Do we know if they have closed on the property?
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Don’t know. I imagine they have agreements in place that are probably contingent upon the rezoning being approved. I think that’s how Merge Capital(née Five Horizons) proceeded with the S Saunders project.
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Oh you’re right. Maybe they changed recently? I feel like its been pretty open and assumed that Kane wanted to develop the property regardless.
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Kane has over 60 acres of underdeveloped land ITB under contract…he’s developing it with or without a stadium.
charlotte usa is getting ready to be extorted for $100Million…minimum for Tepper. This is his first ‘ask’ before he plans to pillage them for a rebuilt/new football stadium…charlotte usa is so insecure with themselves they will bend over, give him the $100 Million…knowing he’s going to ask for another $500MM to $1Billion in 3-4 years…yet they will do it and they will get an MLS team.
If Raleigh doesn’t step up on this project, and contribute in some way financially, we don’t deserve to have nice things…period.
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I never believed him when he said it but he said it.
With that being a prime location and an opportunity zone, he would be silly to walk away from it in my opinion but I’m not a billion dollar developer.
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But he said he wouldn’t unless they got the stadium. That’s a fact. He changed his mind or was lying all along but you can’t dispute the fact that that’s what he said.
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He did ‘say that’…He didn’t change is mind and one might argue he wasn’t ‘lying’ either…
He was/is ‘selling’…ok, maybe you could still call it a slight exaggeration of the truth
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Slight exaggeration of the truth … nice dissembling.
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Hey man, that’s the world in which we now live…facts, science, reason don’t matter any more…Just say it out loud and its immediately “real”
It was a bit of political theatre in the way it has been done for generations. No need to act shocked at the gambling going on in here. It was a long shot grasp at the 30th team, it was understood as such, and it failed. Really nothing much more to it.
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It didn’t ‘fail’. Malik knows what he’s doing. Read the WRAL article where Don Garber talks about his relationship with Malik…which is solid. He and Garber have known each other a long time.
I keep saying it: Raleigh builds a stadium…Raleigh gets a team.
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Let Charlotte build and Raleigh will learn from its mistakes.
I was in Charlotte for the weekend, it sucks. We have nothing to be jealous of. The new developments have hardly any street presence. The light rail is ok but a block away from it is still crap. Radiate out from Charlotte and it gets worse. Drive through Concord, Gastonia etc. Ugliest places in the South.
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It failed in the sense that it was obvious a Hail Mary gambit for this year’s 30th slot. Hence the urgency for this money ASAP. When that didn’t happen, plan b was to let things play out. Now that Garber has openly discussed future expansion, we will now watch things unfold at a slower pace.
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Agreed John, and thanks @Brian for the good word from Bonner. I think we need to realize that Saunders to the South could become the densest, most successful transit corridor leading into downtown.
Capital has floodplain and railroad constraints.
New Bern/edenton has residential development precedents.
Western has NC State, Prison, and Dix Park dictating the adjacent land.
Saunders on the other hand has two potentially massive PD zones, a midrise apartment rezoning in the works (Earp’s), and plenty of underutilized warehouse/automotive/flex space begging for redevelopment, all between 40 and DTR. Saunders could become a much hipper version of Charlotte’s South Park with a frequently stopping transit line making the downtown connection every 10 minutes. Perhaps this should go in the “Dream” thread… (✿^‿^)
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I’ve never read that the site would not be developed without the stadium. There was a discussion about it, but from what I’ve seen that was all conjecture on this forum. I have always assumed DoSo would be developed either way. My understanding is that they said the intensity of the development is dependent on the stadium. I don’t know that them saying they’ll move forward “with or without” the stadium is any different than what I’ve heard before, but we all hear and read into things based on our own biases.
I believe I’ve read or seen interviews where Malik has said that a 20,000 seat stadium was contingent on public funding. I could have interpreted that wrong.
I also don’t think they’ve given up on an MLS team, or on public funding for a stadium. They have the study being done, they have a new council that seems favorable to the project and I’m sure Malik is looking at the next round of expansion. The logical approach would be to submit a rezoning that can accommodate the max build out with stadium/MLS, with alternatives for a build out without it.
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The corridor would be just begging for its own transit solution that could be BRT, PRT, Tram/People Mover, etc. It’s only a little more than a mile and a lightweight solution could be perfect here.
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Mentions a large plot of land south of 40 that will be up for grabs as a “Trickle Down Affect” of the Penmank redevelopment.
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I wonder where this plot is. Not sure if the Wake county real estate map shows it as a single chunk of land. And who would they market that to? For mixed use purposes (like the Penmarc site or North Hills, etc) or for a single large campus.
CBRE | Raleigh is marketing a 45-acre tract of available land in this district just south of the Beltline on Hammond Road. Allen said this kind of acreage so close to downtown is almost impossible to find these days. The land grab provides an opportunity for urban mixed-use development, and “represents one of the last remaining large-scale development sites in a fast-growing core area of Raleigh.”
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Thanks for sharing.
This is essentially a sales piece written by a CBRE staffer advertising a chunk of land offered through CBRE. WRAL isn’t known for its high editorial standards.
Since when is Downtown South a “200 acre stretch of land”? Where are they even getting the 200 acre # in the headline?
And let’s stop calling it a $2 billion stadium project. That’s misleading. The cost of the proposed stadium is estimated at $180 million.
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