by William Needham Finley IV™

Development Beat: Retail Planned For Five Points

in Development by

Brought to you by York Properties

Five Points mixed-use development planned

Forty stories approved for Fayetteville Street

Seaboard Wine Tasting (11/16)

Taco Roos coming to Raleigh

Caswell Square demolition

Wade Avenue exit to shut down for two years

Jones Sausage development

Other News

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Mixed-Use Coming To Five Points

Over three acres of an old warehouse development near Five Points could soon be transformed into a mixed-use project that will include office and retail use. 

The site at 1501 Sunrise Avenue was acquired in September by 5 Points Railyard LLC, which was formed in July by Capital Associates, a full-service commercial real estate company based in Raleigh. The LLC recently filed an “administrative site review application” describing their scope of work as “Conversion of existing warehouse facility to office, retail, and warehouse facility with associated parking and site improvements.” 

A real estate listing describes the property as consisting of “two parcels totaling 3.02 acres. The warehouse building sits on 2.35 acres and was constructed in 1954. The building is 98-percent leased and features first floor warehouse space and basement spaces. Both parcels are zoned IX-3 and allows multiple uses including multi-unit living, office, medical, retail, warehouse and distribution, and light industrial/manufacturing.”

The property is located near Larry’s Coffee, Neuse River Brewing, Nickelpoint Brewing, and the CubeSmart Storage facility that almost caused a neighborhood riot a few years ago. What type of office and retail can we expect? We’re still investigating, but we have some theories based on what the surrounding area would support.

Bed & Brewery – while Trophy Brewing, Montfort Hall, and Guest House Raleigh are great additions to Raleigh, why has no one combined the two ideas? There has GOT to be a young couple in Raleigh that’s ready to turn this quaint warehouse into a bed and breakfast that’s also a brewery. Guests would learn more about the brewing process 24/7, as their beds would be located inside the brewing facility. You can’t truly understand how beer is made until you smell the fermentation process at 3:00 am.

Co-WorkOut – Raleigh has some great co-working spaces that provide office space for a variety of businesses. But none of these spaces provide exercise equipment. We also have a plethora of fitness options, from barre classes to spin classes. Again, why has no one combined the two? Co-WorkOut would provide office space and fitness classes under the same roof.

If you are interested in opening your own Bed & Brewery or Co-WorkOut, please contact our attorney Stacy Miller for franchising opportunities.

We’ll keep you posted as soon as we know more about what is actually planned for the space.

Forty Stories Approved On Fayetteville

City Council approved a rezoning case that will allow a historic block along Fayetteville Street to be developed up to 40 stories in height. 

The request was filed by the Morningstar Law Group on behalf of a group referred to as the “Fayetteville Block Owners.” They sought to rezone nine parcels comprising about 1.27 acres from Downtown Mixed Use with a height cap of 5-7 stories, to Downtown Mixed Use with a height cap of 40 stories. In 2015, the City Council had capped the height of buildings in that area of downtown to no more than seven stories for some properties, and five for others.

The parcels in the rezoning request include a number of historic buildings such as the Briggs Hardware building, Kimbrell’s Furniture, and the Boylan-Pearce. All of these buildings will be destroyed immediately. Before you go and start an online petition and social media accounts to save them, we’re just kidding. One of the conditions on the rezoning states that the existing facades on the historic buildings be kept in place.

The newly approved rezoning includes the buildings at 208 Fayetteville, 218-234 Fayetteville, as well as 19 W. Hargett and 14 W. Martin. No redevelopment plans for any of these sites have been filed, although now that the rezoning has been approved, we imagine it won’t be long before the site plans start flowing.

Seaboard Wine Tasting 11/16

Our friends at Seaboard Wine at HighPark Village are hosting a free wine tasting this Saturday. Stop by from 1:00 pm – 4:00 pm and sample some great wines.

Seaboard Wine’s 23rd Annual Champagne Tasting will be held on December 4th and 5th from 7:00 pm to 8:30 pm or 7:30 pm to 9:00 pm. They will be sampling Champagne and sparkling wines from around the world. Admission is $39 per person. Visit their Eventbrite to reserve your date and time.

Taco Roos Coming To Raleigh

A mysterious new taco restaurant, whose plans to open shop in Wilmington have sparked numerous conspiracy theories and even a write-up in the Wilmington Star News, has set its sights on Raleigh.

We were recently sent over some architectural documents for a project named “Taco Roos” that’s set to open in the home of a former KFC at 1221 New Bern Avenue. The documents list the project’s owner as a representative from North Carolina’s own Cook-Out.

Per that Wilmington Star article, the Roo’s location near UNC Wilmington was described as a “breakfast diner and Mexican fast food” restaurant. The article states, “A corporate official from Cook-Out who handles media relations said the company is in the midst of a “media blackout” on the subject of Taco Roo’s, and said he could not “confirm or deny anything.”

The Wilmington location is set to open in November, and may shed some light on what we can expect for the Raleigh location. The building at 1221 New Bern was originally built in 1998, and was acquired in 2018 by an LLC tied to Cook-Out.

We imagine work will start on the renovation within a few months, and it’s possible the restaurant could be open as early as the Spring of 2020. Whatever sort of restaurant Roos ends up being, its connection, however tenuous, to Cook-Out has already got our mouths watering. 

Caswell Square Demolition

It’s been a few months since we last wrote about the planned demolition of several historic buildings at Caswell Square in Downtown Raleigh. The State is now seeking a demolition contractor to come in and finish the job. 

In a bid put out last month, the North Carolina Department of Administration announced it would accept proposals through December 10 for the “demolition of two buildings on Caswell Square at the corner of N. Dawson and Lane Street.” The two buildings are described as the Old Steam Plant and the Old Film Library.

In 2016, talks were underway for the site to be redeveloped, although this eventually fell through. Leo Suarez at the Raleigh Connoisseur did a great writeup on Caswell Square at the time.

There are currently no plans for the site that we know of, and the demolition solicitation only notes that the site will be “graded and sodded” following the teardown.


Wade Avenue Ramp Closed For Two Years

The Wade Avenue 500 is about to get even more intense. The ramp from 440 West to eastbound Wade Avenue is closed, and will remain closed for TWO MORE YEARS. Drivers will be directed to exit onto Hillsborough Street, which isn’t really a solution. Our prediction is that this project will actually take 3 to 10 years, based on the DOT’s track record.


Jones Sausage Development

An Alabama-based developer plans to bring a new retail outlet to a vacant site on Jones Sausage Road. Site review plans were filed for a new 6,700 square-foot “retail sale” building to be built at 3900 Jones Sausage Road. 

The plans don’t go into great detail on the future of the 3+ acre site, although it does sound like the developer, Capital Growth Buchalter, will act more as a landlord than a tenant. If you build it, they will come, etc. 

We’ll be sure to keep an eye out for any permits that help shed light on who will be moving in.

Other News

ITBlake Learns How To Wash Cars And Be A Penguin Mascot

Attention: I'm pleased to launch our new series "ITBlake tries to find a job." In our first episode, ITBlake washes my car with LaCroix and wears a penguin costume from Spiffy. Our friends at Spiffy – On-Demand Car Care are offering $20 off a full wash or detail, or $10 off oil changes when you use code "ITB" at checkout. Be sure to give ITBlake a rating of 1-4 beltlines. Here's the full story:

Posted by ITB Insider on Monday, June 11, 2018

Congrats to Spiffy on their recent acquisition of Your Location Lubrication. While we’re glad to see them grow, we’re really just covering this as an excuse to post the video of ITBlake in a penguin mascot suit.

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to and affiliated sites.

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