**Raleigh Developer Eyeing Hotel, Apartments in Brier Creek**
American Asset Corporation is seeking to amend the permitted uses for an 18-acre property it owns between Brier Creek Corporate Center and Brier Creek Commons Shopping Center. Citing the lack of viability for office development at the site, the company has proposed eliminating office uses, reducing the commercial entitlement, and incorporating 186 hotel rooms and 24 multifamily residential units.
The proposal includes redeveloping six currently vacant parcels into hotel and apartment buildings. Located at 8034 and 8040 Arco Corporate Drive and 3900, 3901, 3911, and 3921 Macaw Street, the parcels are partially forested and carry a combined assessed value of $9.38 million. Current zoning regulations permit buildings of up to 20 stories, a parameter that the developer does not intend to change.
American Asset Corporation has an extensive development history, with over 6 million square feet of commercial property in its portfolio.
