Issue link: http://townofcary.uberflip.com/i/791958
CHALLENGES AND OPPORTUNITIES As commercial and residen al proper es age, the Town faces new challenges. Some neighborhoods and shopping centers have started to warrant reinvestment. With more than 4,000 residen al units that are over 40 years old and aging strip commercial centers located in various loca ons throughout Town, the community desires a new approach to address these areas. Developers are now turning to new opportuni es to revitalize older developments on infill or redevelopment sites. The Town's current land regula ons were developed to guide growth on undeveloped land, not redevelopment of exis ng developed sites or infill sites. A retooling of these ordinances is needed to support these revitaliza on efforts and facilitate much needed reinvestment in areas with aging developments needing reinvestment. New Opportunities for Infill and Redevelopment As local and na onal popula ons change, the demand for a diversity of housing and employment choices are changing as well. More and more households and employers are choosing loca ons that are walkable and located near or within vibrant community centers that support collabora ve interac on with other businesses and that support a need to stay connected. This consumer preference is good because walkability is linked with a host of posi ve environmental, health, economic, and fiscal indicators. In order to a ract and retain a diverse popula on and workforce, in addi on to promo ng sound fiscal policy, promo ng healthy lifestyles, and sustainable transporta on op ons, the Town has an opportunity to support strategic development that will offer a more walkable and connected built environment for future residents. Demand for New Development Options The Arboretum at Weston is a local example of a mixed use, walkable development that provides housing, shopping and retail, and vibrant public spaces for interac on with neighbors and colleagues. More and more opportuni es to redevelop aging commercial proper es and older neighborhoods are being proposed in Cary. This image shows the concept to redevelop a single-story commercial property on Chatham Street in Downtown Cary to a mul -story mixed use project. Future Opportunities for Transit-Oriented Development While plans for future transit service in Wake County are not fully in place, regional planning efforts have iden fied a system that includes opportuni es for transit sta ons located in Cary within the Maynard Loop. How land is developed around these poten al transit sta on sites will have a direct impact on the success of the rail service in Cary and the region, and the poten al for increasing economic development opportuni es around sta on sites. Furthermore, development around major local and regional bus stops could play a major role in increasing the viability of high quality bus service and ensuring accessibility to high quality transporta on op ons for the en re community, especially those who do not own a vehicle. Chapter 2: How We Got Here Wake County and its partners are planning for future transit service that will connect des na ons within the region. While the exact plans are not finalized, there is s ll an opportunity for Cary to plan for transit sta on area development that will support the success of a regional transit system. 83