Morgan Property Group announced the withdrawal of its rezoning case at Falls of Neuse and Dunn Road.
“This was a difficult decision,” Trey Morgan, President of Morgan Property Group, stated on Friday. “We have worked diligently over the past two years to bring a high quality development to this community which balanced legitimate concerns about neighborhood impacts with smart development practices. We very much appreciate those neighbors, staff members, and city leaders who engaged us in a positive, constructive manner.”
“We negotiated both a reduction of the overall square footage of the project and a reduction in the anchor space, both concessions which were facilitated by the Mayor. As demonstrated by our traffic studies, the compromise plan would produce less traffic during morning and evening rush hour as compared to a project that could be developed in the existing zoning.”
“Nevertheless, an increasingly bitter and hostile climate has made it impossible to properly engage the community at large and, in our view, for City Council to weigh the merits of the case. As we have said from the beginning of the process, we have never wanted to pit neighbor against neighbor. We believe it truly unfortunate that special interests have dominated the process from the beginning, and that our project was slandered from the initial stages.”
“Unfortunately, the residents of North Raleigh will miss out on a premier grocery anchored neighborhood center, and will have to live with continued uncertainty about the future of these parcels. We will continue to evaluate our options under the law in terms of this project, and hope our development can again be considered in the future.”
For over thirty-eight years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.