Cary Towne Center, like many malls in America, has hit hard times. Three of the mall's top tenants dropped out and Turnbridge Equities, a real estate development firm, bought the property in 2019.
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That firm has now released its plans for redeveloping the mall.
In February 2021, groundbreaking is set to begin on what will eventually be called Carolina Yards.
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The plan is to tear down the old mall and replace it with a huge mixed-use facility that includes residential, office, commercial, hotel and outdoor space.
"It's really going to be a full redevelopment and a full reimagining," Jason Davis, the managing principal of the developer Turnbridge Equities, told our newsgathering partners at the News & Observer. "It's mixed-use experience that is walkable, is outdoors and provides different types of spaces for events, meetings, for passive recreation and active recreation."