Rockway Apartments - S. Saunders/Lake Wheeler Developments


What do you guys think

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I think thereā€™s comments above on this and I think youā€™re not getting your 20 stories at Rockway

Well yeah first it merge capital an park city then rock way to me none of this make sense

Glancing at The Easternā€™s website, some of their prices arenā€™t that far off.

EDIT looks like they list full service concierge service as an amenity for the community so it counts? lol

Floor Plans - Studio, 1, 2, or 3 Bed Apartments | The Eastern (theeasternraleigh.com)

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I willing let god take over any development and let help out the developers minds

Windows going in!

Definitely not a fan of multiple window colors visible from same angle, but hopefully this one turns out better than Platform.

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Biked down the greenway and caught a quick progress pick. The nearby greenway tunnel got a new paint job and looks much better!! New color scheme is a little more modern. It was purple, pink, and black before. New paint/design looks crisp.

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Phase 2A ASR filed as not passed back in August, updated in 09/2023. Previous filing was from July of 2022 so good to see some sort of movement. Description in the permit portal still lists 20 stories, but I canā€™t attest to the accuracy there.

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From Raleigh Magazine article on Devā€™s in the pipelineā€¦donā€™t think Iā€™d seen this render from the phase 2 building, the Heath :
" In terms of the live aspect, the first phase, dubbed Rockway Residences, will feature six residential levels over ground-floor retail. The second phase will deliver The Heath, an apartment building with sprawling street-level retail space. And as with any Kane development, the amenities are stackedā€”from a rooftop lounge, pool and fitness center to bicycle storage, to a tranquil internal courtyard. Plans for a second additional residential building in Phase 2 are currently underway."

https://raleighmag.com/2023/10/raleigh-development-updates-2023/

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Yup so this once-planned 20-story tower has been massively scaled backā€¦ BOOOO

I think this is going in the lot along S Saunders based on the rendering. Also wishful thinking because that would leave the lot for the 20 story tower untouched. If you look at the ASR for the tower, there is a nice, 5 over 1 shaped space right next to it.

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ok perhaps I stand corrected!!! Praise be :pray:

Maybe Iā€™m wrong but the unit count tells me that this is an outdated site plan. Kaneā€™s own materials say that ā€œThe Heathā€ (the new 6-story 5-over-1) will be approximately 350 apartment units. I donā€™t see how they can fit that on the .94 acres shown on that site plan. For comparison, the Alexan apartments being built will be 7 stories and only have 289 units on a tract that is almost the exact same size.

Ok perhaps I actually did stand correct. Dammit!!!

Definitely thinking the 20 story tower is dead now. Since the Kanes have bought into The Weld, which is clearly a better location directly across from the park, it would make sense that some of the ambition formerly focused on Park City South/Rockway has now been re-focused onto The Weld.

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Donā€™t they have to submit a new ASR for the redesign?

How many time they to do redesigns uh oh my god

Just what we need more of in these buildings more ā€œsprawling retail spaceā€

For some reason in the ASRā€™s project details theyā€™re referencing it as POD C, unless Iā€™m reading this incorrectly.

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Since the Kanes have bought into The Weldā€¦ā€¦.it would make sense that some of the ambition formerly focused on Park City South/Rockway has now been re-focused onto The Weld.

I donā€™t have direct knowledge regarding this, but based on several factors I donā€™t think John Kane (the elder) is involved in The Weld.
I remember reading some comments John Kane made several years ago where he expressed a dim view of involving his children in Kane Realty. He didnā€™t think it was a very good idea and if I recall correctly, expected his children to make their own mark. His son Bryan Kane is a co-founder, CEO, and managing partner of SLI Capital. Along with MREG of NY, SLI Capital is developing The Weld. SLI Capital is also involved with the East End Market development. According to a partial bio of Bryan Kane, he has worked in real estate investment with CBRE and FCP.

[https://ulidigitalmarketing.blob.core.windows.net/ulidcnc/2015/10/Bryan_Kane_bio.pdf]

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