Foreclosure activity on commercial properties is up, lenders take different approaches on delinquent loans
Foreclosure activity on commercial properties is up, lenders take different approaches on delinquent loans
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source.
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source.
Foreclosure activity on commercial properties is up, lenders take different approaches on delinquent loans
Foreclosure activity on commercial properties is up, lenders take different approaches on delinquent loans
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source.
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The national commercial foreclosure market peaked in May, with 752 foreclosures that month, according to one data source.
Atrium Health Building $163M Greensboro MOB
Atrium Health Building $163M Greensboro MOB
Atrium Health Wake Forest Baptist (AHWFB) is kicking off a Greensboro medical campus by building a $163 million medical office building.
Construction is underway on the Winston-Salem health system’s first project on its property at 2909 Horse Pen Creek Road will be a 134,000-square-foot, five-story medical office building.
It’s expected to include a medical office building, surgery center and cancer center. A $30 million ambulatory surgery center will be housed in the building. Expected to open in 2026, the facility will also include a cancer center and specialty clinics in cardiology, gastroenterology, general surgery and orthopaedics and offer services such as imaging, pharmacy and physical therapy.
The hospital opening date is projected in January 2029.
The post Atrium Health Building $163M Greensboro MOB appeared first on Connect CRE.
Atrium Health Wake Forest Baptist (AHWFB) is kicking off a Greensboro medical campus by building a $163 million medical office building. Construction is underway on the Winston-Salem health system’s first project on its property at 2909 Horse Pen Creek Road will be a 134,000-square-foot, five-story medical office building. It’s expected to include a medical office …
The post Atrium Health Building $163M Greensboro MOB appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Atrium Health Wake Forest Baptist (AHWFB) is kicking off a Greensboro medical campus by building a $163 million medical office building. Construction is underway on the Winston-Salem health system’s first project on its property at 2909 Horse Pen Creek Road will be a 134,000-square-foot, five-story medical office building. It’s expected to include a medical office …
The post Atrium Health Building $163M Greensboro MOB appeared first on Connect CRE.
Crosland Helming Publix-Anchored Mixed-Use Project
Crosland Helming Publix-Anchored Mixed-Use Project
A Publix supermarket will anchor a 30-acre Durham mixed-use development that will feature 176 for-sale townhouse units, a 10-acre retail portion, which will include a 42,240-square-foot Publix, 12,580 square feet of retail space, outdoor dining, a courtyard, a food truck terrace and community park.
Crosland Southeast will develop the site, called Latta Park. It will include retail space with room for eight tenants, four of which will be local food and beverage concepts.
The Triangle Business Journal reports Crosland is investing $30 million to develop the retail and perform infrastructure improvements.
The company will start vertical construction on the retail in the first quarter of 2025 with delivery for tenant upfits a year later. The developer is anticipating having businesses open late spring 2026. Pre-leasing has already started.
The post Crosland Helming Publix-Anchored Mixed-Use Project appeared first on Connect CRE.
A Publix supermarket will anchor a 30-acre Durham mixed-use development that will feature 176 for-sale townhouse units, a 10-acre retail portion, which will include a 42,240-square-foot Publix, 12,580 square feet of retail space, outdoor dining, a courtyard, a food truck terrace and community park. Crosland Southeast will develop the site, called Latta Park. It will …
The post Crosland Helming Publix-Anchored Mixed-Use Project appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
A Publix supermarket will anchor a 30-acre Durham mixed-use development that will feature 176 for-sale townhouse units, a 10-acre retail portion, which will include a 42,240-square-foot Publix, 12,580 square feet of retail space, outdoor dining, a courtyard, a food truck terrace and community park. Crosland Southeast will develop the site, called Latta Park. It will …
The post Crosland Helming Publix-Anchored Mixed-Use Project appeared first on Connect CRE.
Images: Kirkwood project gets name, visuals on Memorial Drive
Images: Kirkwood project gets name, visuals on Memorial Drive
Images: Kirkwood project gets name, visuals on Memorial Drive
Josh Green
Mon, 10/28/2024 – 08:15
A residential Kirkwood project is coming into clearer focus that developers say will contribute to Memorial Drive’s metamorphosis as a more walkable, denser, and amenity-rich section of Atlanta.
