October 17, 2017 Comments Off on $800M MXU Planned in North Carolina Views: 640 National News, North Carolina, Southeast

$800M MXU Planned in North Carolina

Montgomery Carolina and Lee-Moore Capital Co. formed the Eco Group, a joint venture to develop Mosaic, an $800-million mixed-use project in Pittsboro, NC. The 350-acre development is envisioned to include a mix of food and retail tenants, a hotel, as well as residential, office, public and education spaces.

Plans call for more than 200,000 square feet of retail, restaurant and services, a specialty grocer and a farm-to-table restaurant cluster. Additional components include:
• A 120-room hotel
• 210 apartment units
• 125 apartments for 55-plus
• 88,000 square feet of technical and creative office space
• 30,000 square feet of recreational and civic amenities (performing arts stages and an amphitheater)
• 15,000 square feet of educational space

The first phase of Mosaic is a $140-million entertainment and lifestyle complex slated to break ground in 2018 on a 44-acre site. Mosaic is slated for completion by 2025. The site will serve as a commercial gateway to Preston Development Co.’s Chatham Park, a 7,100-acre community under development in Chatham County.

Read more at IREI

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For comments, questions or concerns, please contact Dennis Kaiser

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