Master Development
Fayetteville, NC Master Development
Fayetteville, NC
In Progress
The planned private development includes:
Redevelopment of the historic Prince Charles into 60 apartments above retail
(Delivered 2019)
Purchase of the 45,000 SF Festival Park Plaza office building to the north of the stadium
(April 2018)
$17M parking garage
(Delivered 2020)
Stadium View Residential Tower & Hyatt Studios Hotel above the parking garage
(Estimated Q3 2026 delivery)
1st & Main is a development partner and owner in the $115M Hay Street Master Development in downtown Fayetteville, NC. 1st & Main began working with the City of Fayetteville in 2015 with the purpose of maximizing the private development potential of a 10 acre site in downtown. The team realized they needed to attract an anchor amenity to this site in order to support the absorption and market premiums desired.
During this time, the City was considering building a new baseball stadium on a site disconnected from downtown. This site was challenging and did not leverage any private development potential due to its location. Realizing the potential of shifting the location of this stadium to their site, our team master planned the downtown site integrating the stadium and pitched it to the City Council in June 2016. Within three weeks, City Council elected to proceed with the stadium in the new location. Known today as the Hay Street Master Development, the project connects the stadium with the vibrancy of downtown, existing parking, corporate presence, and provides significant opportunities for surrounding private development.
The Hay Street Master Development is a mixed-use development representing over $75M of private development surrounding the $40M City-financed minor league baseball stadium and public plaza in downtown Fayetteville, NC. The Houston Astros Class A Advanced team will begin playing in the new stadium beginning in April 2019.