$350 Million Master Planned, Mixed-Use Development Underway in Metro Raleigh-Durham
MOSAIC to Serve as Commercial Gateway to Chatham Park
RALEIGH/DURHAM, N.C. – Eco Group, a joint venture of Kirk Bradley of Lee-Moore Capital Company and John Fugo of Montgomery, officially launches the construction of MOSAIC, a 136-acre, $350 million mixed-use development in the heart of Chatham County. When completed, MOSAIC will serve as the commercial gateway to Chatham Park, a 7,100-acre live-work-learn-play community currently under development in Pittsboro, N.C. Phase I of MOSAIC, a 44-acre, $180 million entertainment and lifestyle destination, is expected to be complete in 2023.
To commemorate the development vision becoming reality, hundreds of community members joined MOSAIC at an onsite reception featuring Northwood High School’s a cappella group, Pitch Please, and Tommy Edwards and The Bluegrass Experience. The following community and business leaders attended and shared comments:
§ The Honorable Cindy Perry, Mayor, City of Pittsboro
§ Dr. Derrick D. Jordan, Superintendent, Chatham County Schools
§ Mike Dasher, Chairperson, Chatham County Commissioners
§ The Honorable Robert T. Reives, State House of Representatives, District 54, Deputy Democratic Leader
§ Tim Smith, Owner, Preston Development; Developer, Chatham Park
§ Julian “Bubba” Rawl, Owner, Preston Development; Developer, Chatham Park
§ Kirk Bradley, Chairman, President, CEO, Lee-Moore Capital Company; Developer, MOSAIC
“MOSAIC is poised to invigorate residents and patrons alike with a dynamic, vibrant environment that offers shopping, dining, working, learning and living opportunities within a well-designed, purposefully-planned and aesthetically-pleasing destination,” explains Kirk Bradley, co-developer, Eco Group. “Today marks the first of many opportunities for the community to gather at MOSAIC. This destination will soon be alive with experience and interaction, and today’s guests are the first to feel this energy.”
With a number of tenants already in place, the development expects to open its doors to the public in 2020. Local and regional shops, restaurants and services are planned with initial tenants including the fourth location of Town Hall Burger + Beer (2,500 sq. ft. in Building I) and People’s Coffee (1,500 sq. ft. in Building F). Additional service amenities are also expected from tenants such as the Aveda Day Spa and Salon (6,000 sq. ft. free-standing Building DD) and UNC Urgent Care (7,500 sq. ft. in Building B). Urban apartments for lease and high-end condos for purchase in MOSAIC will offer the Chatham County community new living options.
Situated just north of Historic Downtown Pittsboro near the intersection of US Highways 15-501 and 64, the mixed-use development will create a “mosaic” of combined uses including:
§ 200,000+ sq. ft. of local and regional shops, restaurants and services including a micro-brewery and chef-driven and fast casual dining
§ a 114-key flagship hotel; 164 “urban-burb” apartment residences
§ 88,000 sq. ft. of technical and creative office space
§ 10,000 sq. ft. of multi-generational educational space
§ 30,000 sq. ft. of recreational and civic amenities featuring 8-screen, first-run cinema, 350-seat live performance theatre, 100-seat black box theatre, and central green with outdoor stage
§ 25 percent dedicated to open space framing the development with gathering spaces, walking and biking trail, ponds and constructed wetlands
With the phased development of the remaining 92 acres, MOSAIC is slated to be complete by 2025. The 92-acre site across US Highway 15-501 is expected to include a blend of grocery with popular national tenants. When completed, Chatham Park will include 22,000 residences along with 22 million sq. ft. of office, research, retail, educational and community space. Eco Group is working in partnership with Preston Development Company to execute the overall vision for the community.
About Eco Group Formed in 2009 and headquartered in Sanford, N.C., Eco Group is a collaboration between business owners Kirk Bradley of Sanford-based Lee-Moore Capital Company and John Fugo of Durham-based Montgomery Carolina LLC. Eco Group has been involved with multi-family and mixed-use projects. Recent projects include Veranda, a 42,500-sq. ft. non-anchored commercial center in Chapel Hill off US 15-501, and Westpoint at 751, a 17.5-acre mixed-use project in Durham with 33,000 sq. ft. of retail/restaurant, 90,000 sq. ft. of office and 167-key Hyatt Place hotel off I-40. In total, John Fugo and Kirk Bradley of Eco Group have developed over 11 million square feet of retail and commercial properties. For more information on Mosaic, visit mosaicatchathampark.com.