Redevelopment Plan in Place for Market Square CenterFebruary 28, 2012REDEVELOPMENT PLAN IN PLACE FOR MARKET SQUARE CENTER
Nearly 50 Jobs Being Added in Market Square National Historic District
The Fayetteville-Cumberland Chamber of Commerce is pleased to announce the redevelopment of Market Square Center at 105-109 Hay Street. The project consists of approximately 21,000 square feet of office institutional and retail space in the Market Square National Historic District in the central business district of uptown Fayetteville. The estimated value of the project is $2.5 to 3 million dollars.
The overall project will generate approximately 50 additional jobs in the uptown area. It includes a long-term lease with the United States General Service Administration on the first floor and expressed interest from a major institutional user for the second floor. The project is the culmination of more than 20 years of assembling, coordinating and marketing the land and buildings comprising the project.
"The continued revitalization and growth of downtown Fayetteville is a significant community goal and aids the continued progression of our local economy," Doug Peters, President and CEO of the Chamber of Commerce said. "The preservation, restoration and renovation of 107 and 109 Hay Street have been long delayed due to the conditions of the structures and the need for credit-worthy users to justify the costs of this restoration. This project includes that required long term financial stability. Market Square Center will create a strong and positive influence for quality of life and business in the downtown area."
The owner of Market Square Center is Cedar Creek Crossing West, LLC. The architects are Shuler Ferris and Lindstrom. The General Contractor is Metrocon, LLC and the leasing and management by Tyson Commercial Properties, LLC. Estimated completion date is December 15, 2012."
About the Chamber
The Fayetteville-Cumberland County Chamber of Commerce is the area's chief business advocacy organization and strives to improve quality of life by creating wealth, jobs and investment in our community. The Chamber, through its business partners, the City of Fayetteville and Cumberland County, coordinates the community's economic development efforts as well as provides a number of opportunities to grow local businesses.Contact:Brandon Plotnick, Marketing and Communications Coordinatorbplotnick@fayettevillencchamber.org, (910) 433-6766