300 Hay Project Proves To Boon for Downtown Revitalization
downtown revitalization, fayetteville, real estate, shopping,
Downtown Fayetteville’s thriving mix of shopping, parks, arts and entertainment makes the historic district a popular draw for residents and tourists. Soon, the district will serve yet another role for more than 100 of the city’s residents: home. 300 Hay, an upscale mixed-use development on Hay Street, will bring the conveniences of downtown living to the heart of this recently revitalized area.
“Introducing residential units is an important step in the continued redevelopment of downtown,” says Fayetteville Mayor Anthony Chavonne. “This increase in residents will result in additional growth in ancillary services like restaurants, grocery stores and drug stores.”
Chavonne says the development was identified as one of three impact projects for the downtown area in 2003. Construction on 300 Hay’s three buildings began in 2006 after the city hired Atlas Resource Management Inc. to oversee the project.
Since then, the city has spent nearly $2 million demolishing buildings, preparing the site and putting in sidewalks and a parking lot to accommodate the $11.5 million development. 300 Hay’s 41 units include five penthouses, 20 townhouses and 16 condominiums surrounded by trees, ample parking and a fountain. Garages, concierge service and an exercise room also are included. The homes have sold quicker than expected, with residents moving in by late 2008.
Chavonne, who currently resides in a historic neighborhood not far from downtown, is among 300 Hay’s future tenants eager to call Hay Street home.
“Our children recently left for college, and we had the opportunity to downsize,” says the Fayetteville native. “Most importantly our decision represents a commitment to our downtown. There is a great sense of excitement in the downtown area and we can’t wait to be a part of it.”
Story by Melanie Hill
Photo by Ian Curcio
