Sep

Waverly Sold To Distant Firm

The Cary shopping center that once looked like the prologue to a New Urbanist’s dream has been sold, according to Jack Hagel at the News & Observer . Durham’s Todd Zapolski has given up his aggressive dream for reorganizing the site into a North Hills cousin, and sold the property to RP Realty Partners , a Beverly Hills, CA firm. Zapolski told the N&O he was glad to be cashing out on the property that has had so much trouble gaining momentum. Zapolski did not sell his outparcels at the center.

As you may recall developers Zapolski and Rudd bought the odd-shaped site a few years ago and proposed partial demolition in order to facilitate high-rise hotel, condo, and office space. Z&R reorganized and in June I hypothesized that Waverly might have an advantage in getting a Dean & DeLuca store based on the fact that Leslie Rudd owns D&D.

Most likely the existing plans (.PDF) for the center will be scrapped. Who knows what RP wants to do with the property, but we all know how it goes with long-distance landlords. In an area of the Triangle that is dying for upscale shopping opportunities, RP will probably low-ball the entire project and continue to hold nearby residents hostage.

http://winenc.blogspot.com/ Amy G.

I’m very curious about what they will do with this location. I always thought it was a neat shopping center, but it hardly ever drew a crowd, except when the movie theater was there. I went to that theater a lot as a teenager. My friends and I used to go to a movie and then get coffee at Paradigm Coffee House. Unfortunately, cops started running all of us off and we stopped going.
http://www.ncscoop.com NC Scoop

That’s pretty sad news… I would had definitely frequented Waverly a lot more if they did put a Dean & Deluca in. I wonder if/ when the Triangle will see a Dean & Deluca. Charlotte has one… so there is hope!
http://www.raleighmsa.com Ernest

Strictly because of the non-urban form, I will not lament for this project. Yes, it was a great redevelopment, but hardly the kind of visions we need. Some day developers and town/city planners will have to learn to do what’s right. I surely hope that the future incarnation of Waverly Place will be a more urban place.

As for the Waverly place of yester years, I still remember going to Seldom Blues… What a great venue that was!!! Waverly Place was probably the nicest shopping center in the area and could have benefited from a few infills within its boundaries – in an urban fashion, of course – but we all know how things went. I agree with Amy G.’s and NC Scoop’s comments.
Brendan

The design is a disaster requiring an anchor on each side of the shopping center. HT was originally the anchor on the Kildaire Farm side until they moved across the street. The Tryon Road side never has had a successful anchor, while the backside had a movie theater at first, but that left years ago.

I would love to see a commercial/retail/residential mix. Just visited Rockville, MD and love Rockville Town Square. Now Cary would NEVER do anything this nice (or tall)., but I would hate to see just another stupid shopping center with a nails store, a Jersey Mike’s and Radio Shack.
Kate

More than a year has passed since the sale to RP Realty Partners in Beverly Hills… sigh.

I really wish this project would get rolling. I would love to see an Angelika Film Center in this location!!
– restaurants and coffee shops with outdoor dining!
– boutique shops
– Dean & Deluca, Del Frisco’s, Martini Park
(if anyone is listening ðŸ˜‰

So much wealth in this area of Cary… they really should capitalize on the opportunity. It could be a great place to gather before and after concerts at Koka Booth.

gogoraleigh.com

Waverly Sold To Distant Firm

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