There is an exciting new development that could be coming to the greater Raleigh area soon.
Evidently, developers are planning a major infill redevelopment project that would bring a mix of high-end retail, offices, apartments and a hotel to the Crabtree Valley area.
According to the article I was reading, the project would come to a 42-acre site along one of the busiest stretches of Glenwood Avenue. Known as Glenwood Place, it would be a transformative development along the street.
Continue reading to learn more about this exciting development!
What Else You Should Know About This Development in Raleigh
The article I was recently reading noted that the property along Glenwood where this development would go is currently owned by developer Gordon Grubb’s company, Grubb Ventures.
Grubb Ventures is partnering with Charlotte-based Lincoln Harris to create a mixed-use development that would include:
- Large offices
- Retail space
- And more!
These types of mixed-use developments are gaining popularity all across the country and are sure to be successful here in Raleigh.
Preliminary plans for Glenwood Place call for 140,000 square feet of retail and more than half a million square feet of office space.
A 292-unit apartment complex is also in the works.
What Do You Think of This Proposed Raleigh Development?
I would love to hear your thoughts!
I personally think that this new development is going to help the entire surrounding community because it’s going to make the area seem even more attractive to investors and it’s also going to give current residents one more amenity to enjoy.
Thinking About Buying or Selling Raleigh Real Estate Yourself?
If so, please contact me, Rachel Kendall, and the rest of my Wake County real estate team. I would love to assist you by answering any questions you may have as well as providing you with valuable resources. Whether you’re a buyer or seller, we’ll work hard to get you a favorable outcome on the local housing market.
Until next time,