COVID-19 has not stopped housing development in Wake County. Here are new projects.
Four months of coronavirus pandemic have not slowed the pace of residential real estate development in the Triangle, as both local and out-of-state developers have started construction and prepared plans for new projects ready to open later this year and in the years to come.
Here’s a roundup of some important upcoming and proposed residential developments in Wake County:
Salisbury Square
Raleigh developer Dominion Realty Partners, which brought the F.N.B. Tower to Raleigh’s skyline last year, is planning to build a huge high-rise tower project next to the Duke Energy Center for the Performing Arts in downtown Raleigh.
It purchased property owned by the North Carolina Association of Educators at 700 Salisbury Street, according to site plans filed with the city.
This mixed-use project, titled Salisbury Square, will include towers and mid-rise buildings with housing, hotel, retail, office and parking space.
The project proposes building two 20-story towers, a six-story hotel with 150 rooms, and a four-story building with 63 units for workforce housing priced for low-income tenants, with an attached parking deck with 1,277 proposed spaces, according to JDavis Architects and the project’s plans filed with the city.
One tower will have 242 upscale apartments with 175,000 square feet of office and retail space, and the other tower will have 270 apartments with a rooftop pool, the architecture firm for the project announced.
A park with green space will be between the towers and buildings. Construction is expected to begin toward the end of the year.
East End Market
A historic warehouse in an area with redeveloped industrial property between the Five Points and Mordecai neighborhoods will become an 11-acre site of apartments, restaurant and office space along Wake Forest and East Whitaker Mill roads.
Raleigh developers SLI Capital and Atlas Stark are behind the project, which is next to Dock 1053, an office and retail complex made up of redeveloped industrial space.
According to plans filed with Raleigh’s planning department, developers want to build up to 500 multifamily units and seven buildings comprising 394,000 square feet with five and seven-story buildings in the site’s center. The project calls for buildings as high as 15 stories near the instersection of Wake Forest and East Whitaker Mill roads.
It’s next to Raleigh Iron Works, another mixed-use development being built by a Raleigh developer.
Work on the first phase of East End Market will start later this summer and fall, the Triangle Business Journal reported.
Litchford 315
Raleigh developers DeWitt Carolinas — who have a billion-dollar development near North Hills in the works — announced plans this spring for an apartment development aimed to be more affordable than the majority of brand new apartments in Raleigh.
Using federal funding from Department of Housing and Urban Development to build more affordable housing, DeWitt is building 240 one- to three-bedroom garden-style apartments on Litchford Road in north Raleigh. The 14.3-acre property will include 10 buildings and amenity spaces. Litchford 315 broke ground in May with the first apartments available by the second quarter of 2021.
DeWitt Carolinas told The News & Observer previously that they know that demand for more economic housing is needed for essential workers in the Triangle. Rents will be under $1,000 for some of the units, they said.
The Canopy at Fenton
The 69-acre shopping, living and entertainment development in Cary named Fenton will feature luxury apartments and be anchored by a Wegmans.
The Canopy will be a six-story building of 357 luxury apartments ranging from studios to three-bedroom units and four loft-style units, according to a press release.
Fenton is at Cary Towne Boulevard near I-40 and construction is beginning later this year.
It is being built by Hines, an international real estate investor, and Columbia Development, a South Carolina developer, with an expected 2022 completion.
North Ridge Pointe
The national homebuilding company M/I Homes filed plans with Raleigh to build a subdivision with 80 single-family homes in suburban north Raleigh south of I-540 on a plot of 15.5 acres.
The homes would have at least 3,900 square feet and have three bedrooms, the subdivision plans say. According to The Triangle Business Journal, M/I Homes closed $175 million in contracts in the Triangle and built 325 homes here in 2018.
M/I Homes announced earlier this month that sales were open for Ellis Crossing, a new townhome community in Durham.
Crenshaw Trace affordable senior housing
Affordable housing will come to Wake Forest in northeast Wake County as Taft Family Ventures, a Greenville developer, plans to build 68 apartment units on four acres at 987 Durham Road.
