Developer Proposes Large Mixed-Use Project in Cary
The proposed apartment development on East Chatham Street would require rezoning to increase allowed building height.
Updated on Oct. 28, 2026 in Commercial
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Developer Jeff Peterson has proposed a major mixed-use apartment project on a 3.6-acre site along East Chatham Street in Cary. The development plan would require town rezoning approval to exceed the current 45-foot height limit for the four-parcel site.
Why it matters
The proposal aims to transform the local property with a significantly larger building footprint than existing zoning allows. Securing approval to reach a 75-foot height is central to the viability of the planned $100 million development.
The 3.6-acre site is slated for a project expected to cost over $100 million and feature up to 400 apartment units. Plans also include 492 parking spaces and roughly 13,000 to 14,000 square feet of ground-floor retail space.
The players
Jeff Peterson
Jeff Peterson is the real estate developer leading the proposed mixed-use apartment project on East Chatham Street.
Cary Development Review Committee
The Cary Development Review Committee is a local town agency responsible for evaluating proposed development projects for compliance with municipal standards.
The details
Developer Jeff Peterson spent $7.5 million in September 2026 to assemble the parcels at 603, 605, 607, and 611 E. Chatham St. The project would require demolishing existing structures to make way for the new high-density development.
Timeline
In September 2026, Jeff Peterson completed the purchase of the four land parcels.
The developer is scheduled to meet with the Cary Development Review Committee on Nov. 4, 2026.
Culture Shift
This project reflects a broader trend of densification within suburban town centers as developers seek Town Center High Intensity Mixed Use-Conditional Use zoning to maximize land utility. The proposal aligns with shifts toward high-density living compared to traditional low-rise suburban layouts.
Residents in the area may see the demolition of existing structures and eventual construction activity at the East Chatham Street site. The proposed 75-foot building height could significantly alter the visual character of the immediate neighborhood.
The takeaway
The project demonstrates the ongoing pressure to redevelop smaller parcels into high-density housing in growing towns. Prospective stakeholders should monitor upcoming town meetings to track how height variances and rezoning requests impact the local landscape.
What happens next
The developer is scheduled to meet with the Cary Development Review Committee on Nov. 4, 2026.
Further reading
Learn more about local growth trends in Cary Commercial.
Source note: This article includes information reported by Durham Herald Sun.
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