December Developments in Review

2014 finished with a bang in Raleigh, with over 4 new developments being announced in the last month of December! From Downtown Raleigh to Capital Blvd and Glenwood Ave, the projects (which include retail, apartments, office and hotels) are popping up all around the Capital City. Here are the top ones:

Glenwood Place is a multi $100 million redevelopment by Grubb Ventures in Raleigh. Taking their already existent Glenwood office park (right before 440 and Crabtree), Grubb plans to totally reinvent the 40 acres with the following,

  • 70,000 - 140,000 SF of retail and restaurants

  • 600,000 - 800,000 SF of office space

  • A full service hotel

  • 100's of new luxury apartments/condos

NC Art Museum unveiled plans to construct a new campus on Blue Ridge Road. Here are a few highlights for your compass,

  • 164 acre campus

  • + $13 Million already in investment

  • Will include new bicycle trails, walkways

  • New connection to Raleigh Greenway

  • New Art throughout!!

Winn-Dixie Warehouse is another Grubb Ventures redevelopment, this time on Capital Blvd. They are planning the following,

  • 180,000 SF for redevelopment

  • Warehouse to become new "entreprenuer" and small business hub

  • New restaurant and on site brewery

Stone's Warehouse near Moore Square area in Downtown is our last pick from December. Redevelopment plans have been a topic since April of 2014, but the following bid looks to be the winning new vision for the downtown warehouse,

  • 180,000 SF for redevelopment

  • $30 Million plus redevelopment

  • ½ of entire city block to be redeveloped

  • 13,000 new restaurant/retail building

  • 16 townhouses

  • Grocery store as well as space for Rex Healthcare

That's December in a wrap! Keep your eyes peeled for groundbreakings and construction along these sites in the next few months!

- Capital Compass

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