New Raleigh apartments near train tracks come with views (and noise). Here’s a peek.
A new luxury apartment building sits directly adjacent to Raleigh Union Station.
From 5:30 a.m. to 11 p.m., trains roar past just a few hundred yards away. It’s a constant soundtrack of bells, horns and whistles.
For Kane Realty, its developers, it’s also a selling point. Hence the name: Platform.
During a walk-though of the site earlier this week, Kristen Stedman, Kane’s residential property manager, acknowledged that many residents are hesitant at first.
“But over time, they learn to love it,” she said. “They enjoy having a cocktail on their balcony, watching the trains at night. You feel part of the city.”
Last October, Kane, one of the Triangle’s most prolific developers, delivered the 442-unit building (with 26,000 square feet of retail space) at 600 W. Cabarrus St., near historic Boylan Heights.
Amid a post-pandemic construction boom, Platform is part of a recent wave of apartment deliveries, flooding the market with new “Class A” inventory and driving up vacancies. (In total, 674 units across four developments have decreased downtown’s occupancy rate to 88.7%, according to Downtown Raleigh Alliance’s third-quarter market report).
On Wednesday, the firm’s leasing agents hosted a “meet and greet” in the building’s lobby to generate more buzz. A year in, the building is 60% leased, they say.
“We’re getting a lot of transplants coming from out of state,” Stedman said. “Young professionals in their 20s and 30s.”
The seven-story building features a mix of studio, one-, two- and three-bedroom apartments, ranging from $1,340 to $3,440. Its first retail tenant, Homebody Yoga, is slated to open in early 2025.
While leasing is on track, Stedman added, more inventory is the pipeline, and they’re keen to shift stock. Like many new projects, the building is offering move-in deals — like two months free rent — to attract tenants.
Other amenities include a pool, wellness center, crafts room and coworking spaces.
The rise of Raleigh’s West End
In 2018, Kane Realty purchased the site of Clancy & Theys’ former headquarters on Cabarrus Street, sandwiched between downtown and the 306-acre Dorothea Dix Park.
Since then, the firm has invested millions redeveloping this once-obscure industrial corner of downtown. Raleigh Magazine coined the West End district’s name in a 2021 feature article, and it stuck.
Today, it’s a mix of breweries, cafes and retail shops, just a short bike ride or stroll from the city’s central business district.
It even has its own website, though it’s not yet officially recognized as an official district by the DRA.
Next door, Kane has already broken ground on the project’s second phase, Oldham & Worth. It will be five stories of upscale apartments on six acres at the corner of West Cabarrus and South West streets.
Other projects, just down the road, include Rockway Raleigh, a 9.7-acre, mixed-used development connected to the Rocky Branch Creek and greenway. It’s expected to open in the coming weeks.
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