Empire Communities, a Canada-based homebuilder with active development sites and finished projects dotted across Atlanta, is prepping to start vertical construction on what’s now called “Songbird,” the company’s third project along a few blocks of Memorial Drive on the eastside.
Empire officials say site work is finishing now on 3.6 acres that was formerly the Stanton Grove Baptist Church property at 2011 and 2015 Memorial Drive.
Vertical construction on the first of Songbird’s planned 81 townhomes is scheduled to begin with 60 days. (The project was subjected to an arson attempt in August, according to Atlanta police, that caused brief delays.)
Recent aerial of the Songbird site, with the growing The Moderns townhome project pictured at top. Courtesy of Empire Communities
The Songbird name was inspired by the trees saved on site and a new dedicated greenspace that will be built at the entrance to the townhome community, near Memorial Drive, project officials tell Urbanize Atlanta. A yellow farmhouse near the front of the property, facing Memorial Drive, is also being retained.
All 81 of Songbird’s offerings will be for sale, as opposed to rentals, but information on estimated price ranges wasn’t provided.
By Atlanta standards, none of the townhomes will be especially large—either two or three bedrooms, with between 1,171 and 1,360 square feet—which could be a strategy to keep down costs for potential homebuyers.
Empire officials point to bus transit access into downtown as one selling point of the location. The deep site is situated where Kirkwood meets the Parkview neighborhood.
Empire also developed the rainbow-hued Paintbox community directly across the street.
The acreage in question was annexed into the City of Atlanta in 2021, and the property was later rezoned to the same designation (MR-3) that applied to the Paintbox project, which also replaced a church.
Paintbox—named Attached Community of the Year by the Greater Atlanta Home Builders Association in 2021—has earned an average of 20 percent increase in values for current townhome owners, Empire leaders noted this week.
For the Songbird project, Empire officials have said they participated in more than seven meetings, collaborated with Kirkwood Neighbors Organization, and worked with adjacent property owners before applying for the rezoning. KNO leadership previously told Urbanize Atlanta the neighborhood governing board stressed to Empire the Memorial Drive venture should be both walkable and safe for cyclists, environmentally sustainable with shade, greenspace, and native plantings, and respectful of neighboring tree canopies and connections to the broader community.
Elsewhere along Memorial Drive, Empire previously built a single-family home community called Bixton across the street from Drew Charter School.
The company’s latest intown bet will add to a stock of hundreds of new townhomes in the pipeline now or recently developed along the Memorial Drive corridor.
The 2011 and 2015 Memorial Drive location, east of downtown, where Kirkwood meets the Parkview neighborhood. Google Maps
The two Songbird floorplans currently offered:
………………………………………….
Overview of the former Stanton Grove Baptist Church property along Memorial Drive, looking south. The 62-unit The Moderns townhome project is shown at left while under construction. Google Maps
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Kirkwood news, discussion (Urbanize Atlanta)
Images: Kirkwood project gets name, visuals on Memorial Drive
Josh Green
Mon, 10/28/2024 – 08:15
A residential Kirkwood project is coming into clearer focus that developers say will contribute to Memorial Drive’s metamorphosis as a more walkable, denser, and amenity-rich section of Atlanta.
Empire Communities, a Canada-based homebuilder with active development sites and finished projects dotted across Atlanta, is prepping to start vertical construction on what’s now called “Songbird,” the company’s third project along a few blocks of Memorial Drive on the eastside.
Empire officials say site work is finishing now on 3.6 acres that was formerly the Stanton Grove Baptist Church property at 2011 and 2015 Memorial Drive.
Vertical construction on the first of Songbird’s planned 81 townhomes is scheduled to begin with 60 days. (The project was subjected to an arson attempt in August, according to Atlanta police, that caused brief delays.)
Songbird floorplan called the Maxwell basement. Courtesy of Empire Communities
Recent aerial of the Songbird site, with the growing The Moderns townhome project pictured at top. Courtesy of Empire Communities
The Songbird name was inspired by the trees saved on site and a new dedicated greenspace that will be built at the entrance to the townhome community, near Memorial Drive, project officials tell Urbanize Atlanta. A yellow farmhouse near the front of the property, facing Memorial Drive, is also being retained.
All 81 of Songbird’s offerings will be for sale, as opposed to rentals, but information on estimated price ranges wasn’t provided.
