Peace Street Condos

Just noticed this on the TBJ website. Looks like the hotel is out and condos are in. Of course it is subscriber only. Can anyone shed some light on this? @John do you know anything about this?

https://www.bizjournals.com/triangle/news/2019/10/30/developer-plans-mixed-use-building-with.html

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Seems like quality projects from this developer. https://lock7.com/projects/

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Thanks @GucciLittlePig for sharing with me. Looks like a 4 story mixed use building with 24 1 to 3 bedroom condos and ground floor retail spaces. It mentioned a coffee shop, which is ironic since it is located next to the Starbucks property. (maybe Starbucks will move to the new building and that parcel will be redeveloped :slight_smile: )

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@OakCityKarla heard this rumor Monday evening but wasn’t sure what “it” was. Love anything with more condos for DTR!

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24 condos and 1,500 square feet of retail space.

(The developer) says no retail tenants have been signed yet, though he expects the space to be leased by a restaurant or coffee shop.

Interesting when Starbucks is right next door. Odds that Starbucks might consider moving and selling their suburban-style place later?

edit:// @Nickster beat me to it. I was typing this reply and got pulled in to an impromptu meeting before I could finish.

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@OakCityDylan absolutely agree. I’m always very glad to see new condos downtown. Apartments are fine, but I really like condos.

The developer says this “will be the first of several projects we have planned for the city.” The article mentions a couple of sights in Cameron village.

They paid $1.65M for the 0.36 acre property.

Expected to start construction next year and finish in 2021.

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People are having meetings already? Man I should get out of bed…

If they’re looking for small walkable locations downtown, they should try that little triangle spot by 400H

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They have some cool projects on their website, and then there is a self storage…

Anyway, it will be a great project here.

Man, I’m really glad the Paramount people got it knocked down from 5 stories to 4 under conditions that no longer apply /s

But this is sure to be a great project, and I’m very happy about the ground floor activation! I’d welcome a competitor to Starbuckers.

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I’m starting a rumor. Starbucks is moving to the triangle shaped retail spot in SmoHoOh attached to the parking deck. Starbucks on the first floor and Panera bread on the second. :scream:

That’s honestly what will probably have the most success at that location too. Somewhere that people will flock to regardless of its awkward location, because they NEED Starbucks coffee. I mean there are 3 Starbucks just inside of North Hills alone (Target, The Commons, and next to Total Wine).

I need Starbucks! Scorn me for bad taste if you want to but I like it. Just plain coffee. And a shot of Pookie (if you go to Peace Street store you know who I’m talking about).

No passed judgement, I don’t drink any coffee regardless who makes it. I’ve never enjoyed the taste and can’t tell you the last time I had any caffeine. Just saying for that location to survive they need customers that will gravitate to that weird spot just off Name-Sake alone.

The city should reject this and require a minimum of 7 floors on top of a minimum of one level retail and NO requirement for parking (but can still include)
Just my 2 cents for the day! :thinking::wink::crazy_face:

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This is at least the third, perhaps fourth proposal I can recall at that spot. I wonder if the rather restrictive four story zoning will make it difficult for anything to pencil out?

We shall see if this project is the one to break the curse. I am skeptical.

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The new developer can seek tall again and I would think it would be difficult for the Paramount to block it if there’s no rooftop bar. Paramount does not own air rights above that building. Plus we have a MUCH more progressive City Council coming on board in about 40 days!!!

Looking at the developer’s website, most of their projects seem to be the three, four or five story range. So, they seem to be comfortable going with the four story height on this project.

Looking forward to @John ‘ opinion.

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We talked about it a little the other night. @John/@OakCityKarla that is. We didn’t know what it was going to be but John has some good history if that lot and the past failed attempts to develop it.

Maybe I missed it but where on Peace is this? Across form the Starbucks / mellow Mushroom?