1901 Piney Plains Road, Cary, NC 27518

Foundry Commercial, a North Carolina broker, has been retained as the exclusive agent for the owner of Dillard Drive Townhomes (the "Property"), a ±2.11-acre residential development opportunity located adjacent to The Centrum at Crossroads and just minutes from Crossroads Plaza in Cary. The owner is in the process of completing all associated off-site requirements including roadways, utilities, and stormwater. At completion, utilities will be stubbed to the site and located within Tryon Manor Drive and stormwater will be installed off-site with capacity to serve the townhome development. Dillard Drive Townhomes is located within the Dellinger Planned Development District (PDD) and was rezoned in 2021 allowing for up to 20 townhome lots. The site has been conceptually drawn for seven lots, however, flexibility in final development options remains as the developer will need to submit site plans with the Town of Cary.

Dillard Drive Townhomes benefits from significant off-site improvement work completed by the owner including installation of Southern Plains Drive, Tryon Manor Drive, and a greenway along the northwest property boundary. Upon closing all utilities will be stubbed to the site and located in Tryon Manor Drive and off-site stormwater will be installed with capacity to support the townhome development. The off-site improvements not only provide an easier path to development, they also increase connectivity to the site from Walnut Street and nearby shopping centers.

The southeast Cary submarket benefits from proximity to US-1 and I-40/440, a strong employment presence, and robust retail amenities. Crossroads corporate park is home to large employers such as Wake County Public School System, Jacobs Engineering, and Epic Games. In addition to employment and retail, the site is supported by strong demographics with an estimated household income of $127,710 within one mile of the site. Despite a dearth of new construction product in the last few years, resales have been strong. Within three miles of the site over 19 units have been sold in the last two years with prices averaging $626,368 for product built between 2014 and 2023.