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Public documents identify Fay Hay Master Venture LLC, a subsidiary of Lansing Melbourne Group, as the firm behind plan for 124-unit apartment building and 119-room hotel; Public hearing set for tonight

FAYETTEVILLE — A Florida development firm is proposing to finally complete the long-stalled tower atop the Hay Street Parking Deck, a project that would create the tallest building in Fayetteville and would require a $5.7 million loan from the city, according to a proposed contract released ahead of a City Council public hearing Monday.

The contract identifies the developer as Fay Hay Master Venture LLC, a subsidiary of the Lansing Melbourne Group of Fort Lauderdale, Florida. Public records indicate the new developer was assigned the project rights as part of a settlement to a lawsuit between the city and the previous developers.

The detailed plan calls for a seven-story apartment building with 124 units and a six-story hotel with 119 rooms to be built atop the existing five-story deck next to Segra Stadium. The resulting 12-story, 256-foot structure would become the tallest building in the city.

According to council members familiar with the vendor review process, independent evaluators assessed the Lansing Melbourne Group’s past projects prior to the contract proposal. Peter Flotz, CEO of Lansing Melbourne Group, has publicly expressed confidence in the Fayetteville market, citing the stable military presence and unmet demand for downtown housing and hotel rooms.

If the council approves the agreement, the developer would be required to secure financing by mid-May 2026, break ground by June 2026, and complete construction by May 2028. The city would retain oversight of the architectural design and have approval authority throughout the process.

A public hearing on the proposed contract will be held during the regular City Council meeting at 6:30 p.m. Monday in City Hall Council Chambers. For ongoing coverage of this development and other city business, visit ccnc.news.