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The Creamery plans have been filed. There will be a 33-story residential tower and a 20 story parking deck/office building in the back.  The historical creamery building will stay.    https:

The 12-story Madison mixed-use tower is also expected to go ahead soon with a completion date of 2024.  

RUSBUS is scheduled to start construction next year and will be 30 stories, equivalent to a 35 story tower due to the massive transit station base. 

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They should just go ahead and level the McDonalds, too.

I wonder how much longer the suburban style Starbucks, McDonalds and other businesses will linger after Kane builds his urban design further down Peace St.  

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Driving down Peace today, I was wondering why there hasn't been a big redevelopment push along there yet. But then again, despite the suburban character of the strip, the businesses all do well, Seven Even (it'll never be Peace St Market to me), Sherwin Williams, Starbucks, Subway, Sahara, Mellow, Mojos, Starbucks, Blue Flame, Fallons....I wish this was all retail with residential above, but other than the vacant lot at Boylan/Peace and maybe the rotating space that currently houses the wing place, I'm thinking most of the stretch stays like it is for a long time....unless the streetscape work does a Hillsborough street to it, and even successful businesses get forced out when some neo-urban cache sets in.... 

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Yeah, I don't wish for all of those businesses to go away.  As much as I'd like to see urban development come along while maintaining the current businesses, we all know that's impossible with the exception of keeping a Starbucks in the area.  No, Mellow would be replaced by a Pieology, Mojos by a Whalburger, and so on.  

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1 hour ago, Tenkai said:

Looks like someone is planning on turning Askew-Taylor in to a bar, converting the driveway on the left of the building in to a deck for outdoor seating.

Not a great trade, Askew Taylor for a bar...but at least the building is being kept in some form. It was quite a time capsule with childrens wallpaper still in the upstairs bedrooms from what I guess would be at least the 1940's maybe earlier (house in on the 1914 Sanborn). While not in Smokey Hollow proper, it certainly is a contemporary structure and likely had railroad folks living in it with the Southern Railway facilities being right down the hill. Abandoned logging communities in the foothills and mountains still have buildings like it, but this is probably your last one in Raleigh that has received no updates in all those years. 

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  • 4 weeks later...

Rezoning application submitted for 615 W Peace St. (corner of Peace and Boylan).  Developer wants to build a 5 story "boutique" hotel.   Application had meeting minutes that mention the Paramount residents are against the height.  Insert eyeroll here.

Also, for sale sign at tiny lot at 714 W Peace St.

And in one of the N&O articles about the streetscape project, it mentioned the Fallons owners are considering selling their lot for redevelopment.

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Paramount is complaining huh? Do they know how much wrangling over the height of their building there was? How about their HOA try and lease the tiny retail space the developers included as a condition of the height approval? How about a five story building would hide their parking deck a bit better? 

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  • 4 weeks later...

New 20 story building approved by city now awaiting an anchor tenant at 400 Hillsborough Mixed use building with office space and apartments atop existing parking garage. https://www.bizjournals.com/triangle/news/2017/07/25/new-designs-revealed-for-20-story-hillsborough-st.html?ana=e_me_set1&s=newsletter&ed=2017-07-25&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1500990378&j=78598451

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17 minutes ago, KJHburg said:

New 20 story building approved by city now awaiting an anchor tenant at 400 Hillsborough Mixed use building with office space and apartments atop existing parking garage. https://www.bizjournals.com/triangle/news/2017/07/25/new-designs-revealed-for-20-story-hillsborough-st.html?ana=e_me_set1&s=newsletter&ed=2017-07-25&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1500990378&j=78598451

Can someone move this to this topic... 

 

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6 hours ago, KJHburg said:

New 20 story building approved by city now awaiting an anchor tenant at 400 Hillsborough Mixed use building with office space and apartments atop existing parking garage. https://www.bizjournals.com/triangle/news/2017/07/25/new-designs-revealed-for-20-story-hillsborough-st.html?ana=e_me_set1&s=newsletter&ed=2017-07-25&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1500990378&j=78598451

You see...this is the difference between Kane and Sandreuter. 

"The 400H team is in place: architect, civil engineer, general contractor and major subcontractors. We know our design and costs. The project has all necessary entitlements. And we own the land,” he says. “With this information, we can now advance office preleasing and financing discussions to the next level.”

Sandreuter estimates the project will need a prelease commitment of about 40,000 square feet of office space to be able to secure the rest of his equity and debt funding to break ground on the building. If preleasing goals are met, he anticipates construction could begin as soon as February."

Kane can build on spec. No preleasing required. Sandreuter is only a step past dog and pony show until someone says they like the pony and offers to pay for it. 

Anybody that owns a lot downtown could pay for a rendering and be all like, I'm developing this here thing if only somebody would promise to come rent it from me! Sure he went further and got a plan approved and some design elements done but it still drives me bananas how all this credit is given to what is as of now, nothing. 

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36 minutes ago, Jones_ said:

You see...this is the difference between Kane and Sandreuter. 

"The 400H team is in place: architect, civil engineer, general contractor and major subcontractors. We know our design and costs. The project has all necessary entitlements. And we own the land,” he says. “With this information, we can now advance office preleasing and financing discussions to the next level.”

Sandreuter estimates the project will need a prelease commitment of about 40,000 square feet of office space to be able to secure the rest of his equity and debt funding to break ground on the building. If preleasing goals are met, he anticipates construction could begin as soon as February."

Kane can build on spec. No preleasing required. Sandreuter is only a step past dog and pony show until someone says they like the pony and offers to pay for it. 

Anybody that owns a lot downtown could pay for a rendering and be all like, I'm developing this here thing if only somebody would promise to come rent it from me! Sure he went further and got a plan approved and some design elements done but it still drives me bananas how all this credit is given to what is as of now, nothing. 

Haven't we been to this show before? Remember the original Edison designs?

 

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  • 3 weeks later...

  • 2 months later...
53 minutes ago, Trent Y said:

I think he meant with all the development happening around Snoopy's. Theres a good chance Snoopys will get pushed out.

Yea I got that.  Just don't think the economics work out for redevelopment there with the small lot size.  And even combining with the site to the north totals only .25 ac.  Easier and more profitable sites all over the place.  

That's why I doubt it, but I guess we'll see.

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42 minutes ago, Justin6882 said:

Ok, so I'm pretty excited about this project. This would be the second AC Hotel in Raleigh, correct? Isn't there one at North Hills?

And the mention of condos on the top two floors is good news. Seems like we might have small condo boom on the way.

Yes this would be the second in Raleigh.

I do think the market is ready for more condos. I'm seeing a lot of interest in condos in my building at the Dawson. As the warehouse district and lower Glenwood continue to get built out, more people will line up to invest in and around these areas.

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Yea I got that.  Just don't think the economics work out for redevelopment there with the small lot size.  And even combining with the site to the north totals only .25 ac.  Easier and more profitable sites all over the place.  
That's why I doubt it, but I guess we'll see.
FMW is pretty active in the neighborhood, and these sort of small-lot buildings are kind of their specialty. Remember the UDO requires no parking for the first 16 units in zones like this.
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