Cary Town Center Mall is located in Cary, North Carolina and opened in 1979 and has seen its tenants diminish through the years. Cary Towne Center Mall, like many malls in America, has hit hard times. Most of the mall's top tenants dropped out. A real estate development firm, bought the property in 2019. Plans have been in the works to transform Cary Towne Center from a traditional mall to a mixed-used development for many years. An announcement made by IKEA to open a 350,000-square-foot store in 2020 where Sears and Macy's were once located, CBL began the rezoning process with the Town of Cary to redevelop the property. The submitted mixed use proposal included retail (352,000 SF), residential (800 dwelling units), office (600,000 SF), hotel (600 rooms) and community spaces. However, in late May 2018, IKEA reversed its earlier plans and publicly announced they were no longer coming to Cary because of the retail apocalypse. As a result, CBL announced that it had defaulted on the mall's mortgage and was going to sell the mall. On January 31, 2019, Turnbridge Equities and Denali Properties announced they had purchased the mall. Turnbridge and Denali announced plans in October 2020 to close and demolish Cary Towne Mall following the 2020 holiday shopping season. The property will be transformed into a mixed-use project, which will include retail, hotel, residential, and office space, along with plenty of open outdoor space for gatherings, recreation, and events. Belk, along with Dave and Buster's, will be renovated and remain open becoming part of the new development.
27 дек 2020
