Long-awaited redevelopment of abandoned Capital Plaza Hotel now complete
For years, the Capital Plaza Hotel sat as an abandoned and graffiti-splattered 1970s relic on Raleigh’s Capital Boulevard.
Now, less than two years after the hotel was torn down, the 13-acre site has been transformed into a luxury mid-century modern apartment complex.
Alliance Residential Co., a national multifamily apartment developer, on Thursday held an open house for Broadstone Oak City, a 335-unit apartment community located at 2911 Mid-Century Drive.
The tour included a fresh look at its retro interiors designed by South Carolina-headquartered LS3P, including a customizable LiteBrite wall and funky bright color scheme in a nod to its past.
“The site that was once considered a Raleigh eyesore is now bringing a unique and stylish modern mid-century flair to Raleigh’s East Midtown area,” said Alliance Residential Carolinas managing director Donald Santos.
With major employers like Duke Raleigh Hospital and Truist Bank nearby, he added, the long-awaited opening is a “much-needed” addition of housing to this corner on the Raleigh I-440 Beltline.
Offerings include one-, two- and three-bedroom luxury apartments ranging from 640 to 1,356 square feet.
Amenities include a podcast studio, private workspaces, pet park, outdoor grills, saltwater pool, indoor/outdoor fitness spaces, 445 parking spaces and four electric vehicle charging stations.
Rents range from $1,439 for a studio to $2,240 for a three-bedroom apartment, according to the property website.
The site housed a Holiday Inn hotel in the 1970s. Over the decades, it exchanged hands and names several times, before closing in 2000 when it was a DoubleTree hotel. It was purchased for $1.4 million in an auction in 2010 by hotel investor Balbir Brar.
A rezoning request for the redevelopment was initially filed with the city in 2019, the N&O reported. Developers met with local residents, who said in neighborhood meetings that they were eager to see the hotel gone.
The hotel’s unpopularity grew after the U.S. Army used it in a training exercise with loud explosives and helicopters that same year.
Alliance Residential Co., a national multifamily apartment developer, bought the property for $4.2 million in 2021, according to county records.
