Fallon Company Announces Raleigh Crossing Mixed-Use Project
RALEIGH, N.C. — The Fallon Company, a Boston-based developer specializing in urban mixed-use projects, has unveiled plans for Raleigh Crossing, a new development spanning 1.8 acres in the state capital.
Named for its location at the convergence of four city districts, Raleigh Crossing will feature four distinct uses. Preliminary plans call for 280,000 square feet of Class A office space, 18,000 square feet of retail space, a 165-room hotel and a 135-unit apartment community.
The project will also include an outdoor amenity terrace with space for communal events. Sidewalks will also be expanded to accommodate a heavier volume of foot traffic.
Fallon expects to break ground in September on Phase I of the project, which will deliver a commercial tower at 301 Hillsborough St. That building will house the 280,000 square feet of office space, as well as 12,500 square feet of retail space and a fitness center. The hotel and residential components, as well as the remaining 7,000 square feet of retail space, will comprise Phase II.
Duda | Paine Architects is designing the project. CBRE is handling preleasing of the retail space, which is underway. Pendo, a provider of cloud and software solutions, plans to relocate its corporate headquarters to Raleigh Crossing upon completion.
“Raleigh Crossing will be the city’s premier mixed-use destination,” says Michael Fallon, president of The Fallon Company. “We look forward to breaking ground on Raleigh Crossing at an important moment in downtown Raleigh’s evolution into a national destination and an ideal place to live, work and play.”
A timeline for delivery was not released.
— Taylor Williams