By Atlanta standards, none of the townhomes will be especially large—either two or three bedrooms, with between 1,171 and 1,360 square feet—which could be a strategy to keep down costs for potential homebuyers.
Empire officials point to bus transit access into downtown as one selling point of the location. The deep site is situated where Kirkwood meets the Parkview neighborhood.
Empire also developed the rainbow-hued Paintbox community directly across the street.
Facades for the Addison floorplan, the largest of two being offered. Courtesy of Empire Communities
Arrangement of the 81 townhomes bound for Memorial Drive. Courtesy of Empire Communities
The acreage in question was annexed into the City of Atlanta in 2021, and the property was later rezoned to the same designation (MR-3) that applied to the Paintbox project, which also replaced a church.
Paintbox—named Attached Community of the Year by the Greater Atlanta Home Builders Association in 2021—has earned an average of 20 percent increase in values for current townhome owners, Empire leaders noted this week.
For the Songbird project, Empire officials have said they participated in more than seven meetings, collaborated with Kirkwood Neighbors Organization, and worked with adjacent property owners before applying for the rezoning. KNO leadership previously told Urbanize Atlanta the neighborhood governing board stressed to Empire the Memorial Drive venture should be both walkable and safe for cyclists, environmentally sustainable with shade, greenspace, and native plantings, and respectful of neighboring tree canopies and connections to the broader community.
Elsewhere along Memorial Drive, Empire previously built a single-family home community called Bixton across the street from Drew Charter School.
The company’s latest intown bet will add to a stock of hundreds of new townhomes in the pipeline now or recently developed along the Memorial Drive corridor.
The 2011 and 2015 Memorial Drive location, east of downtown, where Kirkwood meets the Parkview neighborhood. Google Maps
The two Songbird floorplans currently offered:
Empire Communities
………………………………………….
Empire Communities
Overview of the former Stanton Grove Baptist Church property along Memorial Drive, looking south. The 62-unit The Moderns townhome project is shown at left while under construction. Google Maps
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Kirkwood news, discussion (Urbanize Atlanta)
Tags
2015 Memorial Drive
Empire Memorial
Empire Communities
Atlanta Townhomes
Empire Paintbox
Stanton Grove Baptist Church Property
Parkview
Kirkwood Neighbors Organization
KNO
Memorial Drive
Atlanta Development
Atlanta Housing
Atlanta Churches
Blockbuster Video
Home + Made
Empire Songbird
Songbird
Townhomes for sale
Kirkwood Development
Images
The 2011 and 2015 Memorial Drive location, east of downtown, where Kirkwood meets the Parkview neighborhood. Google Maps
Two residential structures with the former church tucked behind, as seen in December 2021. The yellow farmhouse will remain standing, according to developers. Google Maps
Overview of the former Stanton Grove Baptist Church property along Memorial Drive, looking south. The 62-unit The Moderns townhome project is shown at left while under construction. Google Maps
Facades for the Addison floorplan, the largest of two being offered. Courtesy of Empire Communities
Empire Communities
Songbird floorplan called the Maxwell basement. Courtesy of Empire Communities
Empire Communities
Recent aerial of the Songbird site, with the growing The Moderns townhome project pictured at top. Courtesy of Empire Communities
Arrangement of the 81 townhomes bound for Memorial Drive. Courtesy of Empire Communities
Subtitle
81-home “Songbird” development has consumed former church property
Neighborhood
Kirkwood
Background Image
Image
Associated Project
2015 Memorial Drive
Before/After Images
Sponsored Post
Off Read More
Images: Kirkwood project gets name, visuals on Memorial Drive
Josh Green
Mon, 10/28/2024 – 08:15
A residential Kirkwood project is coming into clearer focus that developers say will contribute to Memorial Drive’s metamorphosis as a more walkable, denser, and amenity-rich section of Atlanta.
Empire Communities, a Canada-based homebuilder with active development sites and finished projects dotted across Atlanta, is prepping to start vertical construction on what’s now called “Songbird,” the company’s third project along a few blocks of Memorial Drive on the eastside.
Empire officials say site work is finishing now on 3.6 acres that was formerly the Stanton Grove Baptist Church property at 2011 and 2015 Memorial Drive.
Vertical construction on the first of Songbird’s planned 81 townhomes is scheduled to begin with 60 days. (The project was subjected to an arson attempt in August, according to Atlanta police, that caused brief delays.)
