Growing Up: What’s New in Raleigh Development

In Buzz, November 2018 by Raleigh MagazineLeave a Comment

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Five Horizons Development has proposed building 1 million square feet of office space, 300,00 square feet of retail, 382 hotel rooms and 975 apartments south of Western Boulevard, between South Saunders and South Dawson Streets. The three-phase project will include a 12-story, 18-story and 20-story building, but first, the developer must persuade the city council to rezone the property to allow for the additional height.

Kane Realty Corp. wants to build a 20-story tower on the parcel located just across the railroad tracks from The Dillon. If the six acres (two blocks) on Cabarrus Street near Union Station is rezoned, Kane will buy it from construction company Clancy & Theys. The project would consist of three sections, with separate buildings on each. Plans are subject to change, but the first section near the railroad tracks would include the 20-story tower with 350,000 square feet of office space, 500 residential units and 50,000 of retail space.

Heritage Properties will build Tower II next to the One Glenwood office tower at the corner of Glenwood and Hillsborough Streets. The plan is to create a hub of office space and entertainment, with retail and restaurants. Renderings show the new 10-story office building with a courtyard in between the towers with a concert stage, turf lawn for yoga and a coffee shop created in a shipping container. Construction is set to begin in the second quarter of next year.

Plans for the second phase of the Peace & West development known as Smokey Hollow are moving ahead. Kane Realty Corp. and Williams Realty & Building Co. are planning a 10-story office tower, plus 280 residential units with 40,000 square feet of ground floor restaurant and retail space with a courtyard. Construction is set to begin summer 2019.

Summit Hospitality Group purchased land at the corner of Glenwood Avenue and Willard Place for a new, seven-story AC Hotel with 190 rooms.

The Raymond Group from Wisconsin is buying property next to Nash Square, with plans to build a nine-story hotel at the corner of West Martin and South Dawson Streets.

The former Rex Hospital property on Wade Avenue is going to be sold for development. The 16-acre site is currently home to the state’s Employment Security Commission, which will have to move out first. The land is located on the edge of the Hayes Barton neighborhood, within walking distance of Cameron Village.

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