Downtown Raleigh’s ‘crane lot’ is finally moving forward. Here’s what to know
After more than a decade of delays, lawsuits and a stalled crane that became a symbol of Hillsborough Street dysfunction, the long-frozen site at 2510 Hillsborough St. is being redeveloped. New owner CityPlat is transforming the property into a mixed-use commercial building across from N.C. State University.
FULL STORY: After a decade of delays, downtown Raleigh’s ‘crane lot’ is finally moving ahead
Here are key takeaways:
CityPlat is building a 7,800-square-foot commercial building for retail, restaurant, bar, event and office use, reusing the existing concrete frame that sat unfinished for years.
Construction is expected to finish this winter, according to CityPlat principal Patrick C. Moore, with most work happening inside the building.
The site’s troubles began in 2014 when developer Hillsborough Lofts planned a seven-story student apartment project. A 2017 arbitration ruling blamed the developer for delays, and the company filed for Chapter 11 bankruptcy soon after.
CityPlat bought the property in 2021 for about $1.25 million and later secured rezoning for a five-story building after exploring hotel and student housing concepts.
Two tenants have already signed on, including national sportswear retailer Rally House and an undisclosed national food and beverage operator.
The summary points above were compiled with the help of AI tools and edited by journalists. The full story in the link at top was reported, written and edited entirely by journalists.