Songbird floorplan called the Maxwell basement. Courtesy of Empire Communities
Recent aerial of the Songbird site, with the growing The Moderns townhome project pictured at top. Courtesy of Empire Communities
The Songbird name was inspired by the trees saved on site and a new dedicated greenspace that will be built at the entrance to the townhome community, near Memorial Drive, project officials tell Urbanize Atlanta. A yellow farmhouse near the front of the property, facing Memorial Drive, is also being retained.
All 81 of Songbird’s offerings will be for sale, as opposed to rentals, but information on estimated price ranges wasn’t provided.
By Atlanta standards, none of the townhomes will be especially large—either two or three bedrooms, with between 1,171 and 1,360 square feet—which could be a strategy to keep down costs for potential homebuyers.
Empire officials point to bus transit access into downtown as one selling point of the location. The deep site is situated where Kirkwood meets the Parkview neighborhood.
Empire also developed the rainbow-hued Paintbox community directly across the street.
Facades for the Addison floorplan, the largest of two being offered. Courtesy of Empire Communities
Arrangement of the 81 townhomes bound for Memorial Drive. Courtesy of Empire Communities
The acreage in question was annexed into the City of Atlanta in 2021, and the property was later rezoned to the same designation (MR-3) that applied to the Paintbox project, which also replaced a church.
Paintbox—named Attached Community of the Year by the Greater Atlanta Home Builders Association in 2021—has earned an average of 20 percent increase in values for current townhome owners, Empire leaders noted this week.
For the Songbird project, Empire officials have said they participated in more than seven meetings, collaborated with Kirkwood Neighbors Organization, and worked with adjacent property owners before applying for the rezoning. KNO leadership previously told Urbanize Atlanta the neighborhood governing board stressed to Empire the Memorial Drive venture should be both walkable and safe for cyclists, environmentally sustainable with shade, greenspace, and native plantings, and respectful of neighboring tree canopies and connections to the broader community.
Elsewhere along Memorial Drive, Empire previously built a single-family home community called Bixton across the street from Drew Charter School.
The company’s latest intown bet will add to a stock of hundreds of new townhomes in the pipeline now or recently developed along the Memorial Drive corridor.
The 2011 and 2015 Memorial Drive location, east of downtown, where Kirkwood meets the Parkview neighborhood. Google Maps
The two Songbird floorplans currently offered:
Empire Communities
………………………………………….
Empire Communities
Overview of the former Stanton Grove Baptist Church property along Memorial Drive, looking south. The 62-unit The Moderns townhome project is shown at left while under construction. Google Maps
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Kirkwood news, discussion (Urbanize Atlanta)
Tags
2015 Memorial Drive
Empire Memorial
Empire Communities
Atlanta Townhomes
Empire Paintbox
Stanton Grove Baptist Church Property
Parkview
Kirkwood Neighbors Organization
KNO
Memorial Drive
Atlanta Development
Atlanta Housing
Atlanta Churches
Blockbuster Video
Home + Made
Empire Songbird
Songbird
Townhomes for sale
Kirkwood Development
Images
The 2011 and 2015 Memorial Drive location, east of downtown, where Kirkwood meets the Parkview neighborhood. Google Maps
Two residential structures with the former church tucked behind, as seen in December 2021. The yellow farmhouse will remain standing, according to developers. Google Maps
Overview of the former Stanton Grove Baptist Church property along Memorial Drive, looking south. The 62-unit The Moderns townhome project is shown at left while under construction. Google Maps
Facades for the Addison floorplan, the largest of two being offered. Courtesy of Empire Communities
Empire Communities
Songbird floorplan called the Maxwell basement. Courtesy of Empire Communities
Empire Communities
Recent aerial of the Songbird site, with the growing The Moderns townhome project pictured at top. Courtesy of Empire Communities
Arrangement of the 81 townhomes bound for Memorial Drive. Courtesy of Empire Communities
Subtitle
81-home “Songbird” development has consumed former church property
Neighborhood
Kirkwood
Background Image
Image
Associated Project
2015 Memorial Drive
Before/After Images
Sponsored Post
Off
Lake Norman Rental Asset Trades for $76M
Lake Norman Rental Asset Trades for $76M
Blue Heron Asset Management acquired a Lake Norman apartment complex for $76 million. RL West and Langtree Development were the sellers of the Langtree Lake Norman, a 300-unit midrise multifamily project in Mooresville. Berkadia brokered the deal.
