedicated to helping our business community grow and prosper. The town continuously enhances its infrastructure, while keeping construction, energy rates and the cost of living below the national average.

Choosing Cary for your business is a smart decision. A highly educated workforce, a variety of properties and real estate, low state and local taxes, and a competitive cost of doing business are part of what makes Cary an outstanding choice. ...

caryeconomicdevelopment

Sep 10

According to WalletHub’s latest report, Cary ranks 3rd overall in the top real estate markets in 2024! The report evaluates metrics including home values, market days and building permit activity.

Cary remains in the cheapest one-third of 300 cities included in the study for housing affordability, and when combining affordability with the broader economic environment, Cary places No. 5 in the country. Homeowners can also expect their value to increase by 1.3% annually, surpassing Zillow’s latest national forecast predicting 0.9% growth between July 2024 and July 2025.

With a robust job market and a low unemployment rate of 3.8%, Cary also benefits from some of the lowest mortgage delinquency and foreclosure rates nationwide. July data from the North Carolina Department of Commerce shows that the Raleigh metropolitan statistical area, which includes Wake County, has 2.8% more jobs than it did a year ago.

According to WalletHub’s latest report, Cary ranks 3rd overall in the top real estate markets in 2024! The report evaluates metrics including home values, market days and building permit activity.

Cary remains in the cheapest one-third of 300 cities included in the study for housing affordability, and when combining affordability with the broader economic environment, Cary places No. 5 in the country. Homeowners can also expect their value to increase by 1.3% annually, surpassing Zillow’s latest national forecast predicting 0.9% growth between July 2024 and July 2025.

With a robust job market and a low unemployment rate of 3.8%, Cary also benefits from some of the lowest mortgage delinquency and foreclosure rates nationwide. July data from the North Carolina Department of Commerce shows that the Raleigh metropolitan statistical area, which includes Wake County, has 2.8% more jobs than it did a year ago. ...

caryeconomicdevelopment

Sep 10

JPMorgan Chase is advancing its expansion plans with progress on a new branch in Cary. The company recently received approval from the Office of the Comptroller of the Currency (OCC) for a new location at 1020 N. Harrison Ave.

The branch, situated in the Harrison Point shopping complex and designed by VergesRome Architects, will feature a drive-up ATM and spans just under 3,500 square feet. Final city approval is pending as the branch moves forward.

The bank currently operates 16 branches in the Triangle and plans to exceed 20 by the end of next year.

Get the full story from @trianglebizjrnl

JPMorgan Chase is advancing its expansion plans with progress on a new branch in Cary. The company recently received approval from the Office of the Comptroller of the Currency (OCC) for a new location at 1020 N. Harrison Ave.

The branch, situated in the Harrison Point shopping complex and designed by VergesRome Architects, will feature a drive-up ATM and spans just under 3,500 square feet. Final city approval is pending as the branch moves forward.

The bank currently operates 16 branches in the Triangle and plans to exceed 20 by the end of next year.

Get the full story from @trianglebizjrnl ...

caryeconomicdevelopment

Sep 5

One of the Triangle’s top barbecue joints is moving operations to downtown Cary. Lawrence Barbecue is expanding out of its home at Boxyard RTP and will move into a space of its own in downtown Cary, one of the region’s hottest development spots, sometime next summer.

According to owner Jake Wood, “We want this to be a part of the community here, a place where families can come and have great barbecue and some beverages.”

The new Lawrence space is around 4,900 square feet, and Wood hopes to seat around 250 people in the dining room and front porch patio.

“This is a really neat place to call home and a really neat place to grow into...This can be a bigger, better version of everything we do,” says Wood.

Check out the full story from @newsobserver

One of the Triangle’s top barbecue joints is moving operations to downtown Cary. Lawrence Barbecue is expanding out of its home at Boxyard RTP and will move into a space of its own in downtown Cary, one of the region’s hottest development spots, sometime next summer.

According to owner Jake Wood, “We want this to be a part of the community here, a place where families can come and have great barbecue and some beverages.”

The new Lawrence space is around 4,900 square feet, and Wood hopes to seat around 250 people in the dining room and front porch patio.

“This is a really neat place to call home and a really neat place to grow into...This can be a bigger, better version of everything we do,” says Wood.

