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$800 Million Mosaic to Bring Unprecedented Development to Greater Raleigh

Eco Group's Master-Planned Mixed-Use Project in Pittsboro to Include +200,000 SF of Retail, 120-Key Hotel, 210 Apts. and 88,000 SF of Office Space
October 13, 2017
Durham-based Eco Group will break ground next year on the first phase of an ambitious new $800 million mixed-use development that will serve as the commercial gateway to the 7,100-acre Chatham Park residential community currently underway west of Raleigh in Pittsboro, NC.

Located immediately north of downtown Pittsboro near the US Highway 15-501/US Route 64 interchange, the planned Mosaic development will include more than 200,000 square feet of retail and restaurant space, a 120-key flagship hotel, a 210-unit apartment complex plus 125 transitional apartment homes, and 88,000 square feet of technical and creative office space.

The project will also include 30,000 square feet of recreational space to include performing arts stages and a two-acre park with amphitheater, as well as 15,000 square feet of educational space.

"With Chatham Park delivering its first homes in spring 2019, Mosaic will offer the ideal amenity hub for not only Chatham Park homeowners, but also the whole of Chatham County," noted Kirk Bradley, co-developer, Eco Group. "We’re seeking to create an 'urban-burb' in Mosaic - a walkable urban experience situated in a suburban environment. This project is truly a 'mosaic' of combined elements-old, new and always changing."

Mosaic is expected to be fully built out by 2025. Phase I of the project, a $140 million entertainment and lifestyle located on 44 acres, will break ground in 2018 with the 92-acre, $250 million Phase II and 187-acre, $400 million Phase III to commence by 2020.

The development will serve Chatham Park, a master-planned community zoned for 22,000 residences in addition to 22 million square feet of office, research, retail, educational and community space.

A joint venture launched nearly a decade ago between John Fugo of Montgomery and Kirk Bradley of Lee-Moore Capital Co., Eco Group is working in tandem with Preston Development Co. in the development of Mosaic. Montgomery will also serve as the project's contractor.

Durham-based Finley Design is the master architect for Mosaic, while Raleigh-based CE Group is the chief project engineer. Urban Design Associates out of Pittsburgh provided initial master planning direction. Kane Residential will handle property management on behalf of ownership.
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