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Cary Mall Owners Moving Ahead on Transformation
South Hills Mall will finally get its new look. Three years after spending $38.4 million to buy the mall in Cary, the town has greenlighted developers to build a mixed-use project on the 44 acres.
Loden Properties and Northpond Partners are the team behind the large project, which calls for a mix of residential, office, hotel, retail and a sports complex. A bond referendum on the November ballot in Cary would provide funding for the sports complex.
The timeline for the 44.35-acre development will span 10 to 15 years, with Loden and Northpond planning to start construction late next year. In addition to 1,755 residential units and 350 hotel rooms, here’s what Loden and Northpond are looking to bring to the site:
- 935,000 square feet of office space
- 550,000 square feet of retail/commercial space
- 328,000 square feet for a community and sports recreation center
- 235,000 square feet for research and lab space
NOVEMBER 6, 2024: Next Wednesday, the most active retail investors, owners, developers, forecasters, managers, brokers, lenders, and others will be at the Luxe Sunset Blvd Hotel for this year’s Connect Retail West conference. Don’t miss the leading retail CRE event happening next week on Wednesday, November 6th – Be sure to register in advance, registration pricing increases on event day.
- ◦Development