The plans filed with the town include 36 one-bedroom units and 32 two-bedroom units for residents over 55 making 30% to 80% of the area median income.
Rents would range from $476 to $1,086, The N&O reported last April, when the county approved $12.6 million in loan funding for affordable housing, including this one.
LakeShore Raleigh
A Raleigh developer plans to build a three and four-story 44-unit condominium complex overlooking Lake Raleigh on North Carolina State University’s Centennial Campus.
The LakeShore Raleigh condos will range from one to three bedrooms and are targeted toward homeowners who want to live near downtown Raleigh, the condos’ website says.
Their leasing office said that they’d be built before 2022, but a specific date was unknown. According to the Triangle Business Journal, the property is owned by the state and the development is part of a partnership between developers and the university.
White Oak Properties, which has developed properties across The Triangle, is offering pre-sales for the site.
Raleigh affordable senior housing
The Raleigh City Council approved a rezoning request in early June from Raleigh affordable housing developer DHIC and senior home developer Presbyterian Homes to redevelop the closed Milner Memorial Presbyterian Church at 1950 New Bern Avenue in east Raleigh.
The 4.6-acre property will start construction in early 2021 for 150 units and will be aimed for seniors making 60% or below of the area’s median income, according to the rezoning plans.
The developers entered a partnership to carry out this joint project.
Vintage Jones Franklin
TDK, a national developer from Tennessee, began work in March on a 350,000-square-foot luxury apartment community on 14 acres in southwest Raleigh near Lake Johnson on Jones Franklin Road next to Interstate 440.
The development will have 277 apartment units across four buildings of three and four stories, according to plans filed with the city last year. TDK’s website, however, says it will have 297 units. The company did not respond to calls seeking clarification from The N&O.
Preferred Apartment Communities, a real estate investor that owns the Wells Fargo building in downtown Raleigh, invested a $10 million loan in the project, a company press release said. The first apartments are expected to be ready in fall 2021.
Proposed Wake County developments
Developers have filed rezoning requests with local governments in Wake County for proposed residential developments that the county must approve. Plans for developments often change during the approval process.
Here are some of them:
▪ Virginia developer Capital Square wants to rezone a 1.32-acre lot with a church and a small decrepit building to build up to 20 stories for a mixed-use development at 320 West South Street in south downtown Raleigh.
Capital Square bought the property in April for $4.2 million, county records show.
▪ Cary-based developer WithersRavenel filed a rezoning request this year proposing 178 homes of up to three stories each near Lake Johnson Park in Raleigh. The plans do not specify whether units will be single family or multifamily homes.
The site is 17.8 acres and is not far from North Carolina State University. It is pending further review with the city.
▪ Owners of a parking lot in downtown Raleigh at 220 East Morgan St., on the corner of East Morgan and South Person streets, filed a rezoning request to build a 20-story high-rise there. The request doesn’t specify what kind of development it would be.
▪ The Northside Center, a 35-acre industrial and commercial property next to Wegmans in Raleigh in the Midtown area filed rezoning plans to build up to 20 stories on the site, which is next to I-440.
The plans say that the project “will allow for development of housing and needed office space in a mixed-use, urban configuration appropriate to both its Midtown and highway-adjacent location.”
The Spectrum Companies, a Charlotte-based developer, bought the site earlier this year for around $60 million, The N&O reported previously.
▪ LIV Development, an Alabama multifamily developer, filed plans with the Town of Cary to build a large mixed-use site with up to 325 apartments in buildings of up to four stories, 20 townhomes up to three stories, around 500 parking spaces and 50,000 square feet of office space.
The development would be connected to a greenway and have a creek running through it. The town is reviewing those plans. The 24-acre site is next to the Centrum @ Crossroads shopping center on Dillard Drive and Piney Plains Road.
The land is privately owned by DellKing Family LLC, which has been owned by the Dellinger family for decades, county records show.
This story was originally published July 15, 2020 at 1:12 PM.
