CommercialCafe, a commercial real estate blog, ranked the Raleigh and Cary area as No. 7 in the nation and No. 1 in the state for millennials to live. The website studied large and midsize metropolitan areas on the basis of demographics, median earnings, educational attainment, health insurance coverage, cost of living, and unemployment rate to determine these results. One of the key takeaways of this study is that the area saw the fourth-highest jump in its percentage of millennials from 2017 to 2021. 

In May, Cary held its first Senior Housing Symposium at the Herb Young Community Center. It brought together regional experts on senior housing affordability to explore needs, opportunities, and resources to support diverse senior housing options. The agenda included senior demographic data, best practices for constructing and operating affordable senior housing, and models to support aging in place in Cary. Mayor Harold Weinbrecht, Councilmember Lori Bush, Councilmember Carissa Kohn-Johnson, and Assistant Town Manager Danna Widmar joined  the discussion with regional leaders, including AARP, Wake County's housing division, Wake County Department of  Human Services, DHIC, Brick Capital, Rebuilding Together of the Triangle, and Dorcas Ministries.

On May 23, Town Manager Sean Stegall and Councilmember Ryan Eades hosted an HOA meeting. Attendees were provided with an overview of ongoing projects, followed by an opportunity for open discussion. 

On May 16, the Cary Chamber of Commerce held the Small Business Excellence Awards Luncheon. Councilmembers Jack Smith and Carissa Kohn-Johnson shared remarks, and Kohn-Johnson presented the Public Art Advisory Board Creative Placemaking Award to Singh Development for commissioning artist Thomas Sayre to create a unique “earth casting” sculpture for its Griffin Weston apartment project. The Creative Placemaking Award was created to increase public awareness of outstanding public art and to recognize and encourage design excellence in the private development sector.  

 

Cary issued 106 permits for new detached residential and townhouses in Q4. The top subdivisions permitted were Courtyards at West Cary (58), Abberly Alston (10), Carpenters Pointe Townhomes (10), and Southwest Zone (10). Overall, permits for new detached and townhouses decreased by 46 permits in comparison with Q4 of FY 2022.

In addition, Cary issued 102 detached and townhouse certificates of occupancy in Q4, an average of 1.7 certificates per workday. This is fewer than the COs issued in Q4 of FY 2022, which was 221. The subdivisions receiving the most COs were Carpenter (22), Estates at Weddington (15), Autumnwood (8), Carpenters Pointe Townhomes (8), and Courtyards at West Cary (8).

Cary also issued five building permits for a total of  495 multifamily units. Projects include Meridian Cary (195 units) and Alta Ivy at Carpenter Fire Station Road (300 units). 

 

In Q4, Cary issued 396 permits for residential alterations and additions. This is a decrease of 91 permits from the same period last year and a decrease of seven permits from last quarter.