**Prominent Cary Property Back on the Market as Redevelopment Opportunity**
The Grace Christian School property in Cary, North Carolina, is officially back on the market following the institution’s decision to relocate to Apex. Initial plans by the town to potentially utilize the site for a recreation center were halted when voters rejected a funding bond proposal.
The property, located just off Interstate 40, is being listed for sale by Lee & Associates, with an asking price reportedly between $15 million and $20 million. While the school prepares its transition to Apex, it plans to lease back the Cary property until the summer of 2027.
The site is being marketed as a prime redevelopment opportunity. Early concept plans envision the development of three buildings containing a total of 795 residential units, 41,000 square feet of retail space, and 1,280 parking spaces housed within wrapped parking structures.
Meanwhile, across the street on the adjacent mall site, Loden Development and Northpond Partners are planning a large-scale mixed-use project. Their proposed development includes 1,755 residential units, 350 hotel rooms, 935,000 square feet of office space, 550,000 square feet of commercial space, and 235,000 square feet dedicated to research and laboratory facilities.
This large parcel of land in a high-traffic area presents a unique opportunity for investors and developers aiming to tap into the growing Triangle market.
