New Development Activity in the area

Discussion in 'Discussion Group' started by jesse82nc, Aug 14, 2020.

  1. markfnc

    markfnc Well-Known Member

  2. markfnc

    markfnc Well-Known Member

  3. markfnc

    markfnc Well-Known Member

    Lidl got all their final inspections approved om March 30. I heard they wont open until June/July due to equipment delivery issues.
  4. markfnc

    markfnc Well-Known Member

    The space between Lidl and Eggs Up Grill is a consignment store called Kid to Kid. That is the last space of the former Kroger's
    jesse82nc likes this.
  5. jesse82nc

    jesse82nc Well-Known Member

    A local investment firm led by a prominent leader in real estate is backing a nearly 300-acre project in east Raleigh calling for hundreds of homes.

    APG Capital provided the equity for Landeavor, a Florida-based developer, to acquire the land along Buffaloe and Robertson Grove roads, according to Wake County property records. Landeavor is the development partner on the project, which is called River Towne.

    Landeavor had the property rezoned for up to 1,000 homes in August 2022. The site was previously owned by Charlotte developer Southeast Land Management, which acquired it as part of a larger assemblage for more than $3 million in 2013.

    Deed records don't reflect a sale price for the most recent transaction. The property has an assessed value of more than $6.8 million

    The land is at 2509 and 2521 Robertson Grove Road and includes portions of 8301 and 8317 Buffaloe Road. It is 307 acres and will have up to 981 single-family and townhome lots. The lots are under contract with three national and regional homebuilders to construct the homes. Jim Anthony, founder and CEO of APG, said the company could not yet disclose who the homebuilders are.

    “That was another major selling point for this deal. Not only was the site fully entitled, but most of the lots are already under contract to these homebuilders,” Anthony said.

    The large residential project moving forward is a positive sign for the local housing market. Since late last year, some major homebuilders have been walking from deals due to the slowdown in the housing market.

    Luxury builder no longer part of 500-home project outside Raleigh

    Site work is expected to be complete by the end of 2023 and infrastructure construction will start in 2024. The builders will be able to start work on the homes by the end of 2024. The companies anticipate it taking five to seven years to sell all the lots to the builders – which could generate an estimated $90 million in gross lot sales.

    The new development will feature a mix of housing types: 272 townhomes, 260 single-family detached and attached homes, 212 age-targeted ranches, 126 duplexes and 90 cottage court units. Community amenities include a clubhouse and at least two of the following: pool, playground, tennis court and ball field. There are also plans to add walking trails.

    River Towne will also have a future multifamily development that will sit on 17 acres fronting Buffaloe Road and have up to 350 units. Anthony said the company will either develop it or find a joint venture partner for it. The multifamily component will be planned out over the next year or two as the company wants to continue its focus on the site work for the single-family lots.

    Landeavor developed the 12 Oaks community and Vineyards at Chatham Park in the Triangle and owns more than $130 million worth of land in the Southeast.

    APG Capital also has developed many projects in the Triangle, including its 300-unit Edgewater Commons and a 45,000-square-foot commercial mixed-use project in Holly Springs.!3m1!1e3!4m4!3m3!8m2!3d35.84156!4d-78.482024
    tassy and markfnc like this.
  6. jesse82nc

    jesse82nc Well-Known Member

  7. Aqdillman71

    Aqdillman71 Member

    Looks like it was put on hold last Sepetember and Amazon said they were targeting a Spring 2023 opening. I drove by the site two weeks ago and it was still dead. Now that we are nearly into Summer, I wonder if it will open at all or just dealyed even longer? We'll see. Does anyone know anything else?

    tassy likes this.
  8. markfnc

    markfnc Well-Known Member

    I know a Smithfield bldg. inspector. He said they is still a limited crew in there working on the robotics.
    Last edited: Apr 24, 2023
    tassy and BuzzMyMonkey like this.
  9. jesse82nc

    jesse82nc Well-Known Member

    River Mews is up for zoning approval tonight for the planning board.

