The proposed Overlook office building situated on Veterans Parkway near Sandy Creek Road in Fayetteville is off the table for good. Developer Jimmy Pace sold the one-acre property to the emerging, 234-acre Pinewood Forrest development which surrounds it.
Pace on Jan. 18 said he sold the property to Pinewood Forrest after his purchase of the property from previous owner Tom Lamb.
The sale was “the conclusion to the saga of the story,” Pace said, adding that he had “worked on several avenues and options.”
Pace said he received $750,000 for the .94-acre property.
“I feel relieved that I’m away from it, but it’s also bittersweet because it was a good opportunity to develop it as an office. I felt like they would fight me forever, and I decided it was best to sell it,” Pace said.
The Overlook proposal was first presented to the Fayetteville Planning and Zoning Commission in May and had been a topic of discussion at several meetings that followed, and was on the agenda at one City Council meeting.
Pinewood Forrest representatives at some of the meetings stated opposition to the development.
Pinewood Forrest is expected to be home to 1,300 residences, two hotels, the Piedmont Fayette Wellness Center and a host of office and retail offerings.