Real Estate News

Work begins on Raleigh condo project

Demolition work has begun on a project that will convert a 47,000-square-foot office building in Raleigh’s Hayes Barton neighborhood into 39 condominium units.

White Oak Properties paid $2.79 million last month for the property at 1300 St. Mary’s, according to Wake County property records. The building sits at the corner of Wade Avenue and St. Mary’s Street just northwest of downtown.

Roland Gammon, White Oak’s owner, said completion of the project will take about a year. The condos, which will range from studios to three-bedroom units, will be priced from $169,000 to $400,000.

White Oak acquired the property from a group that included Smedes York, the developer and former Raleigh mayor. York’s group had owned the building since 1981.

1300 St. Mary’s is the second residential project in the downtown Raleigh area that White Oak now has under construction. The company is also constructing Peace Street Townes, a 17-unit townhouse project at the corner of Peace and Person streets.

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