What’s the future for North Hills? Kane Realty eyes towers that are 30 and 40 stories
By the end of the decade, new high-rise towers could be peeking out several miles north of downtown Raleigh.
Kane Realty Corp., one of Raleigh’s principal real estate developers, is making moves now for an expansion to the skyline of its North Hills district, although it’s not envisioned to be built for at least five years.
The firm plans to file a rezoning request to the city soon to allow for building much taller developments from what is currently allowed — ranging from a 12-story mid-rise building to a 30-story tower and a pair of 40-story high-rises.
Kane Realty says on its website that vertical redevelopment in North Hills will prepare them for future population growth and the demand for housing and retail in the Midtown area of Raleigh around the northern edge of the I-440 Beltline.
“We believe the time is right to transform these parcels to their highest and best use for current and future generations of Raleigh,” the firm said on its website showing its rezoning plans.
The present pieces of land are “underutilized” and are used for parking lots and single-use retail, Kane Realty says. A Wells Fargo branch, an Exxon gas station, a North State Bank branch and a building that includes a UPS Store and Walgreens currently sit on these parcels.
“It’s time to realize that we have 70 people a day moving to our community, we have got to grow up and not out,” Bonner Gaylord, chief operating officer of Kane Realty, told The News & Observer in an interview. “We need to add urban density as opposed to suburban sprawl, and this is a way of accomplishing that.”
The land is currently zoned for commercial mixed-use (CX) that allows building up to five and 12 stories high.
North Hills recently topped out its 35-story Walter tower across the street next to the Advance Auto Parts headquarters building, which is set to completed and move-in ready early next year.
Pieces of North Hills growth
Kane Realty plans to file the rezoning request next month. The request will ask for building up to 40 stories high on two parcels that face Six Forks Road on Lassiter Mill Road and Main Street.
The request will ask for a 30-story height limit on the corner of Lassiter Mill and I-440, which currently serves as parking for Renaissance North Hills and Target. It will also ask for 12 stories on a parcel north of that one, located on the corner of Rowan Street and Six Forks Road.
As commercial mixed-use zoning districts, the text of the city’s Unified Development Ordinance recommends it for building a mix of housing, retail and office space to promote “live, work and play” opportunities.
The parcels in question are within a City Growth Center and a Transit Emphasis Corridor, which the city is targeting for denser development.
The developer already has begun to reach out to nearby residents for feedback on these plans, and offers an online survey for residents to give their input, including an email address at rezoning@visitnorthhills.com for suggestions.
North Hills and its developer have plenty of growth coming already, including a $350 million expansion on the former site of a JCPenney and the tech-focused North Hills Innovation District, valued at $1 billion.
Any prospect of construction will be preceded by years of planning and approval from the city, “but we’ve got to get the land use set now in order to begin to evolve those plans,” Gaylord said.
This story was originally published September 20, 2021 at 6:00 AM.
