Hines plans big redevelopment of Cary's Waverly Place

• Hines declined to comment on its application, and the process could take many months before it comes before the town council.

Flashback: Hines bought Waverly Place, anchored by a Whole Foods grocery store, for $88 million in 2022.

• The shopping center features an open lawn that is popular for events.

Details: Hines' application calls for adding up to 750 apartments and an additional 30,000 square feet of commercial space.

• Most of the shopping center is excluded from the application. It focuses instead on 6.5 acres of the property, including two parking lots and the CMX CinéBistro.
• In its place, Hines could add buildings between four to seven stories high as well as a parking deck, which would be used to replace any parking removed during construction.

The big picture: Waverly Place joins a long list of shopping malls — both indoor and outdoor — that are being redeveloped to become less dependent on retail and food alone.

• From Durham's Streets at Southpoint to Cary's South Hills, old-school shopping centers are working to add apartments and new amenities to stay active and relevant.