Kane Realty joins plans for Park City South development at gateway to downtown Raleigh
The real estate investor and developer behind a new mixed-use development near Dix Park has teamed up with a familiar name to build it.
Over a year after the Raleigh City Council approved the project’s plans, Merge Capital recently partnered with Kane Realty for the Park City South project. The development at the southwestern entrance to downtown Raleigh will include a tower up to 20 stories high.
Developers recently filed plans for its first phase, which will include a 10-story residential building with more than 30,000 square feet of ground-level retail space. It’s slated to have 244 one-bedroom, 87 two-bedroom and five three-bedroom units, development plans show.
The retail space includes possibilities for restaurants, gyms and co-working spaces.
Park City South eventually will include three phases built on 9 acres near Dorothea Dix Park in connection with the Rocky Branch Trail Greenway at 927 S. Saunders St.
“We’re excited to partner with Kane Realty, and we were thrilled when we started talking in that they care as much about Raleigh as we do,” said Chris Woody, managing principal of Merge Capital, in an interview. “They want to see a project executed here that is worthy of this location being so close to Dix Park and being the gateway to downtown Raleigh. They shared the same vision that we did for the site.”
The words Park City South will be on top of the building, visible to those on Western Boulevard heading toward downtown, according to initial site plans.
Woody says he hopes that construction will begin later this year. Vacant buildings that sit on the development site will be demolished.
Future projects
In addition to this project, Merge Capital has active plans for South Park, a smaller walkable commercial development just south of downtown near Shaw University and Martin Luther King Jr. Boulevard — a rapidly gentrifying area.
Woody said updates on those plans will be made public later this year.
The Park City South plans are part of Kane Realty’s bullish activity as one of Raleigh’s flagship commercial developers.
They’re working on the massive Downtown South project, the $2.2 billion mixed-use development that the Raleigh City Council approved rezoning in December.
Kane also announced a $1 billion Innovation District to be added on to North Hills and a 35-story residential tower in the same area.
This story was originally published February 8, 2021 at 2:52 PM.
