The Fayetteville City Council will hold a public hearing Monday to consider a proposal from a Florida development company to revive long-stalled plans for a seven-story tower atop the Hay Street Parking Deck.
Under the proposed contract, construction would break ground in June 2026 and finish by May 2028. If built as planned, the final structure in downtown Fayetteville would have a seven-story apartment building with 124 units and a six-story hotel with 119 rooms, according to the contract reviewed by CityView. These building components would be added to the existing five-story parking deck next to Segra Stadium and across the street from the Fayetteville Police Department.
The new developer is Fay Hay Master Venture LLC, which the contract identifies as a subsidiary of Lansing Melbourne Group of Fort Lauderdale, Florida. Fay Hay Master Venture was incorporated on Oct. 3, according to records with the North Carolina Secretary of State.
The contract says the city could lend the developer up to $5.7 million to complete the project, including the long-awaited installation of an elevator.
Council Member Mario Benevente told CityView that the city was introduced to Fay Hay Master Venture by the previous developer, Hay Street Development Pad LLC and PCH Development Co. LLC.
The city was engaged in a lawsuit with Hay Street Development Pad LLC and PCH Development Co. LLC, claiming breach of contract to build the tower—at first a hotel and office building, later an apartment building—and complete the parking garage, until the suit was dismissed in September.
The council had independent evaluators look into Fay Hay Master Venturer’s past projects and they “came back with a clean bill of health,” Benevente said.
The developer, Fay Hay Master Venture LLC, is expected to attend the public hearing during the regular council meeting at 6:30 p.m. Monday, where the public can weigh in on the agreement, which is not yet finalized.
A project that keeps changing
The Stadium View project has evolved significantly since it was first proposed nearly a decade ago. Original plans called for two buildings atop the parking garage: a five-story hotel and a seven-story office building. Developers later scrapped that concept in favor of a 212-unit apartment complex.
The parking deck itself, which is owned by the city and was completed in 2020, remains without an elevator—a long-standing frustration for residents and downtown patrons.
The final structure—the parking deck plus the tower on top—would have 12 floors. At 256 feet and seven inches, it would be the city’s tallest building. The structure would eclipse the recently expanded Cape Fear Valley Medical Center, at 161 feet, 3 inches, and the nearby Dogwood State Bank on Green Street, at 158 feet.
Legal entanglements and a new path forward
The city filed a lawsuit in July 2024 against Hay Street Development Pad LLC and PCH Development Co. LLC, the original developers. Secretary of State records show Hay Street Development Pad LLC and affiliated entities were administratively dissolved in March 2023.
In June of this year, the city filed a motion seeking a continuance, stating that both parties had been “working collaboratively over the course of the past several months to resolve the issues in this action.” The motion noted that the defendants had agreed to assign their interests in the downtown development to a third party—clearing the way for a new developer to take over.
The assignment, according to the motion, would be completed within about 90 days from Sept. 17 and “involves a series of complex business transactions involving multiple parties across various states.”
The new contract for the Stadium View project formalizes that handoff from the original developers to Fay Hay Master Venture LLC.
In September, the city voluntarily dismissed the lawsuit without prejudice, meaning it reserves the right to refile the case in the future if necessary.
What’s next
Peter Flotz, CEO of Lansing Melbourne Group, told CityView his team has spent months reviewing the plans and remains “bullish on Fayetteville in general.” He said the company sees opportunity in the city’s stable military presence and the unmet demand for downtown housing and hotel rooms.
“Our role here will be to bring attention to the positives in this market,” Flotz said, “the stability of the military presence, and the holes in the supply of new apartments and hotel rooms in the downtown.”
He added that Lansing Melbourne Group is “a true believer in the downtowns of North Carolina,” especially in the potential of sports and entertainment venues to drive growth.
“We’re humbled by the faith being placed in us as stewards for this great public investment,” Flotz said, “and promise our best efforts to build your vision.”
According to an email from the city attorney to council members, the council has directed staff to finalize the deal by December 31.
If approved, the developer must secure financing by mid-May 2026, break ground by mid-June 2026, and complete construction by mid-May 2028, according to the contract.
The city will oversee architectural design and have approval authority and the developer is required to hold monthly meetings with city staff and consultants throughout the design and construction process, with detailed minutes documenting progress and proposed changes.
Government reporter Rachel Heimann Mercader can be reached at rheimann@cityviewnc.com.
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