A plan for the $193 million project includes 12 full-size basketball courts, a 4,000-seat arena, a 25,000-foot multi-purpose space, four full-size locker rooms and a full-service restaurant. The basketball courts can be converted into 20 full-sized volleyball courts.
The complex would ideally host large indoor basketball and volleyball tournaments along with e-gaming conventions.
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The project would be built, operated and managed by the town with financing planned through limited obligation bonds.
Annual funding of up to $2.36 million would be available to support capital costs associated with the project for a maximum period of 25 years.
Approval will be sought at a Board of Commissioners meeting on Feb. 17 and a Raleigh City Council meeting on Feb. 18.
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Cary Town Centre opened in 1979 and has seen its tenants diminish through the years.
In 2019, the mall was sold to investment groups out of New York and Dallas. The mall's JCPenney closed its doors and Dillard's announced plans to close permanently.
In 2018, IKEA nixed plans to open a store in the mall, and Top Golf decided against coming to the area.