LangTree Lake Norman includes approximately 48,000 square feet of ground-floor retail space with a mix of local and regional tenants. The joint venture retained ownership of Buildings 105 and 106 along Langtree Road and the commercial buildings fronting Mecklynn Road.
Blue Heron plans to upgrade the apartment unit interiors, which have remained largely untouched since their construction in 2013. The buyer assumed the existing HUD loan as part of the transaction.
Located at 150 Landing Drive, LangTree Lake Norman features a clubhouse, a swimming pool, a fitness center, and a dog park.
Langtree Development Company was represented by Caleb Troop and Thomas Colaiezzi of Berkadia Charlotte, along with Brian Long of RL West.
The post Lake Norman Rental Asset Trades for $76M appeared first on Connect CRE.
Blue Heron Asset Management acquired a Lake Norman apartment complex for $76 million. RL West and Langtree Development were the sellers of the Langtree Lake Norman, a 300-unit midrise multifamily project in Mooresville. Berkadia brokered the deal. LangTree Lake Norman includes approximately 48,000 square feet of ground-floor retail space with a mix of local and …
The post Lake Norman Rental Asset Trades for $76M appeared first on Connect CRE. Atlanta & Southeast Commercial Real Estate News Read More
Blue Heron Asset Management acquired a Lake Norman apartment complex for $76 million. RL West and Langtree Development were the sellers of the Langtree Lake Norman, a 300-unit midrise multifamily project in Mooresville. Berkadia brokered the deal. LangTree Lake Norman includes approximately 48,000 square feet of ground-floor retail space with a mix of local and …
The post Lake Norman Rental Asset Trades for $76M appeared first on Connect CRE.
Wellstone Taps Group to Redevelop Atlanta Medical Center Site
Wellstone Taps Group to Redevelop Atlanta Medical Center Site
Wellstone Health System has brought in The Integral Group to spearhead the effort to redevelop the shuttered Atlanta Medical Center. Construction will begin in the next few weeks.
The 22-acre campus vision includes a mixed-use neighborhood with affordable housing, residential properties, community and public green space, neighborhood-level retail, new street access, commercial uses, and health and well-being resources.
Over the next few weeks, Integral will develop an implementation plan and engage with neighbors and community stakeholders to gather further feedback. The revitalization effort will take place in phases over several years, with community input at every stage. In response to the neighborhood’s desire to see progress quickly, Integral expects to apply for permits soon with the goal of beginning the demolition of certain aging structures in the first quarter of 2025.
Wellstar closed Atlanta Medical Center in November 2022. Wellstar blamed the closure on falling revenue and increasing costs for staff and supplies.
The post Wellstone Taps Group to Redevelop Atlanta Medical Center Site appeared first on Connect CRE.
Wellstone Health System has brought in The Integral Group to spearhead the effort to redevelop the shuttered Atlanta Medical Center. Construction will begin in the next few weeks. The 22-acre campus vision includes a mixed-use neighborhood with affordable housing, residential properties, community and public green space, neighborhood-level retail, new street access, commercial uses, and health …
The post Wellstone Taps Group to Redevelop Atlanta Medical Center Site appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News
Wellstone Health System has brought in The Integral Group to spearhead the effort to redevelop the shuttered Atlanta Medical Center. Construction will begin in the next few weeks. The 22-acre campus vision includes a mixed-use neighborhood with affordable housing, residential properties, community and public green space, neighborhood-level retail, new street access, commercial uses, and health …
The post Wellstone Taps Group to Redevelop Atlanta Medical Center Site appeared first on Connect CRE.
Atlanta Industrial Sector Showing Strength
Atlanta Industrial Sector Showing Strength
Avison Young’s Q3 2024 Atlanta industrial market report was recently released. Here are some of the highlights:
Leasing activity increased by 17.5% year-over-year to 9.4 million square feet in Q3, the highest it has been since 2022.
Q3 2024 saw the highest amount of square footage leased than any quarter since Q4 2022.
The increase in activity has also powered an 80% increase in absorption since last quarter.
Groundbreakings for new construction projects are down over 80% compared to the peak of development in 2021.
