Kane Realty Corporation is eyeing Cary for two new mixed-use projects that could bring nearly 500 new homes, retail space, and fresh gathering areas to two very different parts of town.
The Raleigh-based developer announced plans for Flat Iron, a proposed seven-story apartment and retail building near downtown Cary’s Chatham Street roundabout, and 7001 Weston, a redevelopment of an aging office property along Weston Parkway. Together, the projects would add up to 488 apartment homes, including a long-term affordability component at 7001 Weston.
Flat Iron would be located at 602 W. Chatham Street and 523 Old Apex Road, directly across from Vicious Fishes Brewery and South Line Brewing Co. The project calls for 213 apartment homes above 5,659 square feet of restaurant and retail space, with outdoor patio seating, structured parking, and resident amenities such as a rooftop deck, pool, courtyard, fitness center, club room, and coworking lounge.
The project would also mark Kane Realty’s first residential development in downtown Cary and is being pursued in partnership with Mackenan, a local developer involved in Cary’s West End growth.
“Flat Iron represents a meaningful next step in that work,” says Kyle Greer, founder of Mackenan. “It’s an opportunity to bring one of downtown’s most visible sites to life with a project that connects people, supports local retail, and adds more energy to this part of downtown.”
The second project, 7001 Weston, is a partnership between Kane Realty and Highwoods Properties. The plan would replace an aging office building at 7001 Weston Parkway with a five-story multifamily building featuring up to 275 apartment homes and 1,500 to 5,000 square feet of ground-floor retail.
The proposal includes preserving existing mature trees and surface parking along the southern and western edges of the site to maintain a buffer between the new building and nearby neighborhoods. Plans also include sidewalks, a greenway connection along Weston Parkway, and neighborhood-serving retail, such as a coffee shop, small restaurant, or personal services.
The 7001 Weston proposal also includes an affordability commitment, with 5% of units reserved for households earning at or below 80% of the area median income for at least 30 years.
“Cary has become one of the fastest-growing communities in the country, and its downtown is transforming just as quickly,” says Mike Smith, CEO of Kane Realty. “Flat Iron is an opportunity to help shape downtown with thoughtfully designed, walkable, mixed-use places that create long-term value for the community. 7001 Weston answers a different question—how an established suburban office corridor evolves to help solve a housing problem that wasn’t present when it was built.”
Ya Liu, a North Carolina state representative and former Cary Town Council member, said the projects represent the kind of thoughtful investment Cary needs as it continues to grow.
“These developments will deliver much-needed housing to help address the housing shortage, along with high-quality retail that will further enhance our vibrant community,” Liu says.