    River Mews is planned as a mixed use residential conditional district consisting of a maximum of 825 units, designed to the Conditional District standards of the Town of Clayton Unified Development Code. River Mews will provide a variety of housing choices for future residents as well as well-designed and multi-functional recreational amenities. The development will establish pedestrian connections along the eastern portion of the site bordering the Neuse River and connecting to key amenities, while preserving a significant amount of Resource Conservation Area (RCA) comprised of floodplain, wetlands, riparian buffers, and steep slopes. Additionally, River Mews includes a +/- 13 acre Non-residential POD established to support an intended Event Venue or Hotel/Motel/Bed & Breakfast use.

    upload_2023-4-24_8-28-43.png 2023-04-24_08-30-43.jpg!3m1!1e3!4m4!3m3!8m2!3d35.651509!4d-78.41278
  10. jesse82nc

    jesse82nc Well-Known Member

    Of note, this was approved by the planning board tonight.
  11. Aqdillman71

    Aqdillman71 Member

    No timeline as to when they plan to break ground?
  12. jesse82nc

    jesse82nc Well-Known Member

    For River Mews? It still needs Town Council approval. That will probably be sometime in May. After that, they still need to finish some permits and get contracts going. Best case would probably be this Summer. But there's a chance you wouldn't see the first house until Summer 2024.
  13. Shawn S

    Shawn S Member

    What’s the latest timeline on the 540 progress from I40 going west?
    I saw a couple of recent drone videos and they’re actually paving some sections while other sections are just dirt.
    And they’ve been cutting trees down off of White Oak rd near Raynor rd and I didn’t think that section of 540 going north was scheduled to start until 2029.
  14. jesse82nc

    jesse82nc Well-Known Member

    The lastest plan I have seen still shows the new 540 opening to traffic sometime in 2024.

    For the White Oak property, I think DOT just wanted to harvest the trees. They bought the property last year I think. Design Build contracts are to be issued in 2025.
  15. Aqdillman71

    Aqdillman71 Member

    Does anyone know what is being built at the intersection of Shotwell Rd. & Old U.S. 70 Hwy? This is Clayton, near the Driver's License office.
  16. markfnc

    markfnc Well-Known Member

    Boot Barn is moving into old Citi Trends store at Garner Town Square.
    BuzzMyMonkey likes this.
  17. BuzzMyMonkey

    BuzzMyMonkey Well-Known Member

    Good !!!
  18. jesse82nc

    jesse82nc Well-Known Member

    A Raleigh real estate firm focused on apartment complexes is making more investments in Johnston County.

    An LLC addressed to the Kenney Companies purchased 21.97 acres in Johnston County for $3.5 million, according to a deed filed April 25. The purchase price comes out to just under $160,000 an acre.

    The land sits at the corner of N.C. Highway 42 West and Cornwallis Road near the Wake-Johnston County border.

    Demand for apartments is soaring in Johnston County as the area's population booms. In Clayton, this year the Town Council has approved a project that will include up to 234 new units and rejected another it thought would put too much strain on local infrastructure.

    And a huge development in Smithfield calls for hundreds of apartments plus single-family homes and townhomes.

    It's not clear what exactly the Kenney Companies is planning for the land, as the company did not respond to multiple requests for comment.

    The Kenney Companies is a fully integrated apartment developer involved in the site selection, development, building and operating of apartment complexes. The company's footprint began in the Triangle and has since expanded to South Carolina, Tennessee and Georgia, according to its website.

    The company's portfolio includes the Amelia Village apartments in Clayton, with 256 units – rents there range from $1,199 to $1,499 per month, according to It also lists three properties in Raleigh and one one in Holly Springs.

    Last edited: May 8, 2023
  19. lgb0250

    lgb0250 Well-Known Member

    I thought this piece had been bought a couple of years ago and was to be a commercial project anchored by a new grocery store!
    Rockyv58 likes this.
  20. jesse82nc

    jesse82nc Well-Known Member

    Was just a rumor and nothing ever got finalized.
    Rockyv58 and lgb0250 like this.

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