Warehouse District

[ctl]

And the underpass has to be built while the railroad lines remain in service. 

[InitialD]

1 hour ago, ctl said:

And the underpass has to be built while the railroad lines remain in service. 

Charlotte has been doing that at 36th street in NoDa and so far it has taken about 4 years and I think they still aren't done.

[Green_man]

New hotel coming to Southeast corner of Martin/Dawson, across the streets from Nash Sq and Parkside.

 

[RALNATIVE]

10 hours ago, Green_man said:

New hotel coming to Southeast corner of Martin/Dawson, across the streets from Nash Sq and Parkside.

 

Another box with windows. Lovely...

[InitialD]

We have like 5 stalled hotel projects in downtown; as with all of them I'll believe it when I see it going vertical. 

[Spatula]

Wish we could just combine them all into one good tower.

[Jones_]

On 2/1/2019 at 12:14 PM, InitialD said:

We have like 5 stalled hotel projects in downtown; as with all of them I'll believe it when I see it going vertical. 

I'd really like to know more about hotel finances and long term planing etc. They are sitting on these expensive parcels, paying taxes, liquidity tied up and are obviously not in a hurry. Hotels get bought and sold and traded around like baseball cards. What gives? No other industry does any of these to this egregious degree. Are hotels so insanely profitable that they can do this? Is there a wealth of strange financing (foreign perhaps) that just wants a safe place to park its money? It all smells fishy in some way, but for someone with no experience or understanding of the business, I can't say for sure...insight appreciated...

[KJHburg]

Kane 's plans for renovating the Clancy warehouses on Cabarrus.  This will be a great project.  

http://www.kanerealtycorp.com/project/west-cabarrus-warehouses/

 

[RALNATIVE]

Since I'm a property owner in the district, I received a letter the other day from the attorneys for Highwoods indicating that they have purchased the property at 321/327 W.  Hargett St.  and 213 S. Harrington St., and intend to submit a rezoning request to the city  to change from DX-12-SH to DX-40-CU for a potential mixed use development. This means that they are possibly interested in building  something up to 40 stories on that site.

I have not seen any further details on their plans, but will post any info that I receive. This is very good news, because Highwoods is a very credible developer and can deliver something substantial on that site. Let's keep our fingers crossed.

[RALNATIVE]

On 9/3/2020 at 4:47 PM, RALNATIVE said:

Since I'm a property owner in the district, I received a letter the other day from the attorneys for Highwoods indicating that they have purchased the property at 321/327 W.  Hargett St.  and 213 S. Harrington St., and intend to submit a rezoning request to the city  to change from DX-12-SH to DX-40-CU for a potential mixed use development. This means that they are possibly interested in building  something up to 40 stories on that site.

I have not seen any further details on their plans, but will post any info that I receive. This is very good news, because Highwoods is a very credible developer and can deliver something substantial on that site. Let's keep our fingers crossed.

More details on this proposed 40+ story development in the TBJ today:

 

https://www.bizjournals.com/triangle/news/2020/10/28/highwoods-properties-pitches-40-stories-in-raleigh.html

 

[RALNATIVE]

All of these  30+ and 40+ story proposals for downtown are making me wonder what's going on in the background. With the COVID pandemic changing the overall requirements for office space in the corporate world, why would all of these proposals continue to move forward seemingly unaffected.

For a company as experienced as Highwoods in commercial real estate and Class A office development to propose a high rise in this environment, i'm led to believe that a major company is planning a corporate relocation.

[KJHburg]

^^^ I think only 2 maybe 3 will be built and Highwoods is for real and they could pull it off.  Dittos for Kane but they have that affordable housing component to work into their project which makes it more complicated.  Plus the Preferred 121 Fayetteville project has strong backing too.    I think a lot of companies maybe circling downtown Raleigh for space and this is why so many proposals are coming out but it is like an arms races first in the ground with a shovel and backhoe will win. 

[RALNATIVE]

1 hour ago, KJHburg said:

^^^ I think only 2 maybe 3 will be built and Highwoods is for real and they could pull it off.  Dittos for Kane but they have that affordable housing component to work into their project which makes it more complicated.  Plus the Preferred 121 Fayetteville project has strong backing too.    I think a lot of companies maybe circling downtown Raleigh for space and this is why so many proposals are coming out but it is like an arms races first in the ground with a shovel and backhoe will win. 

I think you're right. Highwoods and Kane are solid developers and I put my money on them. If it were Sandreuter or Hatem, i'd be skeptical.

I am baffled though as to why the city keeps pushing affordable housing requirements on developers in prime areas of downtown. It seems to be  a national trend these days and it reeks of politics, as well as a push for social change, more than a sincere attempt to provide truly affordable housing for low income residents. It may please some in the short term, but long term it will lower property values.

[carolina1792]

Nash Hotel delayed until late 2021 at the earliest but not cancelled, according to city economic development officials. Other hotels are delayed as well. 

