CBL & Associates Properties, Inc. Plans Mixed-Use Redevelopment at Cary Towne Center in Cary, NC
May 22 2017 - 9:00AM
Business Wire
CBL & Associates Properties, Inc. (NYSE:CBL) today announced
future plans to transform Cary Towne Center in Cary, North
Carolina, into a dynamic mixed-use destination. Last week’s
announcement by IKEA of its proposal to build a store adjacent to
Cary Towne Center provides a keystone attraction for the project
and a catalyst for its redevelopment.
Over the last several months, CBL has worked with the town of
Cary to start the rezoning process with the goal of creating a
flexible land use that will facilitate a creative, modern,
multi-phase and multi-use redevelopment. CBL is evaluating a number
of redevelopment scenarios that could feature a mix of premier
retail, dining, and entertainment options as well as residential,
grocery, office, and green space. CBL has commissioned Dwell Design
Studio, a nationally respected mixed-use planner and the architect
of record for a number of the country’s highly regarded and
successful mixed-use destinations.
“CBL is thrilled that IKEA has chosen Cary Towne Center for its
next potential location in North Carolina. We are committed to
executing a progressive redevelopment of the project that
seamlessly complements the proposed IKEA store and is reflective of
the vision and unique characteristics of the market,” said Stephen
Lebovitz, president and CEO of CBL & Associates Properties,
Inc. “Cary Towne Center is ideally located, and there is strong
demand to elevate the center to the next level.”
Businesses interested in obtaining information about the Cary
Towne Center redevelopment should contact Jon Meshel, Vice
President – Development/Redevelopment at
Jon.Meshel@cblproperties.com or 423.490.8269.
About CBL & Associates Properties,
Inc.
Headquartered in Chattanooga, TN, CBL is one of the largest and
most active owners and developers of malls and shopping centers in
the United States. CBL owns, holds interests in or manages 123
properties, including 80 regional malls/open-air centers. The
properties are located in 27 states and total 76.9 million square
feet including 5.9 million square feet of non-owned shopping
centers managed for third parties. Additional information can be
found at cblproperties.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170522005286/en/
CBL & Associates Properties, Inc.Katie Reinsmidt,
423-490-8301Executive Vice President – Chief Investment
Officerkatie.reinsmidt@cblproperties.comorMedia
Contact:Stacey Keating, 423-490-8361Director – Public Relations
& Corporate Communicationsstacey.keating@cblproperties.com
CBL and Associates Prope... (NYSE:CBL)
Historical Stock Chart
From Mar 2024 to Apr 2024
CBL and Associates Prope... (NYSE:CBL)
Historical Stock Chart
From Apr 2023 to Apr 2024
