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Project Overview
Fenton is a mixed-use development located on 92 acres in the northwest quadrant of the I-40/Cary Towne Boulevard interchange. The site is located in the Eastern Cary Gateway Special Planning Area and was envisioned as being part of a high density Destination Center to foster business development through high quality design and an integrated, connected mix of uses.
The original Rezoning (17-REZ-14) for Fenton was approved on January 25, 2018. In accordance with the zoning conditions, a Development Agreement was subsequently approved on October 25, 2018. Since these original approvals, additional rezonings and a revised Development Agreement have been approved to address important project details and better align with the goals and objectives in the Imagine Cary Community Plan
The currently approved development includes up to a maximum of 1.2 million SF office space, 575,000 SF of commercial space, 920 dwelling units and 450 hotel rooms. Six community gathering areas and eight parking decks are also integrated into the development. Over 900 trees are being planted as part of Phase I of the project and per the project's approved Development Agreement, Fenton also has an Energy Efficiency Plan that requires the developer to pursue energy efficiency in multiple ways throughout the project.
Development History
A Clearing and Grading Plan was approved by the Town’s Development Review Committee in March 2019. In accordance with the approved plan, the installed erosion control devices and began clearing the site in August 2019. Additional construction plans and building permits for retaining walls, stormwater detention vaults and utility extensions were approved during the fall of 2019 and winter of 2020.
A Development Plan for Phase I of the development, including infrastructure and almost a million square feet of floor area, was subsequently approved on April 29, 2020 (Phase 1). The Phase 1 plan included approximately 193,000 SF of office, 368,000 SF of commercial, and 357 dwelling units (400,000 SF). The plans also included details regarding, streets, utilities, building locations, architecture, hardscape and landscaping.
The developer started construction of buildings in December 2020 and held a grand opening on June 3-4, 2022.
Development Status (Sept 2023)
The first phase of The Allison at Fenton apartments opened in January 2023 and welcomed the first residents to Fenton. The final phase of The Allison at Fenton opened in August 2023. As of September 2023, just over half of The Allison's units were under lease, with 46% of the units occupied.
Fenton’s office space is now two-thirds leased, with 9 tenants. Discussions are also underway with several additional tenants and the developer anticipates fully leasing all of the remaining office space by early 2024. As of September 2023, CAMPO, IPS and HH Hunt have opened at One Fenton Main Street, and American Tower and Cushman & Wakefield have permits and are busy upfitting their spaces to open later this year.
During 2023, several new retailers also opened at Fenton, including Blue Mercury, Faherty, Warby Parker, Von Kekel Salon, Boardroom Salon and Face Foundrie. A new restaurant and bar – Sports & Social also opened in the summer of 2023. As of September 2023, Fenton’s retail spaces on Main Street are 95% leased and the development included a total of 30 retail tenants, 9 restaurants and bars, 5 office tenants, and the movie theater.
Construction Updates
Parking Deck D-3: Fenton received approval of plans to build a new parking deck on the existing surface parking lot northeast of the intersection of Fenton Gateway Drive and Ridgeview Walk Drive. Plans were approved in December 2023, and construction began in February 2024. The 5-level 772-space deck is anticipated to be completed in early 2025. A temporary surface parking lot has been constructed on the south side of Fenton Gateway to provide additional convenience parking while this project is underway.
Quinard Drive Extension: The Fenton developer began construction Phase 2 of Quinard Drive from the existing roundabout in Fenton to SE Maynard Road in late June 2023. Construction is anticipated to be completed by the Summer 2025.
Latest Information
Additional information regarding leasing and the status of Fenton can be found on the development's official website.