Cary Towne Center to be rebuilt as Carolina Yards, a facility with shops, homes, offices

CARY, N.C. (WTVD) -- A Triangle mall built in 1979 will soon be demolished and rebuilt as a mixed-use facility with retail, residential, and office spaces.

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.

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.

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."