This article appeared in the News and Observer on Dec 20, 2011. The Murray Group felt it was a great piece of information for our Cary area realtors, so we are passing it along.
A plan for the property was approved before the recession, but "it sat idle for the last three years or so," said John Myers, who was president of Wakefield Development Co. for eight years. "We think it's a good location. We think it's a piece of property that has a lot of potential."
The plans include about 90 acres northwest of the intersection of Green Hope School Road and NC-55 across the street from the Highcroft community. It also will feature a few acres of commercial and office development, Myers said. Earlier plans capped the subdivision at about 300 homes, but the new developers have asked the town to allow medium-density development on more of the property, which is just east of the future path of the Triangle Expressway.
Once a farm, the land is largely owned by the Fryar family and its descendants.The Cary Town Council approved a change to the town's long-term plans last week, but the project still must win a rezoning, which a town boardalso considered last week.
Myers said he hopes to have full approval within two months, begin construction by early next year and finish before 2013.