27 buildings, totaling 7.7 million square feet, broke ground in 2024, compared to 125 buildings, totaling 40.3 million square feet, that broke ground in 2021.
With vacancy rates continuing to rise, slowing the development pipeline should improve the overall health of the Atlanta industrial market.
Leases less than 50,000 square feet accounted for 54% of deals signed during Q3 2024.
The post Atlanta Industrial Sector Showing Strength appeared first on Connect CRE.
Avison Young’s Q3 2024 Atlanta industrial market report was recently released. Here are some of the highlights:
The post Atlanta Industrial Sector Showing Strength appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News
Avison Young’s Q3 2024 Atlanta industrial market report was recently released. Here are some of the highlights:
The post Atlanta Industrial Sector Showing Strength appeared first on Connect CRE.
Stoltz Acquires Atlanta/Nashville Warehouse Portfolio
Stoltz Acquires Atlanta/Nashville Warehouse Portfolio
CBRE has arranged $188.3 million in financing for the acquisition of a 24-building, 1.9 million-square-foot infill industrial portfolio located throughout Atlanta and Nashville. The borrower was Stoltz Real Estate Partners. The financing was secured through Starwood Property Trust.
The assets within the portfolio, which range in size from 12,600 square feet to 222,683 square feet and were built between 1974 and 1998, are 93% leased to 80 tenants with a weighted average lease term of 3.6 years.
The portfolio comprises 17 assets across three submarkets in Atlanta totaling 1,051,187 square feet and 65 tenants. The properties are located in last-mile locations throughout the Atlanta MSA, serving 6.2 million people in the eighth-largest MSA in the country. Seven of the assets were in the Nashville area, totaling 866,053 square feet and 15 tenants across three submarkets.
Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrower.
The post Stoltz Acquires Atlanta/Nashville Warehouse Portfolio appeared first on Connect CRE.
CBRE has arranged $188.3 million in financing for the acquisition of a 24-building, 1.9 million-square-foot infill industrial portfolio located throughout Atlanta and Nashville. The borrower was Stoltz Real Estate Partners. The financing was secured through Starwood Property Trust. The assets within the portfolio, which range in size from 12,600 square feet to 222,683 square feet and …
The post Stoltz Acquires Atlanta/Nashville Warehouse Portfolio appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
CBRE has arranged $188.3 million in financing for the acquisition of a 24-building, 1.9 million-square-foot infill industrial portfolio located throughout Atlanta and Nashville. The borrower was Stoltz Real Estate Partners. The financing was secured through Starwood Property Trust. The assets within the portfolio, which range in size from 12,600 square feet to 222,683 square feet and …
The post Stoltz Acquires Atlanta/Nashville Warehouse Portfolio appeared first on Connect CRE.
Construction Underway on New $206M Raleigh City Hall
Construction Underway on New $206M Raleigh City Hall
Work is heating up at the site for the East Civic Tower, the new city hall complex at the corner of Hargett and McDowell streets across from Nash Square. The site is next to the city’s current municipal complex.
The Triad Business Journal reports the project, which broke ground last summer, has a $206 million budget and calls for a 17-story building that will house the City Council chambers as well as office space and conference rooms for city departments.
The tower will allow the city to consolidate most of its operations and staff into a single building. The design of the building is led by Ratio. The contractors are Brasfield & Gorrie and Holt Brothers Construction.
The building will be 370,000 square feet and is expected to be complete in 2026. Back in 2018, the City Council approved a master plan for a new civic campus that called for three buildings on the block — the others would replace the municipal building and the City Park garage.
The post Construction Underway on New $206M Raleigh City Hall appeared first on Connect CRE.
Work is heating up at the site for the East Civic Tower, the new city hall complex at the corner of Hargett and McDowell streets across from Nash Square. The site is next to the city’s current municipal complex. The Triad Business Journal reports the project, which broke ground last summer, has a $206 million budget …
The post Construction Underway on New $206M Raleigh City Hall appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Work is heating up at the site for the East Civic Tower, the new city hall complex at the corner of Hargett and McDowell streets across from Nash Square. The site is next to the city’s current municipal complex. The Triad Business Journal reports the project, which broke ground last summer, has a $206 million budget …
The post Construction Underway on New $206M Raleigh City Hall appeared first on Connect CRE.