Park West Village keeps on rolling

aramos@newsobserver.comJune 28, 2013 

  • Another new store

    Walmart Neighborhood Market opened Wednesday at 3560 Davis Drive in Morrisville.

    The store is the second of its kind in North Carolina. The first opened last fall in Cary, and a third will open in another Cary location later this summer.

    The 45,000-square-foot Morrisville store is about one-third the size of a Walmart Supercenter. The market features groceries, a drive-through pharmacy and a digital-photo kiosk.

    About 80 employees have been hired to work at the store.

— Park West Village was expected to be this town’s biggest development, with 100 acres of retail stores, restaurants and residential units.

So far, it’s living up to the hype.

The first phase of Park West Village is complete, and it’s exceeding at least one financial projection: property-tax revenue.

Morrisville officials originally estimated the development would bring about $120,000 in property- tax revenue in 2012. But with only one of four phases finished, the project added more than $213,500 to the town’s coffers last year, according to town records.

“Phase one has been a huge success, and we continue to see strong interest from tenants,” said Sarah Benson, a spokeswoman for Casto, which developed Park West Village. “Retailers and restaurants recognized there was a void in the marketplace and have been able to capitalize on the area’s great demographics.”

As part of that first phase, 98 percent of the 350,000 square feet of retail space is occupied, Benson said.

Current tenants include Target, Stone Theatres, Chili’s, Buffalo Wild Wings, Buy Buy Baby, Travinia Italian Kitchen and Gander Mountain.

The remaining phases of Park West Village include about 250,000 square feet of retail space More than half of that space – 65 percent – has already been pre-leased, Benson said.

Casto recently announced new stores that are moving in: Ulta Beauty,Chico’s, White House/Black Market and Soma Intimates. All plan to open in the spring of 2014.

“We love the fact that phase three of Park West Village is proving to be a very fashion-forward portion of the shopping center,” Shannon Dixon, regional executive vice president of Casto, said in a statement.

Now, construction of residential units is underway. Wood Partners is leasing 255 apartment homes in The Bristol.

Casto also plans to add 75 residential units and 40,000 square street of office space, which will available in 2015. That area of the development is expected to have a “main street” feel.

Ramos: 919-460-2609

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