CBL & Associates Properties, Inc. on Monday announced future plans to transform Cary Towne Center in Cary, N.C., into a mixed-use destination. Last week’s announcement by IKEA of its proposal to build a store adjacent to Cary Towne Center provides a keystone attraction for the project and a catalyst for its redevelopment, said officials.
Over the last several months, CBL has worked with the town of Cary to start the rezoning process with the goal of creating a flexible land use that will facilitate a creative, modern, multi-phase and multi-use redevelopment. CBL is evaluating a number of redevelopment scenarios that could feature a mix of premier retail, dining, and entertainment options as well as residential, grocery, office, and green space. CBL has commissioned Dwell Design Studio, a mixed-use planner and the architect of record for a number of the country’s highly regarded and successful mixed-use destinations.
“CBL is thrilled that IKEA has chosen Cary Towne Center for its next potential location in North Carolina," said Stephen Lebovitz, president and CEO of CBL & Associates Properties, Inc. "We are committed to executing a progressive redevelopment of the project that seamlessly complements the proposed IKEA store and is reflective of the vision and unique characteristics of the market. Cary Towne Center is ideally located, and there is strong demand to elevate the center to the next level.”
Businesses interested in obtaining information about the Cary Towne Center redevelopment should contact Jon Meshel, vice president – Development/Redevelopment at Jon.Meshel@cblproperties.com or 490-8269.