PITTSBORO – Developers showcased on Tuesday morning a 136-acre development worth $350 million just north of Pittsboro that they say will serve as the “commercial gateway” to the massive Chatham Park development.
Named “Mosaic,” the project is the brainchild of Eco Group, which is a collaboration between business owners Kirk Bradley of Sanford-based Lee-Moore Capital Company and John Fugo of Durham-based Montgomery Carolina LLC. Construction began in August.
In addition to a hotel and residential units, the complex will include what the developers call “technical and creative” office space.
The developers promise “An entertainment and lifestyle destination alive with experience and stocked with interaction. A welcoming community with sustainable design, inventive programming and natural environs,” according to the Mosaic website.
Several tenants are already committed to the project, and the developers plan to Mosaic next year.
A rendering of an office building provided by Eco Group.
Already commited are:
- Town Hall Burger + Beer (2,500 sq. ft. in Building I)
- People’s Coffee (1,500 sq. ft. in Building F)
- Aveda Day Spa and Salon (6,000 sq. ft. free-standing Building DD)
- UNC Urgent Care (7,500 sq. ft. in Building B)
“Mmsaic 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,” Bradley said in the announcement.
“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.”
Mosaic is planned in phases with the first scheduled to be completed by 2023, covering 44 acres and representing an inestment of $180 million.
The developers are labeling it an “entertainment and lifestyle destination.”
Mosaic is near Chatham Park which will cover more than 7,000 acres.
Chatham Park will cost “over $15 billion,” according to its backers. “This includes infrastructure costs that will be approximately $1.8 billion (not including land value) over 35 years, with operation costs of $250 million over that same time frame,” they added. “Chatham Park will pay for construction, water lines, infrastructure, etc., for the development. No tax dollars will be directly used to help build the development.”
Construction is already underway at the Mosaic. Photo courtesy Eco Group.
According to the developers, Mosaic will include:
- 200,000+ sq. ft. of local and regional shops, restaurants and services including a micro-brewery and chef-driven and fast casual dining
- a 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
Eco Group, which was created in 2009, is involved in several projects across the Triangle.
