The new development, named “The Canopy at Fenton”, will be located at Fenton, an upcoming 69-acre mixed-use development in Cary, North Carolina.

The six-storey, Class-A multifamily community features a variety of studio, one-, two- and three-bedroom floorplans at market rates.

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The development will also include four loft-style units on the ground floor. It will be one of the first new developments in Cary to integrate multifamily above retail and dining, creating a dense, urban street environment.

Located near Wegmans supermarket and the residents will have access to a multi-storey fitness centre, co-working lounge, club room, elevated pool deck and five common terraces that overlook the shops and eateries of Fenton.

The site work at Fenton is underway while the vertical construction is set to commence this year.

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The first phase of the development will comprise around 345,000ft2 of shops, restaurants and entertainment, 170,000ft2 of office space and a 175-key boutique hotel and multifamily residences.

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Hines director Paul Zarian said: “Named for its numerous outdoor patios overlooking Fenton’s energizing streetscape, The Canopy at Fenton will introduce a walkable, cosmopolitan living experience to the heart of the Triangle.

“Whether meeting friends for dinner at one of Fenton’s chef-driven restaurants, enjoying a fitness class on one of the greenspaces, walking to work at the office buildings across Fenton Main Street or simply enjoying views from their homes, residents of The Canopy will be able to participate in all that Fenton has to offer.”

Furthermore, the firm said that the leasing at The Canopy at Fenton is estimated to commence in the spring of 2022.

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Hines announces plans for a new luxury multifamily community in US. (Credit: Hines.)