The big, new subdivision that couldn’t

Wendell Falls was in the right place but at the wrong time. Wendell is just minutes from Raleigh along the new 64 by-pass and for now, that’s all it will be.

Since late May, foreclosure notices have been trickling through the Wake County legal notification system for the 30-plus parcels that Raleigh-based Mercury Development and its top investor, Burroughs & Chapin Co. of Myrtle Beach, S.C., purchased in 2006 near Lake Myra in Wendell. Read more: Wendell Falls being sold in pieces to satisfy $67M debt – Triangle Business Journal

The new development was to eventually add about 4,000 rooftops and some 450,000 Sq Ft in new commercial space. Now Wells Fargo is reclaiming the stalled development 1 parcel at a time.

The good new is that the hunt is on for a new developer. There has already been a lot of infrastructure completed so the expectation is that it’s only a matter of time before the vision becomes reality.

Wendell Falls is just minutes from downtown Raleigh

Wendell Falls is just minutes from downtown Raleigh

You can also read more about Wendell Falls on the Wendell Chamber website.