So Kindley Drive gets connected to MLK and then they are reconfiguring or removing the current northbound on-ramp from MLK to McDowell Street.
I’m still not seeing how this doesn’t leave this development area on an “island” still - it helps both Mira and this new development from a vehicle standpoint because now residents can go northbound easier after leaving, but the rail line is a major separator for bike/walking. The traffic going up McDowell is going to be moving very fast and its multiple lanes so that walk toward South Street if they add a sidewalk won’t exactly be pleasant.
This type of work will elevate things to where they’ll have to get NCDOT to sign off on it, not just the City.
These aren’t just reconfiguring city streets—these are state roads. (McDowell is US401/US70, MLK is SR 4363 and Western is SR 1012.)
So….we’ll hafta see if they get on board with that complete revamp or not.
The hotel isn’t dead given the new updated ASR but I’m not sure about the other lots. I’m sure the streetscape plans have not changed given it’s somewhat connected to a DOT project.
The updated ASR… is only the 1-story 27,000 sf parking structure. Parking level is partially underground and with an automated mechanical parking system loading bays and plaza roof deck at the surface.
Well I don’t know what to make of this, but I have to believe it means the project isn’t moving forward. The ~5 acre Gateway site has now been listed for sale with Lee & Associates:
I wouldn’t touch that project if you gave me the land for free. The site and location is very challenging as has been discussed here previously. The 40-story zoning is irrelevant as the construction cost to go that high aren’t close to covering based on rental rates. Even with all the tax credits, this project is so high risk for what reward. The real winner in the deal was the original land seller who sold some major speculation because of “scarcity.”
The city is growing, new supply is great, but this is a $100mil+ project that would be competing against not just the major downtown projects, but regionally. We (Raleigh) are grabbing our fair share of new residents, but you can’t have 20,000 new apartments in a short time span, this needs to be incremental so that it’s sustainable. Jobs, income, retail, etc have all to run parallel growth for this to work out well.
I’m curious what this means for Exploris and their current occupancy at Swain and New Bern. As I understand it now, they are leasing their current plot until their new building is constructed. After this happens, I’ve heard rumored that a grocery store will move into that plot. I’ve even heard an agreement has already been made (although which grocery store is a mystery).
Does the Gateway site being sold include a requirement to build the school? Or can the buyer draw up new plans as they see fit? If so, what can we speculate will happen to Exploris?