Check out the full story from @newsobserver ...

caryeconomicdevelopment

Sep 3

In 2023, North Carolina achieved a record tourism milestone! North Carolina has set a new benchmark in visitor spending, reaching $35.6 billion in 2023—a 6.9% increase over the previous year.

Additionally, direct tourism employment rose by 4.8%, totaling 227,000 jobs statewide. Governor Roy Cooper and N.C. Commerce Secretary Machelle Baker Sanders have both highlighted how this growth underscores the state’s appeal and the positive impact on local businesses and communities.

Key Takeaways:
- $35.6 billion in visitor spending, with growth seen across nearly all 100 counties.
- 4.8% increase in direct tourism jobs.
- $4.5 billion in tax revenues, translating to an average savings of $518 per household in state and local taxes.
- 43 million visitors welcomed to North Carolina.

Take a look at the full press release from the North Carolina Department of Commerce:
https://www.commerce.nc.gov/news/press-releases/2024/08/13/north-carolina-breaks-tourism-spending-record-2023

#Tourism #EconomicImpact #NorthCarolina #VisitorSpending #JobGrowth #carync #economicdevelopment

In 2023, North Carolina achieved a record tourism milestone! North Carolina has set a new benchmark in visitor spending, reaching $35.6 billion in 2023—a 6.9% increase over the previous year.

Additionally, direct tourism employment rose by 4.8%, totaling 227,000 jobs statewide. Governor Roy Cooper and N.C. Commerce Secretary Machelle Baker Sanders have both highlighted how this growth underscores the state’s appeal and the positive impact on local businesses and communities.

Key Takeaways:
- $35.6 billion in visitor spending, with growth seen across nearly all 100 counties.
- 4.8% increase in direct tourism jobs.
- $4.5 billion in tax revenues, translating to an average savings of $518 per household in state and local taxes.
- 43 million visitors welcomed to North Carolina.

Take a look at the full press release from the North Carolina Department of Commerce:
https://www.commerce.nc.gov/news/press-releases/2024/08/13/north-carolina-breaks-tourism-spending-record-2023

#Tourism #EconomicImpact #NorthCarolina #VisitorSpending #JobGrowth #carync #economicdevelopment ...

caryeconomicdevelopment

Aug 30

The appeal of downtown Cary’s walkable amenities influenced homebuilder Stanley Martin Homes’ decision to build 56 townhome-style condos, named Soca 56, at the corner of Kildaire and Byrum streets in downtown Cary. Construction is expected to start by the end of 2024 and sales launching in early 2025.

“Stanley Martin has some very progressive and creative architectural products, like these townhome-style condos that do very well in urban infill environments where there’s lifestyle amenities proximate and walkable to the site,” said Hampton Pitts, division president for Stanley Martin. “With all that downtown Cary offers, it’s really easy for buyers to understand what their lifestyle is going to be if they live here.”

Visit @trianglebizjrnl for the full story

The appeal of downtown Cary’s walkable amenities influenced homebuilder Stanley Martin Homes’ decision to build 56 townhome-style condos, named Soca 56, at the corner of Kildaire and Byrum streets in downtown Cary. Construction is expected to start by the end of 2024 and sales launching in early 2025.

“Stanley Martin has some very progressive and creative architectural products, like these townhome-style condos that do very well in urban infill environments where there’s lifestyle amenities proximate and walkable to the site,” said Hampton Pitts, division president for Stanley Martin. “With all that downtown Cary offers, it’s really easy for buyers to understand what their lifestyle is going to be if they live here.”

Visit @trianglebizjrnl for the full story ...

caryeconomicdevelopment

Aug 28

Cary’s MercuryGate International, Inc. has been named one of the 100 Great Supply Chain Partners for 2024 by SupplyChainBrain. This annual list highlights companies recognized by their customers for exceptional supply chain solutions and services. MercuryGate, a leading provider of transportation and logistics management solutions, expressed pride in this acknowledgment and emphasized its commitment to delivering value through its Smart Transportation suite.

Cary’s MercuryGate International, Inc. has been named one of the 100 Great Supply Chain Partners for 2024 by SupplyChainBrain. This annual list highlights companies recognized by their customers for exceptional supply chain solutions and services. MercuryGate, a leading provider of transportation and logistics management solutions, expressed pride in this acknowledgment and emphasized its commitment to delivering value through its Smart Transportation suite. ...

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