Changes In Store For Hay Street Landmark
Posted July 24, 2001
FAYETTEVILLE — There have been lots of positive changes along Hay Street over the years. Another major project in the works hopes to breathe new life into a piece of Fayetteville's history.
Years ago, the Capitol Department Store was the place to shop in downtown Fayetteville. Competition from the mall forced it to close in 1990.
Today, the store is nothing more than a moldy, rusty, shell of a building.
Developers John Malzone and Eric Lindstrom have a
vision for the future
of the 89-year-old structure.
"The front area will become the future retail area. We're actually going to create a courtyard behind it," says Lindstrom.
"It's exciting to think of this being transformed into several million dollars worth of appreciating real estate which is going to mean more tax revenue for the citizens," says Malzone.
The store will be the future site of 14 luxury town homes ranging in size from from 2,000 to 3,000 square feet.
The design will be a mixture of modern technology with a 1950's flair. Most of all, the project will keep the historic storefront intact.
"I think this is just another step on the road to a better self-image for all the people of Fayetteville and Cumberland County," says Malzone.
Construction crews expect to break ground on the town homes before the end of the year.