A neighborhood meeting was held Monday night to discuss the rezoning request for this property. This is the same developer as the Fairweather, and the purchase of the property is contingent on rezoning. The proposed development is a boutique hotel, condos, and street-level retail/mixed use.
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Do they plan to go all the way up to 12 floors per the proposed re-zoning?
Is this for the S Saunders project ?
ahh, yes. Wrong thread. I will have to rename these threads to be more clear.
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Itās my understanding they want 12 floors approved to close on the property. Apparently their plan isnāt financially viable on a property that size without 12 floors.
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Looks like this rezoning will be presented at the Central CAC meeting on Monday, March 4.
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According to TBJ the developers of The Fairweather are under contract to buy the lot just north (same block). This all depends on a zoning change to 12 stories.
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https://www.bizjournals.com/triangle/news/2019/02/27/high-end-condo-developer-wants-12-stories-next-to.html?iana=hpmvp_trig_news_headline
āTo be honest with you, the landās gotten so expensive you canāt put anything there unless you go taller,ā he says. āItās a matter of cost. Itās just what it is. Without the extra density, it will just stay what it is.ā
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Iām merging the fairweather thread with the one about the property to the north of it.
Interesting, if they get the rezone for 12 at this corner, then Cabarrus suddenly becomes pretty tall on both sides.
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FWIW, I was told last night that the Fairweather should see heavy equipment to actually begin construction early next week (only erosion control has been done the last couple of weeks) and we should see 2 cranes. Donāt know specifics. Given the building wonāt eclipse 100ā I donāt expect much but apparently 2 cranes. 512 days estimated to completion.
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I think all of these new condo developments are pretty exciting. Downtown apartments are good, but people are so much more invested when they buy a condominium, so it is great to be getting a mix.
Also cool that these two developments seem like they may expand the footprint of the warehouse District and downtown in general.
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12 stories going up here would be huge. Man there are going to be a lot of towers going up. Condos are big as well.
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Btw, What is Heritage park? Public Housing? Because if that land could be redeveloped, that would connect the 5 Horizons project to everything
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Heritage Park is public housing but I donāt understand how redeveloping that will connect anything to the 5 Horizons project since the two parcels are separated by Western Blvd. Not to mention the fact, thereās really no need to displace a bunch of people when there is plenty of other land to be developed and an entire block thatās sat empty for over two years right across the street.
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I wouldnāt really call it separated since Saunders runs under Western. It feels very connected when walking.
Iām all for redeveloping Heritage Park. They could build it in phases that wouldnāt displace any/many people and add many more houses. Iām hoping for some kind of mixed-use multi-income development.
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I was sort of more wondering why the redeveloping of Heritage Park was deemed necessary to make S. Saunders feel connected (to downtown I assume) in some way. Right now, I guess, it feels disconnected to some since A) thereās nothing really there where S. Saunders will be and B) people just arenāt familiar with the area. There are two major stalled projects on S. Saunders between South and Dorthea Drive that will vastly change the street. Eventually Heritage Park will get re-developed, hopefully in a way that increases density, the number of affordable and subsidized units and more of a multi-income environment with maybe a store or something but those days are probably far away and are going to be very contentious.
Anywhooā¦ iāve probably pulled us way off topic.
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Forgive me if this is somewhere else, but it looks like the developer behind the Fairweather wants a rezoning of up to 12 stories for condos or a boutique hotel at 401 W. Cabarrus.
https://www.newsobserver.com/news/business/article226857454.html
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I can say with Mangum Flats, they arenāt anything special. No marble or any other high end finishes. Theyāre pretty small. I thought they were apartments for college kids. Didnāt know they were condos. The view from the rooftop patio is ok at best, but only if you look towards the skyline.
Also the guy in charge of that constructing it is an idiot, imo, and I wouldnāt ever buy one. And giant metal giraffes are very out of style. /rantover
Thatās correct. Hereās some of what I wrote about the eminent domain settlement with the DOT back in 2017:
The North Carolina Department of Transportation took land that had been earmarked for a planned second apartment building in order to lay railroad tracks that had to be re-routed.
On June 21, the buildingās developer, the residentsā homeowners association, and Wake County reached a $3.95 million settlement with the DOT as compensation for the taking.
The DOT condemned .25 acres of right of way and .21 acres of temporary construction easement owned by Bloomsbury Estates, just enough to preclude the construction of the planned matching second building.
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