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Alston Yards Development (23-REZ-01)
Alston Yards is a mixed use development in the Alston Destination Center that is located on approximately 46 acres at the intersection of NC 55 and O’Kelly Chapel Road.
Background
On February 6, 2025, the Council rezoned 46.29 acres located in the northwestern quadrant of the intersection of N.C. 55 and O’Kelly Chapel Road to Mixed Use District (MXD), Mixed Use Overlay District, and Watershed Protection Overlay District (Jordan Lake Subdistrict).
Development Program
The rezoning included a Preliminary Development Plan (PDP) that proposes to facilitate vertical mixed-use development consisting of
- Office and Institutional Uses (100,000 – 400,000 square feet)
- Residential Multi-Family Uses (525 – 815 dwelling units)
- Hotel (100 – 380 rooms)
- Commercial (45,000 – 55,000 square feet)
The development will also include 25,000 square feet of community gathering space, over seven acres of open space, and approximately 40,000 square feet of developable land for a Town park along the development’s main street.
Rezoning Commitments
The Alston Yards PDP includes several additional commitments:
- Structured Parking
- EV Charging Ports
- Affordable Housing
- Pedestrian Streetscape & Street Trees
- Increased Setbacks (NC 55)
- Design Guidebook
Additional details regarding this rezoning are available in the staff report that was provided to Council on February 6, 2025.
Land Swap
Public Park
The land swap was approved by Council on April 24, 2025 as authorized by state law (NCGS 160A-271). The land swap will be implemented immediately following the approval of the development plan for the initial phase of the development. Additional details are available in the staff report that was provided to Council on April 24, 2025.
Development Agreement
The developer has expressed interest in forming a development agreement with Cary to help make the Alston Yards project more financially viable (due to the significant amount of structured parking and street/greenway infrastructure) while also providing additional improvements and benefits to Cary that would not be provided by the rezoning alone. For example, additional greenway connections and additional O’Kelly Chapel Road improvements could potentially be achieved. A development agreement would also provide a format to manage the implementation of the land swap and the construction of the proposed public park. Cary staff and the development team continue to explore the possibility of a development agreement with the applicant.