A $51 million joint investment from a developer and the Town of Cary could completely transform one of the principal blocks in downtown if a plan to build retail and office space, apartments and downtown Cary’s third parking deck comes to fruition.
Northwoods Associates LLC wants to build a 55,000- to 75,000-square-foot retail and office building on the southeast corner of West Chatham Street and Harrison Avenue. An access road would run between the building and Elizabeth’s Home and Garden Shop leading to a 188-unit apartment building and a 466-space parking deck. NorthView Partners LLC would develop the apartments.
“This project, at least to my knowledge, has been in the works 10 years, maybe a little bit longer,” said Ted Boyd, the town’s downtown development manager, Tuesday when he presented the project at a Cary Town Council work session. Boyd showed the council preliminary plans for the project to demonstrate layout and scale, but a building design has yet to be completed.
The project would require a $5 million commitment from the town for construction of the parking deck, stormwater facilities to serve the entire site, surface parking and access roads. The Town Council unanimously approved paying these costs from ...