Saunders Street Planned Development - Five Horizons (Saunders/Lake Wheeler)


#128

The building code definition of a high rise is any building with an occupied floor over 75 feet above the lowest level of fire department access. Not very tall is it? But, I hate 10 story buildings being called towers. They’re not really towering over anything.


#129

Exactly. Those that work in the industry consider 75 feet+ (about 7 floors and up) to be high rise due to buildings of this height being classified as such by fire code. Colloquially, it’s a different issue.


#130

According to the TBJ, the developer of the project (Five Horizons) just closed on another ~acre of land. They paid $1.7m for it, and now own 3.75 acres.


#131

Today’s TBJ has a article on Five Horizons Project on S. Sanders St . I am not a subscriber & can not read but a small part of the article ! The article states that several 20 story towers may come in the future !


Expansion without Apple or Amazon
#132

I would really love to see Apple go there.


#133

so they still need to purchase the other 5+ acres? How do they request a zoning change if they don’t own the land?


#134

Great question. And I am only guessing, but I assume they have buy-in from all owners that the zoning change is a good thing for all values.

It’s also possible (really guessing here) that they’ve got options or good faith agreements on the other parcels.

I hope they can pull it all off!


#135

Hopefully the Apple rumors don’t drive up the prices for them


#136

Most likely, the sale of the other properties is conditional upon a successful rezoning change. My family sold some property this way; it was only after the rezoning passed that the sale was finalized. I’m sure 5 Horizons has agreements with all the other property owners if they’re going after this.


#137

That’s exactly what they have done: It’s a conditional purchase contract; conditional on the rezoning


#138

Maybe this is where Advanced Auto is moving?


#139

Kane is doing this with the property on Cabarrus, too. They don’t own the land yet, but they’re requesting rezoning.


#140

I’m sure they have it under contract


#141

Five Horizons plans to give a presentation about this project at the Southwest CAC meeting this coming Monday, Dec 10. I’m tentatively planning to go.

https://www.raleighnc.gov/community/content/CommServices/Articles/CAC/SouthwestCAC.html


#142

I’ll be there and can provide an update if you aren’t able to make it.


#143

Cool. Maybe we can meet up.


#144

I’ll keep an eye out for ya.


#145

Leo - the SWCAC meeting scheduled for tonight has been cancelled. Our next meeting will be in January. Not sure yet about the agenda.


#146

oh yeah, makes sense.


#147

Corey Mason, Five Horizons, and Sarah Ellis, City Planning, are scheduled to be at the SWCAC meeting Monday 1/14, 7pm Carolina Pines Community Center. They will discuss the S. Saunders and S. Dawson rezoning case number Z-32-18.

I’m planning to be there.