May

St. Albans Gets Funding

The St. Albans at North Hills recently secured about $100 million in construction loans financing. The 6-story building will contain 410 apartments, “several pools”, a 48K square foot Harris Teeter, and about 52K square feet of retail. According to TBJ the complex will have a parking deck and a separate elevator that will take tenants to and from Harris Teeter. The apartment rents will start at $925 per month.

The complex is in all likelihood the building at the bottom of the photo featuring the scaled down North Hills East project. (scaled down when compared to the renderings on this page ). The project was originally planned to be bigger, provided tax increment financing could be secured. (The TIF debate was a key topic with the Raleigh City Council last year, but ultimately did not receive support from many council members).

http://www.raleighmsa.com Ernest

While still a great project, I hope NHE will not be scaled down. That parking lot behind the CAPTRUST Tower will be an eyesore if left undeveloped.
Jerry

Scaled back, excuses for not getting their way (they can use there own money like they did on North Hills West).
Jenna

If a Harris Teeter will be part of North Hills East, will the one on Lassiter still be there? (If not, that would be a great location for a Whole Foods or Fresh Market.)
Dana

Right, Jenna. The HT is going to move over to North Hills East. No word on what’s going into the current HT’s space, but I’ll bet it won’t be groceries. Chains like Whole Foods and Fresh Market don’t understand that NH is a totally different market than Wade/440. They just see that it is a 10 minute drive.

One rumor floating around for a while was that Trader Joe’s was going to take the HT space. Of course, we’ve since learned that TJ’s is going into the Holly Park shopping center.

I can just hear the moaning and groaning about the parking for HT in NHE now. (Currently there is a lot of unfound criticism about parking for the west side.)

Personally, I’m kinda “meh” about the architecture. I don’t mind the Alexan, but a whole giant complex that looks like it is like getting a year of free Welcome to Moe’s dining.

gogoraleigh.com

St. Albans Gets Funding

Recent Stories