I have no idea what this is, but just checked with Online Development page and a Master Plan for West Cabarrus was filed today. Anyone have any idea what this is associated with? The developer is listed as “Birch”, so I am guessing this is not on the Kane property.
Can you post a link?
Hopefully this will work…
There is usually a delay between a new project popping up on the “Online Development Center” and being able to see the actual document under the “Current Development Activity Page”
I wonder if that’s John Kane’s property he bought by the train station. That’s the only IX-7-UL on that street and it’s about the same size as the 6 acres listed.
400,000 sq ft is quite a bit, but not when you think of six acres though…
It usually takes a few days from when I find something on this search portal, and when a PDF is uploaded onto the other website. I will be checking it everyday until it is up.
This is “Michael Birch” He’s associated with Longleaf Partners. I think he was part of the group that tried to buy (and failed) the News & Observer property. The guy is pretty young and I think the real ‘money guys’ are behind the scenes. I believe those guys are some ‘old school Raleigh boys’ with somewhat deep pockets…though not “Kane deep”. Good thing is they are Raleigh guys. Question is whether they really have the capital to pull off anything substantial…without 40% preleases.
I thought the same thing. That sure as heck doesn’t sound like a lot of density.
An acre is 43,560 ft2 and this is only asking for 66,666 ft2 per acre. What gives here? I sure as heck hope that it’s not a lot of surface parking lot. Perhaps it’s only phase 1 of a multi-phase project? I sure hope that’s the case.
This plot is owned by “West Cabarrus LLC” and with a second owned by that same entity, comes to 2.5 acres total (the other is immediately east). Maybe there is more under a slightly different owner name and this is it…? I guess we’ll find out soon…
Michael Birch is a real estate lawyer at Longleaf Law Partners, he probably is only handling the rezoning and is not involved in ownership.
The property owner is actually “Cabarrus West Property LLC” and the company officials include David Clancy, Joel Clancy, and Andrew Oakley. This property was formerly owned by Clancy & Theys, so I’m assuming they just created a new company for real estate purposes (they did the same with the soon-to-be Kane property across the street).
I live in the neighborhood, and after the meeting with Kane last week, many of us are wondering if this property is the next to be added to the Kane portfolio. The question was posed at the meeting and all Kane reps were coy.
I think you may be correct here. Kane’s property is IX-7-UL, and they’re requesting rezoning to PD (Planned Development).
Clancy & Theys mentioned in the first article about the purchase that they’re not planning to leave the property for many years (4+ years). I’m surprised the paperwork and due diligence is moving this quickly.
Kane said that they expect 20-30 months until the project starts construction, then another two years to complete construction. So it looks like they are moving a little faster or expecting delays in the process.
Bad news for Edison Project and N&O site then. I doubt either project will get off the ground if Kaneland 2.0, 400H, and GoTriangle project get off the ground in the next 3 years.
The development energy on the west side of downtown is really accelerating.
If Kane takes over these two additional Clancy parcels, I hope they reuse/incorporate the brick warehouse at the corner of West and Cabarrus (Capital Tire Company)…it’s pretty cool and creates a sort of extension of the warehouse district. Would make a great brewery space or sprawling restaurant of some sort. Or Co-working space. They could easily wrap apartments around behind it and get a good return (I would think). The whole area is such an important transition between the rest of the 4th ward and downtown that I’d love to see it precede the other projects downtown so long as it’s done well.
3 posts were merged into an existing topic: Development at W Cabarrus/S Saunders, W Cabarrus Master Plan
@ Stew , You are very welcome ! Thanks John for the information !