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Developer Pulls Plans for Cary Mixed-Use Project

Posted April 23, 2008

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— The Raleigh real estate developer building what will be the city's tallest building withdrew its proposal this week for a mixed-use project in Cary.

Cary town planners said the Soleil Group decided against developing the property at the corner of Richard Drive and Harrison Avenue because the town would have required Soleil to make $10 million in road improvements to accommodate additional traffic.

Residents Tommy and Nancy King first offered the land to SAS – its campus sits next to the land – three years ago, but the software company declined the offer.

When the Soleil Group proposed a mix of residential and retail properties, SAS decided it wanted the land to be developed with several office buildings and a school.

Cary's Planning and Zoning Board plans to review SAS's proposal in mid-June. The Town Council could vote in July.


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  • chfdcpt Apr 25, 2008

    jermaniac, I thought that the impact fees everyone on this blog keeps yelling about is for paying for things like road improvements. Of course, I guess that Cary will not get the impact fee for that development.

  • LuvLivingInCary Apr 24, 2008

    i think i will buy it and start a pure gold north...better yet one of those adult arcade type stores.

  • ncwebguy Apr 24, 2008

    It is sad that SAS can have so much influence on land they don't own. SAS didn't want competition for their shopping center across the street, so Cary jacked up the infrastructrue costs required of the devloper.

    I don't think the Soleil group should get a free ride for the added turn lanes, etc. but they shouldn't have to pay 100% for it since they are increasing the tax base. And Cary has a history of doling out similar hand outs.

  • TheAdmiral Apr 24, 2008

    Well, I am sorry - you are lucky to get a dirt road if a developer feels like it.

    The tune in Cary has turned to not developing much of anything. Since so far my tally shows all of these mixed use places have about a 60% vacancy rate.

  • Jermaniac Apr 24, 2008

    Its common practice to require the developer to pay for road improvements. The cost is just factored into the rents or sales price when they are done. But, $10,000,000 seems very excessive. Its almost as if Cary wanted them to fund a beltline around Cary.

  • whatelseisnew Apr 24, 2008

    I find it interesting that people always want someone else to pay for things.

  • davidgnews Apr 23, 2008

    Typical developers.

    You don't have to look far around some Raleigh/Cary subdivisions to see the sub-standard roads built to last just until after the developers leave !

    Good for the citizens !!!