A new mixed-use development with Lowes Foods serving as its “premier grocery anchor” is coming to Fuquay-Varina, according to a Tuesday release from MPV Properties and Proffitt Dixon Partners.
The two Charlotte-based firms announced the development will be “strategically located at the southeast corner of Purfoy Road and Old Honeycutt Road, with excellent access to East Academy Street, Judd Parkway, and (U.S.) Highway 401.”
The proposed development is about 5 miles from the new Serenity Homes community in Northern Harnett County and Fuquay-Varina.
“Academy Village is designed to serve one of North Carolina’s fastest-growing areas with a dynamic blend of residential, retail and commercial offerings,” the release states. “Academy Village is designed to be a walkable, Class-A community that integrates residential, retail and lifestyle components. A major highlight of the center will be Lowes Foods, which has signed a lease to open a new 52,000 SF (square foot) grocery store.”
“MPV will lead the commercial development, including the grocery store and surrounding retail spaces,” the release stated. “Proffitt Dixon Partners will develop the residential portions, which will include approximately 300 Class-A apartments and 54 luxury townhomes.”
The project’s pedestrian-friendly design is envisioned to foster a “live-shop-play environment, with seamless connectivity between residential and commercial uses.”
Traffic signals will be coming to the new East Academy Street’s intersections with Purfoy and Old Honeycutt roads and to the intersection of Purfoy and Old Honeycutt roads to accommodate better access to the new development.
“Academy Village represents our commitment to creating vibrant, integrated communities that meet the evolving needs of residents and businesses alike,” said George Macon, partner at MPV Properties. “We are excited to bring this vision to life alongside Proffitt Dixon Partners, a best-in-class multifamily developer.”
“The demand for high-quality, well-located multifamily housing remains strong in the Triangle region,” added Wyatt Dixon, a co-founding partner at Proffitt Dixon Partners. “Academy Village’s thoughtful design, premier location, and commercial synergies will create a best-in-class destination for Fuquay-Varina.”
“Site construction is set to begin in mid-2025, with the Lowes Foods store scheduled to open in 2027. Apartment construction will commence in late 2025 with first deliveries anticipated by early 2027. With strong market fundamentals, high barriers to entry, and limited competitive supply in southern Wake County, Academy Village is positioned to become a leading destination for residents and retailers alike,” the release states.
For commercial leasing opportunities, contact Robbie Adams or Joey Morganthall with MPV Properties. For multifamily and townhome inquiries, contact Casey Gebhardt with Proffitt Dixon Partners.
Lowes Foods was founded in 1954 and employs nearly 9,000 people operating more than 80 full-service supermarkets in the Carolinas.
Proffitt Dixon Partners is a Charlotte-based investment and development firm focused on Class-A multifamily, mixed-use and self-storage assets. It was founded in 2010 by Wyatt Dixon and Stuart Proffitt.
MPV Properties is one of the Charlotte area’s leading commercial real estate firms specializing in development, brokerage and property management services. It specializes in a wide array of property types including land, retail, commercial, office/medical, mixed-use and multi-family.
Lowes Foods coming to anchor new village in FV | News | mydailyrecord.com