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Assemblage is the largest remaining large plot in DT Cary and will hit the market.
Off the SW corner of E Chatham Street and NW Maynard Road.
Includes the trailer park, the old sprawling one-level retail complex, including the building housing the DMV.
It will take a deep pockets developer to bring out the potential of $1 million/acre.
And, there are myriad leases to work through or buy out.
The trailer park is the largest parcel in the assemblage, with the other properties to the north and east of the trailer park:
I guess it will be OK, as long as they don't have red metal roofs and paint everything beige.
And if everything looks uniquely identical to everything else. So, designers are expressing their creative independence by demonstrating vision in conformity to everyone else.
Chatham Square is such an interesting mix of ethnic shops and restaurants. I hope some of it can be preserved, but it's doubtful given the economics involved. A couple of those buildings at the corner are going to have to go anyway as part of the planned grade separation with the railroad tracks.
Displacing the mobile home park residents is of course a sticky question, but the property owner has the right to do as they see fit with their property. It was only a matter of time before this happened. Same thing is true with the one across Maynard.
This isn't directly part of the Eastern Gateway study area Cary did a few years ago, but it's directly across Maynard from the NW corner of it, and big changes are envisioned there with an emphasis on multi-family and transit-oriented development.
I like how the owner says he's "not looking for redevelopment but rather someone who will manage the property." Anybody buying that for $50 million isn't looking to just manage it lol.
"Off the SW corner of E Chatham Street and NE Maynard Road" maybe?
I've wondered what the WPTF / Morrison Engineers PLLC / Dominion Energy hunk off of the NE corner might be worth. Especially after the 850 AM site was cleared over off NW Cary Parkway.
Last edited by ncwheeling; 03-01-2023 at 02:42 PM..
The Cary Community Plan envisions the radio towers being moved and that area being developed, but the PSNC facility is unlikely to be redeveloped in the reasonable future given the amount of infrastructure on the site that would be prohibitively expensive to rebuild elsewhere.
Don Curtis owns the 30 acres between 54 and Hillsborough (two tracts). He'd have to move his WPTF and also his WQDR-AM and WKIX on the same site. The latter two are simple. Moving WPTF is more complicated if he wants to retain its 50 kilowatt authorization. But he might let that go, for the right price for the real estate. I think Curtis just passed 80 and surely he's thinking about his exit.
Assemblage is the largest remaining large plot in DT Cary and will hit the market.
Off the SW corner of E Chatham Street and NW Maynard Road.
Includes the trailer park, the old sprawling one-level retail complex, including the building housing the DMV.
It will take a deep pockets developer to bring out the potential of $1 million/acre.
And, there are myriad leases to work through or buy out.
The trailer park is the largest parcel in the assemblage, with the other properties to the north and east of the trailer park:
A million an acre? Someone would need to build 5 story or taller apartments to even come close to making that work. That or some really expensive houses on some really small lots.
A million an acre? Someone would need to build 5 story or taller apartments to even come close to making that work. That or some really expensive houses on some really small lots.
Mixed use would be necessary to make it work.
It is a very good assemblage in a great location.
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