New development planned for Olde Towne site in Southeast Raleigh

John Chavis Memorial Park in Raleigh, N.C., photographed Tuesday, June 18, 2019.
John Chavis Memorial Park in Raleigh, N.C., photographed Tuesday, June 18, 2019. ehyman@newsobserver.com

A new development project is planned for Southeast Raleigh, including apartments, office space and a shopping center.

The project is at the site of the former Olde Towne project, a 600-acre development started in 2003. The project was partially constructed, but the property was taken back from the developers by the bank.

The new project, currently under the same Olde Towne name, consists of both residential and commercial developments located along South New Hope Road.

The property owners, LoBro LLC and OC Retail East Co LLC, have put in rezoning requests for the commercial portion, a combined 100 acres. This portion of the project will include up to 450 urban apartments, a 300,000-square-foot shopping center, office space and out parcels, which could include things like drug stores.

The residential side, owned by the Halle Building Group, was rezoned before it was sold by the bank last year.

Charles Walker, the project contact person and the original Olde Towne designer, said that the new project has received very little pushback.

The Southeast Raleigh Citizen Advisory Council recommended the project be approved with a vote of 17 to four.

The rezoning requests are set to be heard at the Sept. 10 planning committee meeting.

The site doesn’t currently have developers.

A former Greyhound bus property located on S. Blount St. was purchased by a Virginia home building company, Stanley Martin, for $4 million in December. It's future development could lead to increased property values and push out longtime residents.

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