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Casto JV Pencils Spring Start for $150M MXD

MORRISVILLE, NC- Park West Village will include 750,000 sf of retail and restaurant space, 50,000 sf of office, 140 hotel rooms and 350 residential units.

By Natalie Keith | Updated on February 08, 2008

MORRISVILLE, NC-The Morrisville Board of Commissioners has approved plans for the $150-million Park West Village mixed-use development. Construction is expected to begin in the spring.

The project, on 95 acres at the northeast corner of Cary Parkway and Chapel Hill Road, is a joint venture being undertaken by Sarasota, FL-based Casto Lifestyle Properties and Cary-based First Carolina Properties. It will include 750,000 sf of retail and restaurant space, 50,000 sf of office, 140 hotel rooms, and 350 traditional and “main street over retail” residential units. Project plans call for the establishment of districts within the project. Each district will have an architectural theme with common features to create uniformity.

The project is expected to be completed in fall 2009. A general contractor has not yet been named for the project, but the architect is Raleigh-based Cline Design. GlobeSt.com first reported on the project in May.

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