RALEIGH - WEINGARTEN REALTY CRANKING UP CRABTREE PROJECT
Raleigh, North Carolina. It appears that the 12 acre tract behind Crabtree Valley Mall will be home to a showpiece mixed-use project called Crabtree Creek. It has been a long time in coming together. Weingarten Realty Investors has come up with a $300 million plan that will include more than 400 luxury apartments, 250,000 square feet of retail and entertainment space and some 150,000 square feet of office space. Weingarten has lined up Atlanta-based Trammel Crow to put in the apartments, Marison Marquette of Washington, D.C. to handle the entertainment space and Lichtin Corp. of Raleigh to build the office space. There are to be eight multi-level buildings, two and three-level parking decks and two restaurant outparcels. A strip shopping center used to sit on the site that is some 32 feet above the street level of Crabtree Valley Avenue which fronts the property. Weingarten will have some 500,000 cubic yards of dirt removed to bring the site down to street level. Construction is to start in about a year and should take from 18 to 24 months to be completed.
John Fish (919) 696-3474 Email: marvmax@mindspring.com Website: www.JohnFish.com