Edited November 10, 2020 by carolina1792

[RALNATIVE]

On 10/8/2014 at 11:36 PM, RALNATIVE said:

I totally disagree. Because of the proximity to Union Station, and with Citrix also being a catalyst, the entire Warehouse district will see explosive growth over the new several years. Developers will be jumping on any vacant lots, and since properties with large amounts of space are few and far between, developers will be looking to go upwards. We may have a hard time envisioning it now, but that area is slowly transforming and I predict that you will see even more proposals for highrises in that area.

Just as I predicted around 7 years ago,  the planning is happening and expect to see more highrise proposals coming to the warehouse district. I received a letter today from the law firm representing "Cityplat Legends" which seeks to have the property located at 330 W. Hargett St and 119 S. Harrington St rezoned to 40 stories. That is the current site for Legends nightclub.

It appears that Cityplat is a real estate firm, so my guess is that they are trying to rezone the property to 40 stories so that they can flip it for a bigger profit. 

 

[rancenc]

Coming to the Warehouse District.

https://www.prnewswire.com/news-releases/capital-square-announces-groundbreaking-of-320-west-south-street-apartment-tower-in-raleigh-opportunity-zone-301564729.html

[KJHburg]

another short story on that new apartment tower on W South Street.   There was much discussion in an UP thread in Richmond how this Richmond developer is building a 20 story building here in Raleigh rather than Richmond.  I answered this one is not even the tallest that will start this year and there is demand. 

https://www.connectcre.com/stories/capital-square-launches-construction-on-100m-mixed-use-in-raleigh/

[carolina1792]

On 6/15/2022 at 12:21 PM, KJHburg said:

another short story on that new apartment tower on W South Street.   There was much discussion in an UP thread in Richmond how this Richmond developer is building a 20 story building here in Raleigh rather than Richmond.  I answered this one is not even the tallest that will start this year and there is demand. 

https://www.connectcre.com/stories/capital-square-launches-construction-on-100m-mixed-use-in-raleigh/

Sore subject for them. Especially since projects here after getting taller than originally planned instead of truncated. Creamery Resi tower rose 5 stories taller/ office tower by 1  story and so did the RUSBUS resi tower and the soon to be announced dual tower Smoky Hollow 3 project will be taller than originally planned. 

[KJHburg]

1 hour ago, carolina1792 said:

Sore subject for them. Especially since projects here after getting taller than originally planned instead of truncated. Creamery Resi tower rose 5 stories taller/ office tower by 1  story and so did the RUSBUS resi tower and the soon to be announced dual tower Smoky Hollow 3 project will be taller than originally planned. 

so what is the current floor counts on those towers:  the RUSBUS the Creamery apartment tower and SH phase 3?

 

[RALNATIVE]

6 hours ago, carolina1792 said:

Sore subject for them. Especially since projects here after getting taller than originally planned instead of truncated. Creamery Resi tower rose 5 stories taller/ office tower by 1  story and so did the RUSBUS resi tower and the soon to be announced dual tower Smoky Hollow 3 project will be taller than originally planned. 

Very exciting stuff. Smoky Hollow was originally planned as a 40 story tower. Interested to see what the final floor count will be.

 

[nicholas]

5 hours ago, KJHburg said:

so what is the current floor counts on those towers:  the RUSBUS the Creamery apartment tower and SH phase 3?

 

I think the creamery is 37 stories now

[rolly]

On 6/15/2022 at 12:21 PM, KJHburg said:

another short story on that new apartment tower on W South Street.   There was much discussion in an UP thread in Richmond how this Richmond developer is building a 20 story building here in Raleigh rather than Richmond.  I answered this one is not even the tallest that will start this year and there is demand. 

https://www.connectcre.com/stories/capital-square-launches-construction-on-100m-mixed-use-in-raleigh/

Another boxy top but we'll take it.

[carolina1792]

4 hours ago, rolly said:

Another boxy top but we'll take it.

Already under construction. The property is currently being prepped for grading. 

[KJHburg]

New 12 story apartment building to be built across from Kane's Cabarrus project.

""Elmwood Development, based in Durham, is looking to build a 12-story structure with 298 units on just over an acre of land at 401 W. Cabarrus St, according to site plans filed with the city. The property, which is under contract from Maverick Partners Realty of Durham, is located diagonally across the street from Kane Realty’s six-acre West End development at 600 W. Cabarrus St., the site of the former Clancey & Theys headquarters.  The 401 Cabarrus Apartments project combines five lots at 401 W. Cabarrus St., 505 S. West St., 513 S. West St., 510 S. Harrington St. and 514 S. Harrington St.""

https://www.bizjournals.com/triangle/news/2022/07/19/new-raleigh-apartments-downtown-elmwood-developmen.html

[carolina1792]

330 W Hargett 372-unit 30-story residential tower ASR renders: