Developer Pulls Plans for Cary Mixed-Use Project
Posted April 23, 2008 6:45 p.m. EDT
Updated April 23, 2008 10:30 p.m. EDT
Cary, N.C. — 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.