The developers behind Fenton, a $1 billion, 69-acre mixed-use development in Cary, plan to celebrate the start of construction with a groundbreaking ceremony at the site today, Nov.12
Fenton will be Cary’s first vertically integrated, mixed-use destination and one of the largest retail-focused projects underway in the United States. Hines, an international real estate firm, Columbia Development and USAA Real Estate are partners in the project, which is located along I-40 and Cary Towne Boulevard. The first phase of the development is expected to open in Spring 2022.
“Fenton is pressing forward, and the start of vertical construction places us one step closer to achieving our vision of creating an urban, pedestrian-focused destination to live, shop, dine and work in the heart of the Triangle,” said Paul Zarian, director at Hines.
“We look forward to seeing this memorable project rise in the months ahead,” he said, in a statement announcing the groundbreaking.
“We’re very excited to be the home of Fenton and appreciate the partnership we’ve had with the developers as well as the state of North Carolina to help turn an idea into reality,” said Cary Mayor Harold Weinbrecht Jr. “Our nation is enduring significant challenges, and it’s very important to have projects like Fenton to celebrate and come together on as we navigate the troubles of today by the light that shines from a hopeful and optimistic future.”
The first phase of Fenton will deliver approximately 345,000 square feet of shops, restaurants and entertainment space, 200,000 square feet of office space, a 175-key boutique hotel and a 357-unit luxury apartment community, The Canopy at Fenton.
“At a time when many retailers are shrinking their footprints, world-class brands are expanding into new brick-and-mortar spaces at Fenton – a move that signals the industry’s faith in this mixed-use project,” said Jeff Hines, Hines Chairman and CEO.
Fenton’s leasing team recently announced that Arhaus, the family owned and operated home furnishing retailer, would join the development’s retail mix. Arhaus’s 17,974-square-foot store will offer a compelling, inspiration-filled environment with one-of-a-kind handcrafted home furnishings.
Arhaus joins a growing list of confirmed tenants, which includes:
- Wegmans
- CinéBistro
- Sephora
- Bailey’s Fine Jewelry
- Crawford & Son
- Superica
- Free People
- Colletta
- Cru Wine Bar
- Honeysuckle Gelato
