Downtown Raleigh & The Skyhouse Project

Posted in Real Estate over 2 years ago, 0 replies

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Downtown Raleigh has enjoyed a very steady and noticeable evolution over the past several years. This evolution has included everything from the restoration of streets and existing buildings, to the rise of new buildings, and it doesn't seem to be showing signs of slowing down in the near future. With perhaps the most noteworthy recent development downtown, the construction of the PNC Tower only a few years behind us, it appears that it's time for another impressive project in the same neighborhood. It appears that in the very near future we'll be getting used to the sure to be impressive sight of SkyHouse Raleigh luxury apartments at the corner of Martin and Blount streets.

The latest and most ambitious in a series of new apartment projects in Raleigh's downtown area, SkyHouse Raleigh will be the product of a collaborative effort by Atlanta's Novare Group and local developers Beacon Partners, and would seem to be poised to become the face of luxury apartment living in Raleigh. The plan is for the building to be a 320 unit, 23 story high-rise, and is expected to cost in the neighborhood of $60 million.

Though construction on this new building has not yet begun, the developers are hopeful to break ground within this calendar year, and it seems that many of the details of the project are already settled. In addition to its 23 stories and 320 units, SkyHouse Raleigh will include 5,400 square feet of space devoted to retail areas, as well as a rooftop pool almost 250 feet above street level. Needless to say, these features comprise a more "big city" feel as compared to many existing Raleigh living spaces, and the building's close proximity to the new PNC Tower puts it in a lively and attractive area of downtown Raleigh. In fact, the surrounding area figures to be what makes this project work.

As mentioned, the evolution of downtown Raleigh has consisted of more than just new buildings. With ever-increasing restaurant and nightlife options, fixed up streets, and a generally vibrant crowd of young professionals, the central and western areas of downtown Raleigh are now bursting with activity, which means that the demand for the luxury units offered in SkyHouse Raleigh will be extremely high. In fact, SkyHouse Raleigh will be joining seven other new apartment complexes within a 3 mile range, which together will greatly boost the downtown area's ability to house more people as it continues to grow, expand and improve.
Photo of Tony Spencer.

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