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$500M Cary development takes key step forward

$500M Cary development takes key step forward

February 24, 2025 | Mark Lawson | Awards & Accolades

$500M Cary development takes key step forward
February 24, 2025
Best Place to Live
February 3, 2025
Best Job Market
February 3, 2025
Best City to Move to in North Carolina
February 3, 2025

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307 N. Academy St.
Cary, NC 27513

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

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caryeconomicdevelopment

Dec 2

Cary is one of Southern Living’s 18 Cutest Christmas Towns In The South!

Southern Living writes, “A testament to the city’s enthusiasm for the holidays, each year, Cary doubles its number of oversize ornaments—these decorations champion its diverse population, with nods to Christmas, Hanukkah, Kwanzaa, and secular celebrations.”

They also describe some of the fun and festive events Cary hosts to celebrate the season, “People gather for the lighting of a 40-foot tree, a gingerbread house competition, and a parade (now in its 43rd year). Enjoy a synchronized light show at the iconic downtown fountain, and in January, join Cary’s Latino community at the Three Kings’ Day Parade.”

@southernlivingmag
#carync #caryeconomicdevelopment

Cary is one of Southern Living’s 18 Cutest Christmas Towns In The South!

Southern Living writes, “A testament to the city’s enthusiasm for the holidays, each year, Cary doubles its number of oversize ornaments—these decorations champion its diverse population, with nods to Christmas, Hanukkah, Kwanzaa, and secular celebrations.”

They also describe some of the fun and festive events Cary hosts to celebrate the season, “People gather for the lighting of a 40-foot tree, a gingerbread house competition, and a parade (now in its 43rd year). Enjoy a synchronized light show at the iconic downtown fountain, and in January, join Cary’s Latino community at the Three Kings’ Day Parade.”

@southernlivingmag
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 28

Happy Thanksgiving from us at Cary Economic Development!

Happy Thanksgiving from us at Cary Economic Development! ...

caryeconomicdevelopment

Nov 27

Sunhouse Development Co., a development firm based in Cary, is developing a new retail center in Apex/west Cary. The 30,000-square-foot center will consist of three buildings, offering retail space for various tenants. Construction is expected to be complete by October 2025.

The development was initially delayed due to the pandemic but is now moving forward following Duke Health’s plans to expand nearby. The growing residential and commercial development in the area, particularly west of Highway 540, is driving the need for more local retail spaces.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Sunhouse Development Co., a development firm based in Cary, is developing a new retail center in Apex/west Cary. The 30,000-square-foot center will consist of three buildings, offering retail space for various tenants. Construction is expected to be complete by October 2025.

The development was initially delayed due to the pandemic but is now moving forward following Duke Health’s plans to expand nearby. The growing residential and commercial development in the area, particularly west of Highway 540, is driving the need for more local retail spaces.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 22

@dukehealth is expanding its medical campus in west Cary, with plans for further construction on an 80-acre site. Duke began acquiring land for this campus in 2016, and opened its first facilities there in 2022, offering primary care, pediatric, urgent care and specialty services. Due to high demand, Duke is expanding the campus to keep pace with Cary’s rapid population growth, which is nearing 200,000 residents.

They have received approval for a 40-bed hospital, with plans to invest $235 million in its construction. The hospital will feature operating rooms, a CT scanner, a linear accelerator for cancer treatment, and other services.

The next phase of the expansion, which involves building 111,000 square feet for the hospital, is expected to be completed by 2027. A third phase will further enhance the hospital and expand services, including cancer care.

Duke Health also envisions a mixed-use, walkable campus that integrates healthcare with retail and hospitality services, creating a community hub. This long-term project aims to transform healthcare delivery and make the campus a model for future medical facilities.

