Williams Realty, Partners Receive Construction Loan for Mixed-Use Project in Raleigh’s CBD
RALEIGH, N.C. — Williams Realty & Building Co., in conjunction with Kane Realty Corp. and capital partner Lionstone Investments, has received construction financing for the development of a high-rise mixed-use project in Raleigh’s central business district. Colby Mueck, Roger Edwards and Travis Anderson of HFF arranged the construction loan through New York Life Insurance Co. Other terms of the financing were not disclosed. The property is located at the southwest corner of West Peace and North West streets, next to the future 16-acre Devereux Meadows Park. The first phase of the project will include a 45,600-square-foot Publix store, 5,340 square feet of inline retail space, 417 multifamily units and a 735-space structured parking garage. The residential portion will include studio to three-bedroom units averaging 898 square feet. The development team expects to deliver the first phase in mid-2019. Future phases will include additional residential and retail space, along with office and hotel space.