CBL & Associates Properties Inc. today announced future plans to transform Cary Towne Center in Cary, N.C., into a mixed-use destination.
Last week's announcement by IKEA of its proposal to build a store adjacent to Cary Towne Center provides a keystone attraction for the project and a catalyst for its redevelopment, the company said.
Over the last several months, CBL has worked with the town of Cary to start the rezoning process with the goal of creating a flexible land use that will facilitate a creative, modern, multi-phase and multi-use redevelopment, the Chattanooga-based shopping center developer said.
"We are committed to executing a progressive redevelopment of the project that seamlessly complements the proposed IKEA store and is reflective of the vision and unique characteristics of the market," said Stephen Lebovitz, CEO of CBL, in a statement.