@trianglebizjrnl
#carync #caryeconomicdevelopment

@dukehealth is expanding its medical campus in west Cary, with plans for further construction on an 80-acre site. Duke began acquiring land for this campus in 2016, and opened its first facilities there in 2022, offering primary care, pediatric, urgent care and specialty services. Due to high demand, Duke is expanding the campus to keep pace with Cary’s rapid population growth, which is nearing 200,000 residents.

They have received approval for a 40-bed hospital, with plans to invest $235 million in its construction. The hospital will feature operating rooms, a CT scanner, a linear accelerator for cancer treatment, and other services.

The next phase of the expansion, which involves building 111,000 square feet for the hospital, is expected to be completed by 2027. A third phase will further enhance the hospital and expand services, including cancer care.

Duke Health also envisions a mixed-use, walkable campus that integrates healthcare with retail and hospitality services, creating a community hub. This long-term project aims to transform healthcare delivery and make the campus a model for future medical facilities.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 19

Highwoods Properties, a commercial real estate firm, is seeking to rezone an office building in Cary to allow for residential and commercial uses. The 30-year-old, 3-story office building along Weston Parkway is currently zoned for office and industrial use, but Highwoods proposes converting the site into a multifamily or townhome development.

The development aims to replace the office building with residential options, either multifamily units or townhomes, and improve walkability in the area with new sidewalks. The project would also serve as a transition between single-family homes to the south and office buildings along Weston Parkway.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Highwoods Properties, a commercial real estate firm, is seeking to rezone an office building in Cary to allow for residential and commercial uses. The 30-year-old, 3-story office building along Weston Parkway is currently zoned for office and industrial use, but Highwoods proposes converting the site into a multifamily or townhome development.

The development aims to replace the office building with residential options, either multifamily units or townhomes, and improve walkability in the area with new sidewalks. The project would also serve as a transition between single-family homes to the south and office buildings along Weston Parkway.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 18

Some of the leading developers in downtown Cary are transforming the property at 107 E. Chatham St. into a new restaurant. The project, approved on November 8, will repurpose the former Gurkan’s Auto Repairs building, expanding it from 1,258 to 5,000 square feet.

The site was purchased in 2021 for $900,000 and is part of the ongoing revitalization of downtown Cary.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Some of the leading developers in downtown Cary are transforming the property at 107 E. Chatham St. into a new restaurant. The project, approved on November 8, will repurpose the former Gurkan’s Auto Repairs building, expanding it from 1,258 to 5,000 square feet.

The site was purchased in 2021 for $900,000 and is part of the ongoing revitalization of downtown Cary.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 15

Congratulations to Elaine Buxton, President and CEO of the Cary-based company Confero, Inc., for Confero being named America’s top small business by the U.S. Chamber of Commerce. The award recognizes the impact of entrepreneurship within local communities.

Confero, a mystery shopping and customer experience research platform, won the top spot among 14,000 other businesses that applied. The Chamber said in a release that Confero’s decades-long growth, coupled with its innovation and focus on helping clients succeed, “propelled Confero to the Top Business title.”

@incmagazine
#carync #caryeconomicdevelopment

Congratulations to Elaine Buxton, President and CEO of the Cary-based company Confero, Inc., for Confero being named America’s top small business by the U.S. Chamber of Commerce. The award recognizes the impact of entrepreneurship within local communities.

Confero, a mystery shopping and customer experience research platform, won the top spot among 14,000 other businesses that applied. The Chamber said in a release that Confero’s decades-long growth, coupled with its innovation and focus on helping clients succeed, “propelled Confero to the Top Business title.”

@incmagazine
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 13

Cary’s SAS is acquiring Hazy, a UK-based synthetic data technology company, as part of its ongoing investment in AI. The acquisition includes 13 employees from Hazy and will integrate its synthetic data technology into SAS’s Data Maker solution, which launched in May 2024.

Gartner predicts that by 2026, 75% of businesses will use generative AI to create synthetic customer data. SAS has been significantly investing in AI, with a total of $2 billion committed to AI initiatives over the past five years.

