RALEIGH, N.C. (WNCN) – A massive mixed-use development is months away from opening in Raleigh.
Raleigh Iron Works is located between Atlantic Avenue and Capital Boulevard just south of the Crabtree Creek Trail. Shops, offices and apartments will fill this 18-acre site.
Construction on Phase 1 of the project is currently underway.
This $150 million investment will house:
- 219-unit multi-family apartments
- 184,000 square feet of office space
- 65,000+ square feet of retail space
- 683-space parking deck (plus approximately 275 surface parking spaces)
Construction of this portion should wrap up by mid-2022. People occupying office space will move in during the third quarter of the year. Retail and residential renters will move in early 2023.
The next phase will create another 350,000 square feet of office space and more multi-family residences.
The development will host three main buildings- the Bow Truss, Double Gable, and The Forge.
Jamestown, the real estate firm partnering with Grubb Ventures on Raleigh Iron Works, said the Bow Truss is being renovated to serve as a retail and office building. It will house about 23,000 square feet of ground-floor retail. At least three of those spaces will be dedicated to food and beverage and about seven others are reserved for traditional retail. Jamestown said the second and third floors would be taken up by traditional office space.
The Double Gable Building is also being renovated. It will have a private landscaped courtyard on the first floor, with 14,000 square feet dedicated to retail, food and beverage and 47,000 square feet dedicated to traditional office space. The second floor here is also saved for office space.
Here’s where it gets fun.
Jamestown tells CBS 17 that every office space in that building will have an outdoor terrace space available. An adult slide will help people get from the second floor of the building to a plaza in between Double Gable and the multi-family apartment building.
A pedestrian bridge is under design. It will provide a direct and safe connection to Dock 1053 across the street. Plans for the bridge have not been submitted to the city for approval yet.
The Forge at Raleigh Iron Works will be a new apartment building construction. The focus is on smaller units with 170 of the 219 units designed as micro, studio or one-bedroom floorplans. Square footage will range from 430 to 865 square feet..
Jamestown said renters will be able to choose between two finish schemes with industrial features. Amenities within will include a clubroom with “barcade” and a resident lounge, conference room and co-working spaces. Residents will also have access to a fitness and health center, a saltwater pool, resident lounges, and an outdoor upper-level courtyard for entertaining.