Turnbridge working on some right of way adjustments. And trying to lease out a space to a restaurant/bar. City presentation mentions an upcoming ASR (assuming for the planned 280-unit residential tower in the parking lot)?
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I will have one Figure 4: Woonerf Option, please.
In all seriousness, seems clear that the City and developer are both interested in making Commerce Pl. an interesting, vibrant, and unique place. Could end up being one of the best projects in recent memory if all goes to plan.
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An NYC developer (Turnbridge Equities) wants 20-Story zoning for a development on three parcels of land located on W. Davie St. between Commerce Place & S. Dawson.
Copilot summary of TBJ article (https://www.bizjournals.com/triangle/news/2025/12/18/downtown-raleigh-site-rezoning-turnbridge-equities.html):
Summary: Turnbridge Equities, a New York developer, plans to file a rezoning application for three parcels in Raleigh’s Warehouse District (307 W. Martin St., 311 Commerce Place, and 322 W. Davie St.) to allow a mixed-use tower up to 20 stories tall. Two parcels already have 20-story zoning from a 2022 application, while the Davie Street property is currently zoned for five stories. The 1.28-acre site includes two historic brick buildings (from the 1910s–1920s) and a parking lot; the buildings total 37,000 sq. ft. and are 68% leased. Previous plans indicated preserving the historic structures and developing the parking lot into a tower with residential and retail space. The site is valued at $20.3 million. Turnbridge acquired the property in March 2022 and will hold a neighborhood meeting on Jan. 7 before filing the application. The Warehouse District is a major development hub, with other projects including a 20-story condo tower near Nash Square.
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I would only be for this if they preserve the buildings on Martin St. If they plan to tear down, then HELL NO, STAY IN NYC.
Build over the top of them, or preserve the facade and use as street level retail, either way is A-OK in my book. But a tear-down? GTFO.
EDIT: Appears they’re considered historic, due to their age - but are they PROTECTED historic status? That’s my question.
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Just like John and Pbeez…
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show up for this meeting and let the developer know where you stand before the application is filed.
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Turnbridge……is the same folks doing the Cremery, no ?
Right….and also the Seaboard train station proposal……so, seemingly interested in preservation to some degree……
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Steady on there whippersnapper.
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Good point! Ok, I feel much better about them being the ones to redevelop this plot!!!
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Is this really different from the properties that were rezoned by the Clearscape team on Martin? I thought they already got 20 stories?
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Seems that tiny sliver on Davie adjacent to the woonerf is the outlier…..Article states zoned for 5.
Kinda weird.
Think the other two lots there on Davie (between that corner and Dawson) are Empire.
Turnbridge Equities acquired 307-313 W Martin Street and 310 S Dawson Street in March 2022 as part of an assemblage. The two parcels, which are located across the street from Nash Square, include a pair of authentic brick and beam warehouse buildings totaling 37,000 square feet and are occupied by retail and commercial tenants along with surface parking. Collectively, the properties comprise 1.22 acres in the heart of Raleigh’s Warehouse District, which features vibrant mix of art museums, restaurants, destination retail, mixed-use developments, and technology and creative firms. Turnbridge is in the midst of implementing a select value-add program to the existing buildings, including the lease-up of vacant commercial and residential space. While maintaining the historic integrity of the existing Martin Street buildings, Turnbridge is currently working to develop the underutilized surface parking lots, which may support approximately 280 residential units.
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Yes, but that description was already there before the recent rezoning stuff. Just hope this new rezoning doesn’t change their approach.
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First neighborhood meeting is January 7, 2026 6pm at 307 W Martin Street
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My assumption is that the original description of their plans is accurate. The developer most likely conducted and recently finished an analysis to figure out how to preserve the brick buildings and incorporate them into a new development that maximizes on the residential potential (280 Units).
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Saw the rezoning request come through on the wire service topic.
QQ for anyone who might know. Where exactly does the right of way on Martin Street begin? I ask because one of the conditions is to preserve the historically contributing storefronts/buildings 85 feet back from the right of way on Martin Street. Is that measured from the centerline of the street? Is that measured from the front facade of the buildings? Is that measure from the curb? …???
There sure are some caveats carved out in the developer’s favor should the buildings become damaged beyond 50%, including “any other unintentional cause to the extent of more than 50% of the replacement cost”. I mean, what is unintentional cause? What if they “accidentally” drop the crane through the property? What if it’s damaged within the 85 ft but not the facade? Do they get to tear down the facade because it’s significantly damaged behind it?
I saw this happen to the “There’s Something About Mary” house in Miami years ago, and poof the historically significant house was gone and the developer built what he wanted to in the first place.
It would seem to me that we need stronger language in protection of the facades. It feels like there’s not only a loophole to tearing it down, but also an incentive to find a way of doing so by giving them the right to be build more floors in its place.
Wasn’t this same language used in the Creamery (OG building) rezoning as well? They would try to preserve the façade, but if it were damaged beyond X amount, it could be torn down and replaced.
I actually don’t see how this is the same when the OG Creamery building isn’t being substantially modified as part of the development. Did the rezoning have language that said that they could tear down the OG Creamery and double the entitlement height if they did? For this row of buildings, the 85 ft right of way suggests that the back of these buildings can/will be demolished, and it’s the “what if” caveats and language that concerns me, and it’s especially concerning because there’s actually an increase in entitlement if the entire building is demolished.