RALEIGH, N.C. (WNCN) – A developer behind of Raleigh’s high-rise developments is announcing plans for another project.
Kane Realty Corporation says they’ve submitted plans to the city for West End II. This will be their second
mixed-use development in the West End- adjacent to downtown Raleigh’s Warehouse District. The Warehouse District has seen about $1.4 billion worth of investments in since 2015.
If approved, West End II would span two acres at the corner of S. West Street and W. Cabarrus Street. Kane Realty is planning for 4,000 square feet of ground level retail, two stories of parking topped with five floors of apartments. The building would 240 apartment units and 290 parking spaces.
Groundbreaking is slated for Summer 2023, with construction anticipated to be complete in Spring 2025.
Demand remains high for downtown apartments. Even with rents averaging more than $1,800 per month, occupancy rates sit at 95 percent, according to the Downtown Raleigh Alliance.
West End II will neighbor, West End- scheduled to open in Jan. 2024. That project will hold 26,000 square feet of ground-floor retail and be topped by six floors of apartments. The apartment community, Platform, will hold 442-unit. It is currently under construction on W. Cabarrus St., adjacent to Raleigh Union Station in Raleigh’s West End. A parking deck is also included in this development.
“West End is a vibrant neighborhood with a fantastic variety of locally owned businesses. Between
Platform and this newest development, we are thrilled to introduce even more options to live, work,
dine, and shop in Downtown’s West End,” said Bonner Gaylord, Chief Operating Officer at Kane Realty Corporation.
The two projects from Kane are just two of the more than 50 currently undergoing site preparation, under construction, planned or proposed. They total $4.6 million worth of investments, according to DRA.