Developer Gregg Sandreuter has acquired two additional properties on Harrington Street near downtown Raleigh where he plans to build an apartment complex.
The properties, at 437 and 441 N. Harrington Street, are next to the West condominium complex that Sandreuter developed several years ago. He paid $3.635 million for the two properties, according to Wake County property records.
Sandreuter now owns three lots on Harrington Street. He earlier purchased the property at 413 N. Harrington.
Sandreuter said this week that he plans to build an apartment complex on the two properties he acquired earlier this month and keep the third as an investment property.
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The developer earlier filed plans with the city to build a 177-unit complex. Sandreuter said he hopes to move ahead with that apartment project as early as this fall.
Sandreuter is also the developer behind The Edison, an office and residential project that will eventually cover an entire city block just east of Fayetteville Street in downtown Raleigh.
The project’s first phase, SkyHouse Raleigh, a 23-story luxury apartment tower, is expected to be completed in the next few weeks. A second Edison apartment building, a 224-unit, six-story complex, is also now under construction.