In a statement, CEO Jim Goodnight said the deal, “represents a pivotal step in our commitment to innovation in the next generation of data management and AI.”

@trianglebizjrnl
#carync #caryeconomicdevelopment

Cary’s SAS is acquiring Hazy, a UK-based synthetic data technology company, as part of its ongoing investment in AI. The acquisition includes 13 employees from Hazy and will integrate its synthetic data technology into SAS’s Data Maker solution, which launched in May 2024.

Gartner predicts that by 2026, 75% of businesses will use generative AI to create synthetic customer data. SAS has been significantly investing in AI, with a total of $2 billion committed to AI initiatives over the past five years.

In a statement, CEO Jim Goodnight said the deal, “represents a pivotal step in our commitment to innovation in the next generation of data management and AI.”

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 12

Fathom Holdings, a Cary-based real estate company, has acquired My Home Group, an Arizona-based brokerage, adding 2,200 agents to its network.

This deal boosts Fathom’s agent base to 14,500 across 40 states. Founded in 2005, My Home Group ranks 27th nationally by transaction volume, completing around 12,000 transactions annually. Fathom, which offers back-office services to agents under a flat-fee model, has been publicly traded since 2020.

@businessnorthcarolina
#carync #caryeconomicdevelopment

Fathom Holdings, a Cary-based real estate company, has acquired My Home Group, an Arizona-based brokerage, adding 2,200 agents to its network.

This deal boosts Fathom’s agent base to 14,500 across 40 states. Founded in 2005, My Home Group ranks 27th nationally by transaction volume, completing around 12,000 transactions annually. Fathom, which offers back-office services to agents under a flat-fee model, has been publicly traded since 2020.

@businessnorthcarolina
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 11

Cary and the Triangle are proud to offer a supportive community for veterans to build businesses and pursue new opportunities. Happy Veterans Day, and thank you for your service and contributions to our community!

#carync #caryeconomicdevelopment #veteransday

Cary and the Triangle are proud to offer a supportive community for veterans to build businesses and pursue new opportunities. Happy Veterans Day, and thank you for your service and contributions to our community!

#carync #caryeconomicdevelopment #veteransday ...

caryeconomicdevelopment

Nov 7

BrodyCo, a real estate firm based in Greenville, has made a $9.2 million investment in Cary, purchasing the 54,800-square-foot Ace Plaza, formerly Hemlock Plaza Shopping Center. The property is fully leased, with tenants including Westlake Ace Hardware, Burrito Shak, Goldfish Swim School and Zoom Room Dog Training.

BrodyCo, which has primarily focused on properties in Greenville and Wilmington, has been expanding its presence in the Triangle area due to the region’s strong growth.

@trianglebizjrnl
#carync #caryeconomicdevelopment

BrodyCo, a real estate firm based in Greenville, has made a $9.2 million investment in Cary, purchasing the 54,800-square-foot Ace Plaza, formerly Hemlock Plaza Shopping Center. The property is fully leased, with tenants including Westlake Ace Hardware, Burrito Shak, Goldfish Swim School and Zoom Room Dog Training.

BrodyCo, which has primarily focused on properties in Greenville and Wilmington, has been expanding its presence in the Triangle area due to the region’s strong growth.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 6

Lennar Homes and PulteGroup, are expanding their presence in the Triangle area, driven by strong housing demand. Lennar leased 33,509 square feet at Perimeter Park in Morrisville, while PulteGroup signed a lease for 29,992 square feet at Regency Forest in Cary.

These leases reflect a trend in office space leasing, where significant leases now range from 30,000 to 60,000 square feet, a shift from the larger leases of 100,000 to 150,000 square feet in the past. Lennar is the most active homebuilder in the Triangle, having completed 2,465 homes in 2023, while PulteGroup ranked second with 1,190 homes. Both companies have ongoing projects in the region.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Lennar Homes and PulteGroup, are expanding their presence in the Triangle area, driven by strong housing demand. Lennar leased 33,509 square feet at Perimeter Park in Morrisville, while PulteGroup signed a lease for 29,992 square feet at Regency Forest in Cary.

These leases reflect a trend in office space leasing, where significant leases now range from 30,000 to 60,000 square feet, a shift from the larger leases of 100,000 to 150,000 square feet in the past. Lennar is the most active homebuilder in the Triangle, having completed 2,465 homes in 2023, while PulteGroup ranked second with 1,190 homes. Both companies have ongoing projects in the region.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Nov 5

Comvest Private Equity, a leading middle-market investment group, has made a majority investment in Riccobene Associates Family Dentistry, a dental services organization (DSO) based in Cary. The deal is in partnership with Riccobene’s founder and CEO, Dr. Michael Riccobene. This marks Comvest’s 14th healthcare services platform investment.

Founded in 2000, Riccobene operates 62 multi-specialty dental clinics across North Carolina, Virginia, and South Carolina, providing a wide range of dental services. The company has grown rapidly and now employs over 150 providers. Dr. Riccobene will retain a significant ownership stake and continue as CEO, working with the existing management team.

@businesswire
#carync #caryeconomicdevelopment

Comvest Private Equity, a leading middle-market investment group, has made a majority investment in Riccobene Associates Family Dentistry, a dental services organization (DSO) based in Cary. The deal is in partnership with Riccobene’s founder and CEO, Dr. Michael Riccobene. This marks Comvest’s 14th healthcare services platform investment.

Founded in 2000, Riccobene operates 62 multi-specialty dental clinics across North Carolina, Virginia, and South Carolina, providing a wide range of dental services. The company has grown rapidly and now employs over 150 providers. Dr. Riccobene will retain a significant ownership stake and continue as CEO, working with the existing management team.

@businesswire
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 31

Happy Halloween from Cary Economic Development! You’re sure to encounter some of your favorite candy tonight, but have you ever wondered which candy is the most popular in North Carolina? According to Instacart’s data on the top purchased Halloween candy for each state in 2023, North Carolina’s favorite Halloween candy is Reese’s Peanut Butter Cups, which also happens to be the top choice in 40 total states! 🎃🍫🍬

@axios
#halloween #carync #caryeconomicdevelopment

Happy Halloween from Cary Economic Development! You’re sure to encounter some of your favorite candy tonight, but have you ever wondered which candy is the most popular in North Carolina? According to Instacart’s data on the top purchased Halloween candy for each state in 2023, North Carolina’s favorite Halloween candy is Reese’s Peanut Butter Cups, which also happens to be the top choice in 40 total states! 🎃🍫🍬

@axios
#halloween #carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 30

A 50-acre site in Cary, located at 8200 and 8400 Regency Parkway, is on the market for $20 million, with potential for development into a destination center near Koka Booth Amphitheatre. The property is undergoing rezoning to planned development and aims to attract a developer with a vision for community-friendly spaces like restaurants.

@leeassociatesrdu is listing the property on behalf of the Holt families, who are looking to sell it to a company that, “has a strong vision for how our land can become a partner with Koka Booth Amphitheatre … a destination perhaps with restaurants and other things that make it a really good fit there.”

@trianglebizjrnl
#carync #caryeconomicdevelopment

A 50-acre site in Cary, located at 8200 and 8400 Regency Parkway, is on the market for $20 million, with potential for development into a destination center near Koka Booth Amphitheatre. The property is undergoing rezoning to planned development and aims to attract a developer with a vision for community-friendly spaces like restaurants.

@leeassociatesrdu is listing the property on behalf of the Holt families, who are looking to sell it to a company that, “has a strong vision for how our land can become a partner with Koka Booth Amphitheatre … a destination perhaps with restaurants and other things that make it a really good fit there.”

