Elmwood Development has successfully acquired all necessary lots in Downtown Raleigh for its upcoming 12-story building project. According to the Triad Business Journal, Elmwood recently purchased three additional lots near the Fairweather Condos in the Warehouse District for $6.48 million, bringing their total land area to over half an acre.
The plans for this development include a mix of retail and residential spaces with a parking deck, as indicated by site plans submitted to the city. The building will feature 298 units, including 222 one-bedroom units, 64 two-bedroom units and 12 three-bedroom units. The ground floor will also house approximately 8,000 square feet of retail space.
Facing Cabarrus Street will be amenities such as a residential lobby and fitness center along with some retail options while South West Street will host most of the remaining commercial spaces. This prime location is situated across from Kane Realty’s West End development and currently has two buildings on-site that are set to be demolished in order to make way for Elmwood’s new project.
