CARY, N.C. – Hines, Columbia Development and USAA Real Estate today revealed new details about the planned multifamily community coming to Fenton, a 69-acre mixed-use destination underway in Cary, North Carolina. It will encompass 357 luxury apartments above a mix of shopping, dining and entertainment, with all residences expected to deliver in 2022.
Rising six stories, the Class-A multifamily community will offer a variety of studio, one-, two- and three-bedroom floorplans at market rates, as well as four loft-style units located on the ground floor. The community will be among the first new developments in Cary to vertically integrate multifamily above retail and dining, creating a dense, urban street environment. In addition to living just steps away from Wegmans, some of the best chef-driven restaurants and top retail and entertainment, residents will have access to a multistory fitness center, coworking lounge, club room, elevated pool deck and five common terraces that overlook the shops and eateries of Fenton. Forty-seven of the apartments will provide exclusive, private terraces.
“Named for its numerous outdoor patios overlooking Fenton’s energizing streetscape, this community will introduce a walkable, cosmopolitan living experience to the heart of the Triangle,” said Paul Zarian, director for Hines. “Whether meeting friends for dinner at one of Fenton’s chef-driven restaurants, enjoying a fitness class on one of the greenspaces, walking to work at the office buildings across Fenton Main Street or simply enjoying views from their homes, residents will be able to participate in all that Fenton has to offer.”
Fenton’s pedestrian-focused master plan features artful paseos, active dining patios, varied storefronts, gathering areas programmed with events, and landscapes and hardscapes that contribute to the vibrancy of the street. An elevator ride away, residents will enjoy chef Scott Crawford’s Crawford Brothers Steakhouse, Steve Palmer’s Italian restaurant Colletta, Ford Fry’s tex-mex concept Superica and Michael Lee’s M Sushi. Other tenants include anchors Wegmans and CMX CinéBistro, as well as Honeysuckle Gelato, Sephora, Free People, Bailey’s Fine Jewelry and Blo Salon.
Fenton is located at I-40 and Cary Towne Boulevard. With site work underway and vertical construction set to begin this year, the first phase will include approximately 345,000 square feet of shops, restaurants and entertainment, 170,000 square feet of office space and a 175-key boutique hotel, in addition to the multifamily residences.
Leasing is expected to begin in the spring of 2022. You can stay informed on Fenton’s progress by following @FentonNC on social media or visiting fentonnc.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.
About Columbia Development
Columbia Development is a privately held real estate development firm based in Columbia, South Carolina, with offices in Atlanta, Charleston, and Raleigh. With vast experience in site selection, development, finance, construction and leasing, Columbia Development is a leading retail and mixed-use developer throughout the Southeast. The firm is actively engaged in the development of mixed-use destinations, regional and neighborhood shopping centers and single-tenant retail assets. Columbia Development’s current pipeline includes a 92-acre regional mixed-use community in Cary, North Carolina, a 326,850-square-foot grocery-anchored power center in New Bern, North Carolina, a 235,477-square-foot Costco-anchored shopping center in Apex, North Carolina, and a 143,850-square-foot grocery-anchored center in Lexington, South Carolina.
For more information, please visit www.columbiadevelopment.com.