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 29

Cary Town Council held a ceremonial groundbreaking on October 28 for the first mixed-income housing development on town-owned land.

In partnership with Laurel Street, an affordable housing developer, Cary is developing affordable housing at 921 SE Maynard Road. There will be 126 new unit rentals, with 64 of them specifically for low and moderate-income households. It will also have environmentally sustainable features, such as solar and green stormwater infrastructure. Cary is expected to welcome new residents in 2026.

@abc11_wtvd
#carync #caryeconomicdevelopment

Cary Town Council held a ceremonial groundbreaking on October 28 for the first mixed-income housing development on town-owned land.

In partnership with Laurel Street, an affordable housing developer, Cary is developing affordable housing at 921 SE Maynard Road. There will be 126 new unit rentals, with 64 of them specifically for low and moderate-income households. It will also have environmentally sustainable features, such as solar and green stormwater infrastructure. Cary is expected to welcome new residents in 2026.

@abc11_wtvd
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 28

Altitude Trampoline Park, a Texas-based franchise, is opening a location in Cary! The venue will be located at 220 Grande Heights Drive in the Harrison Pointe shopping center, less than two miles north from downtown.

Altitude has two other North Carolina locations, one in Gastonia and one in Jacksonville. It has approximately 100 locations in 27 states and abroad. Attractions at Altitude vary by location and include dodgeball, climbing walls, foam pits and more.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Altitude Trampoline Park, a Texas-based franchise, is opening a location in Cary! The venue will be located at 220 Grande Heights Drive in the Harrison Pointe shopping center, less than two miles north from downtown.

Altitude has two other North Carolina locations, one in Gastonia and one in Jacksonville. It has approximately 100 locations in 27 states and abroad. Attractions at Altitude vary by location and include dodgeball, climbing walls, foam pits and more.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 24

Developers have made significant progress on the redevelopment of South Hills Mall in Cary, North Carolina, after the Cary Town Council approved a rezoning plan. The project, led by Loden Properties and Northpond Partners, aims to transform the 44.35-acre site into a mixed-use area featuring residential, office, hotel, retail, and a sports complex over the next 10 to 15 years, with construction starting in late 2024.

@trianglebizjrnl
#carync #caryeconomicdevelopment

Developers have made significant progress on the redevelopment of South Hills Mall in Cary, North Carolina, after the Cary Town Council approved a rezoning plan. The project, led by Loden Properties and Northpond Partners, aims to transform the 44.35-acre site into a mixed-use area featuring residential, office, hotel, retail, and a sports complex over the next 10 to 15 years, with construction starting in late 2024.

@trianglebizjrnl
#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 23

Are you wondering what development projects are in the works in Cary? Cary’s Interactive Development Map provides a graphic layout of ongoing development projects. Check it out to find out what is happening around Cary and details on each project.

https://www.carync.gov/projects-initiatives/maps/interactive-development-map

#carync #caryeconomicdevelopment

Are you wondering what development projects are in the works in Cary? Cary’s Interactive Development Map provides a graphic layout of ongoing development projects. Check it out to find out what is happening around Cary and details on each project.

https://www.carync.gov/projects-initiatives/maps/interactive-development-map

#carync #caryeconomicdevelopment ...

caryeconomicdevelopment

Oct 18

Woodfield Investments, a developer in the Carolinas and Virginia, acquired 9.19 acres of land in southeast Cary for $6.9 million. The land is for Woodfield’s 330-unit Macedonia Road apartment project near the Tryon Village shopping center.

Check out @trianglebizjrnl for the full story

#carync #caryeconomicdevelopment

Woodfield Investments, a developer in the Carolinas and Virginia, acquired 9.19 acres of land in southeast Cary for $6.9 million. The land is for Woodfield’s 330-unit Macedonia Road apartment project near the Tryon Village shopping center.

Check out @trianglebizjrnl for the full story

#carync #caryeconomicdevelopment ...

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