Issue link: http://townofcary.uberflip.com/i/791958
CHAPTER 6:SHAPE Policy Policy Intent Policy 4: Support and Facilitate Redevelopment and Infill Development To support economic development policies, Cary will support and facilitate redevelopment and infill development, particularly within Commercial Mixed Use and Destination Centers, Downtown Cary, and core neighborhoods. The intent of this policy is to proactively address the fact that future growth and economic development will increasingly need to occur on infill or redevelopment sites, as undeveloped land on the Town's periphery becomes scarcer. Accordingly, this policy is intimately tied to Cary's future economic health. Recognizing that development costs may be higher in these locations than elsewhere in Cary, an objective of this policy is to support an increase in development intensity (compared to adjacent areas) when necessary for project viability – especially for redevelopment projects. However such development should be designed in a manner that complements surrounding properties. A related policy objective is to efficiently use and capitalize on existing public infrastructure (e.g., roads, water, sewer), and reduce the need for costly capital improvements. Another objective of this policy is to encourage the redevelopment of distressed or underperforming sites, and to help stabilize or increase property values in areas experiencing property value stagnation or decline. Policy 5: Support the Revitalization of Targeted Redevelopment Corridors Support the revitalization of a select number of targeted "redevelopment corridors" – thoroughfare corridors in older portions of Town where conditions have changed over time. Redevelopment corridors offer new opportunities for economic investment, and for improving the overall image of Cary. The intent of this policy is to help strengthen the economic health and visual appeal of specific thoroughfare corridors. Example corridors could include sections of Maynard Road, Kildaire Farm Road, Walnut Street, and Chapel Hill Road. Policy objectives should be tailored to the particular needs of a corridor, and might include (for example) one or more of the following: • Encourage reinvestment in properties, including building renovations and/or re- purposing, and improvements to landscaping. • Encourage and facilitate new infill development and redevelopment of under- performing or distressed corridor properties. • Capitalize on corridor location and visibility, access to transit and roadway connections, and/or access to adjacent neighborhoods, employment, or amenities. • Strengthen the visual appeal of the corridor. • Prevent decline in housing or nonresidential uses along the corridor. • Recognizing that land and redevelopment costs may be higher along these corridors than elsewhere in Cary, another objective of this policy is to support an increase in development intensity – compared to preexisting or adjacent development – when necessary for project viability, especially for redevelopment projects. However, such development should also be designed in a manner that complements surrounding properties. • Consider development of Special Planning Areas for these corridors when updating the Cary Community Plan, with the Kildaire Farm Road corridor as a priority. 88