East Cary could see new residential, retail community in next few years

Posted on 04/15/13 No Comments

Even though it’s still up for debate within the offices of Cary’s Town Council, Lennar Carolina has plans to re-invent the eastern half of Cary with a 400-home, mixed-use community called The Boulevard.

The community would be built on land that is now owned by the state. As part of the agreement, North Carolina would sell the land to Lennar with the hopes the neighborhood would be complete sometime around 2018. That date obviously depends on the pace at which the Town makes its decision. Apparently debate is centered on housing designs and street configurations. Based on news reports, no member of the council seems strictly opposed to the development.

Specifically, the Boulevard would be located next to WakeMed Soccer Park along E. Chatham Street, which becomes Hillsborough St. in Raleigh as you travel east from Cary. Proponents of the project are citing the benefits having more, new living options in an area relatively vacant of new home construction. The project also calls for a significant retail presence, which could also use a refresher along that stretch of road. Certainly nearby home values would receive a shot in the arm, as would the slew of established, locally owned businesses that dot the miles-long span between Raleigh and Cary.

The new community could further bind the “stadium district” that’s being slowly created between NC State’s Carter Finley Stadium and the PNC Arena, home of the NHL’s Carolina Hurricanes and Wolfpack men’s basketball and the recently expanded WakeMed Soccer Stadium. It’s taken many years longer than most believed it would to develop west Raleigh. Lennar’s Boulevard community in Cary may be the last shot of economic adrenaline needed to solidify this corner of the Triangle.

Stay tuned, this could be an exciting development for Raleigh-Cary real estate.

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