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CARY, NC-The Arboretum project isn’t dead. It’s just moving to a new leader. After four years of planning, Rhode Island developer Churchill & Banks is turning over the lead development role of the $30 million, 19-acre, 300,000-sf retail venture to Atlanta-based Cousins Properties. Site preparation is complete and the first phase of construction is under way just west of Raleigh, NC, 150 northeast of Downtown Charlotte.

The project is being developed according to C&B’s original plans. Churchill & Banks remains as a co-developer. The Arboretumcomprises a mix of office space, restaurants, retail shops, meeting facilities, condominiums and a 320-room hotel.

The development was halted after C&B couldn’t find a hotel developer for the site. Cousins became involved in The Aboretum after working for more than a year with Churchill. Site preparation has been completed and the first phase of construction is under way.

For related news, click on:Pru-Cousins JV Buys 90%-Leased One Georgia Center for $92 Per SF

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